Category: Trading

Top 3 Coins to Watch Today: ADA, MATIC, SAND – January 4 Trading Analysis

Post author By Malik Junaid
Post date January 4, 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 6^th cryptocurrency globally and the current price is US$1.37. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s nearly 75% drop from its November highs found a low near $1.22 during mid-December before closing over a short-term high.

This daily close over the high could signal a shift in market structure that might reach probable resistance near $1.48. A sustained bullish move may target the swing high at $1.57. If this stop run occurs, a run beyond the high into probable resistance near $1.65 and $1.80 is possible.

Bulls could buy a retracement to possible support near $1.30, just above the monthly open. A bearish turn in the marketplace may propel the price toward possible support near $1.24.

However, relatively equal lows near $1.19 and $1.14 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $1.10 and $1.05.

2. Polygon (MATIC)

Polygon MATIC is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. The MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.

MATIC Price Analysis

At the time of writing, MATIC is ranked the 14^th cryptocurrency globally and the current price is US$2.49. Let’s take a look at the chart below for price analysis:

Source: TradingView

December 2021 marked a turning point for MATIC, with the price rocketing up almost 85% from its lows to probable resistance beginning near $2.85.

The price is currently struggling with the area between $2.38 and $2.60. This region could provide support after a close above, or resistance after a close below.

A retracement could reach into the daily gap and possible support around $2.35. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $2.24, and the potential support just below that begins around $2.15.

Continuation to the upside will likely target the recent monthly highs near $2.89. However, probable resistance beginning at $2.70 and $2.78 could cap or slow down this move.

3. The Sandbox (SAND)

The Sandbox SAND is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralised autonomous organisations (DAOs) and non-fungible tokens (NFTs), the Sandbox creates a decentralised platform for a thriving gaming community. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.

SAND Price Analysis

At the time of writing, SAND is ranked the 36^th cryptocurrency globally and the current price is US$5.82. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since November’s high, SAND‘s 65% 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 $5.62 and $5.42 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce.

Long-term consolidation suggests that the areas near $6.34 and $6.90 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $6.15, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $6.30, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $6.54 might provide a ceiling for this impulse.

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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.

Crypto News Market Analysis Tezos Trading

Top 3 Coins to Watch Today: FTM, XTZ, RVN – January 3 Trading Analysis

Post author By Malik Junaid
Post date January 3, 2022

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

1. 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 29^th cryptocurrency globally and the current price is US$2.49. Let’s take a look at the chart below for price analysis:

Source: TradingView

During early November, FTM broke several swing highs that could be the signal for a new bullish trend.

Last week’s break of the most recent swing low could suggest some downside in the short term. It formed probable resistance near $2.23 and may target the swing low and possible support near $2.10.

The swing low and possible support near $2.00 could be the second bearish target if the move down continues. The relatively equal lows near $1.95 and possible support underneath near $1.89 could provide more substantial support.

The last swing high near $2.55 gives a near-term target if bullish continuation continues. However, resistance beginning around $2.62 could cap this move. A break of this resistance might continue to probable resistance near $2.73 and reach above the cluster of relatively equal new monthly highs near $2.85 and $2.93.

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 any 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 44^th cryptocurrency globally and the current price is US$4.67. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 82% drop since late November saw a second leg after last week’s market-wide drop ran the previous consolidation’s stops.

The level near $4.89 is providing some resistance. However, continuation through the monthly high at $5.19 is not out of the question. Aggressive bulls might bid in the current region near $4.88.

If the price runs the recent swing low, bulls might bid in the gap near $4.60. A deeper retracement could reach near the mid-December level and a gap near $4.54. The region near $4.49 and $4.42 may also provide some support during a deeper retracement.

3. Ravencoin (RVN)

Ravencoin RVN is a digital peer-to-peer (P2P) network that aims to implement a use case-specific blockchain designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin aims to solve the problem of assets transfer and trading over the blockchain. Previously, if someone created an asset on the Bitcoin blockchain, it could be accidentally destroyed when someone traded the coins it was created with. RVN coins are designed as internal currency within the network and must be burnt in order to issue token assets on the Ravenchain.

RVN Price Analysis

At the time of writing, RVN is ranked the 92^nd cryptocurrency globally and the current price is US$0.1035. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the November high, RVN‘s 75% 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 $0.09345 and $0.09038 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce.

