Category: IOTA

Top 3 Coins to Watch Today: IOTA, QNT, TRU – June 30 Trading Analysis

Post author By Malik Junaid
Post date June 30, 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. IOTA (MIOTA)

IOTA is a distributed ledger with one big difference – it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind the platform says this offers far greater speeds than conventional blockchains, and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked the 55^th cryptocurrency globally and the current price is US$0.2712. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 70% decline during Q2, IOTA has ranged between $0.2633 and $0.3503. The recent rally was approaching probable resistance near $0.4045 but could be aiming for stops above the relatively equal highs near $0.4320. Continuation of the bullish move could target the daily gap near $0.4835.

Aggressive bulls might add to positions near $0.2740 and $0.2644. Price action near $0.2460 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $0.2235 seem likely to be swept if the bearish trend resumes. If this move occurs, the price may find support at the significant higher-timeframe level near $0.1955.

2. Quant (QNT)

Quant QNT launched with the goal of connecting blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It is the first project to solve the interoperability problem through the creation of the first blockchain operating system. The main aim of Quant – using Overledger – is to bridge the gap that exists between different blockchains. The backbone of the project is the Overledger network, which Quant bills as the ecosystem on which the future digital economy ecosystem will be built.

QNT Price Analysis

At the time of writing, QNT is ranked the 63^rd cryptocurrency globally and the current price is US$53.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

Q1 marked a turning point for QNT, with the price gaining almost 60% from its lows to probable resistance beginning near $146.30.

The price is currently struggling with the area between $48.80 and $60.33. 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 $45.41. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $42.65, and the potential support just below that begins around $39.34.

Continuation to the upside will likely target the monthly high near $66.19. However, probable resistance beginning at $72.77 and $80.30 could cap or slow down this move.

3. TrueFi (TRU)

TrueFi TRU is a protocol for creating interest-bearing pools with a high APR for liquidity providers. TrueFi includes utility and rewards mechanisms using TrustTokens and rewards participants for maintaining stable, high APRs. TRU is the native token of the TrueFi protocol and TrustToken holders ultimately have a say over who is a credible borrower in the prediction market. TRU gives the holder the ability to rate credit for third parties.

TRU Price Analysis

At the time of writing, TRU is ranked the 429^th cryptocurrency globally and the current price is US$0.06499. Let’s take a look at the chart below for price analysis:

Source: TradingView

TRU‘s chart paints a different picture than many other altcoins, with April’s high leading to a massive range before setting a low near $0.05655 in June.

The nearly 36% spike at the beginning of June makes immediate bids questionable. However, the price may be finding support near $0.06016 and possibly near $0.05742. Since the price swept the impulse’s high at $0.07536, bulls might be waiting to enter near the swing low and gap near $0.05260, or slightly lower near $0.04790.

Little resistance lies overhead, although some resistance might exist between $0.06995 and approximately $0.07417, just above the current price. A sweep and rejection of the high near $0.08345 would make most areas of possible support highly suspect and could mark the end of the bullish trend.

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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.

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Top 3 Coins to Watch Today: IOTA, QNT, RSR – March 16 Trading Analysis

Post author By Malik Junaid
Post date March 16, 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. IOTA (MIOTA)

IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind the platform says this offers far greater speeds than conventional blockchains – and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked the 50^th cryptocurrency globally and the current price is US$0.6993. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 40% decline during February, IOTA has ranged between $0.7833 and $0.6503.

The recent rally was approaching probable resistance near $0.8145 but could be aiming for stops above the relatively equal highs near $0.8620. Continuation of the bullish move could target the daily gap near $0.9135.

Aggressive bulls might add to positions near $.7140 and $0.6944. Price action near $0.6740 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $0.6635 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 $0.6155.

2. Quant (QNT)

QNT Price Analysis

At the time of writing, QNT is ranked the 67^th cryptocurrency globally and the current price is US$112.53. Let’s take a look at the chart below for price analysis:

Source: TradingView

February marked a turning point for QNT, with the price gaining almost 55% from its lows to probable resistance beginning near $156.30.

