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. Kava.io (KAVA)

Kava.io KAVA is a cross-chain DeFi lending platform that allows users to borrow USDX stablecoins and deposit a variety of cryptocurrencies to begin earning a yield. The Kava DeFi hub operates as a decentralised bank for digital assets, allowing users to access a range of decentralised financial services, including its native USD-pegged stablecoin USDX, as well as synthetics and derivatives. Through Kava, users are able to borrow USDX tokens by depositing collateral, effectively leveraging their exposure to crypto assets.

KAVA Price Analysis

At the time of writing, KAVA is ranked the 124^th cryptocurrency globally and the current price is A$7.64. Let’s take a look at the chart below for price analysis:

During August, KAVA broke several swing highs that could be the signal for a new bullish trend.

Last week’s break of the most recent swing low could suggest some downside in the short term. It formed probable resistance near A$7.33 and may target the swing low and possible support near A$7.05.

The swing low and possible support near A$6.89 could be the second bearish target if the move down continues. The relatively equal lows near A$6.22 and possible support underneath near A$6.45 could provide more substantial support.

The last swing high near A$7.93 gives a near-term target if bullish continuation continues. However, resistance beginning around A$8.26 could cap this move. A break of this resistance might continue to probable resistance near A$8.65 and reach above the cluster of relatively equal highs near A$9.34.

2. 1inch (1INCH)

1INCH is a decentralised exchange (DEX) aggregator, connecting several DEXes into one platform to allow its users to find the most efficient swapping routes across all platforms. In order for users to find the best price for a swap, they need to look at every exchange – DEX aggregators eliminate the need for manually checking, bringing efficiency to swapping on DEXes. 1inch has launched its 1INCH governance token, and the 1inch Network began to be governed by a decentralised autonomous organisation (DAO).

1INCH Price Analysis

At the time of writing, 1INCH is ranked the 124^th cryptocurrency globally and the current price is A$3.72. Let’s take a look at the chart below for price analysis:

May marked a turning point for 1INCH, with the price rocketing up almost 175% from its lows to probable resistance beginning near A$5.13.

The price is currently struggling with the area between A$4.25 and A$3.47. This region could provide support after a close above – or resistance after a close below. 

A retracement could reach into the daily gap and possible support around A$3.41. A more bearish shift in the marketplace will likely aim for the relatively equal lows near A$3.25, and the potential support just below that begins around A$3.08.

Continuation to the upside will likely target the monthly high near A$3.90. However, probable resistance beginning at A$4.32 and A$4.77 could cap or slow down this move.

3. 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 A$48.56. Let’s take a look at the chart below for price analysis:

In July, LUNA also turned the corner, breaking a key swing high in mid-August. This move could suggest a longer-term bullish trend.

The swing high near A$53.02 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near A$59.68.

Even if the bullish trend continues, a stop run at the recent swing low near A$46.12 into possible support beginning near A$42.32 is reasonable. If the price reaches further down, the swing low and possible support near A$39.60 might provide another downside target. 

The area near A$38.24 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near A$36.48 into possible support beginning around A$34.57.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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

1. Alien Worlds (TLM)

Alien Worlds TLM is a decentralised, non-fungible token (NFT) metaverse where players compete for scarce resources, Trilium (TLM), in a simulated economy based around planetary worlds. Due to this, Alien Worlds also has a decentralised finance (DeFi) element to the game, as players advance by staking TLM and using TLM to vote in Planet Decentralised Autonomous Organisations (DAOs).

TLM Price Analysis

At the time of writing, TLM is ranked the 289^th cryptocurrency globally and the current price is A$0.2462. Let’s take a look at the chart below for price analysis:

TLM formed relatively equal lows near A$0.1574 after dropping over 71% during July. These lows could provide the target for another leg down, possibly finding support in the monthly gap of around A$0.1285. 

If this sweep of the A$0.2277 swing lows occurs, more aggressive bulls might begin bidding the weekly level near the swing low around A$0.2144. Should the market take a more bullish turn, the level just below near A$0.2033 could provide some short-term support.

The steep drop left large areas of inefficient price action, making the daily gap up to A$0.2736 likely to be touched or filled. A sustained move through this resistance could visit a significant area on the monthly and weekly chart near A$0.2905.

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 34^th cryptocurrency globally and the current price is A$300.10. Let’s take a look at the chart below for price analysis:

EGLD‘s stunning rally to A$381.45 has plummeted over 35% during September to sweep consolidation lows at A$289.76. This sweep of the lows could set the stage for a new bullish cycle to begin. 

The price is currently balancing around the monthly open. A quick stop run into support beginning near A$285.34 could set the stage for a move into the daily gap beginning near A$273.66 – potentially reaching resistance near A$310.46.

