Category: Elrond

Top 3 Coins to Watch Today: EGLD, DFI, ROSE – August 26 Trading Analysis

Post author By Malik Junaid
Post date August 26, 2022

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. Elrond (EGLD)

Elrond EGLD is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralised finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. The blockchain has a native token known as eGold, or EGLD, used for paying network fees, staking, and rewarding validators.

EGLD Price Analysis

At the time of writing, EGLD is ranked the 42^nd cryptocurrency globally and the current price is US$57.54. Let’s take a look at the chart below for price analysis:

Source: TradingView

EGLD‘s 65% rally during Q1 reversed with many other coins in Q2, retracing nearly 50%. Just above the current price and near the June monthly open, $69.20 could provide resistance before a downward move. This level has confluence with the 18 EMA.

Bears may consider $74.94 as a higher probability resistance to hunt shorts for a longer swing downward. However, higher-timeframe charts suggest that the price could reach $82.45 at the top of an inefficiently traded area before any future bearish breakdowns.

Resistance might also rest near $86.45, above the recent monthly open. However, the price is less likely to reach this level unless the overall market starts a bullish swing.

The price is finding support between $45.30 and $40.86. This zone may continue to hold, while overlapping higher-timeframe levels from $37.44 to $34.81 could provide the most substantial support inside this area.

2. DeFiChain (DFI)

DeFiChain DFI is a blockchain platform built with the mission of maximising the full potential of DeFi within the Bitcoin (BTC) ecosystem. The software platform is supported by a distributed network of computers and is designed to facilitate fast and transparent transactions. The development team positions DeFiChain as an innovative blockchain project and offers solutions to problems like scalability, security, and decentralisation.

DFI Price Analysis

At the time of writing, DFI is ranked the 215^th cryptocurrency globally and the current price is US$0.9492. Let’s take a look at the chart below for price analysis:

Source: TradingView

DFI collapsed 80% from its April high before beginning an uptrend in early July.

Bulls broke the market structure to the upside across Q2. This break resulted in a 64% climb ending with a large spike during June. Inside this spike, $1.22 could provide the first resistance. It overlaps with a small area of inefficient trading in mid-June and is near the 40 EMA.

A move higher may retest July’s high, near $1.30. This area shows inefficient trading on the daily and weekly charts. It’s also near the top of inefficient trading on the monthly chart.

If the rally continues, bulls should find support near $1.08. A narrow pocket under this level, from $1.06 to $1.02, could provide more sensitivity. This pocket shows inefficient trading on the daily and overlaps with old highs. It’s also near the 9 and 18 EMAs.

If the downtrend resumes, a wide area from $0.9133 to $0.07532 may spawn the following bullish setup. This zone shows inefficient trading on the monthly chart.

3. Oasis Network (ROSE)

The Oasis Network ROSE is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionising Open Finance and expanding it beyond traders and early adopters to a mass market. Its unique privacy features can not only redefine DeFi but also create a new type of digital asset called Tokenised Data that can enable users to take control of the data they generate and earn rewards for staking it with applications – creating the first-ever responsible data economy.

ROSE Price Analysis

At the time of writing, ROSE is ranked the 100^th cryptocurrency globally and the current price is US$0.06918. Let’s take a look at the chart below for price analysis:

Source: TradingView

ROSE climbed 40% from its Q1 low, then dropped nearly 63% into support last month. The price is currently testing this resistance, near $0.1043. It may also provide support again and has confluence with the 61.8% and 78.6% retracements.

Resistance begins just above, at $0.09537. This inefficiently traded area, which reaches slightly beyond $0.1186, contains the previous monthly highs, a bearish market structure break on the daily chart, and the 9, 18 and 40 EMAs.

These confluences often provide strong resistance. Since this resistance is close to the $0.1215 support, the price may enter consolidation before breaking out to the next move.

If the price breaks this resistance, bulls could eye an area of old rejection, near $0.1320, as their next target. Continuation through this level may target another area of bearish rejection on the weekly chart, near the 27% extension from $0.1359 to $0.1387.

A more significant bearish turn in the market may reach for bulls’ stops under the Q2 lows, down to an area of old support in an inefficiently traded area between $0.06341 and $0.05217.

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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.

