Category: Tezos

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Crypto News EOS Market Analysis Tezos Trading

Top 3 Coins to Watch Today: XTZ, EOS, LINA – December 10 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. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without any danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 41st cryptocurrency globally and the current price is US$5.19. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 105% rally since late September saw a second leg after last week’s market-wide drop ran the previous consolidation’s stops.

The level near $5.65 is providing some resistance. However, continuation through the monthly high at $6.13 is not out of the question. Aggressive bulls might bid in the current region near $6.32. 

If the price runs the recent swing low, bulls might bid in the gap near $5.06. A deeper retracement could reach near the mid-August level and a gap near $4.90. The region near $4.73 and $4.35 may also provide some support during a deeper retracement.

2. 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 50th cryptocurrency globally and the current price is US$3.34. Let’s take a look at the chart below for price analysis:

Source: TradingView

After an 81% decline from mid Q2, EOS has ranged between $3.25 and $4.95. The recent rally is approaching probable resistance near $3.99 – but could be aiming for stops above the relatively equal highs near $4.17. Continuation of the bullish move could target the daily gap near $4.46.

Aggressive bulls might add to positions near $3.21 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 $2.90 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 $2.82.

3. Linear (LINA)

Linear LINA is a decentralised delta-one asset protocol capable of instantly creating synthetic assets with unlimited liquidity. The project opens traditional assets like commodities, forex, market indices and other thematic sectors to cryptocurrency users by supporting the creation of “Liquids”, Linear’s synthetic asset tokens. LINA is an ERC-20 token built on the Ethereum network whose main purpose is as collateral for Liquids (using Buildr), and for community governance of the protocol.

LINA Price Analysis

At the time of writing, LINA is ranked the 335th cryptocurrency globally and the current price is US$0.04029. Let’s take a look at the chart below for price analysis:

Source: TradingView

During November, LINA also turned the corner, breaking a key swing high early to mid-month. This move could suggest a longer-term bullish trend.

The swing high near $0.05436 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near $0.06157.

Even if the bearish trend continues, a stop run at the recent swing low near $0.04012 into possible support beginning near $0.03845 is reasonable. If the price reaches further down, the swing low and possible support near $0.03587 might provide another downside target. 

The area near $0.03315 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near $0.03193 into possible support beginning around $0.03029.

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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 Tezos Tokens

Tezos Up 22% For the Week as $XTZ Staking Increases

XTZ, Tezos’ native token, is hotter than ever, mainly driven by an increment in XTZ staking and developer activity reaching new highs on the network.

The XTZ token is up more than 22 percent for the week, currently trading at US$5.54 per coin as per data from TradingView. The price increase is followed by the growing number of stakers on the Tezos platform, which is currently up 14 percent in the past three months.

Over 260k Contracts Deployed Daily

Another important positive price driver is the number of contract calls deployed on all of Tezos’ three testnets and mainnet combined. An average of 9,635 contracts were deployed daily, totalling 269,785 over the past 28 days.

This highlights the rapid growing developer activity on the network as Tezos-based applications are being used globally. In August, Crypto News Australia reported how XTZ surged soon after a Swiss banking consortium choose the Tezos protocol to develop regulatory-compliant digital financial products.

The soon-to-be-released NFTs on Tezos are also calling the attention of investors. The 64th Grammy Awards, set to take place in January 2022, will use NFT collectibles issued on the Tezos network.

Tim Draper Bullish on Bitcoin and Tezos

Well-known billionaire Tim Draper is not only bullish on Bitcoin but also on Tezos, saying the protocol is everything he wants to see in a crypto project:

What I look for is who are the entrepreneurs and who are the engineers behind a given token. I love some of the tokens. I love Tezos because it’s got a great engineering team, and they’ve redefined how to operate a token. They do it as proof-of-stake. They use less energy, and they have a new form of governance and that’s exciting.

Tim Draper, VC investor

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Blockchain Crypto News NFTs Tezos

Shutdown Tezos NFT Marketplace Revived by Its Community, Begins Transition to DAO

After popular Tezos non-fungible token (NFT) marketplace Hic et Nunc shut down its services last week, founder Rafael Lima stepped back and the community banded together to transition the marketplace into a decentralised autonomous organisation (DAO).

