Category: Market Analysis

Top 3 Coins to Watch Today: THETA, DAR, 10SET – April 26 Trading Analysis

Post author By Malik Junaid
Post date April 26, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Theta Network (THETA)

Theta Network THETA is a blockchain-powered network purpose-built for video streaming. Launched in March 2019, the Theta mainnet operates as a decentralised network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis. Theta features its own native cryptocurrency token, THETA, which performs various governance tasks within the network, and counts Google, Binance, Blockchain Ventures, Gumi, Sony Europe and Samsung as Enterprise validators, along with a Guardian network of thousands of community-run guardian nodes.

THETA Price Analysis

At the time of writing, THETA is ranked the 40^th cryptocurrency globally and the current price is US$2.91. Let’s take a look at the chart below for price analysis:

Source: TradingView

THETA has formed a clean range between $4.388 and $2.274. The price is likely to run these equal highs and lows before the next significant move.

The price is currently near the low end of the range. On the monthly chart, an old, inefficiently traded area down to $2.784 could provide support. This support might create a bounce back up to the old range highs.

If this level breaks, a broad zone between $1.460 and $0.680 could be the next support. This area shows inefficient trading on the monthly and weekly charts.

Shorter-term traders might frame a short near $3.009. Here, an inefficiently traded area on the daily chart could provide resistance. Just above, $3.080 might also provide resistance. This level is near the current consolidation range’s highs.

Current price action makes it unclear where bulls are most likely to find the current range’s next resistance. A bullish reversal will likely draw to the relatively equal highs at $4.388. Bears might stop the price first at an area of old bullish rejection on the monthly, near $4.198.

2. Mines of Dalarnia (DAR)

Mines of Dalarnia DAR is an action-adventure game with a blockchain real-estate market. MoD is based on a simple and simultaneously captivating gameplay where users can mine and combine in-game items, then utilise them to upgrade their characters (skills and equipment), thereby increasing their rank in the game. Players can go in search of rare artifacts/relics/minerals, complete quests, team up with other players to defeat monsters, and unlock rewards.

DAR Price Analysis

At the time of writing, DAR is ranked the 256^th cryptocurrency globally and the current price is US$1.05. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a rapid 77% selloff in late December 2021, DAR has formed a range between approximately $1.30 and $0.60.

The price is currently testing an old inefficiently traded area near $0.9724. It is reasonable to expect a stop run below the old swing low at $0.9080.

If the price runs below this low, a small inefficiently traded area on the weekly chart at $0.8478 could be the target. These levels are between the 61.8% and 78.6% retracement of March and April’s rally.

A deeper move might target an old swing low and area of bullish rejection on the monthly chart, near $0.7906. Below this level, historical price action shows no support.

An area near $1.1053 offers the closest probable resistance. It is in the middle of the recent consolidation range and near the April monthly open.

Above this level, an old swing high and bottom of an inefficiently traded area on the monthly chart, near $1.3060, may offer the next resistance.

A larger rally could reach between $1.8168 and $1.585. This area shows inefficient trading on the monthly and weekly charts.

3. Tenset (10SET)

Tenset 10SET is an emerging blockchain project that envisions itself to be the bridge between crypto assets and the traditional stock market. It employs the new generation ETF 2.0 deflationary token as well as an intelligent staking method. Its goal is to speed up the adoption of cryptocurrencies and blockchain by the financial markets. According to its official website, it is capitalising on the current state of the economy as it approaches the fourth industrial revolution.

10SET Price Analysis

At the time of writing, 10SET is ranked the 3058^th cryptocurrency globally and the current price is US$2.73. Let’s take a look at the chart below for price analysis:

Source: TradingView

10SET rallied 250% during February and March and is aggressively retracing this move after consolidating through April.

The price broke below an inefficiently traded area on the weekly chart between $2.750 and $2.863. This zone could provide resistance during a retest.

Above, the April monthly open, early April’s consolidation low, and the inefficiently traded area on the daily chart near $3.448 might also provide resistance.

The price may be seeking stops under the closest swing low near $2.250. This level could provide support. However, the current bearish market conditions might drag the price further down. Bears could next be targeting an inefficiently traded area on the daily chart near $1.744.

A move this low might reach into the range lows and accumulation area between $1.501 and $1.248. If bulls begin accumulating, the upper end of this range is more likely to provide support.

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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.