ARPA Chain Crypto News Elrond Gala Market Analysis Trading

Top 3 Coins to Watch Today: GALA, EGLD, ARPA – July 4 Trading Analysis

Post author By Malik Junaid
Post date July 4, 2022

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. Gala (GALA)

GALA aims to take the gaming industry in a different direction by giving players back control over their games. Gala Games’ mission is to make “blockchain games you’ll actually want to play”. The project wants to change how players can spend hundreds of dollars on in-game assets and countless hours playing the game, all of which could be taken away from them with the click of a button. It plans to reintroduce creative thinking by giving players control of the games and in-game assets with the help of blockchain technology.

GALA Price Analysis

At the time of writing, GALA is ranked the 84^th cryptocurrency globally and the current price is US$0.05267. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, GALA turned into a recovery trend to make the new monthly highs.

The following 80% plummet found support near $0.05039, sweeping under the 40 EMA into the 60.8% retracement level before bouncing to resistance beginning at $0.06320.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $0.06912, where aggressive bulls might begin bidding. The level near $0.07534, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $0.08685.

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $0.04620 could provide at least a short-term bounce. If this level fails, the old highs near $0.03935 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Elrond (EGLD)

EGLD Price Analysis

At the time of writing, EGLD is ranked the 43^rd cryptocurrency globally and the current price is US$50.33. Let’s take a look at the chart below for price analysis:

Source: TradingView

EGLD‘s 65% rally during Q1 reversed with many other coins in Q2, retracing nearly 45%.

Just above the current price and near the June monthly open, $70.68 could provide resistance before a downward move. This level has confluence with the 18 EMA.

Bears might consider $75.94 as a higher probability resistance to hunt shorts for a longer swing downward. However, higher-timeframe charts suggest that the price could reach $87.45 at the top of an inefficiently traded area before any future bearish breakdowns.

Resistance might also rest near $90.45, above the recent monthly open. However, the price is less likely to reach this level unless the overall market starts a bullish swing.

The price is finding support between $49.44 and $40.586. This zone might continue to hold, while overlapping higher-timeframe levels from $38.44 to $35.81 could provide the most substantial support inside this area.

3. ARPA Chain (ARPA)

ARPA is a blockchain-based layer 2 solution for privacy-preserving computation, enabled by Multi-Party Computation (MPC). Founded in April 2018, the goal of ARPA is to separate data utility from ownership and enable data renting. ARPA’s MPC protocol creates ways for multiple entities to collaboratively analyse data and extract data synergies while keeping each party’s data input private and secure. Developers can build privacy-preserving dApps on blockchains compatible with ARPA. Some immediate use cases include credit anti-fraud, secure data wallets, precision marketing, joint AI model training, and key management systems.

ARPA Price Analysis

At the time of writing, ARPA is ranked the 367^th cryptocurrency globally and the current price is US$0.03729. Let’s take a look at the chart below for price analysis:

Source: TradingView

ARPA set a high near $0.08732 in April before retracing nearly 83% to find a low near $0.03157. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near $0.04288 is slowing the bullish advance down. However, another leg might target the last swing high at $0.04351 and relatively equal highs at $0.04833. Resistance near $0.05472 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near $0.06148.

A retracement before a move higher might find support in the daily gap near $0.03574, just above the monthly open. Relatively equal lows near $0.03130 could also provide support. Run-on stops at $0.02944 and $0.02820 might find support in the gap beginning near $0.02687 or a high-timeframe level near $0.02477.

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Avalanche Crypto News Elrond Market Analysis THORChain Trading

Top 3 Coins to Watch Today: AVAX, EGLD, RUNE – April 21 Trading Analysis

Post author By Malik Junaid
Post date April 21, 2022

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. Avalanche (AVAX)

Avalanche AVAX is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low-cost, and green. Any smart contract-enabled application can outperform its competition on Avalanche. AVAX is the native token of Avalanche. It is a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche.

AVAX Price Analysis

At the time of writing, AVAX is ranked the 10^th cryptocurrency globally and the current price is US$78.44. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s 60% gains during Q1 ended with an almost 25% retracement as the rest of the altcoin market dropped in early April. Bulls stepped in near the 50.8% retracement of Q2’s move, creating a consolidation that ended with last week’s bullish impulse to resistance near $97.35.

With the 9, 18 and 40 EMAs stacked bullish and a bullish higher-timeframe trend, it’s reasonable to anticipate retracement to possible support before further bullish expansion.