Last year’s long-term consolidation suggests that the areas near $0.1346 and $0.1478 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $0.1152, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $0.1295, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $0.1326 might provide a ceiling for this impulse.

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Top 3 Coins to Watch Today: XRP, LTC, ADA – December 23 Trading Analysis

Post author By Malik Junaid
Post date December 23, 2021

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

1. Ripple (XRP)

Ripple XRP is the currency that runs on a digital payment platform called RippleNet, on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and is not based on a blockchain, but rather the previously mentioned distributed ledger database.

XRP Price Analysis

At the time of writing, XRP is ranked the 7^th cryptocurrency globally and the current price is US$0.9425. Let’s take a look at the chart below for price analysis:

Source: TradingView

XRP‘s 80% climb during Q3 returned to the monthly open, sweeping lows several times down to $0.7822. Last week, the price bounced from the monthly open near $0.8243 again, creating possible support near $0.8050. A quick sweep of this recent swing low could reach into a support area near $0.7912, while a sharp downturn in the market is likely to run for the relatively equal lows near $0.7725.

If the price breaks through the closest significant resistance near $0.9556, the swing high at $0.9934 is a likely target. This move could reach a daily gap of near $1.12.

Strong bullish momentum could propel the price to resistance near $1.15. If this move occurs, the significant swing high near $1.22 provides a reasonable goal.

2. Litecoin (LTC)

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

LTC Price Analysis

At the time of writing, LTC is ranked the 18^th cryptocurrency globally and the current price is US$155.75. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low in late September, LTC kicked off a bullish trend that rallied nearly 83% by November to break the monthly highs.

The following 65% plummet found support near $148.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $158.43.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $168.12, where aggressive bulls might begin bidding. The level near $177.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $190.05.

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $146.18 could provide at least a short-term bounce. If this level fails, the old highs near $139.44 might also give support and see the start of a new bullish cycle after retesting these support levels.

3. 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 6^th cryptocurrency globally and the current price is US$1.35. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s nearly 70% drop from its November highs found a low near $1.20 during mid-December before closing over a short-term high.

This daily close over the high could signal a shift in market structure that might reach probable resistance near $1.42. A sustained bullish move may target the swing high at $1.50. If this stop run occurs, a run beyond the high into probable resistance near $1.62 and $1.78 is possible.

Bulls could buy a retracement to possible support near $1.27, just above the monthly open. A bearish turn in the marketplace may propel the price toward possible support near $1.22.

However, relatively equal lows near $1.18 and $1.13 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $1.10 and $1.03.

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Top 3 Coins to Watch Today: ETH, SHIB, HOT – December 22 Trading Analysis

Post author By Malik Junaid
Post date December 22, 2021

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

1. Ethereum (ETH)

Ethereum ETH is a decentralised open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralised smart contracts. Ethereum’s own purported goal is to become a global platform for decentralised applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime, and fraud.

ETH Price Analysis

At the time of writing, ETH is ranked the 2^nd cryptocurrency globally and the current price is US$3,981.13. Let’s take a look at the chart below for price analysis:

Source: TradingView

ETH‘s long-term range from November’s high could be coming to an end. The 9, 18 and 40 EMAs flipped bullish at the beginning of December after late November’s retracement, showing strength as BTC recovered. Currently, the price is hovering just under the monthly high as bulls take some profits.

Two swing highs and the 9 EMA could mark $3880.87 to $3726.72 as an area of possible support. A deeper retracement will likely find some buyers around the 61.8% retracement near $3567.59.

The monthly high will likely see some profit-taking, but the area near the 27% extension, at $4250.12, could also provide some resistance. The 61.8% extensions of the last two swings converge near $4520.54, which could be the target for a monthly high break before a new setup emerges.

2. Shiba Inu (SHIB)

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

SHIB Price Analysis

At the time of writing, SHIB is ranked the 12^th cryptocurrency globally and the current price is US$0.00003321. Let’s take a look at the chart below for price analysis:

Source: TradingView

SHIB wasted no time during October, rocketing upward over 465% from the first week of the month into the resistance near $0.00007982.

For the past several days, the price has been moving in a falling wedge and appears to be flipping old support near $0.00003142 to resistance. If this level breaks – perhaps due to the tempting daily equal lows below – the next support begins near $0.00002829.

Bulls entering at these levels could set their first target near the previous resistance near $0.00003580. Beyond this level, probable targets include the new monthly highs near $0.00003824 and the resistance above near $0.00004092.

