Category: NEO

Top 3 Coins to Watch Today: ANKR, GRT, NEO – August 12 Trading Analysis

Post author By Malik Junaid
Post date August 12, 2022

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

1. Ankr (ANKR)

ANKR originated as a solution that utilises shared resources in order to provide easy and affordable blockchain node hosting solutions, and has since built a marketplace for container-based cloud services through the usage of shared resources. It is a platform that enables the sharing economy, where any customer can access resources at a more affordable rate while also providing enterprises with the ability to monetise their spare computing power. It is unique in the way that it is the first to use trusted hardware, and this ensures a high level of security.

ANKR Price Analysis

At the time of writing, ANKR is ranked the 90^th cryptocurrency globally and the current price is US$0.04992. Let’s take a look at the chart below for price analysis:

Source: TradingView

ANKR continues to set monthly lows in its downward trend. Support might be found in the daily gap above the monthly open near $0.04295, though a deeper retracement is likely to target the relatively equal lows into support near $0.03925.

The daily gap near $0.03766 could also provide support. However, another gap inside the down candles, around $0.03421, 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 $0.05932 and $0.06570 as reasonable take-profit zones.

2. The Graph (GRT)

The Graph GRT is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. GRT is a work token that is locked up by Indexers, Curators and Delegators in order to provide indexing and curating services to the network.

GRT Price Analysis

At the time of writing, GRT is ranked the 55^th cryptocurrency globally and the current price is US$0.1415. Let’s take a look at the chart below for price analysis:

Source: TradingView

GRT‘s 80% retracement during Q2 set a low near $0.09547 during its consolidation that began in early June.

Relatively equal highs near $0.1635 could be the current target if the price breaks through resistance beginning near $0.1858. Bullish continuation may reach through the next significant swing high near $0.2038 into the daily gap near $0.2473. If bullish strength continues, the zones just below the previous monthly highs near $0.2643 and $0.2712 could halt any retracement.

A bearish shift in the market may seek the relatively equal lows near $0.1236 into possible support near $0.1187. If this down move occurs, the swing low near $0.09742 and possible support near $0.09124 may be the primary objective.

3. Neo (NEO)

NEO bills itself as a “rapidly growing and developing” ecosystem with the goal of becoming the foundation for the next generation of the internet – a new economy where digitised payments, identities and assets come together. As well as drawing a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operates an EcoBoost initiative that’s designed to encourage people to build decentralised apps and smart contracts on its blockchain.

NEO Price Analysis

At the time of writing, NEO is ranked the 63^rd cryptocurrency globally and the current price is US$11.93. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during Q2, NEO has gained nearly 25% into resistance that starts near $14.24.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $15.33 might look for bids near $12.86. More significant resistance rests above, near $16.00. A group of significant swing highs at $16.76 and $17.49 give possible targets if this resistance breaks.

A stop run on the recent low at $10.09 into possible support beginning near $9.63 may see stronger bidding. This area also has a confluence with the previous monthly low.

A bearish market shift could reach the swing low at $8.30 into possible support beginning near $7.84.

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 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.

Crypto News Market Analysis NEO Shiba Inu Trading TRON

Top 3 Coins to Watch Today: TRX, NEO, SHIB – June 13 Trading Analysis

Post author By Malik Junaid
Post date June 13, 2022

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

1. Tron (TRX)

Tron TRX is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has a capacity for 2,000 TPS. This project is best described as a decentralised platform focused on content sharing and entertainment, and to this end, one of its biggest acquisitions was the file-sharing service BitTorrent in 2018. Overall, TRON has divided its goals into six phases. These include delivering simple distributed file sharing, and driving content creation through financial rewards.

TRX Price Analysis

At the time of writing, TRX is ranked the 13^th cryptocurrency globally and the current price is US$0.07827. Let’s take a look at the chart below for price analysis:

Source: TradingView

TRX accompanied the rest of the market during the Q2 drop, falling nearly 45% from early May until it found a low last week.

