While much of the focus has been on its recent run on the back of strong fundamentals, bitcoin quietly achieved a new milestone – hitting an all-time-high of U$378 billion in “realised market cap”.
The standard measurement of market capitalisation is a simple multiplication of all coins in circulation by the current price. At the time of publication, bitcoin’s total market cap is $US899 billion.
Realised market cap, by contrast, is a method of assessing bitcoin’s market cap based on the price at which each coin last moved. Put differently, it measures how much “active” money is in the bitcoin market.
Realised market cap therefore measures the size of bitcoin’s active market cap, which specifically excludes holdings that haven’t changed hands for a long time (ie, long-term HODLers and Satoshi’s stash).
📈 #Bitcoin$BTC Realized Cap just reached an ATH of $378,768,190,450.72
To determine realised market cap, data providers like Glassnode assign time-sensitive values to coins. If, for example, a coin last moved in 2018, when the price of bitcoin was US$6,000, that coin is then priced at US$6,000 rather than at today’s price.
It may also be useful to note that where the market cap trades above realised cap, the market is in aggregate profit. The inverse applies when market cap trades below realised cap.
If this all sounds a bit technical, Willy Woo breaks it down in simple terms:
Translation: The capital stored in the #Bitcoin network just broke an all-time-highs.
The network has more money in it today at $47k than it did at $64k in April.
Realised Cap estimates this by summing the price paid for every coin in BTC's circulating supply. https://t.co/a7cCbXAmXS
Bitcoin is up 8 percent on the week and is currently trading at US$47,800. Analysts suggest it may continue to trade in the US$45,000-$50,000 band for some time, while others are eyeing a strong breakout in coming weeks above US$50,000.
For those less interested in short-term price fluctuations and who are in it for the long haul, the chart below offers a useful roadmap of where bitcoin may be going in the next few years. On a linear chart, bitcoin is all over the map. However, on a log-chart (as shown below), the growth trajectory in bitcoin is self-evident.
The easiest, and potentially best, strategy is to simply stack sats and HODL.
BTC pricewith stock to flow model. Source: ChartsBTC
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Lisk (LSK)
Lisk LSK is a blockchain application platform aiming to create an accessible future where everyone can benefit from decentralised technology. Lisk enables developers to build applications as well as deploy a side-chain linked to the Lisk network that includes a custom token. Lisk empowers developers with a software development kit for blockchain applications and is working on an interoperability solution that will in turn let everyone seamlessly use it on the platform.
LSK Price Analysis
At the time of writing, LSK is ranked the 114th cryptocurrency globally and the current price is A$6.22. Let’s take a look at the chart below for price analysis:
LSK‘s nearly 87% retracement from its early May high found a low near A$2.06 in late June before July’s bullish trend began.
The price is currently approaching resistance at a swing high near A$6.42. If this level breaks, bulls might target the swing highs near A$7.46, A$9.11, and potentially up to A$10.39. Resistance near A$7.81 and A$9.49 could cap this move.
If the market remains bullish for the near term, bulls might buy at A$5.57. However, a stop run into A$4.84 could offer a higher probability entry. A steeper drop could reach below the swing low into possible support near A$4.08.
2. TrueFi (TRU)
TrueFi TRU is a protocol for creating interest-bearing pools with a high APR for liquidity providers. TrueFi includes utility and rewards mechanisms using TrustTokens TRU and rewards participants for maintaining stable, high APRs. TRU is the native token of the TrueFi protocol and TrustToken holders ultimately have a say over who is a credible borrower in the prediction market. TRU gives the holder the ability to rate credit for third parties.
TRU Price Analysis
At the time of writing, TRU is ranked the 337th cryptocurrency globally and the current price is A$0.9112. Let’s take a look at the chart below for price analysis:
TRU‘s chart paints a different picture than many other altcoins, with February’s high leading to a massive range before setting a low near A$0.1655 in July.
The nearly 576% spike within three days at the beginning of August makes immediate bids questionable. However, the price may be finding support near A$0.8516 and possibly near A$0.7426. Since the price swept the impulse’s high at A$1.36, bulls might be waiting to enter near the swing low and gap near A$0.5960, or slightly lower near A$0.4890.