Market Analysis The Crypto Den

TradeRoom: Our Weekly Crypto Trades Analysis – Apr 25, 2022

Post author By David Haslop
Post date April 25, 2022

Welcome to this weekly series from the TradeRoom. My name is Dave and I’m the founder of The Crypto Den, an Australian-based crypto trading and education community aiming to give you the knowledge to take your trading game to the next level.

Crypto Market Outlook

Let’s dive straight into Bitcoin!

In my last article I outlined my thoughts around BTC painting a very large Bear Flag, and nothing has changed since then. BTC has in fact continued to drop as expected and is currently sitting on a very important price level at US$39,000. Breaking this support will confirm a lower high and bearish market structure. We have seen a fake out above US$40,000 and above the 200 EMA that was short-lived.

*Image of BTC chart from my last article*

ALTs are bleeding out, BTC dominance is rising with BTC price action dropping, the SPX and gold are also down, and if momentum continues I see the crypto market losing up to US$500 billion.

I hope for everyone’s sake that I’m wrong but we need to stay realistic. I’m not out to upset folks with any FUD or purposely sharing a pessimistic view, but I do think people should be prepared. Plan for the worst, aim for the best. The last thing I want to see is entire communities losing 90%+ of their investments like we saw in 2018.

This Week’s Trades

Keeping with my short bias, I’m looking for coins with large volume and market caps to paint some very large drops, two of which I’ve mentioned here on numerous occasions.

DOGE/USDT

I still see DOGE dropping up to 70%, which for me as a leveraged trader on 10x can produce a 700% trade. Two clear rejections on a daily equilibrium supports this. My target for DOGE is US$0.04.

ADA/USDT

Just like DOGE, I can see a 70%+ drop for ADA coming. I’ve been talking about these two coins for some time and how they could be huge short trades when the time is right. I think we could be getting closer! This may upset some holders, but US$0.17 isn’t unrealistic.

TORN/USDT

TORN has seen some relatively bullish price action recently and held quite well while the rest of the market has struggled. That said, I think it’s time for a correction here and if the rest of the market does dump, TORN is one of those that will lose a high percentage. It’s possible to see a 60% loss with a US$18.00 target.

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Tags ADA, Bitcoin, crypto, Dogecoin, TORN

Crypto News Market Analysis Smooth Love Potion Solana Trading Zcash

Top 3 Coins to Watch Today: ZEC, SOL, SLP – April 25 Trading Analysis

Post author By Malik Junaid
Post date April 25, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Zcash (ZEC)

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

ZEC Price Analysis

At the time of writing, ZEC is ranked the 50^th cryptocurrency globally and the current price is US$158.86. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZEC‘s recent bearish flip of the 9, 18, and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near $146.47 and $155.96 – between the 41.8% and 58.6% retracements – could see at least a short-term bounce.

Last year’s long-term consolidation suggests that the areas near $138.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $168.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $190.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $210.32 might provide a ceiling for this impulse.

2. Solana (SOL)

Solana SOL is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralised app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

SOL Price Analysis

At the time of writing, SOL is ranked the 7^th cryptocurrency globally and the current price is US$99.11. Let’s take a look at the chart below for price analysis:

Source: TradingView

SOL has retraced 68% from its December highs and reached possible support last month near $89.34. Resistance might begin near $120.34, which has confluence with the 9 and 18 EMAs.

A more substantial rally might reach near the swing high at $110.23 and the 40 EMA. This high is less likely to break if bears plan to continue the downtrend without a lengthier consolidation.

While not highly probable in the current market conditions, a more animated move upward could reach a wide resistance area between $126.42 and $133.94. This zone is where the last movement down accumulated positions before breaking down.

Possible support rests near $96.34, which showed sensitivity on the last test. While it could provide support again, the higher-timeframe bearish trend is more likely to propel the price into an inefficient area between $91.10 and $87.54. If the price reaches this zone, the May 2021 swing high near $82.13 might mark a more sensitive level.

3. Smooth Love Potion (SLP)

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

SLP Price Analysis

At the time of writing, SLP is ranked the 420^th cryptocurrency globally and the current price is US$0.01547. Let’s take a look at the chart below for price analysis:

Source: TradingView

SLP‘s 65% rally during Q1 ran into a 30% retracement near $0.01615. Since then, the price has been consolidating in a 40% range between $0.01424 and $0.02432.

