Category: Market Analysis

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. Gala (GALA)

GALA aims to take the gaming industry in a different direction by giving players back control over their games. Gala Games’ mission is to make “blockchain games you’ll actually want to play”. The project wants to change the fact that players can spend hundreds of dollars on in-game assets, and countless hours playing the game, all of which could be taken away from them with the click of a button. It plans to reintroduce creative thinking into games by giving players control of the games and in-game assets with the help of blockchain technology.

GALA Price Analysis

At the time of writing, GALA is ranked the 40^th cryptocurrency globally and the current price is US$0.4888. Let’s take a look at the chart below for price analysis:

After setting a low in late October, GALA kicked off a bullish trend that rallied nearly 585% by November to break the new all-time highs.

The following 55% plummet found support near $0.4566, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $0.4830.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $0.5012, where aggressive bulls might begin bidding. The level near $0.5340, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $0.5780. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $0.4231 could provide at least a short-term bounce. If this level fails, the old highs near $0.3950 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Terra (LUNA)

Terra LUNA is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin, and offers fast and affordable settlements. Terra’s native token, LUNA, is used to stabilise the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

LUNA Price Analysis

At the time of writing, LUNA is ranked the 12^th cryptocurrency globally and the current price is US$56.16. Let’s take a look at the chart below for price analysis:

After breaking its all-time highs last week,  LUNA began a range that has been whiplashing both bulls and bears.

Resistance beginning near $75.23 held the price down for the monthly opening, although bulls have shown some strength near the 9 and 18 EMAs. 

A quick drop to $52.37, or into the zone beginning near $48.87, could give bulls the fuel to push through the nearby resistance. If this resistance breaks, the high near $60.47 provides a reasonable target. 

A break of this level could move further into uncharted territory with the nearest probable resistances projected around $65.28 and $70.57.

More patient bulls might be waiting far below the 40 EMA with bids close to the higher-timeframe range’s 61.8% retracement, near $45.59.

3. PancakeSwap (CAKE)

PancakeSwap CAKE is an automated market maker (AMM) – a decentralised finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. PancakeSwap uses an automated market maker model where users trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return. PancakeSwap allows users to trade BEP20 tokens, provide liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE, and stake CAKE to earn tokens of other projects.

CAKE Price Analysis

At the time of writing, CAKE is ranked the 48^th cryptocurrency globally and the current price is US$12.22. Let’s take a look at the chart below for price analysis:

CAKE‘s 70% decline after August created relatively equal lows near $10.56 before bouncing over the local range’s midpoint near $13.60. A bullish altcoin market could help CAKE bulls regain a stronger bullish trend.

Aggressive bulls could look for entries in the daily gap starting near $11.27. The monthly open aligns with more probable support near $10.74. 

A stop run below the monthly open near $9.62 might provide a more favourable entry. A more substantial bearish move – perhaps from a sharp drop in Bitcoin’s price – could challenge support near $8.90, just above the equal lows.

Resistance rests just above, with the zone from $14.59 to $18.26 likely to provide a short-term ceiling. A break through this level might target resistance just under the cluster of relatively equal highs near $21.47. 

Beyond these highs, resistance near $23.15 provides a final challenge before attacking an old daily swing high near $25.86.

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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. You can also buy these coins from different exchanges listed on Coinmarketcap.

VOXEL is trading in an uptrend and pumped up to +1650% in a single day after listing on Binance Launchpad, surging +1875% in a week.

What is Voxies?

Voxies VOXEL is a free-to-play, 3D turn-based tactical RPG game on blockchain. The main gameplay of Voxies is similar to a traditional RPG and tactical game, but it is powered by blockchain technology and ownership is central to the core concepts of the game. As a team-based tactical game, players can control multiple characters in the game and each character can be represented by Voxies that are directly owned as NFTs, or provided by the game for free-to-play players.

VOXEL Price Analysis

At the time of writing, VOXEL is ranked the 2530^th cryptocurrency globally and the current price is US$3.68. Let’s take a look at the chart below for price analysis:

After the launch of VOXEL on Binance Launchpad, it pumped up to $4.15 having +1650% gains in just a few minutes, and the initial opening price of VOXEL was $0.2530 at Binance Exchange with many different trading pairs such as VOXEL/BTC, VOXEL/USDT, and VOXEL/BUSD.

Currently, VOXEL is trading at $3.65 price levels after breaking out the squeeze resistance in its sideways trend and is now heading towards its all-time high price.

