An upcoming Lisk network hard fork will remove support for hardware wallets including the Trezor Model T and Model One.
Lisk will no longer support hardware wallets. Withdraw your Lisk to a compatible software wallet.
If you currently store Lisk on your Trezor wallet, you must move your coins to a wallet compatible with the hard fork upgrade by August 21 2021. The Lisk Desktop wallet should be compatible, according to Lisk’s public communications.
The short notice given regarding this issue is due to the fact that Lisk did not provide any notice of the incompatibility ahead of time nor did they reach out to discuss a solution or workaround. Given the nature of this hard fork, the currently implemented code will be made redundant and the codebase will be removed from Trezor products.
There are no clear paths to reinstating support at this time as resolving the compatibility issues would require extensive development efforts on both sides, which would not be productive given the lack of cooperation in this case.
We hope to hear from the Lisk development team in the coming days, and will follow up should there be any news in future. In the meantime, please immediately withdraw all Lisk tokens from your hardware wallet to a compatible wallet for safekeeping.
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. Lisk (LSK)
Lisk LSK is a blockchain application platform aiming to create an accessible future where everyone can benefit from decentralised technology. Lisk enables developers to build applications as well as deploy a side-chain linked to the Lisk network that includes a custom token. Lisk empowers developers with a software development kit for blockchain applications and is working on an interoperability solution that will in turn let everyone seamlessly use it on the platform.
LSK Price Analysis
At the time of writing, LSK is ranked the 114th cryptocurrency globally and the current price is A$6.22. Let’s take a look at the chart below for price analysis:
LSK‘s nearly 87% retracement from its early May high found a low near A$2.06 in late June before July’s bullish trend began.
The price is currently approaching resistance at a swing high near A$6.42. If this level breaks, bulls might target the swing highs near A$7.46, A$9.11, and potentially up to A$10.39. Resistance near A$7.81 and A$9.49 could cap this move.
If the market remains bullish for the near term, bulls might buy at A$5.57. However, a stop run into A$4.84 could offer a higher probability entry. A steeper drop could reach below the swing low into possible support near A$4.08.
2. 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 TRU 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 337th cryptocurrency globally and the current price is A$0.9112. Let’s take a look at the chart below for price analysis:
TRU‘s chart paints a different picture than many other altcoins, with February’s high leading to a massive range before setting a low near A$0.1655 in July.
The nearly 576% spike within three days at the beginning of August makes immediate bids questionable. However, the price may be finding support near A$0.8516 and possibly near A$0.7426. Since the price swept the impulse’s high at A$1.36, bulls might be waiting to enter near the swing low and gap near A$0.5960, or slightly lower near A$0.4890.
Little resistance lies overhead, although some resistance might exist between A$0.9950 and approximately A$1.17, just above the current price. A sweep and rejection of the high near A$1.45 would make most areas of possible support highly suspect and could mark the end of the bullish trend.
3. Verge (XVG)
Verge XVG is a privacy-focused cryptocurrency and blockchain that seeks to offer a fast, efficient, decentralised payments network that improves on the original Bitcoin blockchain. It includes additional privacy features including integrating the anonymity network Tor into its wallet, called Verge Pay, and providing the option of sending transactions to stealth addresses. The project describes itself as community-driven, relying on volunteers and priding itself on being open-source.
XVG Price Analysis
At the time of writing, XVG is ranked the 112th cryptocurrency globally and the current price is A$0.04893. Let’s take a look at the chart below for price analysis:
Like many other altcoins, XVG set a high in early May before retracing 83% to the low at A$0.0205 in May.
Price broke through resistance near A$0.0334, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near A$0.0269. However, a drop this far increases the chances of a stop run to A$0.0204 and possibly into support near A$0.0136. For now, continuing bullish market conditions could help A$0.0461 become support.
The swing high around A$0.0526 gives bulls a reasonable first target, with A$0.0550 also likely to draw the price upward. Higher-timeframe resistance beginning near A$0.0485 or A$0.0550 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near A$0.0648.
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. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
For today’s trading news, we’re looking at three altcoins that might breakout by showing bullish trends in the charts.
1. LISK (LSK)
Lisk (LSK), founded in early 2016 by Max Kordek and Oliver Beddows and headquartered in Zug, Switzerland, is a blockchain application platform that seeks to make blockchain technology more accessible to the masses. Lisk focuses on user experience, developer support, and in-depth documentation. Lisk’s SDK kit is written in JavaScript so as to allow developers to easily build blockchain applications on the Lisk blockchain and even deploy their own sidechain linked to the Lisk network. The open-source Lisk blockchain platform is powered by Lisk (LSK) tokens and operates under the Delegated Proof of Stake (DPoS) consensus model to allow for its network to be secured by democratically elected delegates.
LISK Price Analysis
At the time of writing, LSK is ranked 86th cryptocurrency globally and the current price is $1.50 AUD. Let’s take a look at the chart below for price analysis.
After a November rally, LSK dropped to support near the 70.5% retracement during December. Currently, the price is accumulating at a significant monthly level after running stops near the weekly support at $1.34 AUD.
A Q1 2021 Altcoins season could make the current region an excellent entry opportunity for bulls, with any quick drops to the supports near $1.34 AUD and $1.27 AUD giving even higher risk-reward entries.
The relatively equal highs on the daily chart near $1.65 AUD provide a highly probable first target. If the price breaks the December monthly open, the relatively equal highs near $1.90 AUD provide the next target.
The swing high at $1.76 AUD provides a third target for an extended rally, although some resistance starting at $1.74 AUD could slow down bulls before reaching the fourth target near $2.35 AUD.
2. Tezos (XTZ)
Tezos 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 19th cryptocurrency globally and the current price is $2.70 AUD. Let’s take a look at the chart below for price analysis.
Last week, XTZ swept stops below the Q4 support near $1.98 AUD before quickly bouncing into support between $2.25 AUD and $2.17 AUD.
The upward speed of this move back into support shows that buyers are eager to enter, suggesting that more upward movement might be coming.
If the price breaks resistance near $2.93 AUD, just below the monthly open, the equal highs near $3.14 AUD provide an appealing first target. Bullish continuation through the resistance beginning at $3.27 AUD would hint that the next target is the swing high near $3.56 AUD.
Beyond this target, the resistance beginning at $3.98 AUD could be strong enough to halt the bull run. If this resistance breaks, a parabolic rise through the highs might reach the mid-August.
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 34th cryptocurrency globally and the current price is $0.1286 AUD. Let’s take a look at the chart below for price analysis.
ZIL has already climbed over +275% since its December low, but altcoins sometimes run far beyond what most traders expect.
The price recently retested the 62% retracement of the last swing high and low on the four-hour chart, suggesting that some bulls are still looking for more upside.
If this retest proves to be the local low, overlapping extensions from this pattern and the December move point to the areas around $0.0988 AUD, $0.1421 AUD, $0.1645 AUD, and $0.1935 AUD being the next probable take-profit zones.
If the price instead drops below the weekly open to fill the daily chart gap, the range beginning at $0.0828 AUD could prove as support. More substantial support starts at $0.0621 AUD, while the consolidation preceding this bull run at $0.0543 AUD marks a likely re-accumulation zone.
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.