Just below the late-March low, $0.01500 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near $0.01458 might cap a run on the lows near $0.01410 and $0.01385.

The higher-timeframe analysis points to the area near $0.02351 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $0.02827 and $0.03060 may be the next targets.

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Crypto News DigiByte Market Analysis Trading VeThor Token Waves

Top 3 Coins to Watch Today: DGB, WAVES, VET – April 22 Trading Analysis

Post author By Malik Junaid
Post date April 22, 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. DigiByte (DGB)

DigiByte DGB is an open-source blockchain and asset creation platform. A longstanding public blockchain and cryptocurrency, DigiByte uses five different algorithms to improve security, and originally aimed to improve on the Bitcoin blockchain’s security, capacity and transaction speed. DigiByte consists of three layers: a smart contract “App Store”, a public ledger, and the core protocol featuring nodes communicating to relay transactions.

DGB Price Analysis

At the time of writing, DGB is ranked the 144^th cryptocurrency globally and the current price is US$0.02628. Let’s take a look at the chart below for price analysis:

Source: TradingView

After retracing nearly 56% since the beginning of Q2, a 30% range has trapped DGB between $0.03449 and $0.02322 during April.

A consolidation near $0.02192, visible on the weekly chart, provided support on the last touch. This level could provide support again on a stop run under the $0.02015.

A deeper run-on stop at $0.01920 might reach the top of a higher-timeframe gap at the same level. However, a push this low reduces the chance of a new monthly high soon. Below, little significant support exists until $0.01713.

Higher-timeframe levels overlapping with a daily gap beginning at $0.02895 are likely to provide resistance, perhaps on a sweep of the equal highs near $0.03240. Breaking this resistance makes the relatively equal highs near $0.03755 and the monthly high at $0.03947 the next probable targets.

2. Waves (WAVES)

WAVES is a multi-purpose blockchain platform that supports various use cases, including decentralised applications (DApps) and smart contracts. The platform has undergone various changes and added new spin-off features to build on its original design. Waves’ native token is WAVES, an uncapped supply token used for standard payments such as block rewards. Waves initially set out to improve on the first blockchain platforms by increasing speed, utility and user-friendliness.

WAVES Price Analysis

At the time of writing, WAVES is ranked the 52^nd cryptocurrency globally and the current price is US$20.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

During April’s high, WAVES‘ slight drop marks the current range as a reasonable area to expect accumulation.

The recent bearish flip of the 9, 18 and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near $20.12 and $18.35 – between the 31.8% and 40.6% retracements – could see at least a short-term bounce.

Long-term consolidation suggests that the areas near $29.45 and $34.61 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $28.77, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $32.42, the start of the bearish move.

3. VeChain (VET)

VeChain VET is a blockchain-powered supply chain platform. VeChain aims to use distributed governance and Internet of Things (IoT) technology to create an ecosystem that solves some of the major problems with supply chain management. The platform uses two in-house tokens, VET and VTHO, to manage and create value based on its VeChainThor public blockchain. The idea is to boost the efficiency, traceability and transparency of supply chains while reducing costs and placing more control in the hands of individual users.

VET Price Analysis

At the time of writing, VET is ranked the 35^th cryptocurrency globally and the current price is US$0.06087. Let’s take a look at the chart below for price analysis:

Source: TradingView

VET‘s 65% move during late March ran into resistance near $0.08120, at the 27% extension of the Q1 swing.

An old high and the 18 EMA have provided support near $0.05833 and may give support again on a retest. This area also has confluence with the 50% and 62.8% retracements of November’s swing.

Just below, near $0.05493, the 55.8% retracement of the current Q1 swing might also mark an area of support.

If the market turns bearish, $0.05072 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.07418, at the 50% extension of the last week swing, could see some profit-taking if bulls break the current resistance near $0.07978. Above, old consolidations near $0.08425 and $0.08872 may also provide some resistance before another round of price discovery.

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Avalanche Crypto News Elrond Market Analysis THORChain Trading

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

Post author By Malik Junaid
Post date April 21, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Avalanche (AVAX)

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

AVAX Price Analysis

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

Source: TradingView

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

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

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

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

2. Elrond (EGLD)

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

EGLD Price Analysis

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

Source: TradingView

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

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

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

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

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

3. THORChain (RUNE)

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

RUNE Price Analysis

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

Source: TradingView

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

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

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

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

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

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Crypto News Market Analysis Ocean Protocol Ripple The Sandbox Trading

Top 3 Coins to Watch Today: XRP, OCEAN, SAND – April 20 Trading Analysis

Post author By Malik Junaid
Post date April 20, 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. Ripple (XRP)

Ripple XRP is the currency that runs on a digital payment platform called RippleNet, on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and not based on a blockchain, but rather the aforementioned distributed ledger database.