A break of this resistance later this month could continue to the new weekly highs near $0.00004522 and $0.00004954.

3. Holo (HOT)

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

HOT Price Analysis

At the time of writing, HOT is ranked the 78^th cryptocurrency globally and the current price is US$0.008031. Let’s take a look at the chart below for price analysis:

Source: TradingView

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

A retracement might uncover support near $0.007596, which is the daily high of the last swing low. The high of the wick beginning near $0.007350 may also provide support. However, bulls will likely remain wary of the current downtrend, making the low at $0.006829 likely to be the next bearish target.

Just above, the daily gap beginning near $0.008333 may provide resistance to bulls, possibly marking a future range high. A push through this level is likely to target the swing high near $0.008599 – perhaps running to probable resistance near $0.008945. Strength above this level might signal the start of a bullish trend, encouraging bulls to “buy the dip”.

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Top 3 Coins to Watch Today: AVAX, FET, DGB – December 21 Trading Analysis

Post author By Malik Junaid
Post date December 21, 2021

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

1. Avalanche (AVAX)

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

AVAX Price Analysis

At the time of writing, AVAX is ranked the 10^th cryptocurrency globally and the current price is US$104.86. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s 188% bullish trend in Q4 ended in a 49% retracement as the rest of the altcoin market dropped. Bulls stepped in near the 61.8% retracement of Q4’s move, creating a consolidation that ended with last week’s bullish impulse to resistance near $112.35.

With the 9, 18 and 40 EMAs stacked bullish and a bullish higher-timeframe trend, it’s reasonable to anticipate retracement to possible support before further bullish expansion.

Near the 40 EMA, a broad zone from $98.00 to $86.35 could see interest from bulls before further expansion. If this level fails, bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 78.6% retracement, at $75.50, and potentially lower to a higher-timeframe support zone between $69.82 and $57.75.

If the higher-timeframe bullish trend resumes and the current resistance near $112.35 breaks, the wicks near $134.84 and the all-time high might see profit-taking.

A more significant expansion could reach near the 80 level, at $180, and potentially the 150% extension of Q4’s move, near $200.

2. 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 160^th cryptocurrency globally and the current price is US$0.4376. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a lengthy distribution from September to October, FET‘s price finally fell toward 2021’s range low.

The 78.6% retracement of the range, near $0.4389, could support at least a short-term bounce or trigger a consolidation.

Until the daily chart shows signs of reversal, possible support near clustered swing highs and swing lows near $0.3529 could be a bearish target.

If this level fails to provide support, an inefficiently traded area on higher-timeframe charts, from $0.1587 to $0.1197, could be the next draw for price.

Any retracement upward may be capped near $0.5506, around the 61.8% retracement of the higher-timeframe range. However, the two-month consolidation lows near $0.6920 are still a reasonable target for a bounce.

Just above this level, the H1 2021 swing high and midpoint of the consolidation range, near $0.7807, may also provide resistance. If the price clears this resistance, it could signal a new bullish trend.

3. DigiByte (DGB)

DigiByte DGB is an open-source blockchain and asset creation platform. A longstanding public blockchain and cryptocurrency, DigiByte uses five different algorithms to improve security, and originally aimed to improve on the Bitcoin blockchain’s security, capacity, and transaction speed. DigiByte consists of three layers: a smart contract “App Store”, a public ledger, and the core protocol featuring nodes communicating to relay transactions.

DGB Price Analysis

At the time of writing, DGB is ranked the 134^th cryptocurrency globally and the current price is US$0.03202. Let’s take a look at the chart below for price analysis:

Source: TradingView

After climbing nearly 150% since the beginning of Q3, a 115% range has trapped DGB between $0.04749 and $0.03122 during Q4.

A consolidation near $0.03492, visible on the weekly chart, provided support on the last touch. This level could provide support again on a stop run under the $0.03015.

A deeper run-on stop at $0.02920 might reach the top of a higher-timeframe gap at the same level. However, a push this low reduces the chance of a new monthly high soon. Below, little significant support exists until $0.02713.

Higher-timeframe levels overlapping with a daily gap beginning at $0.03495 are likely to provide resistance, perhaps on a sweep of the equal highs near $0.03640. Breaking this resistance makes the relatively equal highs near $0.03855 and the monthly high at $0.04047 the next probable targets.

