Category: Dent

Top 3 Coins To Watch Today: DOGE, DENT, REN – October 6 Trading Analysis

Post author By Malik Junaid
Post date October 6, 2021

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Dogecoin (DOGE)

Dogecoin DOGE is based on the popular “Doge” internet meme and features a Shiba Inu as its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme.

DOGE Price Analysis

At the time of writing, DOGE is ranked the 8^th cryptocurrency globally and the current price is A$0.3591. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOGE marines continue pushing the price higher, printing nearly 35% gains during the first week of October.

The consolidation near A$0.3426 is likely to provide support as the price continues exploring new highs. However, a set of relatively equal lows near A$0.3259 provides a tempting target for a stop run into probable support near A$0.2938.

A decidedly bearish shift in the market could reach probable support near A$0.2750, near August’s monthly open.

Almost no resistance lies overhead, although low-timeframe traders can use the resistance below recent highs near A$0.3947 as a first target. Beyond this level, extensions near A$0.4267, A$0.4552 and A$0.4836 give reasonable higher-timeframe targets.

2. Dent (DENT)

DENT is a revolutionary digital mobile operator offering eSIM cards, mobile data plans, call minutes top-ups, and a roam-free experience. According to the company website, Dent employs blockchain technology’s powers to create a global marketplace for mobile data liberalisation. Dent has an ambitious roadmap ahead, with plans to expand its services to new markets by the end of 2021.

DENT Price Analysis

At the time of writing, DENT is ranked the 120^th cryptocurrency globally and the current price is A$0.008118. Let’s take a look at the chart below for price analysis:

Source: TradingView

DENT retraced 55% during September before finding support near A$0.005347. The following bounce encountered resistance at the daily gap near A$0.006388.

Bulls might wait for a sweep of the local lows into support near A$0.007842 before stepping in. A move to this level could reach into the higher timeframe gap down to A$0.007120.

In the most bearish scenario, a significant turn in the market could push the price down to consolidation near A$0.006712.

The local resistance near A$0.008941 and the relatively equal swing highs give a reasonable first target. Just above, layered resistance near A$0.009233 and A$0.009865 could slow bulls down as they push the price towards the significant swing high at A$0.01124.

3. Ren (REN)

REN is an open protocol built to provide interoperability and liquidity between different blockchain platforms. The protocol’s native token, REN, functions as a bond for those running nodes that power RenVM, known as Darknodes. REN aims to expand the interoperability, and hence accessibility, of decentralised finance (DeFi) by removing hurdles involved in liquidity between blockchains.

REN Price Analysis

At the time of writing, REN is ranked the 85^th cryptocurrency globally and the current price is A$1.67. Let’s take a look at the chart below for price analysis:

Source: TradingView

REN bulls have enjoyed over 350% returns since the July lows, with little resistance above to end the current price discovery.

The price may find support near A$1.42. Still, aggressive bulls should be wary of a potential stop run under the monthly open into support near A$1.33. The area around A$1.24 should provide strong support if the price reaches this low.

The air above the current price is thin, but the level near A$1.79 could potentially provide some resistance in the short term. Extensions reaching near A$1.92 and A$2.15 make reasonable take-profit zones if the bullish trend continues.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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Top 3 Coins To Watch Today: DENT, TRX, ICX – September 10 Trading Analysis

Post author By Malik Junaid
Post date September 10, 2021

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Dent (DENT)

Dent is a revolutionary digital mobile operator offering eSIM cards, mobile data plans, call minutes top-ups, and a roaming-free experience. According to the company website, Dent employs blockchain technology’s powers to create a global marketplace for mobile data liberalisation. Dent has an ambitious roadmap ahead, with plans to expand its services to new markets by the end of 2021. The company has already attracted more than 25 million mobile device users, and Dent services are available in more than 140 countries.

DENT Price Analysis

At the time of writing, DENT is ranked the 126^th cryptocurrency globally and the current price is A$0.005217. Let’s take a look at the chart below for price analysis:

Source: TradingView

After dropping nearly 60% in less than two weeks, DENT found a low just above the monthly gap near A$0.005187. Since then, the price has been consolidating in a range between A$0.004833 and A$0.005439.

The weekly level near A$0.005121 may continue to provide support during a run on the local swing lows. The monthly gap beginning near A$0.004975 will likely give the next higher-timeframe support if this level fails.

The price is currently chewing into potentially strong resistance near A$0.005297. A sweep of the relatively equal highs near A$0.005428, and a daily close above this level, could signal a move to the next set of relatively equal highs near A$0.005736.

Just above these highs, probable resistance rests near A$0.006143, which may cap the price until the market moves out of consolidation. However, any significant bullish shift in market conditions during the next few weeks could help bulls reach the swing high near A$0.006482, running stops into probable resistance near A$0.006733.

2. Tron (TRX)

Tron TRX is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has a capacity for 2,000 TPS. This project is best described as a decentralised platform focused on content sharing and entertainment and to this end, one of its biggest acquisitions was the file-sharing service BitTorrent in 2018. Overall, TRON has divided its goals into six phases. These include delivering simple distributed file sharing, driving content creation through financial rewards.