The price is currently struggling with the area between $129.80 and $108.33. 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 $102.41. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $98.65, and the potential support just below that begins around $91.34.

Continuation to the upside will likely target the monthly high near $136.19. However, probable resistance beginning at $142.77 and $150.30 could cap or slow down this move.

3. Reserve Rights (RSR)

Reserve Rights RSR is a dual-token stablecoin platform that was launched in May 2019 following a successful initial exchange offering (IEO) on the Huobi Prime platform. Reserve Rights’ dual token setup includes a stablecoin known as the Reserve stablecoin (RSV), which is backed by a basket of assets managed by smart contracts. The second token is the Reserve Rights token (RSR), which is used to keep the RSV stable at its $1.00 price target through a system of arbitrage opportunities.

RSR Price Analysis

At the time of writing, RSR is ranked the 268^th cryptocurrency globally and the current price is US$0.01203. Let’s take a look at the chart below for price analysis:

Source: TradingView

RSR has retraced approximately 72% as the price hovers over possible support beginning near $0.01208.

The significant number of lows in this area will likely see a stop run before any potential move higher. The gap at $0.01190 could provide support for a shallow stop run.

However, lows near $0.01179 also provide a tempting downside target if bitcoin begins a bearish trend. Under these lows, bulls might find support near $0.01153 – or as low as $0.01125 if the market sees a sustained bearish move.

The confluence of levels near $0.01294 that surround the monthly open may provide some resistance, particularly if reached before a run of the lows near $0.01322.

Should the bullish trend resume, $0.01369 may provide some resistance before running the swing highs at $0.01400 and $0.01435.

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Top 3 Coins to Watch Today: DOT, XLM, IOTA – February 10 Trading Analysis

Post author By Malik Junaid
Post date February 10, 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. Polkadot (DOT)

Polkadot DOT is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. Polkadot’s native DOT token serves three clear purposes: providing network governance and operations, and creating parachains by bonding. The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain.

DOT Price Analysis

At the time of writing, DOT is ranked the 11^th cryptocurrency globally and the current price is US$21.99. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT has retraced nearly 55% since its high in early January, showing little sign of interest from buyers.

February’s consolidation at possible support from $20.68 to $21.57 broke down with the rest of the market last week, turning this into likely resistance on future retests. This area now has confluence with the 9 and 18 EMAs.

If market conditions turn and this resistance breaks, an area near the midpoint of December’s consolidation range and the 2021 open, near $28.70, and the high of December’s consolidation range, near $32.88, might see profit-taking from bulls.

The first test of possible support near $17.40 showed some sensitivity. Still, continued bearishness in the market will likely cause a break of this level.

A break of this support might continue to drop to the next possible support near $15.37, running stops under July’s swing low.

If this level gives support and begins a consolidation forming a bottom, bulls might wait for a wick below to possible support from $13.16 to $10.47 at the high of 2020’s consolidation range.

2. Stellar (XLM)

Stellar XLM is an open network that allows money to be moved and stored. When it was released, the goal was boosting financial inclusion by reaching the world’s unbanked – but soon after, its priorities shifted to helping financial firms connect with one another through blockchain technology. The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers who often charge high fees for a similar service.

XLM Price Analysis

At the time of writing, XLM is ranked the 30^th cryptocurrency globally and the current price is US$0.2412. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM set a high near $0.4157 in November before retracing nearly 75% to find a low near $0.2080. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near $0.2678 is slowing the bullish advance down. However, another leg might target the last swing high at $0.3022 and relatively equal highs at $0.3336. Resistance near $0.3659 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near $0.3926.

A retracement before a move higher might find support in the daily gap near $0.2143, just above the monthly open. Relatively equal lows near $0.1975 could also provide support. Run-on stops at $0.1816 and $0.1731 might find support in the gap beginning near $0.1670 or a high-timeframe level near $0.1520.

3. IOTA (MIOTA)

IOTA Price Analysis

At the time of writing, IOTA is ranked the 47^th cryptocurrency globally and the current price is US$1.03. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 70% decline during January, IOTA has ranged between $0.9533 and $0.8203.