Community Bands Together

Lima took to Twitter to explain that the marketplace’s services were now “discontinued” and a message sharing Hic et Nunc’s smart contract was posted to social media, fuelling speculation among users.

Only days later, the Hic et Nunc marketplace community has banded together around a clone of the original marketplace named “Hicetnunc.art”, after its founder opted to leave the project in the hands of the community. As it stands, Hic et Nunc is again fully operational and the community is transitioning the marketplace to a DAO.

The ecosystem is forging into the future in a transparent, open process, and is in a first-of-its-kind Web3 transition from platform ownership to community ownership.

When Hic et Nunc discontinued its services, it did not entirely go away. The ecosystem is built in open source by default, and metadata, sale data and image files were stored on the Tezos blockchain and InterPlanetary File System (IPFS) directly, not on the marketplace’s website.

Hours after the website was discontinued, over 50 mirror sites went live where artists were able to continue browsing, minting and collecting NFTs on Hic et Nunc.

Fees Lowered to the Limits

Following the speculation surrounding the entire ordeal, Lima lowered the platform fees to one percent. Although he remains the founder and developer, Tezos infrastructure-provided TezTools has become the caretaker of the original Hic et Nunc smart contract until a DAO is set to take over the operations.

Although Hic et Nunc is still a very contentious topic of conversation, and it is now a community-driven project, many believe a name change would be appropriate if Lima were to leave the project completely.

Would you agree?

Categories
Blockchain Crypto News NFTs Tezos

Mystery Surrounds Abrupt Tezos NFT Marketplace Shutdown

Users have been left puzzled after the front-end of Tezos-based non-fungible token (NFT) marketplace Hic et Nunc disappeared last week. The marketplace’s Twitter biography was updated with only the word “discontinued”, and the marketplace tweeted its own smart contract shortly thereafter:

Users Left in the Dark

The front-end for Hic et Nunc went offline on November 11 after its Twitter bio was updated to “offline”. Reasons for the exit are still unclear, but users are speculating that it may be linked to competitor NFT minting marketplace “objkt.com” launching the day before.

However, outside of the Twitter update, no formal explanation has been offered as to the marketplace’s sudden disappearance.

According to crypto artist @MrRudemanners, the marketplace’s developer “Raf” may have made the decision on the spur of the moment, based on the negative messages being posted.

Tezos Remains Immutable

Despite the complete disappearance of Hic et Nunc’s front-end, smart contracts for the NFTs that were listed are immutable, and the NFTs can be seen on objkt.com. Having only launched in March this year, the platform has surpassed OpenSea as the biggest NFT platform based on daily active user count.

Built upon Tezos’s open-source proof-of-stake blockchain, the marketplace has boasted far cheaper minting fees and higher energy efficiency than Ethereum. Although users are left reeling from the sudden loss of Hic et Nunc, its cleaner, cheaper ethos lives on. Once Ethereum 2.0 is launched, it will have a much lower carbon footprint along with lower gas fees.

Tezos Surges in Value

Earlier this year, Tezos surged in value when it was chosen by a Swiss banking consortium to develop regulatory-compliant digital financial products. Along with Tezos, Swiss entities – IT company Inacta, fintech specialist Crypto Finance Group, and Incore Bank, based in Zurich – will partner to power smart contracts for a range of on-chain digital financial products.

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Blockchain Crypto News Ethereum NFTs Tezos

The Grammy Awards in January 2022 Will Use NFTs as Awards

The 64th annual Grammy Awards are set to take place in January 2022, and it has been announced that NFT collectibles will be awarded as prizes.

The digital tokens will be produced in a collaboration between the US Recording Academy and NFT platform OneOf, backed by famed music producer Quincy Jones.

Grammys Goes Green for NFTs

Built on the Tezos blockchain, OneOf is hailed as an environmentally friendly NFT platform specifically designed with the music industry in mind. The platform does not charge artists and creator partners any minting fees to create NFTs, and claims to use 2 million times less energy than other blockchains such as Ethereum, which is the network utilised by most NFTs.

