Category: Syscoin

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Crypto News Market Analysis Rari Governance Token Syscoin Trading

Top 3 Coins to Watch Today: SYS, RGT, GST – May 3 Trading Analysis

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

1. Syscoin (SYS)

Syscoin SYS is a full Layer-1 and Layer-2 blockchain solution built to combine industry-proven technology to support cutting-edge applications, all in one network. The project’s goal is to build a protocol that transforms the blockchain experience and combines the best of Bitcoin and Ethereum. Through Bitcoin merge-mining, Syscoin transforms Bitcoin’s Proof-of-Work security and decentralisation into a functional and scalable solution. Syscoin’s token platform currently features a custom notary API, fungible tokens, NFTs, and fractionalised NFTs.

SYS Price Analysis

At the time of writing, SYS is ranked the 159th cryptocurrency globally and the current price is US$0.4138. Let’s take a look at the chart below for price analysis:

Source: TradingView

SYS has ranged between approximately $0.6865 and $0.3965 since late February. It is currently near the bottom of this range.

An inefficiently traded area near $0.4376 could provide resistance. However, eager bears should be wary since the price is very oversold relative to its local range.

Above, the 18 EMA and April’s consolidation low overlap with an inefficiently traded area at $0.4884. This area might also provide resistance during a retest. 

A more substantial rally may seek to return to the local range highs. This move would clear bear’s stops and may target an inefficiently traded area near the April monthly open at $0.6170.

Over the weekend, the price tested possible support at $0.4098, near the midpoint of October 2021’s accumulation range and relatively equal swing lows. It seems likely that the price will dip deeper into this support to run bulls’ stops.

If this support breaks, $0.3627 could provide bulls with their next level of interest. This level saw significant buying on a retracement before November’s rally and could provide support again.

Just below, $0.3090 may also provide support. This region had a significant five-week accumulation before early October 2021’s bullish rally and April 2021’s sudden upward spike.

2. Rari Governance Token (RGT)

The Rari Governance Token RGT is the native token behind Rari Capital. Rari Capital is a non-custodial DeFi Robo-advisor that autonomously earns users yield. It is a decentralised protocol for lending and borrowing. The Rari Governance Token is used for fee discounts and protocol governance.

RGT Price Analysis

At the time of writing, RGT is ranked the 294th cryptocurrency globally and the current price is US$10.65. Let’s take a look at the chart below for price analysis:

Source: TradingView

RGT has been in a downtrend since early 2022. Last week saw an acceleration to the downside as hackers drained $80 million from its liquidity pools.

The sharp move to the downside created an inefficiently traded area between $11.59 and $12.55, which may provide resistance on a retest. This zone has confluence with the 9 EMA.

If this resistance breaks, the price may retest the bottom of March’s consolidation near $13.35. This area has confluence with the 18 EMA and soon the 40 EMA. 

A more significant rally could target the bottom of January’s consolidation, near $20.14. This climb may not happen until the overall market’s conditions turn more bullish.

Below, there is no price action to suggest higher-probability support levels. Extensions from March’s consolidation range hint at downside targets near $10.50, $8.00, and $5.50. The price is currently testing the closest of these levels.

3. Green Satoshi Token (GST)

Green Satoshi Token GST is the game token of STEPN — a Web 3.0 lifestyle app with inbuilt fun social elements and gamification design. STEPN is the first move-to-earn NFT game where players earn GST tokens by walking, jogging, and running outdoors while wearing NFT sneakers. GST tokens can also be used to level up and mint new sneakers, and players can sell/rent their NFT sneakers on the App Marketplace.

GST Price Analysis

At the time of writing, GST is ranked the 714th cryptocurrency globally and the current price is US$5.84. Let’s take a look at the chart below for price analysis:

Source: TradingView

GST has seen massive volatility recently as STEPN’s other coin, GMT, went on its parabolic run. GST’s price climbed 147% during April, dropped 60%, and is now retesting possible resistance.

Above the April monthly open, $5.73 to $6.06 could provide resistance. Breaking through this resistance could reach near $7.35, which is approximately the midpoint of last week’s long upper wick. If the price breaks this level, last week’s high near $9.45 provides another reasonable target.

Bulls stepped in on each recent drop below $5.14. This level could provide support again and has confluence with the 18 EMA. A move below this level might see support near the 40 EMA and accumulation on the weekly, near $4.61.

