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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. Eos (EOS)

EOS is a platform designed to allow developers to build decentralised apps. The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology and ensure the network is easier to use than rivals. As a result, tools and a range of educational resources are provided to support developers who want to build functional apps quickly. EOS also aims to improve the experience for users and businesses. While the project tries to deliver greater security and less friction for consumers, it also vies to unlock flexibility and compliance for enterprises.

EOS Price Analysis

At the time of writing, EOS is ranked the 40^th cryptocurrency globally and the current price is US$1.45. Let’s take a look at the chart below for price analysis:

Source: TradingView

EOS has plummeted nearly 75% from its April 2022 highs and almost 90% from its May 2021 all-time high.

The closest resistance overlaps with the 8 EMA near $1.60, where the daily chart shows inefficient trading. This level rejected the price’s first retest on May 13.

Slightly higher, $1.78 offers the next noteworthy resistance. This area was inefficiently traded and overlaps with the last significant swing low in mid-March.

Last week, the price bounced from support near $1.30, which could provide support again. This level shows inefficient trading on the monthly chart and is near the midpoint of September 2017’s accumulation.

If this support breaks, bulls could find support near $1.24. This level is at the bottom of an inefficiently traded area on the monthly and weekly charts. It’s also the high point of October 2017’s accumulation range. However, eager bidders should be cautious as a move this low may be targeting bulls’ stops under the swing low at $1.12.

2. Enjin Coin (ENJ)

Enjin Coin ENJ is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores. Enjin Coin is a digital store of value used to back the value of blockchain assets such as non-fungible tokens (NFTs).

ENJ Price Analysis

At the time of writing, ENJ is ranked the 75^th cryptocurrency globally and the current price is US$0.6509. Let’s take a look at the chart below for price analysis:

Source: TradingView

ENJ spent Q2 ranging between 31% over and 23% below. The price is currently consolidating between adjacent resistance and support at $0.6045 with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $0.7295.

This move would likely target the swing high at $0.7612 and relatively equal highs near $0.8349. A sustained bullish trend could reach up to the monthly high near $0.9032.

Bulls may see a sweep of the relatively equal lows near $0.5532 as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $0.4835 and $0.4150.

3. Uniswap (UNI)

Uniswap UNI is a popular decentralised trading protocol known for its role in facilitating the automated trading of decentralised finance (DeFi) tokens. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges. Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems that plagued the first decentralised exchanges.

UNI Price Analysis

At the time of writing, UNI is ranked the 17^th cryptocurrency globally and the current price is US$7.91. Let’s take a look at the chart below for price analysis:

Source: TradingView

UNI‘s 70% retracement from its Q2 highs set a low near $4.20 during its consolidation that began in early June.

Relatively equal highs near $8.00 could be the current target if the price breaks through resistance beginning near $8.67. Bullish continuation may reach through the next significant swing high near $9.35 into the daily gap near $10.50.

If bullish strength continues, the zones just below the monthly open near $10.88 and $11.35 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $6.90 into possible support near $6.12. If this down move occurs, the swing low near $5.20 and possible support near $4.80 may be the primary objective.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

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. 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 107^th cryptocurrency globally and the current price is US$0.05164. Let’s take a look at the chart below for price analysis:

Source: TradingView

ROSE climbed 42% from its Q1 low, then dropped nearly 75% into support last week.

The price is currently testing this support again, near $0.04690. It may provide support again and has confluence with the 61.8% and 78.6% retracements.

Resistance begins just above, at $0.05837. This inefficiently traded area, which reaches slightly beyond $0.06462, contains the monthly open, 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 $0.07190 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 $0.07562, as their next target. Continuation through this level may target another area of bearish rejection on the weekly chart, near the 27% extension from $0.07895 to $0.08065.

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 $0.04341 and $0.03917.

2. Filecoin (FIL)

Filecoin FIL is a decentralised storage system that aims to “store humanity’s most important information”. The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network. Filecoin is an open protocol backed by a blockchain that records commitments made by the network’s participants, with transactions using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime.

FIL Price Analysis

At the time of writing, FIL is ranked the 38^th cryptocurrency globally and the current price is US$5.68. Let’s take a look at the chart below for price analysis:

Source: TradingView

FIL has dropped 77% from its early Q2 highs. It’s now 95% down from its March 2021 all-time high.

The price is currently in a small consolidation range. This range’s lower lows suggest bearishness.

A rally near $6.50 could set the stage for another move lower. This level would provide a run on bears’ stops above the last daily swing high and is above the June monthly open.

A break through this level could reach between $7.60 and $8.35. This zone shows inefficient trading on the weekly and daily charts. It also contains the 40 EMA. Relatively equal highs at the bottom of this zone mark bears’ stops. These stops provide bulls with an attractive target.

Bulls should be careful, however. The price is trending lower, and the current market conditions are bearish. Yet a consolidation near $5.63 could provide at least short-term support. This consolidation followed the last drop lower.

Chaotic price action below this level makes precise levels impossible to determine. Still, bulls could look for support near old swing highs formed in late 2019 near $5.14.

Slightly lower, an area near $4.63 could also cause the formation of a bullish setup. This area is around the midpoint of significant consolidation. It’s also near the origin of 2020’s rally.

3. Siacoin (SC)

Siacoin SC is the native utility token of Sia, a blockchain-based distributed, decentralised cloud storage platform. Sia acts as a secure, trustless marketplace for cloud storage in which users can lease access to their unused storage space. Agreements and transactions are enforced with smart contracts, and Siacoin is the medium of exchange for paying for storage on the network. The main goal of the project is to become the “backbone storage layer of the internet”.

SC Price Analysis

At the time of writing, SC is ranked the 122^nd cryptocurrency globally and the current price is US$0.003962. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 72% decline from April, SC has ranged between $0.003723 and $0.005165.

The recent rally is approaching probable resistance near $0.004930 but could be aiming for stops above the relatively equal highs near $0.005430. Continuation of the bullish move could target the daily gap near $0.006124.

Aggressive bulls might add to positions near $0.003640 and $0.003492. Price action near $0.003272 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $0.003043 seem likely to be swept if the bearish trend resumes. If this move occurs, the price might find support at the significant higher-timeframe level near $0.002675.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.