The recent rally is approaching probable resistance near $1.25 – but could be aiming for stops above the relatively equal highs near $1.20. Continuation of the bullish move could target the daily gap near $1.35.

Aggressive bulls might add to positions near $1.00 and $0.9844. Price action near $0.9340 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $0.8935 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 $0.8255.

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IOTA Launches a ‘DeFi Operator’s Wet Dream’, Smart Contracts with Zero Fees

Post author By Robert Drage
Post date October 23, 2021

The IOTA Foundation has recently launched its beta for smart contracts allowing developers to set their own execution fees, a feature expected to suppress fees to near-zero.

According to an announcement on the IOTA blog, the blockchain’s beta release will give builders “limitless possibilities to build decentralised applications [dApps] and other Web3 innovations”.

‘Near-Zero’ Execution Cost for Smart Contracts

The new layer aims to address some existing problems with fees, scalability, interoperability and limited composability, and introduce some innovations not yet seen in the space.

Thanks to IOTA’s feeless 1000 transaction-per-second base layer acting as a trustless atomic bridge for smart contracts, a smart contract chain can define its own incentives and fees (potentially even feeless), offering new possibilities to get mainstream adoption with dApps. Smart contract chains can be built on top of IOTA with their own specifications, allowing service providers such as governments to execute smart contracts with no fees.

This dynamic pricing creates an incentive to drive fees down, since different chains can now compete for the work of executing a smart contract. By allowing several chains to compete for work, it’s presumed it will lead to “near-zero or even zero-fees” to execute smart contracts on the platform.

Try a #smartcontract!
The beta release of programmable smart contracts is available on the #IOTA 2.0 DevNet:
🔥 Native Assets on layer 1 for trustless & feeless bridges
🔥 Flexible development environment for tailoring Apps
🔥 Incentivized scalabilityhttps://t.co/YSBib3LC3K pic.twitter.com/qvZLzS0i89
— IOTA (@iota) October 21, 2021

The possibility for chains to compete for the ‘work’ of executing a smart contract creates an additional incentive to push execution fees to their absolute minimum – including zero. Non-zero fees are payable in whatever form the chain owner demands, giving additional flexibility. In a nutshell, it is a DeFi operator’s ‘wet dream’.
Dominik Schiener, co-founder and chairman, Iota Foundation

The smart contract service aims to foster interoperability and standardisation by integrating the Ethereum Virtual Machine (EVM) to write smart contracts, as well as an additional tool to help with the standardised portions of a smart contract. Developers will be able to write in various programming languages including Tiny Go, Rust, and Ethereum’s Solidity.

Smart contract chain developers have full flexibility to define their chain and tokenomics. In the future they could even set transaction fees to zero and instead reward validators with their native tokens, thus creating their own economies and massively reducing entry barriers for their dApps.

A Scaling Solution for Smart Contracts

IOTA smart contracts is a sharded smart contract network, where each smart contract chain is limited by its own scalability and is not hindered by the rest of the network. What IOTA does is spin different networks on top of its base layer so the smart contracts that run on those networks can talk to each other. This means they can transfer assets from one blockchain network to another.

A good way to think about it, Schiener says, is that “there might be one main open network where anybody can deploy a smart contract. But if you want to use another network with different characteristics, or even spin out your own, that’s also possible.”

IOTA smart contracts also enable the feeless transfer of assets across chains, which offers the IOTA ecosystem – and anyone else interested – unprecedented opportunities in terms of utility, composability, and scalability.
Dominik Schiener, co-founder and chairman, Iota Foundation

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Top 3 Coins To Watch Today: IOTA, ONE, WAN – September 15 Trading Analysis

Post author By Malik Junaid
Post date September 15, 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. IOTA (MIOTA)

IOTA Price Analysis

At the time of writing, IOTA is ranked the 40^th cryptocurrency globally and the current price is A$1.53. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 61% decline from May to June, IOTA has ranged between A$1.24 and A$1.03.

The recent rally is approaching probable resistance near A$1.72 – but could be aiming for stops above the relatively equal highs near A$1.79. Continuation of the bullish move could target the daily gap near A$1.87.