Little resistance lies overhead, although some resistance might exist between A$0.9950 and approximately A$1.17, just above the current price. A sweep and rejection of the high near A$1.45 would make most areas of possible support highly suspect and could mark the end of the bullish trend.
3. Verge (XVG)
Verge XVG is a privacy-focused cryptocurrency and blockchain that seeks to offer a fast, efficient, decentralised payments network that improves on the original Bitcoin blockchain. It includes additional privacy features including integrating the anonymity network Tor into its wallet, called Verge Pay, and providing the option of sending transactions to stealth addresses. The project describes itself as community-driven, relying on volunteers and priding itself on being open-source.
XVG Price Analysis
At the time of writing, XVG is ranked the 112th cryptocurrency globally and the current price is A$0.04893. Let’s take a look at the chart below for price analysis:
Like many other altcoins, XVG set a high in early May before retracing 83% to the low at A$0.0205 in May.
Price broke through resistance near A$0.0334, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near A$0.0269. However, a drop this far increases the chances of a stop run to A$0.0204 and possibly into support near A$0.0136. For now, continuing bullish market conditions could help A$0.0461 become support.
The swing high around A$0.0526 gives bulls a reasonable first target, with A$0.0550 also likely to draw the price upward. Higher-timeframe resistance beginning near A$0.0485 or A$0.0550 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near A$0.0648.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
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. Clover Finance (CLV)
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 256th cryptocurrency globally and the current price is A$2.06. Let’s take a look at the chart below for price analysis:
After climbing nearly 65% since the August monthly open, a 15% range has trapped CLV between A$1.80 and A$2.25.
A consolidation near A$1.95, visible on the chart, provided support on the last touch. This level could provide support again on a stop run under A$1.87.
A deeper run-on stop at A$2.07 might reach the top of a higher-timeframe gap at the same level. However, a push this low reduces the chance of a new all-time high soon. Below, little significant support exists until A$2.00.
Higher-timeframe levels overlapping with a daily gap beginning at A$2.16 are likely to provide resistance, perhaps on a sweep of the equal highs near A$2.24. Breaking this resistance makes the relatively equal highs near A$2.30 and the all-time high at A$2.37 the next probable targets.
2. 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 22nd cryptocurrency globally and the current price is A$9.55. Let’s take a look at the chart below for price analysis:
THETA’s euphoric early-June pump turned into a late-July dump, with little higher-timeframe support for bulls to justify entries.
Currently, the price is distributing at the 52% retracement level. A small consolidation near A$9.12 is visible on the daily chart. This area does have some confluence with the retracement level and could offer some support in the future.
The daily gap’s midpoint near A$9.85 has suppressed the price, although a push through this level could fill the daily gap up to A$12.76. A lack of sensitivity at this resistance could suggest a minor retracement before a possible move to new monthly highs.
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. It launched in September 2020 and is a decentralised exchange for swapping BEP20 tokens on Binance Smart Chain. 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.
CAKE Price Analysis
At the time of writing, CAKE is ranked the 34th cryptocurrency globally and the current price is A$27.71. Let’s take a look at the chart below for price analysis:
CAKE’s 315% pump during Q2 ran into resistance near A$22.36 on June 10. Since then, the price has been consolidating in a 120% range between A$16.21 and $25.14.
Just below the August open, A$19.58 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near A$18.00 might cap a run on the lows near A$17.66 and $16.98.
The higher-timeframe analysis points to the area near A$31.79 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near A$36.44 and A$40.37 may be the next targets.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
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. Verge (XVG)
Verge XVG is a privacy-focused cryptocurrency and blockchain that seeks to offer a fast, efficient, decentralised payments network that improves upon the original Bitcoin blockchain. It includes additional privacy features including integrating the anonymity network Tor into its wallet, called Verge Pay, and providing the option of sending transactions to stealth addresses. The project describes itself as community-driven, relying on volunteers and priding itself on being open-source.
