Category: Market Analysis

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Crypto News Market Analysis Trading

DForce Breakout Analysis – Parabolic Breakout on DF with +76% Gains in a Single Day

Breakout Analysis

DForce DF is flipping on a 1-hour candle chart, DF just went up over +76% in a single day. Let’s take a quick look at DF, price analysis, and possible reasons for the recent breakout.

What is DForce?

DF is the platform utility token of the DForce network, an integrated and interoperable DeFi platform. It will be used for transaction services, community governance, system stabilizer, incentivization, and validator deposits.

DForce Quick Stats

SYMBOL:DF
Global rank:414
Market cap:$19,107,370 AUD
Current price:$0.2100 AUD
All time high price:$1.56 AUD
1 day:+76.41%
7 day:+107.70%
1 year:+148.74%

DForce Price Analysis

At the time of writing, DF is ranked 414th cryptocurrency globally and the current price is $0.2100 AUD. This is a +107.70% increase since 5th December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 1-hour candle chart, DF did a strong breakout from the falling wedge pattern & is now heading towards its major resistance of the month. After BTC crashed the Altcoins market today with a -3% drop in its price, DF looks well-positioned to hit the next high price levels.

“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

What do the technical indicators say?

The DForce TradingView indicators (on the 1 day) mainly indicate DF as a buy, except the Oscillators which indicate DF as a neutral.

So Why did DForce Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying Dforce for the next Altcoins rally & it could also be contributed to some of the recent events & announcement where Binance Lists DForce DF.

Recent DForce News & Events:

Where to Buy or Trade DForce?

DForce has the highest liquidity on Binance Exchange so that would help for trading DF/BUSD or DF/ETH pairs. However, you can also buy DForce from different exchanges listed on Coinmarketcap.

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Crypto News Market Analysis Nucleus Vision Trading

Nucleus Vision Breakout Analysis – Parabolic Breakout on NCASH with +51% Gains in a Week

Nucleus Vision was trading sideways on a 4-hour candle chart and it just went up over +51% in a week by breaking all previous resistances. Let’s take a quick look at NCASH, price analysis, and possible reasons for the recent breakout.

What is Nucleus Vision?

Launched in 2014, Nucleus Vision, also known as NCash, aims to bridge the divide between the online and offline retail world. The project is an IoT-based, contactless identification system that enables retailers to identify and better serve their customers by using customer’s records to make precise decisions on product preferences without the use of WiFi or Bluetooth.

NCASH Quick Stats

SYMBOL:NCASH
Global rank:714
Market cap:$7,190,556 AUD
Current price:$0.0010 AUD
All time high price:$0.0680 AUD
1 day:+26.41%
7 day:+51.73%
1 year:+99.35%

NCASH Price Analysis

At the time of writing, NCASH is ranked 714th cryptocurrency globally and the current price is $0.0010 AUD. This is a +51.73% increase since 7th December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

After looking at the above 4-hour candle chart, we can clearly see that NCASH was trading inside the inverse head and shoulders pattern on the NCASH/ETH pair. The first resistance was on the $0.0008 AUD price level which NCASH broke with a strong bullish trend buying volume and is now heading towards the previous monthly resistance. Seeing that many altcoins are waking up bullish today, NCASH is likely to continue to increase.

“An inverse head and shoulders pattern is comprised of three component parts: After long bearish trends, the price falls to a trough and subsequently rises to form a peak. … The price falls for the third time, but only to the level of the first trough, before rising once more and reversing the trend.”

What do the Technical indicators say?

The  NCASH TradingView indicators (on the 1 day) mainly indicate NCASH as a buy, except the Moving Averages which indicate NCASH as a strong buy.

So Why did NCASH Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up NCASH to their portfolio for this Altcoin rally. It could also be contributed to some of the recent news for Point-Of-Sale Financing.

Recent NCASH News & Events:

Where to Buy or Trade NCASH?

Nucleus Vision has the highest liquidity on Binance Exchange so that would help for trading NCASH/BTC or NCASH/ETH pairs. However, you can also buy from other different exchanges listed in Coinmarketcap.