Aggressive bulls might add to positions near A$1.47 and A$1.44. Price action near A$1.40 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around A$1.38 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 A$1.32.

2. Harmony (ONE)

Harmony ONE is a blockchain platform designed to facilitate the creation and use of decentralised applications (DApps). The network aims to innovate the way decentralised applications work by focusing on random state sharding, which allows creating blocks in seconds. Focusing on processing speed and validation, the Harmony mainnet aims to revolutionise block creation. By introducing the sharding process, the company reduced node validation times significantly.

ONE Price Analysis

At the time of writing, ONE is ranked the 67^th cryptocurrency globally and the current price is A$0.1728. Let’s take a look at the chart below for price analysis:

Source: TradingView

ONE‘s 85% retracement from its May highs set a low near A$0.0922 during its consolidation that began in July.

Relatively equal highs near A$0.1855 could be the current target if the price breaks through resistance beginning near A$0.1903. Bullish continuation might reach through the next significant swing high near A$0.2158 into the daily gap near A$0.2496.

If bullish strength continues, the zones just below the monthly open near A$0.2530 and A$0.2614 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near A$0.1624 into possible support near A$0.1588. If this down move occurs, the swing low near A$0.1436 and possible support near A$0.1369 may be the primary objective.

3. Wanchain (WAN)

Wanchain WAN is a distributed ledger that allows for cross-chain transactions and the interoperability of multiple chains. Although Wanchain facilitates transactions between blockchains, it is also a stand-alone blockchain that runs autonomously. The protocol acts as a distributed ledger that processes and maintains records of cross-chain transactions.

WAN Price Analysis

At the time of writing, WAN is ranked the 294^th cryptocurrency globally and the current price is A$1.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

After retracing nearly 70% from its May high, WAN set a low near A$0.9542 as it formed its current range.

Last week, the price swept highs near A$1.53, which now also marks the September monthly high. Relatively equal daily highs near A$1.35 provide a reasonable target, although resistance beginning near $1.37 could cap the move. A break of this resistance is likely to target the swing high near A$1.45 into higher-timeframe resistance beginning near A$1.42.

The current area near A$1.25 could provide support, although bulls may be more likely to buy near the price fractal near A$1.20 if a retracement reaches this level. A break of this area could continue down to sweep the July low near A$1.17 into possible support beginning near A$1.13.

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Top 3 Coins To Watch Today: IOTA, DOT, FIL – September 9 Trading Analysis

Post author By Malik Junaid
Post date September 9, 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. IOTA (MIOTA)

IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains – and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked the 36^th cryptocurrency globally and the current price is A$2.14. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the beginning of June, IOTA 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$1.33, which is the daily high of the last swing low. The high of the wick beginning near A$1.78 may also provide support. However, bulls will likely remain wary of the current downtrend, making the low at A$1.89 likely to be the next bearish target.

Just above, the daily gap beginning near A$2.28 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$2.39 – perhaps running to probable resistance near A$2.47. Strength above this level might signal the start of a bullish trend, encouraging bulls to “buy the dip”.

2. Polkadot (DOT)

Polkadot DOT is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. This interoperability seeks to establish a fully decentralised and private web, controlled by its users, and simplify the creation of new applications, institutions and services. The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain.

DOT Price Analysis

At the time of writing, DOT is ranked the 10^th cryptocurrency globally and the current price is A$37.95. Let’s take a look at the chart below for price analysis:

Source: TradingView

Bulls are buying DOT at each drop into support near A$36.77, with higher lows forming each time. However, the equal lows near A$32.41 can create an attractive target for a stop run. Still, bulls might buy this dip near possible support beginning at A$28.13.

Just over the June monthly open, A$40.24 marks the beginning of a probable resistance zone. A breakthrough in this area might target the equal highs near A$42.67 before running into possible resistance near A$44.76.

A sustained move upward – perhaps from a market-wide bullish shift – could reach the swing high near A$48.13 before encountering probable resistance near A$51.63.