XVG Price Analysis
At the time of writing, XVG is ranked the 117th cryptocurrency globally and the current price is A$0.03935. Let’s take a look at the chart below for price analysis:
XVG retraced 48% during July before finding support near A$0.02944. The following bounce encountered resistance at the daily gap near A$0.03215.
Bulls might wait for a sweep of the local lows into support near A$0.02778 before stepping in. A move to this level could reach into the higher timeframe gap down to A$0.02459.
In the most bearish scenario, a significant turn in the market could push the price down to the consolidation near A$0.02214.
The local resistance near A$0.04487 and the relatively equal swing highs provide a reasonable first target. Just above, layered resistance near A$0.04952 and A$0.05311 could slow bulls down as they push the price towards the significant swing high at A$0.05641.
2. Ripple (XRP)
Ripple XRP is the catch-all name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network that requires various parties to participate in validating transactions, rather than any singular centralised authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.
XRP Price Analysis
At the time of writing, XRP is ranked the 6th cryptocurrency globally and the current price is A$1.29. Let’s take a look at the chart below for price analysis:
XRP marines continue pushing the price higher, printing nearly 35% gains during the second week of August.
The consolidation near A$1.20 is likely to provide support as the price continues exploring new highs. However, a set of relatively equal lows near A$1.12 provides a tempting target for a stop run into probable support near A$1.00.
A decidedly bearish shift in the market could reach probable support near A$0.9455, near August’s monthly open.
Almost no resistance lies overhead, although low-timeframe traders can use the resistance below recent highs near A$1.38 as a first target. Beyond this level, extensions near A$1.47, A$1.55 and A$1.62 give reasonable higher-timeframe targets.
3. Cardano (ADA)
Cardano ADA is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods. The team behind the layered blockchain says that there have already been some compelling use cases for its technology, which aims to allow decentralised apps and smart contracts to be developed with modularity.
ADA Price Analysis
At the time of writing, ADA is ranked the 5th cryptocurrency globally and the current price is A$2.34. Let’s take a look at the chart below for price analysis:
ADA bulls have enjoyed over 95% returns since the July lows, with little resistance above to end the current price discovery.
The price may find support near A$2.11. Still, aggressive bulls should be wary of a potential stop run under the monthly open into support near A$0.9544. The area around A$0.8291 should provide strong support if the price reaches this low.
The air above the current price is thin, but the level near A$2.47 could potentially provide some resistance in the short term. Extensions reaching near A$2.59 and A$2.71 make reasonable take-profit zones if the bullish trend continues.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
The bitcoin golden cross is a highly anticipated technical indicator that typical foreshadows bullish price action. Bitcoin analysts, investors and traders are looking closely at current price movements which at present suggest a strong push is imminent in the coming weeks.
#Bitcoin has crossed back above the 200-Day Moving Average and confirms a continuation of the long term bullish trend. The moving average crossover and potential upcoming golden cross are just two out of many technical indicators pointing towards #bullish things to come for $BTC.
According to Binance Academy, a golden cross is a chart pattern where a shorter-term moving average (MA) crosses above a longer-term moving average. This is typically considered to be a bullish signal.
A golden cross occurs in three phases:
There’s a downtrend where the shorter-term MA is below the longer-term MA.
The market reverses and the shorter-term MA crosses over the longer-term MA.
A continued uptrend starts and the shorter-term MA stays above the longer-term MA.
When considering a golden cross, the most commonly used moving averages are the 50- and 200-day periods. Once the crossover happens, the longer-term moving average is typically considered to be a strong area of support.
Golden cross example. Source: Binance Academy
The opposite of a golden cross is a death cross, where a shorter-term moving average crosses below a longer-term moving average. This is typically considered to be a bearish signal.
Potential Signs of Bitcoin Golden Cross
The chart below illustrates the potential intersection between the blue line (50-day MA) and black line (200-day MA), signalling a potential golden cross. Notice the inverse (death cross) that occurred towards the end of June highlighting a market crippled by fear.
Will US$50,000 Prove to Be a Strong Resistance Level?