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Crypto News Initial Coin Offering Market Analysis Trading

Hard Protocol Breakout Analysis – HARD Gains +21% in a Day on Binance Launchpad

After the launch of Hard Protocol on Binance Launchpad, HARD was trading sideways with strong buying volume and took a breakout today with +21% gains. Let’s take a quick look at HARD, price analysis, and possible reasons for the recent breakout.

What is Hard Protocol?

HARD Protocol is a decentralized money market built on Kava, enabling the lending and borrowing of cross-chain assets. HARD Protocol supports supply-side deposits for BTC, XRP, BNB, BUSD, and USDX. The platform will allow overcollateralized borrowing for supported assets.

HARD Quick Stats

SYMBOL:HARD
Global rank:289
Market cap:$43,643,209 AUD
Current price:$1.23 AUD
All-time high price:$1.59 AUD
1 day:+21.2%
7 day:+56.7%
1 year:+78.3%

HARD Price Analysis

At the time of writing, HARD is ranked 289th cryptocurrency globally and the current price is $1.23 AUD with an All-time +78.3% increase since the launch of its ICO at Binance Launchpad. Have a look at the chart below for price analysis.

Source: TradingView

After the launch of HARD on Binance Launchpad, It pumped up to $3.95 AUD having +296% gains in just a few hours and the initial opening price of HARD was $0.83 AUD at Binance Exchange with many different trading pairs like HARD/BTC, HARD/BUSD, and HARD/USDT.

Currently, HARD is trading at $1.23 AUD price levels after breaking out the falling wedge pattern in its sideways trend & now HARD is heading towards its all-time high price facing some previous weekly resistances.

What do the technical indicators say?

The HARD TradingView indicators (on the 1 day) mainly indicate HARD as a strong buy, except the Oscillators which indicate HARD as a buy.

So Why did HARD Breakout?

After the opening at Binance Launchpad, mostly ICO’s pumps after going live on exchange for trade and, the recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some recent news of Hard Margin Trading on Binance.

Recent HARD News & Events:

Where to Buy or Trade HARD?

Hard Protocol has the highest liquidity on Binance Exchange so that would help for trading HARD/USDT or HARD/BTC pairs. However, you can also buy from other different exchanges listed in Coinmarketcap.

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Crypto News Market Analysis Trading

Cover Protocol Breakout Analysis – Cover Pumps +42% in a Single Day

Breakout

Cover is trading in active uptrend here like many other altcoins. The Cryptocurrency Cover Protocol just went up +42% in a single day and surges over +126% in a week.

What is COVER?

COVER Protocol provides peer to peer coverage with fungible tokens. It lets the market set coverage prices as opposed to a bonding curve. COVER Protocol allows DeFi users to be protected against smart contract risk. It stabilizes the turbulent DeFi space by instilling confidence and trust between protocols and their users. By bridging the gap between decentralized finance and traditional finance, COVER Protocol will open the doors of DeFi to all investors.

COVER Quick Stats

SYMBOL:COVER
Global rank:264
Market cap:$67,431,440 AUD
Current price:$1,500 AUD
All time high price:$1,813 AUD
1 day:+42.5%
7 day:+126.4%
1 year:+152.7%

COVER Price Analysis

At the time of writing, Cover is ranked 264th cryptocurrency globally and the current price is $1,500 AUD. This is a +126.4% increase since 4th December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

After looking at the above 30-Minute candle chart, we can clearly see that Cover was trading inside the falling wedge pattern on the COVER/BUSD pair. The first resistance was on the $1250 AUD price levels which COVER broke with a strong bullish trend buying volume and is now heading towards the All-time high price. Seeing that many altcoins are bearish today but COVER is likely to continue to increase.

“The falling wedge pattern is a continuation pattern formed when price bounces between two downward slopings, converging trendlines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns – depending on where it appears in the trend”

What do the Technical indicators say?

The  Cover TradingView indicators (on the 1 day) mainly indicate COVER as a Neutral.

So Why did Civic Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up COVER to their portfolio for this Altcoins rally. It could also be contributed to some of the recent news having Initial Implementation of Creame V2 & Cover.

