Category: Oasis Network

Top 3 Coins to Watch Today: EGLD, DFI, ROSE – August 26 Trading Analysis

Post author By Malik Junaid
Post date August 26, 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. Elrond (EGLD)

Elrond EGLD is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralised finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. The blockchain has a native token known as eGold, or EGLD, used for paying network fees, staking, and rewarding validators.

EGLD Price Analysis

At the time of writing, EGLD is ranked the 42^nd cryptocurrency globally and the current price is US$57.54. Let’s take a look at the chart below for price analysis:

Source: TradingView

EGLD‘s 65% rally during Q1 reversed with many other coins in Q2, retracing nearly 50%. Just above the current price and near the June monthly open, $69.20 could provide resistance before a downward move. This level has confluence with the 18 EMA.

Bears may consider $74.94 as a higher probability resistance to hunt shorts for a longer swing downward. However, higher-timeframe charts suggest that the price could reach $82.45 at the top of an inefficiently traded area before any future bearish breakdowns.

Resistance might also rest near $86.45, above the recent monthly open. However, the price is less likely to reach this level unless the overall market starts a bullish swing.

The price is finding support between $45.30 and $40.86. This zone may continue to hold, while overlapping higher-timeframe levels from $37.44 to $34.81 could provide the most substantial support inside this area.

2. DeFiChain (DFI)

DeFiChain DFI is a blockchain platform built with the mission of maximising the full potential of DeFi within the Bitcoin (BTC) ecosystem. The software platform is supported by a distributed network of computers and is designed to facilitate fast and transparent transactions. The development team positions DeFiChain as an innovative blockchain project and offers solutions to problems like scalability, security, and decentralisation.

DFI Price Analysis

At the time of writing, DFI is ranked the 215^th cryptocurrency globally and the current price is US$0.9492. Let’s take a look at the chart below for price analysis:

Source: TradingView

DFI collapsed 80% from its April high before beginning an uptrend in early July.

Bulls broke the market structure to the upside across Q2. This break resulted in a 64% climb ending with a large spike during June. Inside this spike, $1.22 could provide the first resistance. It overlaps with a small area of inefficient trading in mid-June and is near the 40 EMA.

A move higher may retest July’s high, near $1.30. This area shows inefficient trading on the daily and weekly charts. It’s also near the top of inefficient trading on the monthly chart.

If the rally continues, bulls should find support near $1.08. A narrow pocket under this level, from $1.06 to $1.02, could provide more sensitivity. This pocket shows inefficient trading on the daily and overlaps with old highs. It’s also near the 9 and 18 EMAs.

If the downtrend resumes, a wide area from $0.9133 to $0.07532 may spawn the following bullish setup. This zone shows inefficient trading on the monthly chart.

3. Oasis Network (ROSE)

The Oasis Network ROSE is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionising Open Finance and expanding it beyond traders and early adopters to a mass market. Its unique privacy features can not only redefine DeFi but also create a new type of digital asset called Tokenised Data that can enable users to take control of the data they generate and earn rewards for staking it with applications – creating the first-ever responsible data economy.

ROSE Price Analysis

At the time of writing, ROSE is ranked the 100^th cryptocurrency globally and the current price is US$0.06918. Let’s take a look at the chart below for price analysis:

Source: TradingView

ROSE climbed 40% from its Q1 low, then dropped nearly 63% into support last month. The price is currently testing this resistance, near $0.1043. It may also provide support again and has confluence with the 61.8% and 78.6% retracements.

Resistance begins just above, at $0.09537. This inefficiently traded area, which reaches slightly beyond $0.1186, contains the previous monthly highs, a bearish market structure break on the daily chart, and the 9, 18 and 40 EMAs.

These confluences often provide strong resistance. Since this resistance is close to the $0.1215 support, the price may enter consolidation before breaking out to the next move.

If the price breaks this resistance, bulls could eye an area of old rejection, near $0.1320, as their next target. Continuation through this level may target another area of bearish rejection on the weekly chart, near the 27% extension from $0.1359 to $0.1387.

A more significant bearish turn in the market may reach for bulls’ stops under the Q2 lows, down to an area of old support in an inefficiently traded area between $0.06341 and $0.05217.

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 Gala Market Analysis MyNeighborAlice Oasis Network Trading

Top 3 Coins to Watch Today: ALICE, ROSE, GALA – August 1 Trading Analysis

Post author By Malik Junaid
Post date August 1, 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. MyNeighborAlice (ALICE)

ALICE is a multiplayer builder game where anyone can buy and own virtual islands, collect and build exciting items, and meet new friends. Inspired by successful games such as Animal Crossing, the game combines the best of the two worlds – a fun narrative for regular players who want to enjoy the gameplay experience, as well as an ecosystem for players who want to collect and trade non-fungible tokens (NFTs).

