Category: The Graph

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Ankr Crypto News Market Analysis NEO The Graph Trading

Top 3 Coins to Watch Today: ANKR, GRT, NEO – August 12 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. 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 90th 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 55th 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 63rd 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.

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Crypto News EOS Market Analysis Polkadot The Graph Trading

Top 3 Coins to Watch Today: DOT, GRT, EOS – July 21 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. Polkadot’s native DOT token serves three clear purposes: providing network governance and operations, and creating parachains by bonding. 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 11th cryptocurrency globally and the current price is US$7.72. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT has retraced nearly 75% after Q2, showing little sign of interest from buyers.

June’s consolidation at possible support from $9.65 to $7.12 broke down with the rest of the market last month, turning this into likely resistance on future retests. This area now has confluence with the 9 and 18 EMAs.

If market conditions turn and this resistance breaks, an area near the midpoint of Q2 consolidation range, near $8.70, and the monthly high near $10.18 may see profit-taking from bulls.

The first test of possible support near $7.04 has showed some sensitivity. Still, continued bearishness in the market will likely cause a break of this level.

A break of this support might continue to drop to the next possible support near $6.85, running stops under the Q3 2021 swing low. If this level gives support and begins a consolidation forming a bottom, bulls might wait for a wick below to possible support from $6.35 to $6.00.

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 60th cryptocurrency globally and the current price is US$0.1109. Let’s take a look at the chart below for price analysis:

Source: TradingView

GRT‘s 80% retracement during Q2 set a low near $0.08747 during its consolidation that began in early June.

Relatively equal highs near $0.1435 could be the current target if the price breaks through resistance beginning near $0.1658. Bullish continuation may reach through the next significant swing high near $0.1838 into the daily gap near $0.2173.

If bullish strength continues, the zones just below the previous monthly highs near $0.2343 and $0.2512 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $0.1036 into possible support near $0.09872. If this down move occurs, the swing low near $0.09042 and possible support near $0.08624 may be the primary objective.

3. 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 48th cryptocurrency globally and the current price is US$1.07. Let’s take a look at the chart below for price analysis:

Source: TradingView

EOS has plummeted nearly 70% from its April 2022 highs and almost 95% from its May 2021 all-time high.

The closest resistance overlaps with the 8 EMA near $1.25, where the daily chart shows inefficient trading. This level rejected the price’s first retest on May 13.

Slightly higher, $1.41 offers the next noteworthy resistance. This area was inefficiently traded and overlaps with the last significant swing low in mid-March.

Last week, the price bounced from support near $1.00, which could provide support again. This level shows inefficient trading on the monthly chart and is near the midpoint of September 2017’s accumulation.

If this support breaks, bulls could find support near $0.8239. This level is at the bottom of an inefficiently traded area on the monthly and weekly charts. It’s also the high point of October 2017’s accumulation range. However, eager bidders should be cautious as a move this low may be targeting bulls’ stops under the swing low at $0.7430.

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 Fantom Market Analysis The Graph Trading Waves

Top 3 Coins to Watch Today: WAVES, FTM, GRT – March 17 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. Waves (WAVES)

WAVES is a multi-purpose blockchain platform that supports various use cases, including decentralised applications (DApps) and smart contracts. The platform has undergone various changes and added new spin-off features to build on its original design. Waves’ native token is WAVES, an uncapped supply token used for standard payments such as block rewards. Waves initially set out to improve on the first blockchain platforms by increasing speed, utility and user-friendliness.

WAVES Price Analysis

At the time of writing, WAVES is ranked the 40th cryptocurrency globally and the current price is US$27.94. Let’s take a look at the chart below for price analysis:

Source: TradingView

During the last week’s high, WAVES‘ slight drop marks the current range as a reasonable area to expect accumulation.

The recent bearish flip of the 9, 18 and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near $25.88 and $22.35 – between the 31.8% and 40.6% retracements – could see at least a short-term bounce. 

Long-term consolidation suggests that the areas near $33.45 and $35.61 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $29.77, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $31.42, the start of the bearish move.

2. Fantom (FTM)

Fantom FTM is a directed acyclic graph (DAG) smart contract platform providing decentralised finance (DeFi) services to developers using its own bespoke consensus algorithm. Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms – specifically transaction speed, which developers say they have reduced to under two seconds.

FTM Price Analysis

At the time of writing, FTM is ranked the 44th cryptocurrency globally and the current price is US$1.18. Let’s take a look at the chart below for price analysis:

Source: TradingView

FTM‘s bounce since January ran into resistance near the old all-time highs. This rejection created a set of relatively equal highs near $3.25, possibly forming the next bullish leg’s target. Until then, the price will likely encounter resistance near $1.90.

Currently, the price is testing possible support near the weekly open, around $1.08. This level also has confluence with the 78.6% retracement of the current local range and the 18 and 40 EMAs. 

If this level fails to provide support, a zone from $0.9849 to $0.9230 might mark a possible swing low or consolidation area. This zone is between the 61.8% and 75.6% retracement of early December’s swing.

A more bearish tone in the market could propel the price lower. The lows, near $0.8837, might mark an area of possible support as well as a bearish target.

3. 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 49th cryptocurrency globally and the current price is US$0.4388. Let’s take a look at the chart below for price analysis:

Source: TradingView

GRT‘s 80% retracement in Q1 set a low near $0.3147 during its consolidation that began in early March.

Relatively equal highs near $0.5244 could be the current target if the price breaks through resistance beginning near $0.5958. Bullish continuation might reach through the next significant swing high near $0.6138 into the daily gap near $0.6612.

If bullish strength continues, the zones just below the previous monthly highs near $0.7043 and $0.7412 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $0.4036 into possible support near $0.3782. If this down move occurs, the swing low near $0.3342 and possible support near $0.3016 may be the primary objective.

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.