Recent COVER News & Events:

Where to Buy or Trade Cover?

Cover has the highest liquidity on Binance Exchange so that would help for trading COVER/BUSD or COVER/ETH pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.


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Market Analysis

TOP 10 best performing cryptos with premiere listing in 2020

TOP 10 best performing cryptos with premiere listing in 2020

ICO Analytics, a digital currency market analytics platform, recently reviewed the ten best cryptocurrencies with an exponential kind of growth in value despite they barely had their premiere listing this year. Most of these cryptocurrencies happened to be the native digital currency of decentralized finance (DeFi) protocols. The valuation of the DeFi market itself surged significantly since the beginning of the year.

From as low as US$675 million on January 1, the entire assets locked in the decentralized finance market grew to the present value of US$14.02 billion, according to the information provided by DeFi Pulse. The increase in DeFi market value represents almost 2000 percent growth. 

Best Performing 2020 Coins

The best performing cryptocurrency with a premiere listing this year is the SORA (XOR) cryptocurrency, according to the market infographics from ICO analytics. SORA presents itself as a new economic system that decentralizes the concept of a central bank. Its native cryptocurrency, XOR had its primary market on the leading decentralized exchange (DEX), Uniswap, with a market capitalization of $42 million.

Best coin returns for 2020

  1. XOR 133,700%
  2. YFI 3,300%
  3. ORN 3,200%
  4. VELO 2,200%
  5. STAKE 2,200%
  6. BZRX 1,400%
  7. JST 1,300%
  8. KAI 1,100%
  9. ALPHA 1,100%
  10. ALEPH 1,100%

The XOR crypto is the best 2020 crypto in terms of price growth, given that the value skyrocketed by 1,337 times since the listing on Uniswap. XOR currently trades at US$118 on CoinGecko at the time of writing. The token is followed by the yearn.finance (YFI), one of the leading protocols in the DeFi market. Binance is reportedly the primary market for the YFI token, which surged by 33 times since launch. The token’s market cap is around US$772 million.

The third-to-tenth best performing new cryptos in 2020 includes the Orion token (32x), Velo token (22x), Stake (22x), BZRX token (14x), Just token (13x), KardiaChain token (11x), ALPHA token (11x), and ALEPH token (11x). This set of cryptocurrencies have a market valuation above US$274 million combined.

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Crypto News Market Analysis Trading

WING Breakout Analysis – Parabolic Breakout on WING with +45% Gains in a Day

Breakout Analysis

WING is trading in uptrend here like many other altcoins. The Cryptocurrency WING just went up +45% in a single day by breaking a Descending triangle with strong buying volume and surges over +81% in a week.

What is WING?

Wing is described to be a credit-based, cross-chain DeFi lending platform dedicated to crypto-asset lending and cross-chain interactions between DeFi products. The project’s decentralized governance model and risk control mechanism are described to promote a mutually beneficial relationship between borrowers, creditors, and guarantors. Wing has also developed a credit evaluation module as a showcase example of credit-based decentralized lending.

WING Quick Stats

SYMBOL:WING
Global rank:486
Market cap:$16,560,710 AUD
Current price:$26.35 AUD 
All time high price:$188.29 AUD
1 day:+45.4%
7 day:+81.70%
1 year:+129.34%

WING Price Analysis

At the time of writing, WING is ranked 486th cryptocurrency globally and the current price is $26.35 AUD. This is a +81.70% increase since 3rd December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 12-hour candle chart, WING just bounced back from its support levels of $15.35 AUD and took a strong breakout from Descending Triangle within the next resistance which was at $18.61 AUD. The line is acting as a support level for this Descending triangle trend.

“A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows”

Source: TradingView

What do the technical indicators say?

The WING TradingView indicators (on the 1 day) mainly indicate WING as a buy, except the Oscillators which indicate WING as a neutral.

So Why did WING Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some of the recent events of WING Inclusive-Pool.

Recent WING News & Events:

Where to Buy or Trade WING?