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Top 3 Coins to Watch Today: YFI, ALICE, TLM – December 20 Trading Analysis

Post author By Malik Junaid
Post date December 20, 2021

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

1. Yearn Finance (YFI)

Yearn Finance YFI is an aggregator service for decentralised finance (DeFi) investors, using automation to allow them to maximise profits from yield farming. Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committed manner than serious traders. The platform makes use of various bespoke tools to act as an aggregator for DeFi protocols such as Curve, Compound and Aave, bringing those who stake cryptocurrency the highest possible yield.

YFI Price Analysis

At the time of writing, YFI is ranked the 83^rd cryptocurrency globally and the current price is US$31,967. Let’s take a look at the chart below for price analysis:

Source: TradingView

YFI‘s 58% rally during mid-December saw a second leg after last week’s market-wide drop ran the previous consolidation’s stops.

The level near $34,576 is providing some resistance. However, continuation through the monthly high at $33,156 is not out of the question. Aggressive bulls might bid in the current region near $32,132.

If the price runs the recent swing low, bulls might bid in the gap near $29,360. A deeper retracement could reach near the mid-September level and a gap near $28,190. The region near $27,753 and $26,935 may also provide some support during a deeper retracement.

2. 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 154^th cryptocurrency globally and the current price is US$12.18. Let’s take a look at the chart below for price analysis:

Source: TradingView

After accumulating under the November monthly open, ALICE rallied 105% in a week before retracing to support near $18.55. Buyers continue to snatch up dips under the weekly open, suggesting that accumulation is still taking place.

Bulls could look for entries in this region while being conscious of a potential stop run below the cluster of lows at $13.17. Two areas of support, beginning near $11.57 and $9.29, provide probable buys if the price dips this low.

The equal highs near $15.63 provide a first reasonable bullish target. If the price takes this target and penetrates the surrounding resistance, the next probable resistance begins near $18.66. Possible targets include the old highs just above this resistance near $20.83, $21.46, and $22.39.

3. Alien Worlds (TLM)

Alien Worlds TLM is a decentralised, non-fungible token (NFT) metaverse where players compete for scarce resources of Trilium (TLM) in a simulated economy based around planetary worlds. Due to this, Alien Worlds also has a decentralised finance (DeFi) element to the game, as players advance by staking TLM and using TLM to vote in Planet Decentralised Autonomous Organisations (DAOs).

TLM Price Analysis

At the time of writing, TLM is ranked the 298^th cryptocurrency globally and the current price is US$0.2113. Let’s take a look at the chart below for price analysis:

Source: TradingView

TLM formed relatively equal lows near $0.1924 after dropping over 45% during November. These lows could provide the target for another leg down, possibly finding support in the monthly gap of around $0.1785.

If this sweep of the $0.1753 swing lows occurs, more aggressive bulls might begin bidding the weekly level near the swing low around $0.1644. Should the market take a more bullish turn, the level just below near $0.1563 could provide some short-term support.

The steep drop left large areas of inefficient price action, making the daily gap up to $0.2436 likely to be touched or filled. A sustained move through this resistance could visit a significant area on the monthly and weekly chart near $0.2605.

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Top 3 Coins to Watch Today: BNB, SOL, MATIC – December 17 Trading Analysis

Post author By Malik Junaid
Post date December 17, 2021

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

1. Binance Coin (BNB)

Binance BNB is the biggest cryptocurrency exchange globally, based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of world financial activity. Aside from being the largest cryptocurrency exchange, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. Binance Coin is an integral part of the successful functioning of many of the Binance sub-projects.

BNB Price Analysis

At the time of writing, BNB is ranked the 3^rd cryptocurrency globally and the current price is US$548.67. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 60% decline from August to September, BNB has ranged between $650.23 and $516.55.

The recent rally was approaching probable resistance near $610.33 but could be aiming for stops above the relatively equal highs near $560.21. Continuation of the bullish move could target the daily gap near $578.12.

Aggressive bulls might add to positions near $557.67 and $550.32. Price action near $528.66 may be more likely to provide support – if it gets there – during any retracements.

Relatively equal lows clustered around $487.47 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 $445.90.

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 5^th cryptocurrency globally and the current price is US$186.04. Let’s take a look at the chart below for price analysis:

Source: TradingView

SOL retraced nearly 65% from its high before finding a low during last week. Since then, the price has been sweeping stops on both sides of its local range as the current consolidation sets up the next move.

Aggressive bulls might bid near $172.34, although a sweep of the stops near $165.61 could reach below the next swing low into possible support near $150.12. A continued downtrend might run into the weekly gap near $144.26.