XRP Price Analysis

At the time of writing, XRP is ranked the 6^th cryptocurrency globally and the current price is US$0.7720. Let’s take a look at the chart below for price analysis:

Source: TradingView

XRP printed some gains during early April after moving sideways for the past few months. The price was in a downtrend, with the 9, 18 and 40 EMAs providing resistance on each attempt to rally.

However, bulls are showing some interest at the 70.6% retracement, near $0.7372. If this level breaks, a move into possible support – just below the lows near $0.6852 – seems likely.

If the price does rally through the swing high at $0.8255 – perhaps triggered by a sudden surge in Bitcoin – bulls might find some resistance at the 61.8% retracement level near $0.8650.

Overlapping swing highs and lows near $0.9046 might provide the next target, where bears immediately forced the price down in late December.

More bullish market conditions could shift targets up near the midpoint of Q3’s consolidation, near $0.9717, where higher timeframes show an inefficiently traded zone.

2. Ocean Protocol (OCEAN)

Ocean Protocol OCEAN is a blockchain-based ecosystem that allows individuals and businesses to easily unlock the value of their data and monetise it through the use of ERC-20 based datatokens. OCEAN is a utility token that is used for community governance and staking on data, in addition to buying and selling data as the basic unit of exchange on the Ocean Market. The price of these datatokens is set by an OCEAN-datatoken AMM pool, which adjusts the price of the datatoken as it is bought and sold based on supply and demand.

OCEAN Price Analysis

At the time of writing, OCEAN is ranked the 164^th cryptocurrency globally and the current price is US$0.5427. Let’s take a look at the chart below for price analysis:

Source: TradingView

During March, OCEAN 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 $0.6023 and may target the swing low and possible support near $0.5165.

The swing low and possible support near $0.4834 could be the second bearish target if the move down continues. The relatively equal lows near $0.4655 and possible support underneath near $0.4490 could provide more substantial support.

The last swing high near $0.6625 gives a near-term target if bullish conditions continue. However, resistance beginning around $0.6915 could cap this move. A break of this resistance might continue to probable resistance near $0.7428 and reach above the cluster of relatively equal highs near $0.8035.

3. The Sandbox (SAND)

The Sandbox SAND is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralised autonomous organisations (DAOs) and non-fungible tokens (NFTs), the Sandbox creates a decentralised platform for a thriving gaming community. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.

SAND Price Analysis

At the time of writing, SAND is ranked the 40^th cryptocurrency globally and the current price is US$2.92. Let’s take a look at the chart below for price analysis:

Source: TradingView

SAND‘s impressive gains during February halted at $5.10 before retracing 70% of the move. This price action created several areas of possible higher-timeframe resistance in the process.

The price found resistance on its last swing upward near $3.60 – an area that could provide resistance again. If this swing high breaks, the price might find resistance near $3.85. If this area does provide resistance, it would suggest the formation of a higher-timeframe consolidation.

The fast move up left little higher-timeframe support. However, a vast zone between $2.90 and $3.82 has provided support before and could give support again on a retest. This zone is between the 61.8%-to-78.6% retracement levels of 2021 Q4’s parabolic move.

Inside this zone, the consolidation high near $2.78 to $2.73 might see more sensitivity and mark the bearish target.

Continuation downward through this level, especially if the overall market remains bearish, could retrace most of Q4’s move to the next higher-timeframe support near $2.60.

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Crabada Crypto News EOS Market Analysis Trading

Top 3 Coins to Watch Today: CRA, EOS, SNP – April 19 Trading Analysis

Post author By Malik Junaid
Post date April 19, 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. Crabada (CRA)

Crabada CRA is a crab-themed play-to-earn NFT game on Avalanche, where players assemble a team of three crabada to earn the in-game currency Treasure Under Sea (TUS). Being an idle game, players deploy their Mining Party consisting of three crabada to mine treasure. Each mining expedition takes four hours and returns 3.75 CRA and 303.75 TUS. Players can also engage in looting missions to try to take over another player’s mining party. Moreover, idle crabada can be lent to other players and deployed as mercenaries.