ALICE Price Analysis

At the time of writing, ALICE is ranked the 279^th cryptocurrency globally and the current price is US$3.00. Let’s take a look at the chart below for price analysis:

Source: TradingView

ALICE dropped almost 80% from its Q2 highs. Since this drop, the price has consolidated in a tight range between approximately $3.40 and $2.38.

Support might have formed near $2.87. This area shows inefficient trading on the daily chart. It also overlaps June 15’s swing high and contains the 9 and 18 EMAs.

If this level breaks, the price might also find support at a small distance below, near $2.69. Here, the weekly chart shows that bulls rejected bears.

The 40 EMA is currently providing some resistance. Yet the price may be seeking the next resistance near $3.20. This level is near the top of the range, contains relative equal highs, and is just below the June monthly open.

A break through this level might reach the next resistance near $3.36. This level is just above relative equal highs and the June monthly open. It also shows inefficient trading on the weekly chart and overlaps with the June 2021 swing low’s wick.

If the rally continues, $3.70 could provide the next resistance. This level shows inefficient trading on the weekly and monthly charts. It also overlaps with June 2021’s weekly and monthly swing low candle body boundaries.

The overall market is still bearish, so bulls should be cautious. There is no historical price action to suggest support below the current price. The local range’s 50% extension suggests that $2.25 to $2.00 could be the next longer-term downside target.

2. Oasis Network (ROSE)

ROSE Price Analysis

At the time of writing, ROSE is ranked the 89^th cryptocurrency globally and the current price is US$0.08846. Let’s take a look at the chart below for price analysis:

Source: TradingView

ROSE climbed 42% from its Q1 low, then dropped nearly 73% into support last month.

The price is currently testing this resistance, near $0.09230. It may also provide support again and has confluence with the 61.8% and 78.6% retracements.

Resistance begins just above, at $0.09837. This inefficiently traded area, which reaches slightly beyond $0.1146, contains the previous monthly highs, a bearish market structure break on the daily chart, and the 9, 18 and 40 EMAs.

These confluences often provide strong resistance. Since this resistance is close to the $0.1230 support, the price may enter consolidation before breaking out to the next move.

If the price breaks this resistance, bulls could eye an area of old rejection, near $0.1310, as their next target. Continuation through this level may target another area of bearish rejection on the weekly chart, near the 27% extension from $0.1329 to $0.1357.

A more significant bearish turn in the market may reach for bulls’ stops under the Q2 lows, down to an area of old support in an inefficiently traded area between $0.08341 and $0.07217.

3. Gala (GALA)

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

GALA Price Analysis

At the time of writing, GALA is ranked the 94^th cryptocurrency globally and the current price is US$0.05995. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, GALA turned into a recovery trend to make the new monthly highs.

The following 75% plummet found support near $0.05029, sweeping under the 40 EMA into the 60.8% retracement level before bouncing to resistance beginning at $0.06420.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $0.06812, where aggressive bulls might begin bidding. The level near $0.07325, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $0.08475.

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $0.04720 could provide at least a short-term bounce. If this level fails, the old highs near $0.03835 might also give support and see the start of a new bullish cycle after retesting these support levels.

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 Filecoin HedgeTrade Market Analysis Oasis Network Siacoin

Top 3 Coins to Watch Today: ROSE, FIL, SC – June 24 Trading Analysis

Post author By Malik Junaid
Post date June 24, 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. Oasis Network (ROSE)

ROSE Price Analysis

At the time of writing, ROSE is ranked the 107^th cryptocurrency globally and the current price is US$0.05164. Let’s take a look at the chart below for price analysis:

Source: TradingView

ROSE climbed 42% from its Q1 low, then dropped nearly 75% into support last week.

The price is currently testing this support again, near $0.04690. It may provide support again and has confluence with the 61.8% and 78.6% retracements.

Resistance begins just above, at $0.05837. This inefficiently traded area, which reaches slightly beyond $0.06462, contains the monthly open, a bearish market structure break on the daily chart, and the 9, 18 and 40 EMAs.

These confluences often provide strong resistance. Since this resistance is close to the $0.07190 support, the price may enter consolidation before breaking out to the next move.