Near the 40 EMA, a broad zone from $73.15 to $68.45 could see interest from bulls before further expansion. If this level fails, bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 65% retracement, at $64.70, and potentially lower to a higher-timeframe support zone between $60.42 and $57.80.

If the higher-timeframe bullish trend resumes and the current resistance near $99.35 breaks, the wicks near $120.84 and the new monthly highs might see profit-taking.

2. Elrond (EGLD)

Elrond EGLD is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralised finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. The blockchain has a native token known as eGold, or EGLD, that is used for paying network fees, staking, and rewarding validators.

EGLD Price Analysis

At the time of writing, EGLD is ranked the 39^th cryptocurrency globally and the current price is US$162.73. Let’s take a look at the chart below for price analysis:

Source: TradingView

EGLD‘s 60% rally during March reversed with many other coins in April, retracing nearly 35%.

Just above the current price and near the April weekly open, $190.68 could provide resistance before a downward move. This level has confluence with the 18 EMA.

Bears might consider $169.94 as a higher probability resistance to hunt shorts for a longer swing downward. However, higher-timeframe charts suggest that the price could reach $153.45 at the top of an inefficiently traded area before any future bearish breakdowns.

Resistance might also rest near $210.45, above the 2022 yearly open. However, the price is less likely to reach this level unless the overall market starts a bullish swing.

The price is finding support between $150.44 and $143.586. This zone might continue to hold, while overlapping higher-timeframe levels from $138.44 to $135.81 could provide the most substantial support inside this area.

3. THORChain (RUNE)

ThorChain RUNE is a decentralised liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process. The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem, and is also used for platform governance and security as part of THORChain’s Sybil resistance mechanisms – since THORChain nodes must commit a minimum of 1 million RUNE to participate in its rotating consensus process.

RUNE Price Analysis

At the time of writing, RUNE is ranked the 44^th cryptocurrency globally and the current price is US$9.14. Let’s take a look at the chart below for price analysis:

Source: TradingView

RUNE abruptly rallied after retracing nearly 83% from its November highs, climbing 128% from its late February low.

Bulls are currently taking profits in a contested area between $9.28 and $9.13. This area saw inefficient trading on higher timeframes. It could serve as support if the price trades through its high end and retests it – or as resistance if the price breaks back below.

The closest support rests just below, near $8.31. The old high at this level could support a rally into resistance near $9.52.

A move through the closest resistance might target the consolidation midpoint near $10.40, near the 27% extension of the current rally. If this level breaks, bulls might target an inefficient area near $12.38 and beyond.

If the price rejects from this level and breaks the closest support, it could find support near the midpoint of the current range and 2022 yearly open, near $7.98. The price might also find support slightly below near the 61.8% retracement level, around $7.28.

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Cosmos Crypto News Elrond Glitch Market Analysis Trading

Top 3 Coins to Watch Today: ATOM, EGLD, GLCH – March 15 Trading Analysis

Post author By Malik Junaid
Post date March 15, 2022

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. Cosmos (ATOM)

Cosmos ATOM bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains. ATOM tokens are earned through a hybrid proof-of-stake algorithm and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.

ATOM Price Analysis

At the time of writing, ATOM is ranked the 20^th cryptocurrency globally and the current price is US$26.77. Let’s take a look at the chart below for price analysis:

Source: TradingView

ATOM has been consolidating in a range around May 2021’s high since Q3 2021.

February 2022 saw the start of a smaller range inside this larger range. Near the current price, $26.38 or $24.94 could support at least a small move upward. This area is near the local range low, inefficiently traded, and the site of a stop run before late February’s rally.

Just above the current price, the 9, 18 and 40 EMAs might provide resistance near $27.86. This level saw consolidation before last week’s downward move.

A move back toward the local range highs could reach possible resistance near $33.06, where bears rejected February’s rally. This level is just above the 2022 yearly open and the March monthly open.

A more extended move by bulls might reach the larger range’s rejection area near $38.81. However, a move this far is less likely unless the overall market rallies.

Below the higher timeframe’s range, $17.55 to $14.80 could provide more substantial support to start a longer-term bullish trend. This level is near the 78.6% retracement of the June 2021 to September 2021 rally, shows inefficient trading on higher-timeframe charts, especially between $17.25 and $15.96, and provides a reasonable stop run target under relatively equal lows at $20.18 and $21.40.