Despite the bullish talk of golden crosses and positive on-chain metrics, others have been more circumspect suggesting that bitcoin first needs to overcome the psychological barrier of US$50,000.
At this point, momentum appears to have shifted towards the bulls. Well-known podcaster Scott Melker seems to think so too and offers some interesting insights into the current market dynamics.
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. 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 (DAO) and non-fungible tokens (NFTs), The Sandbox creates a decentralised platform for a thriving gaming community. The Sandbox platform’s main mission is to successfully introduce blockchain technology in mainstream gaming.
SAND Price Analysis
At the time of writing, SAND is ranked the 124th cryptocurrency globally and the current price is A$0.9314. Let’s take a look at the chart below for price analysis:
SAND’s 89% decline during July created relatively equal lows near A$0.3155 before bouncing over the local range’s midpoint near A$0.4812. A bullish altcoin market could help SAND bulls regain a stronger bullish trend.
Aggressive bulls could look for entries in the daily gap starting near A$0.8135. The May monthly open aligns with more probable support near A$0.7344.
A stop run below the monthly open near A$0.7122 might allow a more favourable entry. A more substantial bearish move – perhaps from a sharp drop in bitcoin’s price – could challenge support near A$0.6711, just above the equal lows.
Resistance rests just above, with the zone from A$0.9945 to A$1.08 likely to provide a short-term ceiling. A break through this level might target resistance just under the cluster of relatively equal highs near A$1.12.
Beyond these highs, resistance near A$1.22 provides a final challenge before attacking a new swing high near A$1.35.
2. StormX (STMX)
StormX STMX is one of the first global cryptocurrency-based solutions to reach worldwide markets. As a mobile app and browser extension, StormX aims to bring users cashback in crypto for most of their online purchases. With enterprise partners like Samsung, Nike and Lego, StormX also allows users to stake the native STMX token to boost their rewards. The company has already attracted investments from Blockfolio, Litecoin Foundation and Kyber Network. StormX has successfully developed its product and has become an industry leader in the crypto cashback community.
STMX Price Analysis
At the time of writing, STMX is ranked the 154th cryptocurrency globally and the current price is A$0.04069. Let’s take a look at the chart below for price analysis:
STMX continues to set new monthly highs in its chaotic upwards trend. Support might be found in the daily gap above the August monthly open near A$0.03555. A deeper retracement is likely to target the relatively equal lows into support near A$0.02968.
The daily gap near A$0.02714 could also provide support. However, another gap inside the down candles, around A$0.02574, provides the highest chances of solid support while offering a high risk-reward entry.
There is currently no resistance overhead since the price is in discovery. Extensions hint at the areas around A$0.04925 and A$0.05586 as reasonable take-profit zones.
3. OMG Network (OMG)
OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network. The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain.
OMG Price Analysis
At the time of writing, OMG is ranked the 104th cryptocurrency globally and the current price is A$7.36. Let’s take a look at the chart below for price analysis:
OMG holders endured a wild May as the price rallied over 118% before running the month’s lows. This stop run could set the stage for another rally. However, the recent volatility means bulls should be extra cautious with stop placement.
Bulls might find support around the current price near A$6.88. The next high probability support rests near A$5.45, below the last two swing lows. A move this deep could sweep July’s low into an area near A$4.88.
The price is currently struggling with resistance near A$7.85 at the June monthly open. A strong move into this resistance is likely to target the swing high near A$8.15.
Above this swing high, June’s monthly high at A$8.64 is the next likely target, which also marks another wide resistance zone. Volatility inside this resistance could tag an old monthly high at A$9.51.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
IOTX is trading in an uptrend, like many other Altcoins. The cryptocurrency IOTX just went up +215% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +395% in a week.
What is IOTX?
IoTeX IOTX has built a decentralised platform whose aim is to empower the open economics for machines in an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives. With a global team of more than 40 research scientists and engineers, IoTeX has built its EVM-compatible blockchain from scratch using the innovative Roll-DPoS consensus.