Price action formed a weekly support level near $0.06654, which has so far held up the price. The most recent swing low inside this range, near $0.06249, might be the target for any future stop runs. After this low, the swing low near $0.05789 and the gap beginning near $0.05126 mark possible higher-timeframe support.

The price is currently battling with significant higher-timeframe resistance levels, with the closest probable resistance resting near $0.08892, just over the previous monthly open. A sweep of the relatively equal highs above this resistance might find sellers near $0.09535, but could reach as high as $0.1173.

2. Neo (NEO)

NEO Price Analysis

At the time of writing, NEO is ranked the 54^th cryptocurrency globally and the current price is US$12.54. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during May, NEO has gained nearly 20% into resistance that starts near $13.24.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $14.33 might look for bids near $13.86. More significant resistance rests above, near $14.85. A group of significant swing highs at $15.36 and $17.29 give possible targets if this resistance breaks.

A stop run on the recent low at $12.09 into possible support beginning near $11.63 might see stronger bidding. This area also has a confluence with the previous monthly low.

A bearish market shift could reach the swing low at $10.30 into possible support beginning near $9.84.

3. Shiba Inu (SHIB)

Shiba Inu SHIB coin was created anonymously in August 2020 under the pseudonym “Ryoshi”. The meme coin quickly gained traction and value as a community of investors was drawn in by the cute charm of the coin, paired with headlines and tweets from personalities including Elon Musk and Vitalik Buterin.

SHIB Price Analysis

At the time of writing, SHIB is ranked the 17^th cryptocurrency globally and the current price is US$0.000009129. Let’s take a look at the chart below for price analysis:

Source: TradingView

SHIB performed well during Q1, reaching over 45% from the first week of February into the resistance near $0.00002542.

For the past several days, the price has been moving in a falling wedge and appears to be flipping old support near $0.000009042 to resistance. If this level breaks – perhaps due to the tempting daily equal lows below – the next support begins near $0.000008329.

Bulls entering at these levels could set their first target near the previous resistance near $0.00001280. Beyond this level, probable targets include the new monthly highs near $0.00001324 and the resistance above near $0.00001452.

A break of this resistance later this month could continue to the new highs near $0.00001682 and $0.00001824.

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 Altcoins?

Crypto News Market Analysis NEO Trading VeChain Zilliqa

Top 3 Coins to Watch Today: NEO, VET, ZIL – February 18 Trading Analysis

Post author By Malik Junaid
Post date February 18, 2022

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

1. Neo (NEO)

NEO bills itself as a “rapidly growing and developing” ecosystem with the goal of becoming the foundation for the next generation of the internet – a new economy where digitised payments, identities and assets come together. As well as creating a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operates an EcoBoost initiative that’s designed to encourage people to build decentralised apps and smart contracts on its blockchain.

NEO Price Analysis

At the time of writing, NEO is ranked the 59^th cryptocurrency globally and the current price is US$24.52. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during late January, NEO has gained nearly 15% into resistance that starts near $30.12.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $32.33 might look for bids near $21.86. More significant resistance rests above, near $26.15. A group of significant swing highs at $28.36 and $30.23 give possible targets if this resistance breaks.

A stop run on the recent low at $20.11 into possible support beginning near $19.23 might see stronger bidding. This area also has a confluence with the previous monthly low.

A bearish market shift could reach the swing low at $18.30 into possible support beginning near $16.84.

2. VeChain (VET)

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

VET Price Analysis

At the time of writing, VET is ranked the 39^th cryptocurrency globally and the current price is US$0.05724. Let’s take a look at the chart below for price analysis:

Source: TradingView

VET‘s 70% move during late October ran into resistance near $0.1730, at the 27% extension of the Q3 swing.

An old high and the 18 EMA have provided support near $0.05933 and might give support again on a retest. This area also has confluence with the 50% and 61.8% retracements of November’s swing.

Just below, near $0.05393, the 61.8% retracement of the current Q4 swing might also mark an area of support.

If the market remains bearish, $0.04962 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.07018, at the 50% extension of the summer’s swing, could see some profit-taking if bulls break the current resistance near $0.06278. Above, old consolidations near $0.06425 and $0.06682 might also provide some resistance before another round of price discovery.