WING has the highest liquidity on Binance Exchange so that would help for trading WING/USDT or WING/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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Crypto News Initial Coin Offering Market Analysis Trading

Venus XVS Breakout Analysis – XVS Performing Active Uptrend with +50% Gains in a Day

Venus is trading in active uptrend here like many other altcoins are. The Cryptocurrency Venus XVS just went up +50% in a single day and surges over +76% in a week.

What is Venus?

Venus is an algorithmic money market and synthetic stablecoin protocol launched exclusively on Binance Smart Chain BSC. The protocol introduces simple-to-use crypto-asset lending and borrowing solution to the decentralized finance DeFi ecosystem, enabling users to directly borrow against collateral at high speed while losing less to transaction fees. In addition, Venus allows users to mint VAI stablecoins on-demand within seconds by posting at least 200% collateral to the Venus smart contract.

Venus Quick Stats

SYMBOL:XVS
Global rank:195
Market cap:$42,887,723 AUD
Current price:$5.80 AUD
All time high price:$7.22 AUD
1 day:+50.5%
7 day:+76.6%
1 year:+83.74%

Venus Price Analysis

At the time of writing, Venus is ranked 195th cryptocurrency globally and the current price is $5.80 AUD. This is a +76.6% increase since 2nd December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

Price already increased a little bit after the Venus announcement yesterday, and then XVS did an awesome breakout from this bearish rectangle by breaking all previous resistances & is now currently trading at $5.80 AUD price levels.

“The bearish rectangle is a continuation pattern that occurs when a price pauses during a strong downtrend and temporarily bounces between two parallel levels before the trend continues.”

What do the technical indicators say?

The Venus TradingView indicators (on the 1 day) mainly indicate XVS as a buy, except the Moving Averages which indicate XVS as a strong buy.

So Why did XVS Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up XVS to their portfolio for the upcoming Altcoins rally. It could also be contributed to some of the recent news where they announced adding Top 3 Cryptos to VenusProtocol.

Recent Venus News & Events:

Where to Buy or Trade Venus?

Venus has the highest liquidity on Binance Exchange so that would help for trading XVS/USDT or XVS/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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Crypto News Market Analysis Trading

PNetwork Breakout Analysis – PNT Pumps +47% in a Week with Strong Bullish Trend

Breakout Analysis

PNT was squeezing inside the double top pattern on a 4-hour candle chart, it just went up over +47% in the last 7 days. Let’s take a quick look at PNT, price analysis, and possible reasons for the recent breakout.

What is PNetwork PNT?

The pNetwork is the governance layer of the pTokens system. pTokens are unchained assets, moving liquidity from one blockchain to another. A Provable, portable, and pegged solution for the DeFi ecosystem.

PNT Quick Stats

SYMBOL:PNT
Global rank:526
Market cap:$14,233,378 AUD
Current price:$0.7096 AUD
All time high price:$1.88 AUD
1 day:+16.78%
7 day:+47.21%
1 year:+129.76%

PNT Price Analysis

At the time of writing, PNT is ranked 526th cryptocurrency globally and the current price is $0.7096 AUD. This is a +47% increase since 1st December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

Price already increased a little bit after the pNetwork announcement last week and then PNT did an awesome breakout from the triangle of this bearish rectangle pattern by breaking all previous resistances & is now currently trading at $0.7096 AUD price levels.

“The bearish rectangle is a continuation pattern that occurs when a price pauses during a strong downtrend and temporarily bounces between two parallel levels before the trend continues.”

What do the technical indicators say?

The PNT TradingView indicators (on the 1 day) mainly indicate PNT as a buy, except the Moving Averages which indicate PNT as a strong buy.

So Why did PNT Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some of the recent news where they announced PNetwork Portals.

Recent PNT News & Events:

Where to Buy or Trade PNT?

PNetwork has the highest liquidity on Binance Exchange so that would help for trading PNT/USDT or PNT/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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Crypto News Initial Coin Offering Market Analysis Trading

UNIFI Protocol DAO Breakout Analysis – UNFI Pumps +85% in a Single Day

Breakout

After the launch of UNFI Protocol DAO on Binance Launchpool. UNFI was flipping on a 4-hour candle chart & took a strong Breakout again with +85% gains in a single day. Let’s take a quick look at UNFI, price analysis, and possible reasons for the recent breakout.

