The native token of the South Korean-based ICON blockchain, ICX, has jumped 70 percent following the election of a new crypto-friendly president.
In the 24 hours following the election of Yoon Suk-yeol, the ICX token went from a low of US$0.61 to a high of US$1.06. It has since retraced some of those gains and currently sits at US$0.83 – still down some 93 percent from its all-time high of US$13.16, reached in January 2018.
I guess the market is quite efficient $ICX 🚀. I'm a bit surprised myself. 🤣
Jokes aside, remember that ICON is GLOBAL, not limited in Korea. The majority of our validators, transactions, dapp teams, etc. are not in Korea. https://t.co/iEN8ppsGs8
Yoon Suk-yeol, who only came to politics in 2021 having previously worked as a high profile prosecutor, was the candidate for the conservative opposition party, People Power Party. His victory was not clear-cut, with the final margin being under 1 percent, reflecting how contentious politics has become in South Korea recently.
Suk-yeol ran on a platform promising to deregulate digital asset markets, lower taxes on crypto and reimburse victims of crypto fraud, in addition to tackling the stagnating South Korean economy and soaring housing prices.
The new president has taken a forward-looking approach to crypto, vowing to take what he characterises as a more realistic regulatory stance:
To realise the unlimited potential of the virtual asset market, we must overhaul regulations that are far from reality and unreasonable.
Newly elected South Korean President Yoon Suk-yeol
Crypto Becoming More Politically Relevant
In a sign of its growing political significance, crypto was used by both major parties to appeal to younger demographics. In addition to offering crypto-friendly policies, the candidates from both major parties minted election-related NFTs to demonstrate their crypto bonafides during the campaign.
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. 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 25th cryptocurrency globally and the current price is US$0.06141. Let’s take a look at the chart below for price analysis:
TRX accompanied the rest of the market during the January drop, falling nearly 45% from its mid-December high until it found a low early in February.
Price action formed a weekly support level near $0.06054, which has so far held up the price. The most recent swing low inside this range, near $0.05829, might be the target for any future stop runs. After this low, the swing low near $0.05689 and the gap beginning near $0.05355 mark possible higher-timeframe support.
The price is currently battling with significant higher-timeframe resistance levels, with the closest probable resistance resting near $0.06892, just over the previous monthly open. A sweep of the relatively equal highs above this resistance might find sellers near $0.07435 – but could reach as high as $0.08037.
2. ICON (ICX)
ICON 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 such as ICON. The ICON blockchain is powered by loopchain, a blockchain engine designed by ICONLOOP.
ICX Price Analysis
At the time of writing, ICX is ranked the 104th cryptocurrency globally and the current price is US$0.7918. Let’s take a look at the chart below for price analysis:
ICX‘s 250% growth during Q4 2021 has continued its grinding downward trend at a steady pace.
At the current price, near the local range’s high, $0.9105 could support a move toward new monthly highs. If the price dips, an area near the range low and 9, 18 and 40 EMAs could provide a better risk-to-reward entry for bulls.
A more significant bearish shift in the market could send the price down to a larger range’s lows near $0.7134 and possibly as far as $0.6807. This area saw a strong reaction during last week’s retracement.
Bulls will likely take some profits near the highs at $0.9273, but the price could continue well beyond the highs. The final target is impossible to predict, but extensions from early 2021’s significant move and the current range suggest that bulls might take more profits near $1.05 and $1.16.
3. 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 39th cryptocurrency globally and the current price is US$18.94. Let’s take a look at the chart below for price analysis:
FIL has retraced nearly 70% since its December highs, with little higher-timeframe support below the current price.
After rejecting resistance at $23.41, the price is crossing below the March open. This area near the monthly open, between $21.46 and $20.97, might form a new resistance.
A break through this level could reach near $22.88. A retest of possible higher-timeframe support near $17.43 could provide a bounce. However, if the price moves under $16.75 and retests it from below, higher timeframes show no remaining support below this region.
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. Coti (COTI)
COTI markets itself as the first enterprise-grade fintech platform that empowers organisations to build their own payment solutions as well as digitise any currency to save time as well as money. COTI is one of the world’s first blockchain protocols that is optimised for decentralised payments and designed for use by merchants, governments, payment DApps, and stablecoin issuers. The ecosystem has a DAG-based blockchain, proof-of-trust consensus algorithm, multiDAG, GTS (Global Trust System), a universal payment solution, and a payment gateway.