3. Zilliqa (ZIL)

Zilliqa ZIL is a public, permissionless blockchain designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralised applications, and as of October 2020 it also allows for staking and yield farming. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

ZIL Price Analysis

At the time of writing, ZIL is ranked the 110^th cryptocurrency globally and the current price is US$0.0486. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s nearly 75% drop from its December highs found a low near $0.04538 in January before closing over a short-term high around $0.05372.

This daily close over the high could signal a shift in market structure that might reach probable resistance near $0.05233. A sustained bullish move may target the swing high at $0.05647. If this stop run occurs, a run beyond the high into probable resistance near $0.06188 and $0.06450 is possible.

Bulls could buy a retracement to possible support near $0.04589, just above the monthly open. A bearish turn in the marketplace may propel the price toward possible support near $0.04436.

However, relatively equal lows near $0.04294 and $0.04124 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.04015 and $0.03966.

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 Altcoins?

Crypto News Litecoin Market Analysis NEO Trading

Top 3 Coins to Watch Today: LTC, HOT, NEO – February 3 Trading Analysis

Post author By Malik Junaid
Post date February 3, 2022

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

1. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 20^th cryptocurrency globally and the current price is US$110.39. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, LTC kicked off a recovery trend that gained nearly 15% to break the weekly highs.

The following 60% plummet found support near $102.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $122.43.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $128.12, where aggressive bulls might begin bidding. The level near $138.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $150.13.

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $102.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $93.44 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Holo (HOT)

Holo HOT is a peer-to-peer distributed platform for hosting decentralised applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. The goal of Holo is to serve as a bridge between the broader internet and apps built using Holochain, offering an ecosystem and marketplace in which DApps are easily accessible, as they are hosted on the internet by Holo network participants.

HOT Price Analysis

At the time of writing, HOT is ranked the 94^th cryptocurrency globally and the current price is US$0.004386. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the beginning of January, HOT has been in a gentle downtrend. The future likely holds more stop runs and erratic volatility until the chart forms more substantial high-timeframe levels.

A retracement might uncover support near $0.004196, which is the daily high of the last swing low. The high of the wick beginning near $0.004051 may also provide support. However, bulls will likely remain wary of the current downtrend, making the low at $0.003829 likely to be the next bearish target.

Just above, the daily gap beginning near $0.004633 may provide resistance to bulls, possibly marking a future range high. A push through this level is likely to target the swing high near $0.005356 – perhaps running to probable resistance near $0.006045. Strength above this level might signal the start of a bullish trend, encouraging bulls to “buy the dip”.

3. Neo (NEO)

NEO bills itself as a “rapidly growing and developing” ecosystem that has the goal of becoming the foundation for the next generation of the internet – a new economy where digitised payments, identities and assets come together. As well as creating a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operates an EcoBoost initiative that’s designed to encourage people to build decentralised apps and smart contracts on its blockchain.

NEO Price Analysis

At the time of writing, NEO is ranked the 60^th cryptocurrency globally and the current price is US$20.71. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during late January, NEO has gained nearly 13% into resistance that starts near $36.12.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $34.33 might look for bids near $23.86. More significant resistance rests above, near $25.15. A group of significant swing highs at $27.36, $28.55 and $29.23 give possible targets if this resistance breaks.

A stop run on the recent low at $20.14 into possible support beginning near $19.43 might see stronger bidding. This area also has a confluence with the previous monthly low.

A bearish market shift could reach the swing low at $18.48 into possible support beginning near $16.54.

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 Altcoins?

Crypto News Market Analysis NEO Trading

Top 3 Coins to Watch Today: 1INCH, NEO, ALGO – January 14 Trading Analysis

Post author By Malik Junaid
Post date January 14, 2022

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

1. 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 88^th cryptocurrency globally and the current price is US$2.44. Let’s take a look at the chart below for price analysis:

Source: TradingView

After breaking its Q3 highs, 1INCH began a range that has been whiplashing both bulls and bears.

Resistance beginning near $2.80 has held the price down for the second half of December, although bulls have shown some strength near the 9 and 18 EMAs.