What Do the Technical Indicators Say?

The VOXEL TradingView indicators (on the 1-day) mainly indicate VOXEL as a Strong Buy, except the Oscillators which indicate VOXEL as a Neutral.

So Why Did VOXEL Break Out?

Recent news was announced regarding the VOXEL token sale on Binance launchpad.

Learn How to Trade Live!

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

Where to Buy or Trade VOXEL?

VOXEL has the highest liquidity on Binance Exchange, so that would help for trading VOXEL/BTC or VOXEL/USDT pairs. You can also buy VOXEL from different exchanges listed on CoinMarketCap.

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. Altura (ALU)

Altura ALU is a smart contract platform that allows game developers to mint, distribute and transact Smart NFTs representing in-game items. Smart NFTs are NFTs with dynamic properties that can change based on certain conditions. They are the next step to making decentralised in-game items mainstream and offer a massive range of potential opportunities that are not possible with traditional NFTs. We want to create an easy-to-use interface and API for creating Smart NFTs, an open marketplace for transacting NFTs using the Altura token, and we want to introduce truly random smart loot boxes to the blockchain.

ALU Price Analysis

At the time of writing, ALU is ranked the 297^th cryptocurrency globally and the current price is US$0.1299. Let’s take a look at the chart below for price analysis:

ALU‘s parabolic 1,240% rally ended three weeks after it began, then retraced over 76% from its highs.

The price had a slight bounce at the lower end of the daily consolidation, near $0.1118 and the 78.6% retracement of Q4’s rally. It remains to be seen if this price can continue to provide support in the face of the current bearish market conditions.

The 9 EMA near $0.1708 may offer some resistance. If the price breaks through this level, it could reach a zone near the 18 EMA and swing low, from $0.2078 to $0.2279. Any reclaim of this level will likely encounter strong resistance near $0.2712.

A broad zone from $0.0892 to $0.0467 could offer support and mark a bottom. Inside this zone, a more narrow range from $0.0748 to $0.0594 might provide more sensitivity. Today’s token utility update may increase buying pressure, which also increases the odds of longer-term bullish reversal as the price approaches this zone.

Should the price break through this level, the consolidation lows near $0.0339 may be the bearish target. However, a lack of apparent higher-timeframe support reduces the odds of picking the correct level for any longer-term bottom.

2. Litentry (LIT)

Litentry LIT is a decentralised identity authentication and user activity data management Infrastructure. Build on Substrate, Ready for Polkadot. Litentry is helping support change that is in favour of a user-centric network with the blockchain. Litentry includes an identity-based network and related tools, and features an identity matching and identity staking mechanism; as a whole it consists of decentralised identity and user activity data management infrastructure.

Litentry Price Analysis

At the time of writing, LIT is ranked the 466^th cryptocurrency globally and the current price is US$2.78. Let’s take a look at the chart below for price analysis:

LIT has spent the second half of 2021 in a range. It spiked through this range’s high in late November before an aggressive move toward the range lows.

The price found support near $2.979, near the origin of a rally in early July, and created a week-long consolidation. However, the swing low that began October’s rally is just above, at $3.008, and is likely to provide resistance. It may cause further consolidation at the current area before a decisive break – perhaps lower as traders sell after the parachain crowdloan ends.

A break under the support near $2.979 might target the swing lows and possible support near $2.220. Below this level, there is little apparent higher-timeframe support.

If bulls appear, a break through the current resistance near the 9 EMA, around $3.008, might find resistance from $3.857 to $4.478.

A sustained bullish shift in the market could propel the price through December’s monthly open into probable resistance near the high at $5.909 and lows of early 2021’s consolidation near $6.832.

3. Secret (SCRT)

Secret SCRT is the native coin of the Secret Network, a decentralised network for private/secure computation. Nodes on the network (known as secret nodes) can perform generalisable computations over encrypted data, which allows smart contracts (known as secret contracts) to use private and sensitive data as inputs. Our focus is on computational privacy, not just transactional privacy. Developers can build decentralised, privacy-preserving “Secret Apps” on the network. The privacy functionality of the Secret Network is critical for many fields, including decentralised finance, Web3, machine learning, access control, and many more.

SCRT Price Analysis

At the time of writing, SCRT is ranked the 120^th cryptocurrency globally and the current price is US$4.07. Let’s take a look at the chart below for price analysis:

SCRT‘s 1,344% rally from its July lows has retraced 63% and is entering higher-timeframe support.