CRA Price Analysis

At the time of writing, CRA is ranked the 564^th cryptocurrency globally and the current price is US$0.488. Let’s take a look at the chart below for price analysis:

Source: TradingView

CRA has declined nearly 69% since its March high and is 8.6% from its all-time low. So far, there are no signs of reversal.

Traders may still want to monitor the coin for signs of a short-term bounce or reversal as it reaches or declines below its all-time low. Starting Monday, the next month contains a series of launches that could trigger investor interest. These catalysts combined with this low – the last reference point in historical price action for possible support – make it an area of interest.

The closest resistance begins near $0.4799, where the price briefly consolidated before Monday’s move downward. Just above, near $0.5367, the 9 EMA and an inefficiently traded area may also provide resistance.

A more sustained bounce could reach the low end of an inefficiently traded area near the 18 EMA at $0.6643. If this resistance breaks, the price might retest the previous range’s low and inefficiently traded area near the 2022 yearly open, from $0.7123 to $0.7622.

2. 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 47^th cryptocurrency globally and the current price is US$2.38. Let’s take a look at the chart below for price analysis:

Source: TradingView

EOS has been ranging since early 2022. Last week, the price bounced from an inefficiently traded area near $2.146 before testing the consolidation range low near $2.644. Both of these regions could provide support or resistance again.

Today, the price is testing possible support near $2.347. Bulls have rejected bears multiple times on higher timeframes in this region. The price is in the middle of its range with no apparent signs of its next direction, while market conditions remain bearish.

However, any rejection from possible resistance near $2.418 would suggest that the price is preparing to consolidate for longer or run Q1 2022’s lows into possible support near $1.766. This region saw strong buying in late 2018 and early 2020.

If the two closer resistances break, bulls might eye $3.274 to $3.660 as the next significant resistance. This large, inefficiently traded area on the monthly, above March’s high, provides an appealing target for bulls aiming for bears’ stops.

3. Synapse Network (SNP)

The Synapse Network SNP is a fully functional solution aimed at bridging the gap between investors and brilliant projects. Harnessing the full power of decentralised assets and cross-chain technology, the Synapse ecosystem will let everyone enter the previously extremely elitist world of fundraising, granting the chance to get involved in promising startups since their earliest phases and with minimum capital. Alongside the value of this connection, the network also offers its full backing, providing funds, connecting with VCs and aiding users with its extensive network of tech partners.

SNP Price Analysis

At the time of writing, SNP is ranked the 5567^th cryptocurrency globally and the current price is US$0.07587. Let’s take a look at the chart below for price analysis:

Source: TradingView

SNP has declined nearly 91% since December 2021, with no sign of a bullish reversal. The consolidation last Thursday and Friday might provide resistance to push the price down for another leg of selling.

A rally slightly higher is likely to meet resistance at a more extensive consolidation’s low between $0.08035 and $0.09107. An inefficiently traded area between $0.08241 and $0.08500 could provide the most sensitivity inside this zone.

A gap and old low near $0.1211 could be the target for a more significant rally. At these levels, there is no historical price action to hint at possible support. Extensions from the early February and early April rallies converge near $0.0644 and $0.0480. These zones could support at least short-term bounces.

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Crypto News EOS Fantom Market Analysis Origin Protocol Trading

Top 3 Coins to Watch Today: EOS, FTM, OGN – April 18 Trading Analysis

Post author By Malik Junaid
Post date April 18, 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. Eos (EOS)

EOS Price Analysis

At the time of writing, EOS is ranked the 47^th cryptocurrency globally and the current price is US$2.55. Let’s take a look at the chart below for price analysis:

Source: TradingView

Q1 began a bearish trend for EOS, which dropped 70% before setting a low near $1.90 in early March.

After a several-week accumulation and running stops below the December 2021 swing low, late March began a bullish rally that climbed 38% by March 29, reaching the 2022 yearly open.

The old 2021 lows, near $3.20, could mark a resistance area. If this is the start of a larger bullish market cycle, bulls might take their next profits near $3.81 – an inefficient area near November’s breakdown. Another potential resistance is near $4.26, which saw multiple rejections during distribution before November’s breakdown.