A quick push to $2.58, or into the zone beginning near $2.60, could give bulls the fuel to push through the nearby resistance. If this resistance breaks, the high near $2.77 provides a reasonable target.

A break of this level could move further into uncharted territory with the nearest probable resistances projected around $2.89 and $3.10.

More patient bulls might be waiting far below the 40 EMA with bids near the higher-timeframe range’s 45% retracement, near $2.13.

2. Neo (NEO)

NEO Price Analysis

At the time of writing, NEO is ranked the 70^th cryptocurrency globally and the current price is US$24.59. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during late December, NEO has gained nearly 30% into resistance that starts near $36.12.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $34.33 might look for bids near $39.86. More significant resistance rests above, near $42.15. A group of significant swing highs at $44.36, $46.55 and $47.23 give possible targets if this resistance breaks.

A stop run on the recent low at $22.00 into possible support beginning near $20.13 might see stronger bidding. This area also has a confluence with the August monthly open.

A bearish market shift could reach the swing low at $19.68 into possible support beginning near $17.84.

3. Algorand (ALGO)

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

ALGO Price Analysis

At the time of writing, ALGO is ranked the 23^rd cryptocurrency globally and the current price is US$1.47. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low in December, ALGO gained nearly 36% into resistance that starts near $1.75.

Swing traders looking for a continuation to the nearest cluster of relatively equal highs around $1.44 might look for bids near $1.36. More significant resistance rests above, near $1.58. A group of significant swing highs at $1.64 and $1.73 give possible targets if this resistance breaks.

A stop run on the recent low at $1.34 into possible support beginning near $1.30 might see stronger bidding. This area also has a confluence with the recent monthly lows.

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 Altcoins?

Crypto News EOS Market Analysis Monero NEO Trading

Top 3 Coins to Watch Today: EOS, NEO, XMR – January 5 Trading Analysis

Post author By Malik Junaid
Post date January 5, 2022

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

1. Eos (EOS)

EOS is a platform designed to allow developers to build decentralised apps. The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology and ensure the network is easier to use than rivals. As a result, tools and a range of educational resources are provided to support developers who want to build functional apps quickly. EOS also aims to improve the experience for users and businesses. While the project tries to deliver greater security and less friction for consumers, it also vies to unlock flexibility and compliance for enterprises.

EOS Price Analysis

At the time of writing, EOS is ranked the 50^th cryptocurrency globally and the current price is US$3.17. Let’s take a look at the chart below for price analysis:

Source: TradingView

After an 80% decline from early October, EOS has ranged between $3.10 and $3.55. The recent rally is approaching probable resistance near $3.25 – but could be aiming for stops above the relatively equal highs near $3.40. Continuation of the bullish move could target the daily gap near $3.52.

Aggressive bulls might add to positions near $3.22 and $3.10. Price action near $3.00 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $2.92 seem likely to be swept if the bearish trend resumes. If this move occurs, the price might find support at the significant higher-timeframe level near $2.81.

2. Neo (NEO)

NEO Price Analysis

At the time of writing, NEO is ranked the 70^th cryptocurrency globally and the current price is US$26.18. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during mid-December, NEO has rallied nearly 35% into resistance that starts near $35.12.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $37.33 might look for bids near $40.86. More significant resistance rests above, near $43.15. A group of significant swing highs at $45.36, $46.55 and $48.23 give possible targets if this resistance breaks.

A stop run on the recent low at $25.00 into possible support beginning near $23.13 might see stronger bidding. This area also has a confluence with the August monthly open.

A bearish market shift could reach the swing low at $21.68 into possible support beginning near $19.24.

3. Monero (XMR)

Monero XMR allows transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography. The team behind Monero says privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users irrespective of how technologically competent they are.

XMR Price Analysis

At the time of writing, XMR is ranked the 44^th cryptocurrency globally and the current price is US$226.63. Let’s take a look at the chart below for price analysis:

Source: TradingView

XMR‘s 65% rally during Q4 ran into resistance near $289. Since then, the price has been consolidating in a 120% range between $195 and $240.