Some bears might add more shorts near $195.87, although a push to $210.66 is reasonable. A daily candle close over the swing high near $230.04 could suggest that a longer-term trend reversal is in play, with bulls possibly entering on a retracement near $245.32 for monthly high prices.

3. Polygon (MATIC)

MATIC Price Analysis

At the time of writing, MATIC is ranked the 14^th cryptocurrency globally and the current price is US$2.18. Let’s take a look at the chart below for price analysis:

Source: TradingView

Q4 2021 marked a turning point for MATIC, with the price rocketing up almost 125% from its lows to probable resistance beginning near $2.45.

The price is currently struggling with the area between $1.88 and $2.23. This region could provide support after a close above, or resistance after a close below.

A retracement could reach into the daily gap and possible support around $2.08. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $1.92, and the potential support just below that begins around $1.85.

Continuation to the upside will likely target the recent monthly highs near $2.30. However, probable resistance beginning at $2.36 and $2.42 could cap or slow down this move.

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Top 3 Coins to Watch Today: GALA, LUNA, CAKE – December 16 Trading Analysis

Post author By Malik Junaid
Post date December 16, 2021

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

1. 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 the fact that 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 into games by giving players control of the games and in-game assets with the help of blockchain technology.

GALA Price Analysis

At the time of writing, GALA is ranked the 40^th cryptocurrency globally and the current price is US$0.4888. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low in late October, GALA kicked off a bullish trend that rallied nearly 585% by November to break the new all-time highs.

The following 55% plummet found support near $0.4566, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $0.4830.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $0.5012, where aggressive bulls might begin bidding. The level near $0.5340, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $0.5780.

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $0.4231 could provide at least a short-term bounce. If this level fails, the old highs near $0.3950 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Terra (LUNA)

Terra LUNA is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin, and offers fast and affordable settlements. Terra’s native token, LUNA, is used to stabilise the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

LUNA Price Analysis

At the time of writing, LUNA is ranked the 12^th cryptocurrency globally and the current price is US$56.16. Let’s take a look at the chart below for price analysis:

Source: TradingView

After breaking its all-time highs last week, LUNA began a range that has been whiplashing both bulls and bears.

Resistance beginning near $75.23 held the price down for the monthly opening, although bulls have shown some strength near the 9 and 18 EMAs.

A quick drop to $52.37, or into the zone beginning near $48.87, could give bulls the fuel to push through the nearby resistance. If this resistance breaks, the high near $60.47 provides a reasonable target.

A break of this level could move further into uncharted territory with the nearest probable resistances projected around $65.28 and $70.57.

More patient bulls might be waiting far below the 40 EMA with bids close to the higher-timeframe range’s 61.8% retracement, near $45.59.

3. PancakeSwap (CAKE)

PancakeSwap CAKE is an automated market maker (AMM) – a decentralised finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. PancakeSwap uses an automated market maker model where users trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return. PancakeSwap allows users to trade BEP20 tokens, provide liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE, and stake CAKE to earn tokens of other projects.

CAKE Price Analysis

At the time of writing, CAKE is ranked the 48^th cryptocurrency globally and the current price is US$12.22. Let’s take a look at the chart below for price analysis:

Source: TradingView

CAKE‘s 70% decline after August created relatively equal lows near $10.56 before bouncing over the local range’s midpoint near $13.60. A bullish altcoin market could help CAKE bulls regain a stronger bullish trend.

Aggressive bulls could look for entries in the daily gap starting near $11.27. The monthly open aligns with more probable support near $10.74.

A stop run below the monthly open near $9.62 might provide a more favourable entry. A more substantial bearish move – perhaps from a sharp drop in Bitcoin’s price – could challenge support near $8.90, just above the equal lows.

Resistance rests just above, with the zone from $14.59 to $18.26 likely to provide a short-term ceiling. A break through this level might target resistance just under the cluster of relatively equal highs near $21.47.

Beyond these highs, resistance near $23.15 provides a final challenge before attacking an old daily swing high near $25.86.

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VOXEL Pumps +1650% in a Single Day After Listing on Binance Launchpad

Post author By Malik Junaid
Post date December 15, 2021

VOXEL is trading in an uptrend and pumped up to +1650% in a single day after listing on Binance Launchpad, surging +1875% in a week.

What is Voxies?