COTI Price Analysis
At the time of writing, COTI is ranked the 140th cryptocurrency globally and the current price is A$0.8359. Let’s take a look at the chart below for price analysis:
COTI‘s 189% rally from its September lows spiked through March’s high before going into a minor retracement and consolidation.
Last week’s rapid climb before Tuesday’s mainnet release could be setting up a “sell the news” scenario. However, the price is on possible support beginning near A$0.7955, which has confluence with the 9 EMA.
If this level holds, bulls may be ready to push COTI to its next target. Possible support around the current range low, near A$0.7232, and the 40 EMA might see a stronger reaction from bulls and provide a better risk-to-reward entry.
A sharper downturn in the market – perhaps from a steep BTC retrace – could reach near the 61.8% retracement of September’s move. This area had a strong reaction on October 27. A level near the 79% retracement, around A$0.5085, could also provide support. However, if the price reaches this far, it might signal a longer-term bearish shift.
Final targets are impossible to predict, but extensions from 2021’s significant move and the current leg suggest bulls might take profits near A$1.08, A$1.20, and A$1.58.
2. ICON (ICX)
ICON 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 blockchain is powered by loopchain, a blockchain engine designed by ICONLOOP.
ICX Price Analysis
At the time of writing, ICX is ranked the 80th cryptocurrency globally and the current price is A$3.04. Let’s take a look at the chart below for price analysis:
ICX‘s 300% climb from its June low has continued grinding upward at a steady pace.
At the current price, near the local range’s high, A$3.05 could support a move toward all-time highs. If the price dips, an area near the range low and 9, 18, and 40 EMAs could provide a better risk-to-reward entry for bulls. The Mainnet 2.0 Launch on Thursday could be the catalyst by causing some investors to take profits, prompting a retracement.
Like COTI, a more significant bearish shift in BTC could send the price down to a larger range’s lows near A$2.34 and possibly as far as A$2.07. This area saw a strong reaction in October 27’s retracement.
Bulls will likely take some profits near the highs at A$3.98, but the price could continue well beyond the highs. The final target is impossible to predict, but extensions from early 2021’s significant move and the current range suggest that bulls might take more profits near A$5.31 and A$5.98.
3. Secret (SCRT)
Secret SCRT is the native coin of the Secret Network, a decentralised network for private/secure computation. Nodes on the network (known as secret nodes) can perform generalisable computations over encrypted data, which allows smart contracts (known as secret contracts) to use private and sensitive data as inputs. Our focus is on computational privacy, not just transactional privacy. Developers can build decentralised, privacy-preserving “Secret Apps” on the network. The privacy functionality of the Secret Network is critical for many fields, including decentralised finance, Web3, machine learning, access control, and many more.
SCRT Price Analysis
At the time of writing, SCR is ranked the 86th cryptocurrency globally and the current price is A$12.05. Let’s take a look at the chart below for price analysis:
SCRT‘s stunning 1,344% move from its July low could have more room to run. However, the price is distancing itself from quality higher-timeframe support.
Near the current price, A$12.03 could give resistance before any next leg up as bulls bid near the 9 EMA. However, the consolidation under the last swing high near A$9.29 and the 61.8% retracement is a better candidate for robust support. The Shade Protocol snapshots, which start this Sunday, could help support the price hold this range by encouraging investors not to sell.
Closer to the 78.6% retracement, just under the 40 EMA, and near the last impulse’s range low, A$7.80 could provide more substantial support for another significant swing.
Price is currently finding resistance near an extension from 2018’s bull run. If the bulls flip this level, extensions on 2021’s move suggest that they might take their next profits near A$15.67 and A$17.27.
Where to Buy or Trade Altcoins?
These 3 Altcoins have the highest liquidity on Binance Exchange so that would help for trading on USDT or BTC pairs. However, if you’re just looking at buying some quick and HODLing, then Swyftx Exchange is a 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. Cardano (ADA)
Cardano ADA is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals”, helping to create a society that is more secure, transparent, and fair.
Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.
ADA Price Analysis
At the time of writing, ADA is ranked the 4th cryptocurrency globally and the current price is A$3.08. Let’s take a look at the chart below for price analysis:
ADA‘s nearly 47% retracement from its late August high found a low near A$2.93 in late September.
The price is currently approaching resistance at a swing high near A$3.15. If this level breaks, bulls might target the swing highs near A$3.23, A$3.29, and potentially up to A$3.34. Resistance near A$3.39 and A$3.46 could cap this move.