TRX Price Analysis

At the time of writing, TRX is ranked the 28^th cryptocurrency globally and the current price is A$0.09369. Let’s take a look at the chart below for price analysis:

Source: TradingView

TRX accompanied the rest of the market in the mid-Q2 drop, falling nearly 73% from its mid-May high until it found a low late in June.

Price action in late June formed a weekly support level near A$0.08654, which has so far held up the price. The most recent swing low inside this range, near A$0.08439, might be the target for any future stop runs. After this low, the swing low near A$0.08229 and the gap beginning near A$0.07955 mark possible higher-timeframe support.

The price is currently battling with significant higher-timeframe resistance levels, with the closest probable resistance resting near A$0.09422, just over the July monthly open. A sweep of the relatively equal highs above this resistance might find sellers near A$0.09735 – but could reach as high as A$0.1087.

3. Icon (ICX)

Icon ICX is a decentralised blockchain network focused on interoperability. With ICON’s “blockchain transmission protocol”, independent blockchains like Bitcoin and Ethereum can connect and transact with each other. This opens up cross-chain use cases that are impossible without an interoperability layer like ICON. The ICON Network is powered by a proprietary blockchain engine called ‘loopchain’, which has the ability to handle hundreds of transactions per second.

ICX Price Analysis

At the time of writing, ICX is ranked the 94^th cryptocurrency globally and the current price is A$1.62. Let’s take a look at the chart below for price analysis:

Source: TradingView

ICX has been trading through a massive range since June, with the price showing mild bullishness during August.

The breaks of the swing highs at A$1.60 and A$1.65 led to support forming near A$1.57. Some bulls will likely wait for a more favourable entry on a potential stop run that could reach near A$1.53.

If the support near A$1.59 continues to hold, the recent swing high at A$1.68 is the likely next short-term target. This potential bullish swing might end with a run on short stops up to A$1.73 and A$1.75.

Higher-timeframe resistance between A$1.77 and A$1.79 may cap any move upwards until the overall market becomes more bullish. However, any significant bearish move in bitcoin will likely push the price down toward the low and possible support near A$1.56.

Where to Buy or Trade Altcoins?

Binance Crypto News Dash Dent Market Analysis Swyftx Trading

Top 3 Coins To Watch Today: HOT, DENT, DASH – August 20 Trading Analysis

Post author By Malik Junaid
Post date August 20, 2021

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Holo (HOT)

Holo HOT is a peer-to-peer distributed platform for hosting decentralised applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. The goal of Holo is to serve as a bridge between the broader internet and apps built using Holochain, offering an ecosystem and marketplace in which DApps are easily accessible, as they are hosted on the internet by Holo network participants.

HOT Price Analysis

At the time of writing, HOT is ranked the 65^th cryptocurrency globally and the current price is A$0.01431. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the beginning of April, HOT has been in a gentle downtrend. The future likely holds more stop runs and erratic volatility until the chart forms more substantial high-timeframe levels.

A retracement might uncover support near A$0.01146, which is the daily high of the last swing low. The high of the wick beginning near A$0.009244 may also provide support. However, bulls will likely remain wary of the current downtrend, making the low at A$0.008369 likely to be the next bearish target.

Just above, the daily gap beginning near A$0.01613 may provide resistance to bulls, possibly marking a future range high. A push through this level is likely to target the swing high near A$0.01799 – perhaps running to probable resistance near A$0.01955. Strength above this level might signal the start of a bullish trend, encouraging bulls to “buy the dip”.

2. Dent (DENT)

DENT Price Analysis

At the time of writing, DENT is ranked the 112^th cryptocurrency globally and the current price is A$0.008959. Let’s take a look at the chart below for price analysis:

Source: TradingView

April’s 250% bullish candle has since bled near 85%, with the DENT finding a low near A$0.003175 in mid-July.

Bulls are buying each drop into support near A$0.008241, with higher lows forming each time. However, the equal lows near A$0.007624 create an attractive target for a stop run. Still, bulls might buy this dip near possible support beginning at A$0.006955.

Just over the mid-August weekly open, A$0.009548 marks the beginning of a probable resistance zone. A breakthrough in this area might target the equal highs near A$0.01186 before running into possible resistance near A$0.01293.

A sustained move upward – perhaps from a market-wide bullish shift – could reach the swing high near A$0.01388 before encountering probable resistance near A$0.01499.

3. Dash (DASH)

Dash is an open-source blockchain and cryptocurrency focused on offering a fast, cheap global payments network that is decentralised in nature. According to the project’s white paper, Dash seeks to improve on Bitcoin by providing stronger privacy and faster transactions. Dash’s governance system, or treasury, distributes 10% of the block rewards for the development of the project in a competitive and decentralised way.

DASH Price Analysis

At the time of writing, DASH is ranked the 57^th cryptocurrency globally and the current price is A$290.19. Let’s take a look at the chart below for price analysis:

Source: TradingView

During May, DASH dumped over 83% before finding support near A$168. Consolidation above this level has created a series of relatively equal lows, which are likely to be swept before any longer-term bullish trend begins.

In the shorter term, the price might establish support near A$259 before running the swing high at A$315. If this bullish move occurs, the price could reach resistance near the August monthly open around A$245, and may even sweep the swing high near A$238.

Some support might exist at the daily gap near A$230. A move this low would also fill the June monthly gap and set the stage for a possible bullish reversal.