If the price breaks this resistance, bulls could eye an area of old rejection, near $0.07562, as their next target. Continuation through this level may target another area of bearish rejection on the weekly chart, near the 27% extension from $0.07895 to $0.08065.

A more significant bearish turn in the market may reach for bulls’ stops under the Q2 lows, down to an area of old support in an inefficiently traded area between $0.04341 and $0.03917.

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 backed by a blockchain that records commitments made by the network’s participants, with transactions 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 38^th cryptocurrency globally and the current price is US$5.68. Let’s take a look at the chart below for price analysis:

Source: TradingView

FIL has dropped 77% from its early Q2 highs. It’s now 95% down from its March 2021 all-time high.

The price is currently in a small consolidation range. This range’s lower lows suggest bearishness.

A rally near $6.50 could set the stage for another move lower. This level would provide a run on bears’ stops above the last daily swing high and is above the June monthly open.

A break through this level could reach between $7.60 and $8.35. This zone shows inefficient trading on the weekly and daily charts. It also contains the 40 EMA. Relatively equal highs at the bottom of this zone mark bears’ stops. These stops provide bulls with an attractive target.

Bulls should be careful, however. The price is trending lower, and the current market conditions are bearish. Yet a consolidation near $5.63 could provide at least short-term support. This consolidation followed the last drop lower.

Chaotic price action below this level makes precise levels impossible to determine. Still, bulls could look for support near old swing highs formed in late 2019 near $5.14.

Slightly lower, an area near $4.63 could also cause the formation of a bullish setup. This area is around the midpoint of significant consolidation. It’s also near the origin of 2020’s rally.

3. Siacoin (SC)

Siacoin SC is the native utility token of Sia, a blockchain-based distributed, decentralised cloud storage platform. Sia acts as a secure, trustless marketplace for cloud storage in which users can lease access to their unused storage space. Agreements and transactions are enforced with smart contracts, and Siacoin is the medium of exchange for paying for storage on the network. The main goal of the project is to become the “backbone storage layer of the internet”.

SC Price Analysis

At the time of writing, SC is ranked the 122^nd cryptocurrency globally and the current price is US$0.003962. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 72% decline from April, SC has ranged between $0.003723 and $0.005165.

The recent rally is approaching probable resistance near $0.004930 but could be aiming for stops above the relatively equal highs near $0.005430. Continuation of the bullish move could target the daily gap near $0.006124.

Aggressive bulls might add to positions near $0.003640 and $0.003492. Price action near $0.003272 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $0.003043 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 $0.002675.

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 Fetch.ai Market Analysis Oasis Network QuarkChain Trading

Top 3 Coins to Watch Today: FET, QKC, ROSE – April 12 Trading Analysis

Post author By Malik Junaid
Post date April 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. Fetch.ai (FET)

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

FET Price Analysis

At the time of writing, FET is ranked the 184^th cryptocurrency globally and the current price is US$0.3437. Let’s take a look at the chart below for price analysis:

Source: TradingView

FET rallied 139% from its February low before running to resistance near equal highs at $0.5440. These highs may be a target in the future.

The price could find support near $0.3583 as holders buy and stake FET for the stakedrop. This level is close to the 61.8% retracement, the upper half of a consolidation, and 9, 18 and 40 EMAs bullish flip.

Just below, near $0.3153, the 78.6% retracement and inefficiently traded area at the origin of March’s move could also provide support.

Until the price tests these levels, $0.4190 could provide the closest resistance. This area is inefficiently traded and contains the 9 and 18 EMAs.

Slightly higher, near $0.4596, the April monthly open and origin of the current bearish retracement could also give resistance.

If the price does find support, this could be the start of a more significant swing that may reach probable resistance between $0.6318 and $0.6943. This inefficiently traded area fills the 27% and 50% extensions and would target bears’ stops above multiple swings.

2. QuarkChain (QKC)

The QuarkChain Network QKC is a permissionless blockchain architecture that aims to meet global commercial standards. It aims to provide a secure, decentralised and scalable blockchain solution to deliver 100,000+ on-chain TPS. QuarkChain is a public chain that can support multiple consensuses, and multiple transaction models including virtual machines VMs, ledger, and token economics in one network. It can reportedly adapt to blockchain innovations by customising consensus, transaction model (including VM), ledger, and token economics in each shard to satisfy different requirements of different industries/enterprises/DApps.

QKC Price Analysis

At the time of writing, QKC is ranked the 316^th cryptocurrency globally and the current price is US$0.02138. Let’s take a look at the chart below for price analysis:

Source: TradingView

QKC surged near the end of March, setting a high 157% above its January low.