An area from $4.3459 to $4.1072, near the low of Q4’s bullish leg and highs of early 2021’s consolidation, could provide some support.

However, relentless selling suggests that the price may continue dropping into a thinly traded area between $3.5274 and $2.674, which has confluence with the 78.6% retracement of the Q3-Q4 rally.

Any retracement upward might meet resistance near $5.4267, which has confluence with the 18 EMA and old resistance. Short-term excitement over the NFT marketplace launch could spark this bounce, then reverse as excitement fades after the event.

A stronger push through the probable resistance near $5.4267 could reach $7.3252, where the price consolidated over an old high. However, this may not happen until the next bullish cycle. 

Close above, a zone beginning near $8.508 may provide some resistance, with more sensitivity near $9.1943.

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From: November 15 to December 22
Date/Time: Twice a week, Mon and Wed at 7pm AEST
Location: Zoom webinar

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. You can also buy these coins from different exchanges listed on Coinmarketcap.

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. Flux (FLUX)

FLUX is the new generation of scalable decentralised cloud infrastructure. Simply develop, manage and spawn your applications on multiple servers at once. Ready for Web 3.0, DApps, and more, the Flux Ecosystem is a fully operational suite of decentralised computing services and blockchain-as-a-service solutions which offer an interoperable, decentralised, AWS-like development environment. Flux is a native GPU mineable POW (proof-of-work) coin providing incentive for hardware hosters, XDAO governance on-chain, and bad actor mitigation via staking requirements for running hardware.

FLUX Price Analysis

At the time of writing, FLUX is ranked the 157^th cryptocurrency globally and the current price is US$1.82. Let’s take a look at the chart below for price analysis:

FLUX retraced nearly 45% from its recent all-time highs before finding a low yesterday. Since then, the price has been sweeping stops on both sides of its local range as the current consolidation sets up the next move.

Aggressive bulls might bid near $1.85, although a sweep of the stops near $1.80 could reach below the next swing low into possible support near $1.77. A continued downtrend might run into the weekly gap near $1.65.

Some bears might add more shorts near $2.25, although a push to $2.48 is reasonable. A daily candle close over the swing high near $2.70 could suggest that a longer-term trend reversal is in play, with bulls possibly entering on a retracement near $2.95 for new weekly high prices.

2. Hedera (HBAR)

Hedera Hashgraph HBAR is a public network that allows individuals and businesses to create powerful decentralised applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face, such as slow performance and instability. The HBAR token has a dual role within the Hedera public network.

HBAR Price Analysis

At the time of writing, HBAR is ranked the 39^th cryptocurrency globally and the current price is US$0.2504. Let’s take a look at the chart below for price analysis:

HBAR‘s 109% September run retraced almost to its origin, narrowly missing probable support near $0.2395 before bears swatted down the bounce near resistance around $0.2589.

With the daily gap between $0.2312 and $0.2264 almost filled in a single wick, the price may not need to revisit areas below this level. However, the safer entry is still in probable support between $0.2145 and $0.1926, which would also sweep the lows of last week’s bounce.

The relatively equal highs near $0.2822 provide a likely first target on lower timeframes. However, the resistance beginning at $0.3135 may initially suppress a further move up.

A clean break through this resistance will need to contend with the next resistance near $0.3392, under the last swing high. This swing high at $0.3570 gives a reasonable take-profit area before a possible move to the 1.0 extension near $0.4065.

3. Dydx (DYDX)

DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol. By enabling shared control of the protocol, DYDX allows traders, liquidity providers and partners of dYdX to work collectively towards an enhanced Protocol. DYDX enables a robust ecosystem around governance, rewards and staking, each designed to drive future growth and decentralisation of dYdX, resulting in a better experience for users.

DYDX Price Analysis

At the time of writing, DYDX is ranked the 128^th cryptocurrency globally and the current price is US$8.93. Let’s take a look at the chart below for price analysis:

DYDX consolidates between $11.42 and $8.35 with the bulk of the volume concentrated in the lower half of the range. The price does not indicate a clear longer-term direction yet as stop orders build on both sides of the range.

Range traders will likely take profits or sell near $9.73. A stop run and swift rejection above $10.54 could provide a more favourable risk-to-reward entry for bears. An old 4h gap around $11.94 might cap this stop run.