The platform also lowers the barrier to entry for fans by accepting debit and credit cards.

At the moment, NFTs do not offer the best user experience in that they are expensive and the only scaling solutions available compromise on security. This is the reason why more environmentally friendly initiatives are needed. Last month, Sydney-based tech business Immutable raised US$60 million for an eco-friendly NFT games platform.

Academy Scholarship Fund

According to the Recording Academy, the collection will include digital collectibles in a similar concept to what World Wrestling Entertainment (WWE) now offers its fans. The Academy added that a portion of the proceeds from NFT sales will go towards its scholarship fund.

According to Recording Academy co-president Panos Panay:

As an academy, we are always looking for ways to help artists discover new forms of creative expression while also creating new ways of income generation and ways for fans to interact with the artists that they love. OneOf shares that vision, and we are proud to work with a sustainable NFT company.

Panos Panay, co-president, Recording Academy
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Crypto News Market Analysis Solana Stellar Tezos Trading

Top 3 Coins To Watch Today: SOL, XLM, XTZ – October 5 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. 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 6th cryptocurrency globally and the current price is A$228.74. Let’s take a look at the chart below for price analysis:

Source: TradingView

August’s 150% rally ended with a drop as early October reached the 58.6% retracement level of SOL‘s last bullish leg.

The price is currently testing possible support beginning near A$218.34, just below the October open. Some bulls might be buying here, but many may be waiting for the price to show a willingness to move up from this level.

Below, just under the October monthly open and 41.8% retracement level of a more significant bullish swing, the area near A$203.65 could provide more substantial support. However, if the price reaches this far, it’s likely to touch possible support near A$192.05 around the 68.6% retracement level.

Near-term, the top of the mid-September consolidation near A$245.38 may provide resistance. A break through this level could reach near the last significant swing high with resistance likely to begin near A$261.70. 

2. Stellar (XLM)

Stellar XLM is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked – but soon after, its priorities shifted to helping financial firms connect with one another through blockchain technology. The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers who often charge high fees for a similar service.

XLM Price Analysis

At the time of writing, XLM is ranked the 26th cryptocurrency globally and the current price is A$0.4147. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM kicked August off with a nearly 85% rally, spiking through the Q3 highs before testing possible support at the old high’s candle body near A$0.4011.

This area could provide support, although any sharp downturn in the market is likely to drive the price towards possible support around the current range’s EQ and the 9 EMA, near A$0.3756. A surge of traders selling during this week could pressure the price back down into accumulation before the next bull trend begins.

If bulls fail to step in at the possible mid-range support, a deeper retracement to possible support near A$0.3488 is likely. This area has confluence with the 61.8% retracement level, 18 EMA, and 40 EMA.

The highs near A$0.4597 are likely to provide some short-term resistance. However, a break of this level brings attention to the round numbers at A$0.4933 and A$0.5316 as the next probable resistances where bulls might take profits.

3. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without any danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 26th cryptocurrency globally and the current price is A$11.89. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 285% rally since mid-July saw a second leg after last week’s market-wide drop ran the previous consolidation’s stops.

The level near A$11.95 is providing some resistance. However, continuation through the all-time high at A$12.23 is not out of the question. Aggressive bulls might bid in the current region near A$11.82. 

If the price runs the recent swing low, bulls might bid in the gap near A$11.25. A deeper retracement could reach near the mid-September level and a gap near A$10.76. The region near A$9.83 and A$9.35 may also provide some support during a deeper retracement.

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.

Categories
Crypto News Market Analysis Tezos Trading

Top 3 Coins To Watch Today: XTZ, RSR, DYDX – September 14 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. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without there ever being a danger of a hard fork, something both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 30th cryptocurrency globally and the current price is A$10.33. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 255% rally since mid-July saw a second leg after last Tuesday’s market-wide drop ran the previous consolidation’s stops.

The level near A$10.29 is providing some resistance. However, continuation through the all-time high at A$11.44 is not out of the question. Aggressive bulls might bid in the current region near A$9.45. 