Voxies VOXEL is a free-to-play, 3D turn-based tactical RPG game on blockchain. The main gameplay of Voxies is similar to a traditional RPG and tactical game, but it is powered by blockchain technology and ownership is central to the core concepts of the game. As a team-based tactical game, players can control multiple characters in the game and each character can be represented by Voxies that are directly owned as NFTs, or provided by the game for free-to-play players.

VOXEL Price Analysis

At the time of writing, VOXEL is ranked the 2530^th cryptocurrency globally and the current price is US$3.68. Let’s take a look at the chart below for price analysis:

Source: TradingView

After the launch of VOXEL on Binance Launchpad, it pumped up to $4.15 having +1650% gains in just a few minutes, and the initial opening price of VOXEL was $0.2530 at Binance Exchange with many different trading pairs such as VOXEL/BTC, VOXEL/USDT, and VOXEL/BUSD.

Currently, VOXEL is trading at $3.65 price levels after breaking out the squeeze resistance in its sideways trend and is now heading towards its all-time high price.

What Do the Technical Indicators Say?

The VOXEL TradingView indicators (on the 1-day) mainly indicate VOXEL as a Strong Buy, except the Oscillators which indicate VOXEL as a Neutral.

So Why Did VOXEL Break Out?

Recent news was announced regarding the VOXEL token sale on Binance launchpad.

Subscription for the @VoxiesNFT $VOXEL token sale on #Binance launchpad is now open and will remain open for 3 hours.

➡️ https://t.co/Dfq7ttd2sp pic.twitter.com/cnzvpuw5Ce
— Binance (@binance) December 14, 2021

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Where to Buy or Trade VOXEL?

VOXEL has the highest liquidity on Binance Exchange, so that would help for trading VOXEL/BTC or VOXEL/USDT pairs. You can also buy VOXEL from different exchanges listed on CoinMarketCap.

Crypto News Market Analysis Stellar Trading

Top 3 Coins to Watch Today: XLM, DOT, ATOM – December 15 Trading Analysis

Post author By Malik Junaid
Post date December 15, 2021

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

1. Stellar (XLM)

Stellar XLM is an open network that allows money to be moved and stored. When it was released, the goal 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 25^th cryptocurrency globally and the current price is US$0.2607. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM set a high near $0.7257 in May before retracing nearly 80% to find a low near $0.2480. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near $0.3678 is slowing the bullish advance down. However, another leg might target the last swing high at $0.4122 and relatively equal highs at $0.4436. Resistance near $0.4759 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near $0.5049.

A retracement before a move higher might find support in the daily gap near $0.2723, just above the monthly open. Relatively equal lows near $0.2575 could also provide support. A run-on stops at $0.2416 and $0.2331 might find support in the gap beginning near $0.2146 or a high-timeframe level near $0.1973.

2. 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 10^th cryptocurrency globally and the current price is US$25.95. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT consolidates between $25.44 and $35.70 at the 100% extension of September’s consolidation after a sharp move up through all-time during November.

The current consolidation could provide support if the price breaks the zone’s high near $35.51. A better risk-to-reward entry could present itself near the daily candle bodies of the last swing high near $29.37, which also has confluence with the 18 EMA and the 61.8% retracement. This potential drop could reach to possibly support the August open and 78.6% retracement, near $23.68.

A sharper downturn in the market could send the price as low as $22.89, near the last significant swing high in this leg, although a move this low could signal the start of a bearish trend.

Extensions from September’s consolidation indicate that the 150% extension, near $41.70, and the 200% extension, near $49.62, could be the next significant targets.

3. Cosmos (ATOM)

Cosmos ATOM bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.

ATOM Price Analysis

At the time of writing, ATOM is ranked the 35^th cryptocurrency globally and the current price is US$21.61. Let’s take a look at the chart below for price analysis:

Source: TradingView

Q3 provided respectable 198% gains for bulls who bought ATOM at the monthly open, with the price finding resistance near $30.12.

If bulls take back control this month, the top of the former gap beginning at $20.44 may provide support for at least a short-term bounce. The top of the consolidation range starting near $18.58 is more likely to provide substantial support.

The most robust support is likely to be found in the overlapping consolidation ranges between $17.74 and $16.06, with a sharp slice through these levels possibly suggesting the end of the bull run.

The region from approximately $27.70 to the most recent swing high is likely to provide some resistance. The swing high provides a reasonable first target for a possible next leg up.

If this high breaks, the 1.0 extension near $32.21 and the 2.0 extension near $38.90 may provide the next primary targets.

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