Just below the monthly open, $219 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near $213 might cap a run on the lows near $206 and $200.

The higher-timeframe analysis points to the area near $235 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $248 and $253 may be the next 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.

Where to Buy or Trade Altcoins?

Crypto News Market Analysis NEO Trading

Top 3 Coins to Watch Today: MANA, NEO, CELO – November 11 Trading Analysis

Post author By Malik Junaid
Post date November 11, 2021

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. Decentraland (MANA)

Decentraland MANA defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetise content and applications. In this virtual world, users purchase plots of land that they can later navigate, build upon and monetise. Decentraland uses two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, names and more on the Decentraland marketplace.

MANA Price Analysis

At the time of writing, MANA is ranked the 44^th cryptocurrency globally and the current price is US$2.62. Let’s take a look at the chart below for price analysis:

Source: TradingView

Like many other altcoins, MANA set a new all-time high in late October before retracing 45% to the low at $2.50 last week.

Price broke through resistance near $2.46, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near $2.41. However, a drop this far increases the chances of a stop run to $2.37 and possibly into support near $2.32. For now, continuing bullish market conditions could help $2.20 become support.

The swing high around $2.70 gives bulls a reasonable first target, with $2.79 also likely to draw the price upward. Higher-timeframe resistance beginning near $2.86 or $2.95 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near $3.24.

2. Neo (NEO)

NEO Price Analysis

At the time of writing, NEO is ranked the 53^rd cryptocurrency globally and the current price is US$52.32. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low in late September, NEO has rallied nearly 55% into resistance that starts near $60.12.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $57.33 might look for bids near $50.86. More significant resistance rests above, near $62.15. A group of significant swing highs at $65.36, $68.55 and $70.23 give possible targets if this resistance breaks.

A stop run on the recent low at $48.00 into possible support beginning near $46.13 might see stronger bidding. This area also has a confluence with the August monthly open.

A bearish market shift could reach the swing low at $43.68 into possible support beginning near $40.24.

3. Celo (CELO)

Celo is a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users. The network also allows for the creation of smart contracts and decentralised applications (DApps) as part of decentralised finance (DeFi). The platform has two native tokens. CELO is a proof-of-stake (PoS) token used for transaction fees, governance participation and related activities. In the future, the platform aims to host various stablecoins, with one, the Celo Dollar (CUSD), already in use.

CELO Price Analysis

At the time of writing, CELO is ranked the 70^th cryptocurrency globally and the current price is US$6.53. Let’s take a look at the chart below for price analysis:

Source: TradingView

CELO continued its rally through the daily gap between $5.87 and $5.94, turning this region into an area of possible support.

However, a stop run under the relatively equal lows at $6.30 could form a wick below this level, potentially reaching an untapped daily gap beginning near $6.19.

Resistance starting at $6.73 has seen significant profit-taking, shown by the long upper wicks on the daily candles. A break of this resistance may reach the next significant swing high at $6.98, continue into probable resistance just above, and possibly set new monthly highs at $7.26.

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?

Crypto News Market Analysis NEO Trading

Top 3 Coins To Watch Today: NEO, FIL, AVAX – September 27 Trading Analysis

Post author By Malik Junaid
Post date September 27, 2021

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. Neo (NEO)

NEO Price Analysis

At the time of writing, NEO is ranked the 49^th cryptocurrency globally and the current price is A$53.40. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low in mid-July, NEO has rallied nearly 115% into resistance that starts near A$90.25.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around A$57.33 might look for bids near A$50.86. More significant resistance rests above near A$66.15. A group of significant swing highs at A$70.19, A$74.55 and A$79.46 give possible targets if this resistance breaks.

A stop run on the recent low at A$48.00 into possible support beginning near A$45.13 might see stronger bidding. This area also has a confluence with the August monthly open.

A bearish market shift could reach the swing low at A$40.68 into possible support beginning near A$37.24.

2. Filecoin (FIL)

Filecoin FIL is a decentralised storage system that aims to “store humanity’s most important information”. The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network. Filecoin is an open protocol and backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime.