If the price runs the recent swing low, bulls might bid in the gap near A$8.02. A deeper retracement could reach near the September monthly open and a gap near A$7.05. The region near A$5.29 and A$4.87 may also provide some support during a deeper retracement.

Beyond the May highs, little exists to frame probable bullish targets. Extensions suggest that the areas near A$12.91, A$14.27 and A$16.03 could provide some resistance.

2. Reserve Rights (RSR)

Reserve Rights RSR is a dual-token stablecoin platform that was launched in May 2019 following a successful initial exchange offering (IEO) on the Huobi Prime platform. Reserve Rights’ dual token setup includes a stablecoin known as the Reserve stablecoin (RSV), which is backed by a basket of assets managed by smart contracts. The second token is the Reserve Rights token (RSR), which is used to keep the RSV stable at its $1.00 price target through a system of arbitrage opportunities

RSR Price Analysis

At the time of writing, RSR is ranked the 134th cryptocurrency globally and the current price is A$0.03483. Let’s take a look at the chart below for price analysis:

Source: TradingView

RSR‘s late-August rally has retraced approximately 42% as the price hovers over possible support beginning near A$0.047.

The significant number of lows in this area will likely see a stop run before any potential move higher. The gap at A$0.043 could provide support for a shallow stop run. 

However, lows near A$0.039 also provide a tempting downside target if bitcoin begins a bearish trend. Under these lows, bulls might find support near A$0.036 – or as low as A$0.029 if the market sees a sustained bearish move.

The confluence of levels near A$0.058 that surround the September monthly open may provide some resistance, particularly if reached before a run of the lows near A$0.047. 

Should the bullish trend resume, A$0.070 may provide some resistance before running the swing highs at A$0.073 and A$0.083. Looking higher, A$0.092 and A$0.12 may also provide resistance in the future.

3. Dydx (DYDX)

DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol. By enabling shared control of the protocol, DYDX allows traders, liquidity providers and partners of dYdX to work collectively towards an enhanced Protocol. DYDX enables a robust ecosystem around governance, rewards and staking, each designed to drive future growth and decentralisation of dYdX, resulting in a better experience for users.

DYDX Price Analysis

At the time of writing, DYDX is ranked the 224th cryptocurrency globally and the current price is A$13.72. Let’s take a look at the chart below for price analysis:

Source: TradingView

DYDX consolidates between A$22.32 and A$13.35 with the bulk of the volume concentrated in the lower half of the range. The price does not indicate a clear longer-term direction yet as stop orders build on both sides of the range.

Range traders will likely take profits or sell near A$16.53. A stop run and swift rejection above A$17.34 could provide a more favourable risk-to-reward entry for bears. An old 4h gap around A$18.34 might cap this stop run.

Bulls will likely accumulate more long positions on a run below the relatively equal lows near A$13.35. Little exists below the current range to identify precise support levels. However, the area between A$9.51 and A$10.87 could also give support during a deeper stop run.

If the price does break out decisively to the upside, the swing high at A$19.70 provides a reasonable target. The highs and daily resistance levels between A$21.47 and A$22.32 may provide a second target.

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.

Categories
Crypto News Market Analysis Tezos Trading

Top 3 Coins To Watch Today: UNI, XTZ, BAND – September 2 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. Uniswap (UNI)

Uniswap UNI is a popular decentralised trading protocol known for its role in facilitating automated trading of decentralised finance (DeFi) tokens. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges. Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralised exchanges.

UNI Price Analysis

At the time of writing, UNI is ranked the 11th cryptocurrency globally and the current price is A$41.28. Let’s take a look at the chart below for price analysis:

Source: TradingView

UNI‘s nearly 55% retracement from its early May high found a low near A$23.89 in late June before July’s bullish trend began. The price is currently approaching resistance at a swing high near A$43.57. If this level breaks, bulls might target the swing highs near A$47.19, A$48.67, and potentially up to A$50.22. Resistance near A$53.12 and A$56.81 could cap this move.