If the market remains bullish for the near term, bulls might buy at A$3.10. However, a stop run into A$2.91 could offer a higher probability entry. A steeper drop could reach below the swing low into possible support near $2.85.
2. Chromia (CHR)
Chromia CHR is an open-source public blockchain conceived of by Swedish company Chromaway AB. The Chroma token (CHR) was launched in May 2019. The technology behind the Chromia blockchain is adapted from an earlier technology called ‘Postchain’, a solution provided by Chromaway AB for enterprise clients. Chromia is a standalone Layer-1 blockchain and EVM compatible Layer-2 enhancement for Binance Smart Chain and Ethereum. It is designed to enhance existing dApps and allow for the creation of next-generation dApps by providing scalability, improved data handling, and customisable fee structures.
CHR Price Analysis
At the time of writing, CHR is ranked the 318th cryptocurrency globally and the current price is A$0.4771. Let’s take a look at the chart below for price analysis:
CHR‘s chart paints a different picture than those of many other altcoins, with August’s high leading to a massive range before setting a low near A$0.3544 in September.
The beginning of October makes immediate bids questionable. However, the price may be finding support near A$0.3862 and possibly near A$0.3421. Since the price swept the impulse’s high at A$0.4859, bulls might be waiting to enter near the swing low and gap near A$0.4166, or slightly lower near A$0.3698.
Little resistance lies overhead, although some resistance might exist between A$0.5273 and approximately A$0.5622, just above the current price. A sweep and rejection of the high near A$0.6107 would make most areas of possible support highly suspect and could mark the end of the bullish trend.
3. ICON (ICX)
ICON 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 blockchain is powered by loopchain, a blockchain engine designed by ICONLOOP.
ICX Price Analysis
At the time of writing, ICX is ranked the 75th cryptocurrency globally and the current price is A$3.08. Let’s take a look at the chart below for price analysis:
Like many other altcoins, ICX set a high in early April before retracing 83% to the low at A$1.27 in June.
Price broke through resistance near A$2.89, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near A$2.76. However, a drop this far increases the chances of a stop run to A$2.70 and possibly into support near A$2.66. For now, continuing bullish market conditions could help A$2.85 become support.
The swing high around A$3.14 gives bulls a reasonable first target, with A$3.20 also likely to draw the price upward. Higher-timeframe resistance beginning near A$3.27 or A$3.30 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near A$3.38.
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. 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 126th cryptocurrency globally and the current price is A$0.005217. Let’s take a look at the chart below for price analysis:
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 28th cryptocurrency globally and the current price is A$0.09369. Let’s take a look at the chart below for price analysis:
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 94th cryptocurrency globally and the current price is A$1.62. Let’s take a look at the chart below for price analysis:
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?
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. 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 such as ICON. The ICON blockchain is powered by loopchain, a blockchain engine designed by ICONLOOP.
ICX Price Analysis
At the time of writing, ICX is ranked the 104th cryptocurrency globally and the current price is A$1.85. Let’s take a look at the chart below for price analysis:
During August, ICX broke several swing highs that could be the signal for a new bullish trend.
Last week’s break of the most recent swing low could suggest some downside in the short term. It formed probable resistance near A$1.93 and may target the swing low and possible support near A$1.72.
The swing low and possible support near A$1.48 could be the second bearish target if the move down continues. The relatively equal lows near A$1.38 and possible support underneath, near A$1.29, could provide more substantial support.
The last swing high near A$2.21 gives a near-term target if bullish continuation continues. However, resistance beginning around A$2.24 could cap this move. A break of this resistance might continue to probable resistance near A$2.93 and reach above the cluster of relatively equal highs near A$3.13.
2. Raydium (RAY)
Raydium RAY is an automated market maker AMM and liquidity provider built on the Solana blockchain for the Serum decentralised exchange DEX. Unlike any other AMMs, Raydium provides on-chain liquidity to a central limit orderbook, meaning that funds deposited into Raydium are converted into limit orders which sit on Serum’s orderbooks. This gives Raydium LPs access to all of Serum’s order flow as well as their existing liquidity.
RAY Price Analysis
At the time of writing, RAY is ranked the 220th cryptocurrency globally and the current price is A$16.46. Let’s take a look at the chart below for price analysis:
Mid-July marked a turning point for RAY, with the price rocketing up almost 425% from its lows to probable resistance beginning near A$17.58.