FIL Price Analysis

At the time of writing, FIL is ranked the 27^th cryptocurrency globally and the current price is A$78.34. Let’s take a look at the chart below for price analysis:

Source: TradingView

After rallying over 150% from its July low, FIL is encountering resistance near A$152.88.

This resistance and the September monthly mid at A$118.35 currently have the price trapped. The swing high and resistance near A$107.22 provide a likely target before any major bearish market shift, with continuation through this resistance possibly reaching for short stops and resistance near A$134.67.

The daily gap at A$72.38 could provide support, while the area beginning near A$69.86 could see more substantial interest from the bulls. A longer-term bearish shift in the marketplace will likely reach the relatively equal lows near A$65.29, possibly finding a floor at support beginning near A$60.93.

3. Avalanche (AVAX)

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

AVAX Price Analysis

At the time of writing, AVAX is ranked the 11^th cryptocurrency globally and the current price is A$96.98. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX continued its rally through the daily gap between A$99.45 and A$97.25, turning this region into an area of possible support.

However, a stop run under the relatively equal lows at A$94.34 could form a wick below this level, potentially reaching an untapped daily gap beginning near A$87.14.

Resistance starting at $104.50 has seen significant profit-taking, shown by the long upper wicks on the daily candles. A break of this resistance may reach the next significant swing high at A$110.89, continue into probable resistance just above, and possibly set new all-time highs at A$122.56.

Where to Buy or Trade Altcoins?

Binance Crypto News Market Analysis NEO Swyftx Trading

Top 3 Coins To Watch Today: NEO, MATIC, ICP August 2 Trading Analysis

Post author By Malik Junaid
Post date August 2, 2021

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. Neo (NEO)

Neo bills itself as a “rapidly growing and developing” ecosystem that has the goal of becoming the foundation for the next generation of the internet – a new economy where digitised payments, identities and assets come together. The team behind this project operates an EcoBoost initiative that’s designed to encourage people to build decentralised apps and smart contracts on its blockchain. It’s often been likened to the Chinese version of the Ethereum network.

NEO Price Analysis

At the time of writing, NEO is ranked the 34^th cryptocurrency globally and the current price is A$59.86. Let’s take a look at the chart below for price analysis:

Source: TradingView

July brought an instant turn in NEO‘s retracement as the price pumped nearly 88% into the resistance near A$62.55.

A daily gap and down candle between A$53.85 and A$47.26 may support a push through the high at around A$66.31.

Bulls looking for longer-term plays could wait for a retracement to probable support near A$45.22 and potentially down to support at A$42.59.

Extensions based on June’s retracement suggest that A$81.43 and A$84.36 may be the following primary targets. The swing high’s resistance near A$87.55 provides a logical area to take first profits.

2. Polygon (MATIC)

Polygon MATIC is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. MATIC, the native token of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens.

MATIC Price Analysis

At the time of writing, MATIC is ranked the 17^th cryptocurrency globally and the current price is A$1.48. Let’s take a look at the chart below for price analysis:

Source: TradingView

MATIC shot up nearly 74% from mid-July as the price aggressively challenges the last high and resistance near A$1.54.

Bulls waiting to get on board could watch support near A$1.45, just above the series of swing highs near A$1.40.

A deeper retracement to end the month could reach as low as A$1.36, which would run the swing lows down to A$1.28 and provide a better entry.

Overlapping extensions hint at the areas around A$1.82 and A$1.94 as logical take-profit zones.

3. Internet Computer (ICP)

The Internet Computer ICP is the world’s first blockchain that runs at web speed with unbounded capacity. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum a blockchain computer that scales smart contract computation and data runs them at web speed, processes and stores data efficiently, and provides powerful software frameworks to developers.

ICP Price Analysis

At the time of writing, ICP is ranked the 21^st cryptocurrency globally and the current price is A$58.79. Let’s take a look at the chart below for price analysis:

Source: TradingView

ICP‘s bullish July month-end turned into consolidation, which is likely to break upward if market conditions remain bullish.

Support may be forming around the current area near A$47.26, giving bulls an aggressive entry with a wide stop.