A sweep of the highs near A$317.55, followed by a sharp sell-off, could hint that the Bulls are preparing to run the swing high near A$326.18. This push could find resistance around A$334.89 in the candle wick that created the last week’s high. If the market remains bullish, the price will likely reach resistance near A$345.54.

3. Hedera Hashgraph (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 41^st cryptocurrency globally and the current price is A$0.4857. Let’s take a look at the chart below for price analysis:

July started a gradual 67% decline in HBAR‘s price. The move into August’s swing high saw a sharp jump in price, showing that some support exists near A$0.3655.

A sweep of the most recent swing lows into possible support beginning near A$0.4126 could lead to a rally over the monthly open. This rally would likely sweep the swing high into the resistance near A$0.5277. 

This potential bullish move could continue through the relatively equal swing highs near A$0.5621 – but is likely to find some resistance in the weekly level around A$0.5788.

Continued bearishness in the crypto markets might push the price to fill the weekly gap down to A$0.3400. This drop would sweep the stops under August’s low and potentially mark a new accumulation zone for the next bullish cycle.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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

1. 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 and receive liquidity provider (LP) tokens in return.

CAKE Price Analysis

At the time of writing, CAKE is ranked the 30^th cryptocurrency globally and the current price is A$27.65. Let’s take a look at the chart below for price analysis:

In mid-August, CAKE suggested the possible start of a new longer-term uptrend as the 9, 18, and 40 EMAs spread. At the same time, the price climbed from its May through July consolidation lows. 

Early September’s drop found some support around A$24.54, near the 78.6% retracement level, before creating a swing low and rallying over the 40 EMA. The nearby consolidation around the 61.8% retracement level could provide support if bulls add to their positions while the EMAs compress.

The price is currently testing old support that turned to resistance near A$32.34. If this resistance breaks, the price is likely to continue to, and possibly through, the last significant swing high and resistance beginning near A$36.08. 

A larger zone between A$41.41 and A$47.00, which surrounds the Q3 bear trend’s 61.8% retracement, could mark the end of the bullish move. On the other hand, if bulls show strength in this region – perhaps fuelled by increased interest from Wednesday’s NFT marketplace launch – the old high at A$61.12 gives a logical target for continuation.

However, the weakening of the last bull trend could also lead to a steeper drop in the short term. These deeper retracements often occur around this time of the month and after a major news event such as Wednesday’s launch. If this drop occurs, the price could reach down to broken resistances that may give support near A$24.54 or as low as A$22.22.

2. Fetch.ai (FET)

Fetch.ai FET is a platform that aims to connect Internet of Things (IoT) devices and algorithms to enable collective learning. Fetch.ai is built on a high-throughput sharded ledger and offers smart contract capabilities to deploy machine learning and artificial intelligence solutions for decentralised problem-solving. These open-source tools are designed to help users create ecosystem infrastructure and deploy commercial models.

FET Price Analysis

At the time of writing, FET is ranked the 121^st cryptocurrency globally and the current price is A$0.9653. Let’s take a look at the chart below for price analysis:

FET recently saw significant profit-taking after breaking its Q1 highs before dropping from its distribution range into the 40 EMA.

Aggressive bulls might add to their positions near possible support around A$0.9768, which has confluence with the 40 EMA, old highs, and is near the 78.6% retracement level. If this level holds, the price might find some resistance near A$1.09 – an area of broken support. 

However, today’s airdrop could be a catalyst for a short-term selloff as holders release their tokens on the market. A decisive break of this potential support zone near A$0.9725 will likely reach or exceed A$0.8145 and A$0.6134. 

These levels are old resistances that could turn to support. If so, they could cause a short-term bounce or start a new bullish trend targeting probable resistances beginning near A$1.92 and A$2.21.

3. Avalaunch (XAVA)

Avalaunch XAVA is a launchpad powered by the Avalanche platform, allowing new and innovative projects to seamlessly prepare for launch with an emphasis on fair and broad distribution. With its values deeply rooted in the early Avalanche community, they are able to offer projects confidently to informed users who are aligned with the long-term goals of the rapidly expanding application ecosystem.

XAVA Price Analysis

At the time of writing, XAVA is ranked the 2761^st cryptocurrency globally and the current price is A$5.61. Let’s take a look at the chart below for price analysis:

XAVA‘s retracement of the bullish trend turned the corner in early September. Currently, it’s consolidating just under the A$7.59 high.

The last swing high near A$5.80 marks an area of possible support for aggressive bulls and has confluence with the previous leg’s 61.8% retracement level and the 9 EMA. 

The 78.6% retracement level of the last leg up overlaps with another possible support near A$4.88 and could spark more interest from bulls looking for support just below the range EQ. 

A deeper retracement – more probable during the last 10 days of the month – could reach A$4.24, which is approximately where the price re-entered the old range. This level is also just below the 40 EMA, which can sometimes mark accumulation before a significant move higher.