If the market remains bullish for the near term, bulls might buy at A$45.33. However, a stop run into A$37.74 could offer a higher probability entry. A steeper drop could reach below the swing low into possible support near A$34.17.

2. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 34th cryptocurrency globally and the current price is A$7.24. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s chart paints a different picture to many other altcoins, with May’s high leading to a massive range before setting a low near A$3.15 in July.

The near 82% spike within two weeks at the beginning of August makes immediate bids questionable. However, the price may be finding support near A$6.89 and possibly near A$6.23. Since the price swept the impulse’s high at A$6.50, bulls might be waiting to enter near the swing low and gap near A$5.88, or slightly lower near A$5.12.

Little resistance lies overhead, although some might exist between A$7.55 and approximately A$7.79, just above the current price. A sweep and rejection of the high near A$8.27 would make most areas of possible support highly suspect and could mark the end of the bullish trend.

3. Band Protocol (BAND)

Band Protocol BAND is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart contracts to facilitate the exchange of information between on-chain and off-chain data sources. BAND is the native token of the Band Protocol ecosystem and is used as collateral by validators involved in fulfilling data requests, as well as being the main medium of exchange on BandChain, used to paying for private data.

BAND Price Analysis

At the time of writing, BAND is ranked the 156st cryptocurrency globally and the current price is A$13.29. Let’s take a look at the chart below for price analysis:

Source: TradingView

Like many other altcoins, BAND set a high around mid-April before retracing 83% to the low at A$7.89 in June.

Price broke through resistance near A$11.48, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near A$11.26. However, a drop this far increases the chances of a stop run to A$10.91 and possibly into support near A$10.23. For now, continuing bullish market conditions could help A$12.37 become support.

The swing high around A$15.66 gives bulls a reasonable first target, with A$15.84 also likely to draw the price upward. Higher-timeframe resistance beginning near A$16.58 or A$17.00 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near A$17.52.

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.

Categories
Binance Crypto News IOTA Market Analysis Swyftx Tezos Trading

Top 3 Coins To Watch Today: DOT, XTZ, IOTA August 11 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. Polkadot (DOT)

Polkadot DOT is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain,

DOT Price Analysis

At the time of writing, DOT is ranked the 9th cryptocurrency globally and the current price is A$28.02. Let’s take a look at the chart below for price analysis:

Source: TradingView

After its early Q2 bullrun, DOT has been ranging between approximately A$21.05 and A$32.45.

Last week’s sharp decline ran equal lows into a gap on the daily chart. This down move could set the stage for an attack on the relatively equal highs near A$29.34 if the price can break probable resistance near A$32.78 and A$34.21. 

Above these highs, resistance near A$39.54 could halt a bullish move, although reaching the monthly high at A$45.32 is possible.

Aggressive bulls might look for entries in possible support near A$25.86 and A$24.00, just below the current price. If the price sweeps last week’s low, the levels near A$23.59 and A$21.48 may also provide support.

2. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 45th cryptocurrency globally and the current price is A$4.35. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ’s spectacular May pump has retraced most of its gains as it finds support near A$3.47.

Stops under the relatively equal lows near A$4.12 might be swept, along with the swing low near A$3.89. If this sweep happens, the price could find support near A$3.55. A move further down could find more support near A$3.27.

Spikes upward are likely to encounter resistance beginning near A$4.88. If the bullish trend resumes after re-accumulation, some traders might take profits as the price approaches probable resistance starting around A$5.13 and A$5.38.

The monthly peak near A$6.12 provides a clear first primary target. Any price moves beyond this level are challenging to predict from current price action for the short-term trade.

3. MIOTA (IOTA)

IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked the 47th cryptocurrency globally and the current price is A$1.30. Let’s take a look at the chart below for price analysis:

Source: TradingView

The second half of May punished IOTA bulls with a nearly 72% drop before the price found support near an old swing low around A$1.05.

Aggressive bulls might look for entries at possible support beginning near A$1.15. However, stops under the equal lows near A$0.9355 are likely to be swept.

The area near A$1.00 provides a possible target for this stop run if it occurs. A more sustained bearish trend could reach down to the broad zone of possible support between A$0.8945 and A$0.8236.