Bulls will likely accumulate more long positions on a run below the relatively equal lows near $8.65. Little exists below the current range to identify precise support levels. However, the area between $8.12 and $7.69 could also give support during a deeper stop run.

If the price does break out decisively to the upside, the swing high at $12.70 provides a reasonable target. The highs and daily resistance levels between $13.47 and $15.32 may provide a second target.

Learn How to Trade Live!

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

Duration: 6-week course
From: November 15 to December 22
Date/Time: Twice a week, Mon and Wed at 7pm AEST
Location: Zoom webinar

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. 

CLV is trading in an uptrend, like many other Altcoins. The cryptocurrency CLV gained over +65% in a single day by breaking a falling wedge pattern with strong buying volume on multiple exchanges and surged over +85% in a week.

What is Clover Finance?

Clover CLV is a Polkadot parachain, committed to providing easy-to-use blockchain infrastructure and creating a one-stop EVM-compatible framework for substrate-based applications. The CLV token is used to pay for Clover transactions and to vote for network upgrades. Clover also aims to enable interoperability between Bitcoin and other blockchains.

CLV Price Analysis

At the time of writing, CLV is ranked the 290^th cryptocurrency globally and the current price is US$1.03. Let’s take a look at the chart below for price analysis:

After looking at the above 4-Hour candle chart, we can clearly see that CLV was trading inside the falling wedge pattern on the CLV/USDT pair. The first resistance was on the $0.87 price level, which CLV broke with a strong bullish trend buying volume and is now heading towards the recent high price at $1.35. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, CLV may continue to increase in the uptrend if traders keep buying with high volume.

“The falling wedge pattern is characterised by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam.”

What Do the Technical Indicators Say?

The CLV TradingView indicators (on the 1-day) mainly indicate CLV as a Buy, except the Oscillators which indicate CLV as a Neutral.

So Why Did CLV Break Out?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying CLV for the coming Altcoins rally. Recent news was also announced regarding Clover’s partnership with Realy Metaverse.

Learn How to Trade Live!

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

Duration: 6-week course
From: November 15 to December 22
Date/Time: Twice a week, Mon and Wed at 7pm AEST
Location: Zoom webinar

Where to Buy or Trade CLV?

CLV has the highest liquidity on Binance Exchange, so that would help for trading CLV/BTC or CLV/USDT pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

FLUX is trading in an uptrend, like many other Altcoins. The cryptocurrency FLUX just pumped upto +420% in a single day by breaking a falling wedge pattern with strong buying volume on multiple exchanges and surges over +485% in a week.

What is FLUX?

FLUX is the new generation of scalable decentralised cloud infrastructure. Simply develop, manage, and spawn your applications on multiple servers at once. Ready for Web 3.0, Dapps, and more. The Flux Ecosystem is a fully-operational suite of decentralised computing services and blockchain-as-a-service solutions which offer an interoperable, decentralised, AWS-like development environment. Flux a native GPU mineable POW (Proof of Work) coin providing incentive for hardware hosters, XDAO governance on-chain, and bad actor mitigation via staking requirements for running hardware.

FLUX Price Analysis

At the time of writing, FLUX is ranked the 130^th cryptocurrency globally and the current price is US$2.52. Let’s take a look at the chart below for price analysis:

After looking at the above 4-Hour candle chart, we can clearly see that FLUX was trading inside the falling wedge pattern on the FLUX/USDT pair. The first resistance was on the $1.40 price level, which FLUX broke with a strong bullish trend buying volume and is now heading towards the recent high price at $3.35. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, FLUX may continue to increase in the uptrend if traders keep buying with high volume.

“The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam.”

What Do the Technical Indicators Say?

The FLUX TradingView indicators (on the 1-day) mainly indicate FLUX as a Strong Buy, except the Oscillators which indicate FLUX as a Neutral.

So Why Did FLUX Break Out?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying FLUX for the coming Altcoins rally. Recent news was also announced regarding FLUX Listing on Binance with different trading pairs.

Learn How to Trade Live!

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

Duration: 6-week course
From: November 15 to December 22
Date/Time: Twice a week, Mon and Wed at 7pm AEST
Location: Zoom webinar

Where to Buy or Trade FLUX?

FLUX has the highest liquidity on Binance Exchange, so that would help for trading FLUX/BTC or FLUX/USDT pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. You can also buy FLUX from different exchanges listed on Coinmarketcap.