A more significant move down could target an old inefficiently traded area on the weekly between $4.05 and $3.67. The lower portion of this range, under $3.81, may provide higher-probability support.

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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.

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Crypto News EOS Market Analysis Solana Syscoin Trading

Top 3 Coins to Watch Today: EOS, SOL, SYS – March 1 Trading Analysis

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

1. 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 47th cryptocurrency globally and the current price is US$2.19. Let’s take a look at the chart below for price analysis:

Source: TradingView

EOS has been in an overall decline for the last 10 months and has reached 87% below its mid-May 2021 high.

Just above the current price, near $2.1364, might be the bears’ first line of resistance in the upcoming weeks. This level is near the 9 EMA and consolidation highs that formed after the low sweep at $1.9940.

A slightly larger rally toward the February open is possible. Resistance could be found between $2.2760 and $2.4306, with the lower half of this range possibly proving stronger. This range has confluence with the 40 EMA and accumulation area for the early February run on bears’ stops.

While less likely, a more extended rally might reach probable resistance near $3.2716. This area is in the upper half of a significant consolidation area on higher-timeframe charts.

Bulls might find support beginning near $1.7000 – perhaps if traders “sell the news” of the Mandel 3.0 release. However, $1.4200 to $1.2142 could offer a higher probability of a short-term bottom before a more substantial bounce. Higher timeframes show inefficient trading in this zone, as well as in another possible support beginning near $0.9000.

2. Solana (SOL)

Solana SOL is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralised app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

SOL Price Analysis

At the time of writing, SOL is ranked the 9th cryptocurrency globally and the current price is US$95.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

SOL has retraced 71% from its November all-time high and reached possible support last week near $75.3450. Resistance might begin near $89.2450, which has confluence with the 9 and 18 EMAs.

A more substantial rally might reach near the swing high at $105.9075 and the 40 EMA. This high is less likely to break if bears plan to continue the downtrend without a lengthier consolidation.

While not highly probable in the current market conditions, a more animated move upward could reach a wide resistance area between $122.0000 and $147.9425. This zone is where the last movement down accumulated positions before breaking down. 

Possible support rests near $75.3450, which showed sensitivity on the last test. While it could provide support again, the higher-timeframe bearish trend is more likely to propel the price into an inefficient area between $66.1000 and $54.7225. If the price reaches this zone, the May 2021 swing high near $58.4425 might mark a more sensitive level.

An eventual break of this support might target $42.8725, where the price consolidated during the summer before beginning its last bull run.

3. Syscoin (SYS)

Syscoin SYS is a full Layer-1 and Layer-2 blockchain solution built to combine industry-proven technology to support cutting-edge applications all in one network. The project’s goal is to build a protocol that transforms the blockchain experience and combines the best of Bitcoin and Ethereum. Through Bitcoin merge-mining, Syscoin transforms Bitcoin’s Proof-of-Work security and decentralisation into a functional and scalable solution. Syscoin’s token platform currently features custom notary API, Fungible Tokens, NFTs, and Fractionalised NFTs.

SYS Price Analysis

At the time of writing, SYS is ranked the 138th cryptocurrency globally and the current price is US$0.6116. Let’s take a look at the chart below for price analysis:

Source: TradingView

Early January 2022 created the all-time high in SYS before its retracement, which reached 70% by last week.

A sharp weekly rally might have formed possible resistance near $0.688700, where higher timeframes show a small inefficient area. 

Slightly lower, an area from $0.596187 to $0.629302 might also provide resistance. This area shows significant rejection of bulls by bears and has confluence with the 18 EMA.

While less probable in the current market conditions, a more significant rally could reach the February monthly open near $0.596187. This area saw consolidation before the recent drop and shows signs of inefficient trading.

From $0.528137 to $0.471303, price structures near the recent swing low could offer some support and perhaps form the lower end of an upcoming consolidation range. 

A break through this support might be targeting the midpoint of Q2 2022’s accumulation near $0.309023, where higher timeframes suggest bulls’ stops might provide an attractive target for bears.

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.

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Crypto News Market Analysis Syscoin Trading

Top 3 Coins to Watch Today: ALPHA, BDX, SYS – December 7 Trading Analysis

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

1. Alpha Finance (ALPHA)

Alpha Finance Lab ALPHA is a cross-chain DeFi platform that looks to bring Alpha to users across a variety of different blockchains, including Binance Smart Chain (BSC) and Ethereum. The platform aims to produce an ecosystem of DeFi products that address unmet needs in the industry while remaining simple to use and access. ALPHA is the native utility token of the platform. Token holders can earn a share of network fees by staking ALPHA tokens to cover any default loans. Other use cases for the token include liquidity mining and governance voting.