2. Elrond (EGLD)

Elrond EGLD is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralised finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. The blockchain has a native token known as eGold, or EGLD, that is used for paying network fees, staking, and rewarding validators.

EGLD Price Analysis

At the time of writing, EGLD is ranked the 37^th cryptocurrency globally and the current price is US$143.35. Let’s take a look at the chart below for price analysis:

Source: TradingView

EGLD‘s 919% rally during the second half of 2021 reversed with many other coins in November, retracing nearly 80% by January.

Just above the current price and near the March open, $141.68 could provide resistance before a downward move. This level has confluence with the 18 EMA.

Bears might consider $170.94 as a higher probability resistance to hunt shorts for a longer swing downward. However, higher-timeframe charts suggest that the price could reach up to $205.45 at the top of an inefficiently traded area before any future bearish breakdowns.

Resistance might also rest near $254.44, above the 2022 yearly open. However, the price is less likely to reach this level unless the overall market starts a bullish swing.

The price is finding support between $133.00 and $94.38. This zone might continue to hold as investors accumulate for the snapshots beginning on Tuesday. Overlapping higher-timeframe levels from $118.44 to $107.81 could provide the most substantial support inside this area.

Significant swing lows and stops near $53.41 may be the bearish target if this support breaks. If the price reaches this level, a longer-term bottom might form in a higher-timeframe inefficiently traded area between $53.41 and $29.80.

3. Glitch (GLCH)

Glitch GLCH is a fast, interoperable, blockchain-agnostic protocol purpose-built for DeFi. Rather than aiming to be a jack-of-all use cases, GLITCH has a singular focus on decentralised financial applications and trustless money markets. GLITCH solves the expensive fee structure of other blockchain platforms while simultaneously rewarding all ecosystem participants and guaranteeing low network fees through a unique revenue-sharing model. Glitch plans to incorporate token wrapping bridges, where dApps can run more efficiently, all in service of Glitch’s ultimate goal: to become a cornerstone of blockchain infrastructure.

GLCH Price Analysis

At the time of writing, GLCH is ranked the 630^th cryptocurrency globally and the current price is US$0.3845. Let’s take a look at the chart below for price analysis:

Source: TradingView

GLCH‘s stunning 1,988% bullrun during the second half of 2021 retraced nearly 90% by January.

January’s low found support between $0.3332 and $0.2911, which could provide support again. However, while the market remains bearish, bulls might wait to see if the price reaches near July’s accumulation zone between $0.2239 and $0.1949.

Reaching this zone would run most bulls’ trailed stops. The higher end of this range, near $0.2239, may be more sensitive if bulls begin accumulating for another market cycle.

Just above the current price, $0.3772 could provide short-term resistance. The 9 and 18 EMAs frame this level at the low end of February’s consolidation.

A more substantial rally might reach possible resistance at the 40 EMA and March open, near $0.4437. If the overall market turns more bullish, this resistance may break as bulls look to take profits around $0.5560, near the 78.6% retracement of February’s downward swing.

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Alien Worlds Crypto News Elrond Market Analysis Trading Zcash

Top 3 Coins to Watch Today: ZEC, TLM, EGLD – March 2 Trading Analysis

Post author By Malik Junaid
Post date March 2, 2022

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. Zcash (ZEC)

Zcash ZEC is a decentralised cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions. Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent.

ZEC Price Analysis

At the time of writing, ZEC is ranked the 60^th cryptocurrency globally and the current price is US$116.48. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZEC‘s recent bearish flip of the 9, 18 and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near $96.47 and $112.96 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce.

Last year’s long-term consolidation suggests that the areas near $88.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $125.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $140.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $158.41 might provide a ceiling for this impulse.

2. Alien Worlds (TLM)

Alien Worlds TLM is a decentralised, non-fungible token (NFT) metaverse where players compete for scarce resources of Trilium (TLM) in a simulated economy based around planetary worlds. Due to this, Alien Worlds also has a decentralised finance (DeFi) element to the game, as players advance by staking TLM and using TLM to vote in planetary Decentralised Autonomous Organisations (DAOs).

TLM Price Analysis

At the time of writing, TLM is ranked the 370^th cryptocurrency globally and the current price is US$0.1127. Let’s take a look at the chart below for price analysis:

Source: TradingView

TLM formed relatively equal lows near $0.09541 after dropping over 45% last month. These lows could provide the target for another leg down, possibly finding support in the monthly gap of around $0.09354.