IOTX Price Analysis
At the time of writing, IOTX is ranked the 96th cryptocurrency globally and the current price is A$0.1133. 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 IOTX was trading inside the rising wedge pattern on the IOTX/USDT pair. The first resistance was on the A$0.04957 price level, which IOTX broke with a strong bullish trend buying volume and is now heading towards the all-time high price at A$0.1285. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery, IOTX 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?
TradingView indicators (on the one-day window) mainly suggest IOTX as a Strong Buy, except the Oscillators, which indicate IOTX as a Neutral.
So Why Did IOTX Breakout?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying IOTX for the next Altcoins rally. Recent news was also announced regarding Coinbase Pro listing IOTX on its exchange.
As the first Blockchain + IoT project on Coinbase, IoTeX will reach millions of new users. More game-changing ecosystem announcements are coming soon. Get ready for hyper-growth!
IOTX has high liquidity on the Binance exchange, which could help for trading IOTX/BTC or IOTX/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin from different exchanges listed on Coinmarketcap.
The evidence is mounting that bitcoin is likely to continue its recent upwards price momentum. In what is widely regarded as a bullish market signal for the asset, bitcoin has now risen above the 200-day simple moving average (MA), an indicator watched closely by investors to determine whether the asset is trending either bullish or bearish.
In advance, analysts were broadly in agreement that a daily close above bitcoin’s 200 MA was bullish.
#Bitcoin technical update: Robust price action with strong support at ~$42k.
Macro: Bullish To news: Acting well On-chain: Bullish
Opinion: Needs daily close above 200-day MA ($44,982) to officially regain momentum traders. Wall of money on sidelines since Apr starting to enter pic.twitter.com/td6XMT1Xp6
Once the 200 day MA was surpassed, analysts began offering suggestions as to what sort of resistance might be on the horizon.
Katie Stockton of Fairlead Strategies argued that if the price continued upwards as she expected, it was likely to encounter resistance close to US$51,000. William Noble, chief technical analyst of research platform Token Metrics, offered similar input:
$43,700 is an important resistance point for bitcoin … if bitcoin moves above that level, and successfully retests it, the uptrend can accelerate. $49,000 could be the next stop and I would not rule out a gap move back to the highs at $64,000.
William Noble, chief technical analyst, Token Metrics
Others, such as Jake Wujastyk of TrendSpider, put the resistance level for bitcoin around US$45,000. According to him, the next level to watch above this would be the US$50,000 psychological level.
This sentiment was shared by John Iadeluca, founder and CEO of Banz Capital:
The price of $50,000 stands as a key psychological, as well as technical, level that holds immense selling pressure.
Focusing on on-chain analytics, Will Clemente suggested that bitcoin still had some way to go to address the current supply shock under way:
After another little uptick in illiquid supply shock ratio today, Bitcoin still needs to go to $55K-$57K just to make up for the current imbalance of liquid supply. pic.twitter.com/7HZLYTzulw
Remarkably, bitcoin’s current upwards trend is happening at a time of great regulatory uncertainty in the US, where a bill looks set to be passed that will have deleterious consequences for the entire crypto industry. For some reason or another, bitcoin doesn’t seem to care.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Polkadot (DOT)
Polkadot DOT is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain,
DOT Price Analysis
At the time of writing, DOT is ranked the 9th cryptocurrency globally and the current price is A$28.02. Let’s take a look at the chart below for price analysis:
After its early Q2 bullrun, DOT has been ranging between approximately A$21.05 and A$32.45.
Last week’s sharp decline ran equal lows into a gap on the daily chart. This down move could set the stage for an attack on the relatively equal highs near A$29.34 if the price can break probable resistance near A$32.78 and A$34.21.
Above these highs, resistance near A$39.54 could halt a bullish move, although reaching the monthly high at A$45.32 is possible.
Aggressive bulls might look for entries in possible support near A$25.86 and A$24.00, just below the current price. If the price sweeps last week’s low, the levels near A$23.59 and A$21.48 may also provide support.
2. Tezos (XTZ)
Tezos XTZ is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.