A sweep of July 24’s low near A$45.71 into the support just below would give a much higher risk-reward entry. If the price drops this far, it could reach support near A$42.13.

Overhead, several layers of resistance rest near A$68.55, A$75.24 and A$81.66. Confident bulls could take profits at the swing highs accompanying this resistance.

More patient bulls waiting for higher risk-reward entries could watch for setups to form in potential retracements from these levels.

Where to Buy or Trade Altcoins?

Binance Crypto News Dogecoin Market Analysis NEO Swyftx Trading

Top 3 Coins To Watch Today: NEO, DOGE, SUSHI – July 21 Trading Analysis

Post author By Malik Junaid
Post date July 21, 2021

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. Neo (NEO)

NEO Price Analysis

At the time of writing, NEO is ranked the 44^th cryptocurrency globally and the current price is A$35.37. Let’s take a look at the chart below for price analysis:

Source: TradingView

July saw a nearly 35% retracement in NEO‘s price, but the bulls and bears might have more room to compete.

Last week, the price ran into resistance at A$37.59 before sweeping lows and dropping near the four-hour chart’s 18% retracement level near A$35.89. This move created potential support beginning near A$32.45, with a lower timeframe support possibly forming at A$30.24 to give aggressive bulls an entry.

The highs near A$40.89 and A$42.17 provide two first probable targets. If the support beginning near A$40.00 continues to hold, bulls could use this retracement’s extensions to anticipate take-profit zones near A$46.73 and A$50.71 The extensions near A$52.81, A$54.97 and A$56.58 are also likely to provide intermediate-term targets.

2. Dogecoin (DOGE)

Dogecoin DOGE is based on the popular “Doge” internet meme and features a Shiba Inu on its logo. The open-source digital currency – created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia – was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, lighthearted cryptocurrency that would have greater appeal beyond the core bitcoin audience since it was based on a dog meme. Tesla CEO Elon Musk has posted several tweets on social media that Dogecoin is his favourite coin.

DOGE Price Analysis

At the time of writing, DOGE is ranked the 8^th cryptocurrency globally and the current price is A$0.2348. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOGE has been in a strong bear trend since mid-May, giving bottom-buyers a good entry this month again.

On Monday, the price broke out from the falling wedge A$0.2644 after sweeping lows near A$0.2521, potentially signalling the start of the next significant move upward after having a little correction once again.

Bulls could wait for a retracement near probable support beginning at A$0.2215, with the daily gap’s midpoint near A$0.2179 providing a higher risk-reward entry. The relatively equal daily lows near A$0.2058 could also attract a stop run, providing an attractive entry area in the broad support region between A$0.1988 and A$0.1915.

The extensions near A$0.2956 and A$0.3087 provide probable targets, with the minor extensions near A$0.3347 and A$0.3500 providing intermediate take-profit zones.

3. SushiSwap (SUSHI)

SushiSwap SUSHI is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralised exchanges that use smart contracts to create markets for any given pair of tokens. SushiSwap aims to diversify the AMM market and also add features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI.

SUSHI Price Analysis

At the time of writing, SUSHI is ranked the 74^th cryptocurrency globally and the current price is A$8.70. Let’s take a look at the chart below for price analysis:

Source: TradingView

SUSHI‘s 122% May rally has retraced to the move’s 80% retracement before spending the second half of the month, plus June and July, accumulating above support beginning near A$7.55.

Last week’s dip to retest the 26.5% retracement created potential support near A$6.89, with the early part of this week testing the weekly level at A$6.64 as support. A quick dip in this region could give bulls an excellent entry targeting the first probable resistance at A$6.32.

A break of this level might run to the resistance and last swing high at A$9.85. If the swing high breaks, monthly highs at A$10.59, A$11.53 and A$12.62 provide the next likely targets. Beyond A$12.90, the price could see a parabolic move to the next monthly high near A$13.41.

Traders taking regular profits could use the extensions at A$13.95, A$14.38 and A$15.22 for probable intermediate resistance zones.

Where to Buy or Trade Altcoins?

These three 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.