If this sweep of the $0.09053 swing lows occurs, more aggressive bulls might begin bidding the weekly level near the swing low around $0.08944. Should the market take a more bullish turn, the level just below, near $0.08863, could provide some short-term support.

The steep drop left large areas of inefficient price action, making the daily gap up to $0.1436 likely to be touched or filled. A sustained move through this resistance could visit a significant area on the monthly and weekly chart near $0.1705.

3. Elrond (EGLD)

Elrond EGLD is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralised finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. The blockchain has a native token known as eGold, or EGLD, that is used for paying network fees, staking, and rewarding validators.

EGLD Price Analysis

At the time of writing, EGLD is ranked the 40^th cryptocurrency globally and the current price is US$150.97. Let’s take a look at the chart below for price analysis:

Source: TradingView

EGLD‘s 45% retracement from its February highs set a low near $132.23 during its consolidation that began last week.

Relatively equal highs near $179.44 could be the current target if the price breaks through resistance beginning near $200.45. Bullish continuation might reach through the next significant swing high near $215.71 into the daily gap near $229.16.

If bullish strength continues, the zones just below the previous monthly open near $238.69 and $245.87 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $145.19 into possible support near $140.43. If this down move occurs, the swing low near $137.22 and possible support near $135.70 may be the primary objective.

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Crypto News Elrond Market Analysis Serum Smooth Love Potion Trading

Top 3 Coins to Watch Today: SLP, EGLD, SRM – February 9 Trading Analysis

Post author By Malik Junaid
Post date February 9, 2022

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. Smooth Love Potion (SLP)

Smooth Love Potion SLP tokens are earned by playing the Axie Infinity game. This digital asset serves as a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets known as Axies. The cost of breeding begins at 100 SLP but increases gradually, rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth, and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.

SLP Price Analysis

At the time of writing, SLP is ranked the 460^th cryptocurrency globally and the current price is US$0.01962. Let’s take a look at the chart below for price analysis:

Source: TradingView

SLP‘s 85% rally during last week ran into 25% retracement near $0.01915. Since then, the price has been consolidating in a 40% range between $0.02024 and $0.02445.

Just below the late-December low, $0.01897 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near $0.01678 might cap a run on the lows near $0.01504 and $0.01435.

The higher-timeframe analysis points to the area near $0.02651 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $0.03047 and $0.03240 may be the next targets.

2. Elrond (EGLD)

Elrond EGLD is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralised finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. The blockchain has a native token known as eGold, or EGLD, that is used for paying network fees, staking, and rewarding validators.

EGLD Price Analysis

At the time of writing, EGLD is ranked the 44^th cryptocurrency globally and the current price is US$170.99. Let’s take a look at the chart below for price analysis:

Source: TradingView

EGLD‘s 55% retracement from its December highs set a low near $135.23 during its consolidation that began in early February.

Relatively equal highs near $187.44 could be the current target if the price breaks through resistance beginning near $205.45. Bullish continuation might reach through the next significant swing high near $220.71 into the daily gap near $231.16.

If bullish strength continues, the zones just below the previous monthly open near $240.69 and $247.87 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $160.19 into possible support near $155.43. If this down move occurs, the swing low near $149.22 and possible support near $142.70 may be the primary objective.

3. Serum (SRM)

Serum SRM is a decentralised exchange DEX and ecosystem that brings unprecedented speed and low transaction costs to decentralised finance. Serum is the only high-performant DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can compose with Serum’s on-chain orderbook to share liquidity and power their trading features for institutional and retail users.

SRM Price Analysis

At the time of writing, SRM is ranked the 166^th cryptocurrency globally and the current price is US$2.47. Let’s take a look at the chart below for price analysis:

Source: TradingView

SRM‘s December spike retraced near $2.11 into the consolidation that began the impulse before bouncing to $2.50.

This consolidation could provide support again, although bears would first have to push the price through possible support near $2.42. The market’s structure may be shifting bearish, with $2.37 likely to provide some support if this is the case. A sustained bearish move could reach the swing low near $2.30 before finding support near $2.24.

However, the bullish higher-timeframe trend may prevail, with relatively equal highs near $2.67 potentially providing an attractive target to lure the price over the September monthly high. If so, the price could reach for the midpoint of the massive wick near $2.90.

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