Consolidation lows near $0.02757 might provide the next significant resistance. However, the April monthly open could also offer some short-term resistance.

Near the 2022 yearly open, 40 EMA and 61.8% retracement, $0.02131 is being tested as support. The price bounced from this level and is compressing between the 9 and 18 EMAs.

Slightly lower, $0.01897 to $0.01710 may offer more robust support. The price may want to re-trade down through the inefficient area to this level, which has confluence with the 78.6% retracement and old swing highs.

If either of these supports does begin a new significant bullish rally, bulls might next target an area near $0.03599. Reaching this level would run bears’ stops above multiple relatively equal highs near the 27% extensions.

3. Oasis Network (ROSE)

ROSE Price Analysis

At the time of writing, ROSE is ranked the 90^th cryptocurrency globally and the current price is US$0.2367. Let’s take a look at the chart below for price analysis:

Source: TradingView

ROSE climbed 82% from its February low, then dropped nearly 29% into support last Tuesday and Wednesday.

The price is currently testing this support again, near $0.2490. It may provide support again and has confluence with the 61.8% and 78.6% retracements.

Resistance begins just above, at $0.2637. This inefficiently traded area, which reaches slightly beyond $0.2862, contains the April monthly open, a bearish market structure break on the daily chart, and the 9, 18 and 40 EMAs.

These confluences often provide strong resistance. Since this resistance is close to the $0.2490 support, the price might enter consolidation before breaking out to the next move.

If the price breaks this resistance, bulls might eye an area of old rejection, near $0.3062, as their next target. Continuation through this level may target another area of bearish rejection on the weekly chart, near the 27% extension from $0.3495 to $0.3660.

A more significant bearish turn in the market may reach for bulls’ stops under the February lows, down to an area of old support in an inefficiently traded area between $0.1641 and $0.1174.

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?

Cardano Crypto News Market Analysis Oasis Network Theta Trading

Top 3 Coins to Watch Today: ADA, THETA, ROSE – March 9 Trading Analysis

Post author By Malik Junaid
Post date March 9, 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. Cardano (ADA)

Cardano ADA is a proof-of-stake blockchain platform whose stated goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals”, helping to create a society that is more secure, transparent, and fair. 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.

ADA Price Analysis

At the time of writing, ADA is ranked the 8^th cryptocurrency globally and the current price is US$0.8021. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s nearly 40% drop from its mid-February highs found a low near $0.7935 last week before closing over a short-term high.

This daily close over the high could signal a shift in market structure that may reach probable resistance near $0.8725. A sustained bullish move may target the swing high at $0.9135. If this stop run occurs, a run beyond the high into probable resistance near $1.05 and $1.14 is possible.

Bulls could buy a retracement to possible support near $0.7840, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.7525.

However, relatively equal lows near $0.7357 and $0.7122 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.6047 and $0.6952.

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 44^th cryptocurrency globally and the current price is US$2.88. Let’s take a look at the chart below for price analysis:

Source: TradingView

THETA has been gradually moving downwards from December into March 2022.

The 9 and 18 EMAs, near $2.67 and an old consolidation area, might provide resistance to propel the price down to possible support.

Multiple swing lows under an area of old consolidation, near $2.53, could be the next downside target. If this level breaks, higher-timeframe consolidation near $2.47 might provide the following support.

However, if the current resistance breaks, an area near $2.97 and the 40 EMA might be the next level to watch. This level supported multiple past retests, which means it may flip to resistance.

A more substantial rally could push through the monthly open, revisiting the lows of an old consolidation from $3.18 to $3.53. If this move occurs, it could set the stage for a more extensive consolidation or the start of a new bullish trend.

3. Oasis Network (ROSE)

ROSE Price Analysis

At the time of writing, ROSE is ranked the 87^th cryptocurrency globally and the current price is US$0.2225. Let’s take a look at the chart below for price analysis:

Source: TradingView

ROSE has dropped nearly 60% since mid-January and found a low in early March, with price action now trending upward through a higher-timeframe range.

The area beginning near $0.3246 has provided strong resistance and may do so again. However, relatively equal highs near $0.3812 offer a tempting target for bulls. A run of these highs may reach up into the daily gap near $0.4314.

Aggressive bulls might add to their positions near $0.2278. If the price breaks through this level, it may be reaching for the cluster of swing lows near $0.2054 and $0.1915. A more substantial move down may run stops below the relatively equal monthly lows, around $0.1766, into the daily gap at this level.

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.