An area of old consolidation from $2.75 to $2.97 could provide the next bullish setup before any continuation upward. This area contains the last swing high before late February’s stop run. A drop just below, near $2.30, is also reasonable. This level is near the March monthly open and 40 EMA.

If the bearish trend resumes, bulls might find the next higher-timeframe support between $2.10 and $1.90. This region, especially under $1.72, was inefficiently traded and has not been revisited since 2019.

2. Fantom (FTM)

Fantom FTM is a directed acyclic graph (DAG) smart contract platform providing decentralised finance (DeFi) services to developers using its own bespoke consensus algorithm. Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms – specifically transaction speed, which developers say they have reduced to under two seconds.

FTM Price Analysis

At the time of writing, FTM is ranked the 42^nd cryptocurrency globally and the current price is US$1.16. Let’s take a look at the chart below for price analysis:

Source: TradingView

FTM‘s bounce since March ran into resistance near the old monthly highs. This rejection created a set of relatively equal highs near $1.65, possibly forming the next bullish leg’s target. Until then, the price will likely encounter resistance near $1.92.

Currently, the price is testing possible support near the weekly open, around $1.07. This level also has confluence with the 78.6% retracement of the current local range and the 18 and 40 EMAs.

If this level fails to provide support, a zone from $0.9749 to $0.9130 might mark a possible swing low or consolidation area. This zone is between the 61.8% and 75.6% retracement of early December’s swing.

A more bearish tone in the market could propel the price lower. The lows, near $0.8730, might mark an area of possible support as well as a bearish target.

3. Origin Protocol (OGN)

Origin Protocol OGN is a network that allows market participants to share goods and services through peer-to-peer (P2P) networks. The platform aims to create an extensive online marketplace leveraging the Ethereum (ETH) blockchain and Interplanetary File System (IPFS) in order to eliminate the need for middlemen.

OGN Price Analysis

At the time of writing, OGN is ranked the 190^th cryptocurrency globally and the current price is US$0.6253. Let’s take a look at the chart below for price analysis:

Source: TradingView

OGN climbed just over 40% from March’s monthly open as it positioned itself to challenge two old swing highs.

The region between $0.4668 and $0.5447 has provided support for the past few days, making it a reasonable place for aggressive traders to take smaller-size positions. However, a better risk-reward entry might form at support between $0.4344 and $0.4372.

If the resistance between $0.7517 and $0.8130 breaks, the next resistance is between $0.8641 and the December swing high at $0.9568, which marks the first primary target for this trend.

Beyond this first target, traders could target a swing high from last year at $1.08, and possibly up to resistance between $1.15 and $1.22.

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ChainLink Crypto News Ethereum Market Analysis Trading WOO Network

Top 3 Coins to Watch Today: ETH, LINK, WOO – April 15 Trading Analysis

Post author By Malik Junaid
Post date April 15, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Ethereum (ETH)

Ethereum ETH is a decentralised open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralised smart contracts. Ethereum’s own purported goal is to become a global platform for decentralised applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

ETH Price Analysis

At the time of writing, ETH is ranked the 2^nd cryptocurrency globally and the current price is US$3,034.89. Let’s take a look at the chart below for price analysis:

Source: TradingView

ETH‘s long-term range from Q1 highs could be coming to an end. The 9, 18 and 40 EMAs flipped bullish at the beginning of April after late March’s retracement, showing strength as BTC recovered. Currently, the price is hovering just under the monthly high as bulls take some profits.

Two swing highs and the 9 EMA could mark $3010.87 to $2940.72 as an area of possible support. A deeper retracement will likely find some buyers around the 61.8% retracement near $2760.59.

The monthly high will likely see some profit-taking, but the area near the 27% extension, at $3560.12, could also provide some resistance. The 61.8% extensions of the last two swings converge near $3820.54, which could be the target for a monthly high break before a new setup emerges.

2. Chainlink (LINK)

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

LINK Price Analysis

At the time of writing, LINK is ranked the 24^th cryptocurrency globally and the current price is US$13.64. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s early March spike retraced near $13.00 into the consolidation that began the impulse before bouncing to $16.90.

This consolidation could provide support again, although bears would first have to push the price through possible support near $12.85. The market’s structure may be shifting bearish, with $12.32 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $11.70 before finding support near $11.23.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near $17.78 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the December wick near $20.58.