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 and backed by a blockchain that records commitments made by the network’s participants, with transactions made 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 19^th cryptocurrency globally and the current price is A$122.82. Let’s take a look at the chart below for price analysis:

Source: TradingView

During five days in May, FIL dumped over 86% before finding support near A$81.34. 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$98.24 before running the swing high at A$105.14. If this bullish move occurs, the price could reach resistance near the June monthly open around A$135.56 – and even sweep the swing high near A$141.72.

Some support might exist at the daily gap near A$113.45. A move this low would also fill the June monthly gap and set the stage for a possible bullish reversal.

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Top 3 Coins To Watch Today: DOT, XTZ, IOTA August 11 Trading Analysis

Post author By Malik Junaid
Post date August 11, 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. Polkadot (DOT)

Polkadot DOT is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain,

DOT Price Analysis

At the time of writing, DOT is ranked the 9^th cryptocurrency globally and the current price is A$28.02. Let’s take a look at the chart below for price analysis:

Source: TradingView

After its early Q2 bullrun, DOT has been ranging between approximately A$21.05 and A$32.45.

Last week’s sharp decline ran equal lows into a gap on the daily chart. This down move could set the stage for an attack on the relatively equal highs near A$29.34 if the price can break probable resistance near A$32.78 and A$34.21.

Above these highs, resistance near A$39.54 could halt a bullish move, although reaching the monthly high at A$45.32 is possible.

Aggressive bulls might look for entries in possible support near A$25.86 and A$24.00, just below the current price. If the price sweeps last week’s low, the levels near A$23.59 and A$21.48 may also provide support.

2. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 45^th cryptocurrency globally and the current price is A$4.35. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ’s spectacular May pump has retraced most of its gains as it finds support near A$3.47.

Stops under the relatively equal lows near A$4.12 might be swept, along with the swing low near A$3.89. If this sweep happens, the price could find support near A$3.55. A move further down could find more support near A$3.27.

Spikes upward are likely to encounter resistance beginning near A$4.88. If the bullish trend resumes after re-accumulation, some traders might take profits as the price approaches probable resistance starting around A$5.13 and A$5.38.

The monthly peak near A$6.12 provides a clear first primary target. Any price moves beyond this level are challenging to predict from current price action for the short-term trade.

3. MIOTA (IOTA)

IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked the 47^th cryptocurrency globally and the current price is A$1.30. Let’s take a look at the chart below for price analysis:

Source: TradingView

The second half of May punished IOTA bulls with a nearly 72% drop before the price found support near an old swing low around A$1.05.

Aggressive bulls might look for entries at possible support beginning near A$1.15. However, stops under the equal lows near A$0.9355 are likely to be swept.

The area near A$1.00 provides a possible target for this stop run if it occurs. A more sustained bearish trend could reach down to the broad zone of possible support between A$0.8945 and A$0.8236.

The price is currently challenging resistance at a gap beginning near A$1.49. If this level breaks, bulls could find more resistance near A$1.65 while targeting the highs up to A$1.77.

A sweep of these highs is likely to find resistance by the time price reaches the area near A$1.96. The next reasonable targets would be the swing highs and resistance near A$2.31 and A$2.54.

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Top 3 Coins To Watch Today: DOT, ONT, MIOTA – July 20 Trading Analysis

Post author By Malik Junaid
Post date July 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. Polkadot (DOT)

Polkadot DOT is an open-source sharing multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable. The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain.

DOT Price Analysis

At the time of writing, DOT is ranked the 9^th cryptocurrency globally and the current price is A$15.65. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT set a new low in its downtrend last week, reaching a nearly 77% retracement from its May high.

The most recent move down found some support in the daily gap beginning near A$16.05, although this level is unlikely to end the bear trend. The weekly level around A$13.63 may offer more substantial support. Continuation to the monthly level near A$9.78 provides a higher probability target for the current bear trend.

Resistance begins near the current level at A$17.43, which might be tapped this week or next week before the next leg is lower. A more substantial rally could reach the consolidation beginning around A$19.68.

Any sustained bullish move in Bitcoin might prompt a stop run above the swing high at A$24.11. This price also marks a resistance level on the weekly chart.