The price is currently challenging resistance at a gap beginning near A$1.49. If this level breaks, bulls could find more resistance near A$1.65 while targeting the highs up to A$1.77. 

A sweep of these highs is likely to find resistance by the time price reaches the area near A$1.96. The next reasonable targets would be the swing highs and resistance near A$2.31 and A$2.54.

Where to Buy or Trade Altcoins?

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

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Crypto News Lisk Market Analysis Tezos Trading Zilliqa

Altcoins Trading Analysis – 3 Coins that Might Breakout this Week: LSK, XTZ, ZIL

For today’s trading news, we’re looking at three altcoins that might breakout by showing bullish trends in the charts.

1. LISK (LSK)

Lisk (LSK), founded in early 2016 by Max Kordek and Oliver Beddows and headquartered in Zug, Switzerland, is a blockchain application platform that seeks to make blockchain technology more accessible to the masses. Lisk focuses on user experience, developer support, and in-depth documentation. Lisk’s SDK kit is written in JavaScript so as to allow developers to easily build blockchain applications on the Lisk blockchain and even deploy their own sidechain linked to the Lisk network. The open-source Lisk blockchain platform is powered by Lisk (LSK) tokens and operates under the Delegated Proof of Stake (DPoS) consensus model to allow for its network to be secured by democratically elected delegates.

LISK Price Analysis

At the time of writing, LSK is ranked 86th cryptocurrency globally and the current price is $1.50 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

After a November rally, LSK dropped to support near the 70.5% retracement during December. Currently, the price is accumulating at a significant monthly level after running stops near the weekly support at $1.34 AUD.

A Q1 2021 Altcoins season could make the current region an excellent entry opportunity for bulls, with any quick drops to the supports near $1.34 AUD and $1.27 AUD giving even higher risk-reward entries.

The relatively equal highs on the daily chart near $1.65 AUD provide a highly probable first target. If the price breaks the December monthly open, the relatively equal highs near $1.90 AUD provide the next target.

The swing high at $1.76 AUD provides a third target for an extended rally, although some resistance starting at $1.74 AUD could slow down bulls before reaching the fourth target near $2.35 AUD.

2. Tezos (XTZ)

Tezos is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked 19th cryptocurrency globally and the current price is $2.70 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

Last week, XTZ swept stops below the Q4 support near $1.98 AUD before quickly bouncing into support between $2.25 AUD and $2.17 AUD.

The upward speed of this move back into support shows that buyers are eager to enter, suggesting that more upward movement might be coming.

If the price breaks resistance near $2.93 AUD, just below the monthly open, the equal highs near $3.14 AUD provide an appealing first target. Bullish continuation through the resistance beginning at $3.27 AUD would hint that the next target is the swing high near $3.56 AUD.

Beyond this target, the resistance beginning at $3.98 AUD could be strong enough to halt the bull run. If this resistance breaks, a parabolic rise through the highs might reach the mid-August.

3. Zilliqa (ZIL)

Zilliqa is a public, permissionless Blockchain that is 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 decentralized applications, and as of October 2020, it also allows for staking and yield farming.

ZIL Price Analysis

At the time of writing, ZIL is ranked 34th cryptocurrency globally and the current price is $0.1286 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

ZIL has already climbed over +275% since its December low, but altcoins sometimes run far beyond what most traders expect.

The price recently retested the 62% retracement of the last swing high and low on the four-hour chart, suggesting that some bulls are still looking for more upside.

If this retest proves to be the local low, overlapping extensions from this pattern and the December move point to the areas around $0.0988 AUD, $0.1421 AUD, $0.1645 AUD, and $0.1935 AUD being the next probable take-profit zones.

If the price instead drops below the weekly open to fill the daily chart gap, the range beginning at $0.0828 AUD could prove as support. More substantial support starts at $0.0621 AUD, while the consolidation preceding this bull run at $0.0543 AUD marks a likely re-accumulation zone.

Where to Buy or Trade Altcoins?

These 3 Altcoins have the highest liquidity on Binance Exchange so that would help for trading on USDT or BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.