3. WOO Network (WOO)

WOO Network is a deep liquidity network connecting traders, exchanges, institutions and DeFi platforms with democratised access to best-in-class liquidity and trading execution at lower or zero cost. WOO Token is used in the network’s CeFi and DeFi products for staking and fee discounts. Presently, a diverse set of products and services interfacing retail, institutions, CeFi and DeFi have been built. WOO X is a zero-fee trading platform providing professional and institutional traders with best-in-class liquidity and execution. It features fully customisable modules for workspace customisation.

WOO Price Analysis

At the time of writing, WOO is ranked the 127^th cryptocurrency globally and the current price is US$0.4826. Let’s take a look at the chart below for price analysis:

Source: TradingView

WOO has retraced 80% from its January highs and is currently challenging possible support near $0.4540, between the 61.8% and 78.6% retracement levels.

If this level fails to provide support, the 78.6% retracement, near $0.4301, offers a strong draw for shorts with multiple daily swing lows and an inefficient area.

Continued bearish conditions may cause this level to break, running all swing lows since Q2 2021 into the upper portion of an inefficient region starting near $0.3700. Near the midpoint and bottom of this region, lower timeframes show that $0.3520 and $0.3240 could also provide some sensitivity.

The low of early December’s consolidation, near $0.5817, and the 9 EMA may provide some resistance on any retracements. A continued rally – unlikely unless the overall market’s catalysts drastically shift – could reach over the 2021 open to $0.6427 and possibly $0.7100, where the daily chart shows a head-and-shoulders formation.

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Algorand Crypto News Market Analysis NEAR Protocol Trading Zilliqa

Top 3 Coins to Watch Today: ALGO, NEAR, ZIL – April 14 Trading Analysis

Post author By Malik Junaid
Post date April 14, 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. Algorand (ALGO)

The Algorand ALGO blockchain is a permissionless, pure proof-of-stake blockchain protocol. Unlike Proof-of-Work (PoW) blockchains, where the root block must be validated by randomly selected validators (using computing power), in the pure proof-of-stake approach all of the validators are known to one another and only have to agree on the next block in order to create a new block. Algorand was invented to speed up transactions and improve efficiency in response to the slow transaction times of Bitcoin and other blockchains.

ALGO Price Analysis

At the time of writing, ALGO is ranked the 30^th cryptocurrency globally and the current price is US$0.7426. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during last month, ALGO gained nearly 20% into resistance that starts near $0.9322.

Swing traders looking for a continuation to the nearest cluster of relatively equal highs around $1.12 might look for bids near $1.06. More significant resistance rests above, near $1.18. A group of significant swing highs at $1.20 and $1.26 give possible targets if this resistance breaks.

A stop run on the recent low at $0.7065 into possible support beginning near $0.6630 might see stronger bidding. This area also has a confluence with the recent monthly lows.

2. Near Protocol (NEAR)

NEAR Protocol is a decentralised application platform designed to make apps usable on the web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to offer scalability and stable fees. NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism, called “Doomslug”.

NEAR Price Analysis

At the time of writing, NEAR is ranked the 17^th cryptocurrency globally and the current price is US$16.74. Let’s take a look at the chart below for price analysis:

Source: TradingView

After its uptrend during Q1, NEAR has retraced 20% from its highs to support at the retracement of around $15.15.

The price shifted market structure to run to the consolidation lows near $14.51, just under the monthly open. Continued bullishness in the market may create support just below, between $14.00 and $13.45.

Bulls might show more interest if the price retraces near the February open, around $13.00. Continued bearishness could see the price reach into old support around $12.55.

On the other hand, if the current resistance breaks, the price might find resistance near $21.98, whereas mid-January buyers may still be trapped in longs.

3. Zilliqa (ZIL)

Zilliqa ZIL is a public, permissionless blockchain 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 70^th cryptocurrency globally and the current price is US$0.1091. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s 65% drop during Q1 found a low near $0.04038 before closing over a monthly high around $0.1482 with massive gains. This daily close over the high could signal a shift in market structure that might reach probable resistance near $0.1637.

A sustained bullish move may target the swing high at $0.1864. If this stop run occurs, a run beyond the high into probable resistance near $0.1988 and $0.2045 is possible.

Bulls could buy a retracement to possible support near $0.1018, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.09376.

However, relatively equal lows near $0.08834 and $0.08224 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.07815 and $0.07766.

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