Investor excitement about Wednesday’s IDO could help propel price through the A$7.59 high and lay the foundation for further continuation to near A$9.39. Longer-term, a sustained bullish trend fuelled by more real-world use cases built on XAVA could continue climbing to projected resistances near A$11.66, A$17.32 and A$20.70.

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 buy XAVA coin from multiple 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. Cosmos (ATOM)

Cosmos ATOM bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.

ATOM Price Analysis

At the time of writing, ATOM is ranked the 20^th cryptocurrency globally and the current price is A$60.26. Let’s take a look at the chart below for price analysis:

During August, ATOM broke several swing highs that could be the signal for a new bullish trend.

Last week’s break of the most recent swing low could suggest some downside in the short term. It formed probable resistance near A$55.78 and may target the swing low and possible support near A$52.39.

The swing low and possible support near A$50.00 could be the second bearish target if the move down continues. The relatively equal lows near A$48.95 and possible support underneath near A$47.55 could provide more substantial support.

The last swing high near A$65.46 gives a near-term target if bullish continuation continues. However, resistance beginning around A$63.88 could cap this move. A break of this resistance might continue to probable resistance near A$66.71 and reach above the cluster of relatively equal highs near A$68.02.

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 43^rd cryptocurrency globally and the current price is A$1.98. Let’s take a look at the chart below for price analysis:

Mid-August marked a turning point for FTM, with the price rocketing up almost 325% from its lows to probable resistance beginning near A$0.5266.

The price is currently struggling with the area between A$1.82 and A$1.97. This region could provide support after a close above – or resistance after a close below. 

A retracement could reach into the daily gap and possible support around A$1.90. A more bearish shift in the marketplace will likely aim for the relatively equal lows near A$1.83, and the potential support just below that begins around A$1.75.

Continuation to the upside will likely target the all-time high near A$2.12. However, probable resistance beginning at A$2.05 and A$2.09 could cap or slow down this move.

3. Nervos Network (CKB)

The Nervos Network CKB describes itself as an open-source public blockchain ecosystem and collection of protocols. The Nervos CKB (Common Knowledge Base) is the layer 1, proof of work public blockchain protocol of the Nervos Network. It reportedly allows any crypto asset to be stored with the security, immutability, and permissionless nature of Bitcoin while enabling smart contracts and layer 2 scaling. It aims to capture the total network value through its “store of value” crypto-economic design and native token, the CKByte.

CKB Price Analysis

At the time of writing, CKB is ranked the 131^st cryptocurrency globally and the current price is A$0.02418. Let’s take a look at the chart below for price analysis:

In mid-July, CKB also turned the corner, breaking a key swing high in early August. This move could suggest a longer-term bullish trend.

The swing high near A$0.02534 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near $0.02756.

Even if the bullish trend continues, a stop run at the recent swing low near A$0.02134 into possible support beginning near A$0.01988 is reasonable. If the price reaches further down, the swing low and possible support near A$0.01847 might provide another downside target. 

The area near A$0.01805 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near A$0.01688 into possible support beginning around A$0.01590.

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.

ACM Fan Token is trading in an uptrend, like many other Altcoins. The cryptocurrency ACM just went up +85% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +130% in a week.

What is ACM Fan Token?

The AC Milan Fan Token ACM is a utility token that gives AC Milan fans a tokenized share of influence on club decisions using the Socios application and services. The token serves as a membership key that allows users to compete for exclusive rewards, club recognition, and more.ACM token holders can vote via smart contract on “fan decision” polls published by AC Milan. Token holders can interact with the Socios platform (voting on polls, competing in contests and quizzes, connecting/chatting with like-minded users, etc.) and earn rewards.

ACM Price Analysis

At the time of writing, ACM is ranked the 570^th cryptocurrency globally and the current price is A$19.44. Let’s take a look at the chart below for price analysis:

After looking at the above 1-Day candle chart, we can clearly see that ACM was trading inside the rising wedge pattern on the ACM/USDT pair. The first resistance was on the A$13.82 price level, which ACM broke with a strong bullish trend buying volume and is now heading towards the recent high price at A$20.17. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, ACM may continue to increase in the uptrend if traders keep buying with high volume.

“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”

What Do the Technical Indicators Say?

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

So Why Did ACM Breakout?

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 ACM for the coming Altcoins rally. Recent news was also announced regarding the Partnership between FTX and Chiliz.

Amazing partnership between @FTX_Official and @chiliz to promote and launches Fan Tokens on their platform. $CHZ Fan Tokens distribution is getting more and more distributed with all the biggest crypto exchanges. Stay tuned. https://t.co/fEmd2igqpQ

— Alexandre Dreyfus (@alex_dreyfus) September 14, 2021

Where to Buy or Trade ACM?

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