XTZ Price Analysis
At the time of writing, XTZ is ranked the 45th cryptocurrency globally and the current price is A$4.35. Let’s take a look at the chart below for price analysis:
XTZ’s spectacular May pump has retraced most of its gains as it finds support near A$3.47.
Stops under the relatively equal lows near A$4.12 might be swept, along with the swing low near A$3.89. If this sweep happens, the price could find support near A$3.55. A move further down could find more support near A$3.27.
Spikes upward are likely to encounter resistance beginning near A$4.88. If the bullish trend resumes after re-accumulation, some traders might take profits as the price approaches probable resistance starting around A$5.13 and A$5.38.
The monthly peak near A$6.12 provides a clear first primary target. Any price moves beyond this level are challenging to predict from current price action for the short-term trade.
3. MIOTA (IOTA)
IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains and an ideal footprint for the ever-expanding Internet of Things ecosystem.
IOTA Price Analysis
At the time of writing, IOTA is ranked the 47th cryptocurrency globally and the current price is A$1.30. Let’s take a look at the chart below for price analysis:
The second half of May punished IOTA bulls with a nearly 72% drop before the price found support near an old swing low around A$1.05.
Aggressive bulls might look for entries at possible support beginning near A$1.15. However, stops under the equal lows near A$0.9355 are likely to be swept.
The area near A$1.00 provides a possible target for this stop run if it occurs. A more sustained bearish trend could reach down to the broad zone of possible support between A$0.8945 and A$0.8236.
The price is currently challenging resistance at a gap beginning near A$1.49. If this level breaks, bulls could find more resistance near A$1.65 while targeting the highs up to A$1.77.
A sweep of these highs is likely to find resistance by the time price reaches the area near A$1.96. The next reasonable targets would be the swing highs and resistance near A$2.31 and A$2.54.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
Lionel Messi’s departure from Barcelona to a rumoured new destination at Paris Saint-Germain has caused PSG Fan Token to surge almost 62 percent, while its volume ballooned 500 percent.
Argentine Messi, widely acknowledged as the world’s greatest footballer, is reportedly in talks with the French club and is on the verge of signing a contract.
Paris Saint-Germain is a possibility, yes. At the moment nothing is confirmed, I received a lot of calls after the Barcelona statement. We’re talking about it.
Lionel Messi
The PSG fan token ($PSG), listed on the blockchain-led ERC-20 platform of the Ethereum network, is a proof of membership for the Paris-based football club. The token, available for trade in a limited number, also provides holders with the club’s governance rights.
$PSG, ranked 406th on CoinMarketCap, is trading at US$51.59 with a 24-hour trading volume of US$786 million against its current market cap of $66 million. It has a maximum supply of 20 million tokens, with 100 per cent of coins currently in circulation.
Price Still Up 20 Percent After Retracement
The price moved from US$29 to over $44 in 24 hours after the Messi news broke. It has since retraced slightly but is still up more than 20 percent.
PSD USDT token price
Messi’s contract with Barcelona expired on June 30, at which time he became a free agent for the club. Although both parties agreed to a five-year contract extension, La Liga’s salary cap rules preclude a renewal.
I gave everything for this club from the first day I arrived to the last. I never imagined having to say goodbye as I didn’t think about it. What’s clear is I did everything possible, and they [Barcelona] couldn’t do it because of La Liga.
Lionel Messi
Multiple sources suggest Messi is moving to France to join former Barcelona teammate Neymar da Silva Santos at Paris Saint-Germain.
Token Set to Break US$100 Barrier
$PSG is expected to break the US$100 mark when Messi officially joins Paris Saint-Germain. Since its release in June 2020, the token has risen over 821 percent and yielded 855 percent returns in the past year.
PSG tokens are available for trade on Binance, Gate.io, Paribu, Upbit and HitBTC. It is exchangeable through Tether (USDT), Binance’s stablecoin (BUSD), Bitcoin (BTC), Chiliz (CHZ) and Trias (TRY).
Last week, it was announced that a Messi-themed NFT collection dubbed “The Messiverse” will be available from August 20 on blockchain platform Ethernity Chain (ERN).