2. Ontology (ONT)

Ontology ONT is a high-performance, open-source blockchain specialising in digital identity and data. Ontology’s unique infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering businesses the flexibility to design a blockchain that suits their needs. With a suite of decentralised identity and data sharing protocols to enhance speed, security, and trust, Ontology’s features include ONT ID, a mobile digital ID application and DID use throughout the ecosystem, and DDXF, a decentralised data exchange and collaboration framework.

ONT Price Analysis

At the time of writing, ONT is ranked the 94^th cryptocurrency globally and the current price is A$0.8311. Let’s take a look at the chart below for price analysis:

Source: TradingView

ONT found a low during late June inside weekly support after a nearly 83% drop.

Bulls could step in on the current retest of this region again, with A$0.82 possibly becoming support on the daily chart. However, a sweep of the equal lows near A$0.69, perhaps reaching A$0.57, is likely before any significant bullish trend reversal. If this stop run occurs, bulls might enter near A$0.56.

A break of the resistance near A$0.92 could continue through the July monthly open to run the relatively equal highs clustered just beneath the A$1.07 swing high. If this retracement occurs, high-timeframe resistance near A$1.14 and A$1.19 may be the target before the price resumes its downtrend or begins a higher-timeframe reversal.

If the market shifts to more bullish conditions, the swing high near A$1.91 and a wide area of resistance near A$1.84 will likely cap the first impulse.

3. IOTA (MIOTA)

IOTA is a distributed ledger with one big difference – it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains – and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked the 45^th cryptocurrency globally and the current price is A$0.8666. Let’s take a look at the chart below for price analysis:

Source: TradingView

After dropping nearly 77% from its April highs, IOTA hovers near its June low at around A$0.85.

While the downtrend continues, bulls might find some support near A$0.74, the approximate bottom of the monthly gap. However, while the market stays bearish, continuation to the weekly level at A$0.64 and the monthly level near A$0.51 seems likely.

Short-term rallies might reach A$1.04, although a more substantial retracement of the bearish trend could run the swing high into resistance around A$1.27. If the markets turn more bullish, the rally could run the swing highs at A$1.60 and A$2.02.

If this move occurs, the daily gap and monthly level near A$2.27 may provide a ceiling.

Where to Buy or Trade Altcoins?

These three coins have the 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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3 Coins that Might Breakout this Week: ICX, MIOTA, WIN – Altcoins Trading Analysis

Post author By Malik Junaid
Post date April 20, 2021

For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.

1. ICON (ICX)

ICON is a decentralized 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.

ICX Price Analysis

At the time of writing, ICX is ranked 79^th cryptocurrency globally and the current price is $2.73 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

During the weekend it swung around $2.4150 AUD as it tested support near $2.1201 AUD.

Aggressive traders expecting expansion to the upside could look for entries near possible support around $2.2762 AUD. Bids near $2.1201 AUD may be able to capitalize on an attempt to run the stops below the weekend’s swing low. A stop run below this low may reach into possible support near $1.9500 AUD.

In the short term, $2.9426 AUD may provide some resistance. The swing high near $3.2700 AUD looks like a first target, with the area just above up to $3.5500 AUD possibly creating resistance.

A break out of this zone would make the March high at $3.6170 AUD a more likely target, with further expansion possibly reaching near $5.3226 AUD.

2. IOTA (MIOTA)

IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, it relies on a technology known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked 24^th cryptocurrency globally and the current price is $2.68 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

The weekend’s 31% drop was immediately bought up and closed the day bullish, suggesting strength for IOTA bulls.

Aggressive traders could look for support near $2.4215 AUD. Levels near $2.2970 AUD, $2.1851 AUD, and $1.9773 AUD also provide areas for bids during a retracement.

Little resistance rests overhead, but the area between $2.8593 AUD and the swing high at $2.9773 AUD may cap an initial move upward. Extensions seem to indicate $3.2283 AUD and $3.8425 AUD as take-profit zones.