The price is currently struggling with the area between A$11.75 and A$15.39. This region could provide support after a close above, or resistance after a close below.
A retracement could reach into the daily gap and possible support around A$13.94. A more bearish shift in the marketplace will likely aim for the relatively equal lows near A$9.17, and the potential support just below that begins around A$8.88.
Continuation to the upside will likely target the all-time high near A$22.34. However, probable resistance beginning at A$17.58 and A$20.82 could cap or slow down this move.
3. Zilliqa (ZIL)
Zilliqa ZIL is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralised applications, and it also allows for staking and Yield farming. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.
ZIL Price Analysis
At the time of writing, ZIL is ranked the 84th cryptocurrency globally and the current price is A$0.1489. Let’s take a look at the chart below for price analysis:
In mid-July, ZIL also turned the corner, breaking a key swing high in early August. This move could suggest a longer-term bullish trend.
The swing high near A$0.2155 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near A$0.2603.
Even if the bullish trend continues, a stop run at the recent swing low near A$0.1473 into possible support beginning near A$0.1496 is reasonable. If the price reaches further down, the swing low and possible support near A$0.1154 might provide another downside target.
The area near A$0.08936 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near A$0.07142 into possible support beginning around A$0.06199.
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. Cardano (ADA)
Cardano ADA is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals”, helping to create a society that is more secure, transparent and fair. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.
ADA Price Analysis
At the time of writing, ADA is ranked the 3rd cryptocurrency globally and the current price is A$4.04. Let’s take a look at the chart below for price analysis:
ADA‘s 160% rally during the last month recently swept the May highs at A$3.43. The daily close over these highs might show that bulls plan to continue the move. If so, aggressive bulls might add more to their positions near A$3.51, with A$3.29 and A$3.13 also providing possible support.
Predicting the end of the current bullish trend is impossible. Still, extensions suggest that A$3.80, A$3.98 and A$4.18 provide reasonable near-term areas to take profits.
A bearish shift in the marketplace could drive the price down much further. If so, the swing low at A$2.60 offers a tempting target. If this stop run occurs, the price could drop further into possible support at a confluence of high-timeframe levels near A$2.22.
2. 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 such as ICON. The ICON blockchain is powered by loopchain, a blockchain engine designed by IconLoop.
ICX Price Analysis
At the time of writing, ICX is ranked the 94th cryptocurrency globally and the current price is A$2.15. Let’s take a look at the chart below for price analysis:
ICX‘s recent sweep and close over the cluster of highs near A$1.86 could suggest it’s ready to kick off a new bullish trend. However, hopeful bulls should be wary of rejection near the current area that could push the price back into its three-month range.
The old highs and daily gap near A$1.88 might support the price if bulls are ready to push up from the range. The levels at A$2.06, A$2.30, A$2.58 and possibly up to A$2.97 offer reasonable areas to take profits and watch for signs of bearish reversal.
A bearish shift in the marketplace could prompt a stop run to the layered swing lows at A$1.50, A$1.39 and A$1.31. If this stop run occurs, bulls could look for support near the significant weekly zone between A$1.22 and A$1.15.
3. NewsCrypto (NWC)
The NewsCrypto token NWC is the native token of the NewsCrypto ecosystem, which offers a comprehensive set of indicators, educational resources, and entertainment for everyone from novice traders to experts in crypto. The project aims to offer everything that a crypto trader needs in one place, while also creating a community-focused ecosystem where users can learn from each other and earn NWC for posting quality content. The NWC token is used to unlock access to the online platform, which is focused on interactive education on blockchain technology and cryptocurrency trading.
NWC Price Analysis
At the time of writing, NWC is ranked the 318th cryptocurrency globally and the current price is A$1.28. Let’s take a look at the chart below for price analysis:
NWC‘s 80% drop from May to July may have found a range low near A$0.61. The recent break and continuation through the short-term highs near A$1.05 and A$1.10 suggest some bullish strength.
Bulls are likely to take some profits near the high end of the current range. The areas near A$1.36 and A$1.55 offer some confluence for resistance. The swing high near A$1.60 might be the current target, followed by possible continuation up to A$1.86 and into resistance near A$1.89.
Aggressive bulls might bid near the last high and daily gap around A$1.14. However, a drop to possible support around A$1.02 is reasonable. A market-wide retracement could send the price down to sweep relatively equal lows near A$0.84. If this stop run occurs, the price could find support between A$0.83 and A$0.61.
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.