What is Unifi?

Unifi Protocol DAO is a group of non-custodial, interoperable, decentralized, multi-chain smart contracts providing the building blocks for DeFi development. The project provides a bridge to connect the economy of Ethereum-based DeFi products to the growing DeFi markets on other blockchains. uTrade, a decentralized Automated Market Maker (AMM) and token exchange, is the first product built on the Unifi Protocol DAO smart contracts.

Unifi Quick Stats

SYMBOL:UNFI
Global rank:303
Market cap:$36,421,511 AUD
Current price:$18.03 AUD
All-time high price:$19.10 AUD
1 day:+85.4%
7 day:+203.70%
1 year:+305.74%

Unifi Price Analysis

At the time of writing, UNFI is ranked 303rd cryptocurrency globally and the current price is $18.03 AUD. This is a +305.74% increase since the launch of its ICO at Binance Launchpool on 19 November 2020 as shown in the chart below.

Source: TradingView

After the launch of Unifi on Binance Launchpool, It pumped up to $8.12 AUD having +300% gains in few hours and the initial opening price of UNFI was $2.1 AUD at Binance Exchange with many different trading pairs like UNFI/BTC, UNFI/USDT, and UNFI/BUSD.

Currently, UNFI is trading at $18.03 AUD price levels after breaking out the squeeze resistance in its sideways trend & now heading towards its all-time high price with a strong bullish trend.

Source: TradingView

What do the technical indicators say?

The Unifi TradingView indicators (on the 1 day) mainly indicate UNFI as a buy, except the Oscillators which indicate UNFI as a strong sell.

So Why did UNFI Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some recent news where UNFI Protocol was Live on Ethereum

Recent UNFI News & Events:

Where to Buy or Trade UNFI?

UNFI has the highest liquidity on Binance Exchange so that would help for trading UNFI/USDT or UNFI/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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Crypto News Initial Coin Offering Market Analysis Trading

Injective Protocol Breakout Analysis–INJ Pumps +70% in a Week on Binance Launchpad

After the launch of Injective Protocol on Binance Launchpad, INJ took a strong Breakout with +70% gains in a week. Let’s take a quick look at INJ, price analysis, and possible reasons for the recent breakout.

What is Injective Protocol?

Injective is the first front-running resistant, layer-2 exchange protocol that unlocks the full potential of borderless finance by supporting margin trading, derivatives, and futures.

INJ Quick Stats

SYMBOL:INJ
Global rank:318
Market cap:$36,295,556 AUD
Current price:$2.41 AUD
All-time high price:$2.60 AUD
1 day:+18.2%
7 day:+70.7%
1 year:+161.3%

INJ Price Analysis

At the time of writing, INJ is ranked 318th cryptocurrency globally and the current price is $2.41 AUD. This is a +161.3% increase since the launch of its ICO at Binance Launchpad. Have a look at the chart below for price analysis.

Source: TradingView

After the launch of INJ on Binance Launchpad, It pumped up to $2.60 AUD having +385% gains in just a few hours and the initial opening price of INJ was $0.73 AUD at Binance Exchange with many different trading pairs like INJ/BTC, INJ/BNB, and INJ/ETH.

Currently, INJ is trading at $2.41 AUD price levels after breaking out the squeeze resistance in its sideways trend & now INJ is heading towards making a new all-time high price.

Source: TradingView

What do the technical indicators say?

The INJ TradingView indicators (on the 1 day) mainly indicate INJ as a strong buy, except the Oscillators which indicate INJ as a buy.

So Why did INJ Breakout?

After the opening at Binance Launchpad, mostly ICO’s pumps after going live on exchange for trade and, the recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some recent news of Solstice Testnet Launch.

Recent INJ News & Events:

Where to Buy or Trade INJ?

INJ has the highest liquidity on Binance Exchange so that would help for trading INJ/USDT or INJ/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.