ALPHA Price Analysis

At the time of writing, ALPHA is ranked the 168th cryptocurrency globally and the current price is US$0.7279. Let’s take a look at the chart below for price analysis:

Source: TradingView

ALPHA‘s 395% rally from its June lows met resistance near the low of H1 2021’s consolidation, near $1.5295, before creating a new range for Q3.

After a bearish flip of the 9, 18 and 40 EMAs, the price broke below $0.8503. This area, which has confluence with multiple swing lows and the December monthly open, may provide resistance on any future retest.

The price might find support near $0.4845 to $0.6749 if the overall market’s conditions turn more bullish. This zone has confluence with the 61.8% to 78.6% retracements and accumulation zone for Q3’s rally.

Failure to find support in this area could drop the price to higher timeframe support near late 2020’s swing high, near $0.3051. However, a drop this low could continue lower as traders sell the news of Wednesday’s mainnet launch on AVAX.

Suppose the price does rally through the probable resistance near December’s open. In that case, the September swing highs and above, near $1.3861, could provide resistance again. A shift back to more bullish market conditions could push the price to the 50% extension of the summer’s swing, near $1.9334.

2. Beldex (BDX)

Beldex BDX is a leading privacy-based ecosystem consisting of privacy-first decentralised applications that include BChat, BelNet, Beldex browser, the Beldex privacy protocol, and the Beldex bridge. The Beldex project is committed to enhancing your privacy online. BDX is a privacy coin and a utility on the privacy-preserving DApps. For privacy lovers, Beldex is the one-stop destination for everything from private messaging to private transactions.

BDX Price Analysis

At the time of writing, BDX is ranked the 379th cryptocurrency globally and the current price is US$0.1114. Let’s take a look at the chart below for price analysis:

Source: TradingView

With little price action to rely on, BDX‘s near-term future is uncertain. A long tail to $0.0717 could hint at future support near this level. However, bulls will likely wait for more confirmation on lower timeframes before bidding. The midpoint of this wick, near $0.0962, has also shown some interest from buyers and could continue to provide support.

Meanwhile, each rally has been sold into, creating long upper wicks as investors take profits during the current uncertain market conditions. Overlapping swing highs and swing lows near the December monthly open, around $0.1116, may continue to provide resistance if the current downtrend continues.

Any rallies before Friday’s hard fork could find resistance near $0.1264, an area that has seen strong selling on each test. Above, the current highs near $0.1500 may also provide resistance again, especially if the price first wicks above this level.

3. Syscoin (SYS)

Syscoin SYS is a full Layer-1 and Layer-2 blockchain solution built to combine industry-proven technology to support cutting-edge applications all in one network. The project’s goal is to build a protocol that transforms the blockchain experience and combines the best of Bitcoin and Ethereum. Through Bitcoin merge-mining, Syscoin transforms Bitcoin’s Proof-of-Work security and decentralisation into a functional and scalable solution. Syscoin’s token platform currently features custom notary API, Fungible Tokens, NFTs, and Fractionalised NFTs.

SYS Price Analysis

At the time of writing, SYS is ranked the 165th cryptocurrency globally and the current price is US$0.5357. Let’s take a look at the chart below for price analysis:

Source: TradingView

The 248% parabolic rally from the October SYS lows to December’s high abruptly sold off 50% as the market crashed.

A long wick through possible support between $0.5270 and $0.4690, near the 61.8% retracement and 40 EMA, shows that buyers were interested in this level. It remains to be seen whether this level can support the price again on a retest. 

Higher timeframes suggest this possible support down to the origin of the last rally could see buying, with a higher probability level near $0.3600. If the price breaks this possible support, the swing low near $0.3014 is the likely bearish target.

Investors selling the news of Monday’s mainnet launch, combined with the weak market conditions, could mean that the current bullish move is over and the price will continue down into consolidation.

Bulls might find resistance near $0.6500, at the highs of the consolidation preceding last week’s swing high. A stronger impulse, perhaps from a convincing relief rally in Bitcoin, might reach slightly higher to probable resistance near $0.7615.

Learn How to Trade Live!

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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?

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