3. WINK (WIN)

WINk is a gaming platform for users to play socialize and stake across multiple blockchain ecosystems that leverages the WIN token as the native digital asset within the platform. Through behavioural mining, innovative token economy design and other incentive mechanisms, WINk aims to build an ecosystem that provides a high-quality decentralized gaming experience. This would enable developers to build DApps that drive genuine adoption, engaging users to participate and contribute as active stakeholders in the platform.

WIN Price Analysis

At the time of writing, WINK is ranked 134^th cryptocurrency globally and the current price is $0.0017 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

An impressive 463% month for WIN has retraced over 56% as the price consolidates near the weekly gap beginning near $0.001701 AUD.

The equal lows at this weekly gap might see a stop run before any further move up. The area near $0.00109 AUD at the top of a daily gap could provide support.

The bottom of the gap seems a more likely support, ranging from approximately $0.0009664 AUD to the consolidation that started the massive move upward. If this level fails, traders could look for sensitivity near the middle of the monthly gap near $0.0006308 AUD.

Impulses upward during retracement are possible, but the most substantial resistance seems just below the April swing high near $0.002971 AUD. This swing high provides a clear first target, with any targets beyond challenging to predict.

Where to Buy or Trade Altcoins?

These 3 Altcoins have the highest liquidity on Binance Exchange so that could help for trading on USDT or BTC pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.

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Altcoins Trading Analysis – 3 Coins that Might Breakout Today: IOTA, UNI, ZIL

Post author By Malik Junaid
Post date December 21, 2020

For today’s trading news, we’re looking at three altcoins that might breakout by showing bullish trends in the charts.

1. IOTA (MIOTA)

IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked 31st cryptocurrency globally and the current price is $0.4395 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

The first half of December retraced most of IOTA’s November gains – but are bulls accumulating for the next move upward? Last Friday, the price bounced from a significant weekly level near $0.3758 AUD as it swept stops below the low near $0.3852 AUD. This move could be setting the stage for the first crack at resistance just under the December monthly open near $0.4105 AUD.

If this price move occurs, bulls will likely find entries at probable support near $0.3758 AUD – confluent with a significant monthly level. If this level breaks instead, bulls can anticipate support near the consolidation range’s midpoint around $0.3471 AUD.

A break of the monthly open makes the relatively equal highs near $0.4961 AUD a likely target. Continuation from this level could lead to the next resistance near $0.5247 AUD and on to the monthly high at $0.5562 AUD.

2. UniSwap (UNI)

UniSwap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized 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.

UNI Price Analysis

At the time of writing, UNI is ranked 29th cryptocurrency globally and the current price is $5.08 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

UNI’s chart paints a similar picture to IOTA’s setup, with last Friday’s price bouncing from the support near 3.82 AUD.

The daily chart shows a gap from $4.56 to $4.39 AUD. Price tends to fill gaps quickly. This phenomenon means that bulls could anticipate a move through the gap and relatively equal highs near $4.39 AUD towards the resistance at monthly open around $4.64 AUD.

A retest of probable support at $4.23 AUD would give bulls an entry to target a move toward the highs. If the price sweeps the most recent swing low first, this could provide a lower-risk entry opportunity near $3.91 AUD.

Breaking the monthly open adds the relatively equal highs near $6.22 AUD to the list of targets, with a move through this level possibly continuing to the November monthly high near $6.79 AUD.

3. Zilliqa (ZIL)

Zilliqa 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 decentralized applications, and as of October 2020, it also allows for staking and yield farming.

ZIL Price Analysis

At the time of writing, ZIL is ranked 45th cryptocurrency globally and the current price is $0.0596 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

ZIL’s nearly +120% November rally has been cooling off during December – but may now be accumulating before the next leg up.

Bulls stepped in at last weekend’s retest of the December monthly open, suggesting that larger buyers are still active in the current price range.

However, this retest created equal lows above support starting at $0.0475 AUD, which could hint at a near-term sweep of these lows. If this happens, bulls may have an excellent entry – overlapping with the +62% retracement – to target resistance beginning at $0.0653 AUD.

A break of this resistance and the high just above at $0.0628 AUD leaves thin air for bulls to explore. Traditional Fibonacci projection techniques can provide anticipatory targets, with a first target at the +127% extension near $0.0784 AUD.

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.