Dogecoin is trading in an active uptrend and strong trading volume today. The cryptocurrency gained over +45% in a single day by breaking a falling wedge pattern with strong buying volume on multiple exchanges and surged over +70% in a week.
Let’s take a quick look at the Dogecoin price analysis and possible reasons for the recent breakout.
What is Dogecoin?
Dogecoin DOGE is based on the popular “Doge” internet meme and features a Shiba Inu as its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, lighthearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme.
DOGE Price Analysis
At the time of writing, DOGE is ranked the 9th cryptocurrency globally and the current price is US$0.2154. Let’s take a look at the chart below for price analysis:
After looking at the above 15-M candle chart, we can clearly see that Dogecoin was trading inside the falling wedge pattern on the DOGE/USDT pair. The first resistance was on the $0.1733 price level, which DOGE broke with a strong bullish trend buying volume and is now heading towards the recent high price at $0.2560. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, DOGE may continue to increase in the uptrend if traders keep buying with high volume.
“The falling wedge pattern is characterised by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam.”
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying DOGE for the coming Altcoins rally. A recent tweet was also posted by Elon Musk regarding Tesla to make some merch buyable with Dogecoin:
Tesla will make some merch buyable with Doge & see how it goes
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade DOGE?
Dogecoin has the highest liquidity on Binance Exchange, so that would help for trading DOGE/BTC or DOGE/USDT pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
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. Altura (ALU)
Altura ALU is a smart contract platform that allows game developers to mint, distribute and transact Smart NFTs representing in-game items. Smart NFTs are NFTs with dynamic properties that can change based on certain conditions. They are the next step to making decentralised in-game items mainstream and offer a massive range of potential opportunities that are not possible with traditional NFTs. We want to create an easy-to-use interface and API for creating Smart NFTs, an open marketplace for transacting NFTs using the Altura token, and we want to introduce truly random smart loot boxes to the blockchain.
ALU Price Analysis
At the time of writing, ALU is ranked the 297th cryptocurrency globally and the current price is US$0.1299. Let’s take a look at the chart below for price analysis:
ALU‘s parabolic 1,240% rally ended three weeks after it began, then retraced over 76% from its highs.
The price had a slight bounce at the lower end of the daily consolidation, near $0.1118 and the 78.6% retracement of Q4’s rally. It remains to be seen if this price can continue to provide support in the face of the current bearish market conditions.
The 9 EMA near $0.1708 may offer some resistance. If the price breaks through this level, it could reach a zone near the 18 EMA and swing low, from $0.2078 to $0.2279. Any reclaim of this level will likely encounter strong resistance near $0.2712.
A broad zone from $0.0892 to $0.0467 could offer support and mark a bottom. Inside this zone, a more narrow range from $0.0748 to $0.0594 might provide more sensitivity. Today’s token utility update may increase buying pressure, which also increases the odds of longer-term bullish reversal as the price approaches this zone.
Should the price break through this level, the consolidation lows near $0.0339 may be the bearish target. However, a lack of apparent higher-timeframe support reduces the odds of picking the correct level for any longer-term bottom.
2. Litentry (LIT)
Litentry LIT is a decentralised identity authentication and user activity data management Infrastructure. Build on Substrate, Ready for Polkadot. Litentry is helping support change that is in favour of a user-centric network with the blockchain. Litentry includes an identity-based network and related tools, and features an identity matching and identity staking mechanism; as a whole it consists of decentralised identity and user activity data management infrastructure.
Litentry Price Analysis
At the time of writing, LIT is ranked the 466th cryptocurrency globally and the current price is US$2.78. Let’s take a look at the chart below for price analysis:
LIT has spent the second half of 2021 in a range. It spiked through this range’s high in late November before an aggressive move toward the range lows.
The price found support near $2.979, near the origin of a rally in early July, and created a week-long consolidation. However, the swing low that began October’s rally is just above, at $3.008, and is likely to provide resistance. It may cause further consolidation at the current area before a decisive break – perhaps lower as traders sell after the parachain crowdloan ends.
A break under the support near $2.979 might target the swing lows and possible support near $2.220. Below this level, there is little apparent higher-timeframe support.
If bulls appear, a break through the current resistance near the 9 EMA, around $3.008, might find resistance from $3.857 to $4.478.
A sustained bullish shift in the market could propel the price through December’s monthly open into probable resistance near the high at $5.909 and lows of early 2021’s consolidation near $6.832.
3. Secret (SCRT)
Secret SCRT is the native coin of the Secret Network, a decentralised network for private/secure computation. Nodes on the network (known as secret nodes) can perform generalisable computations over encrypted data, which allows smart contracts (known as secret contracts) to use private and sensitive data as inputs. Our focus is on computational privacy, not just transactional privacy. Developers can build decentralised, privacy-preserving “Secret Apps” on the network. The privacy functionality of the Secret Network is critical for many fields, including decentralised finance, Web3, machine learning, access control, and many more.
SCRT Price Analysis
At the time of writing, SCRT is ranked the 120th cryptocurrency globally and the current price is US$4.07. Let’s take a look at the chart below for price analysis:
SCRT‘s 1,344% rally from its July lows has retraced 63% and is entering higher-timeframe support.
An area from $4.3459 to $4.1072, near the low of Q4’s bullish leg and highs of early 2021’s consolidation, could provide some support.
However, relentless selling suggests that the price may continue dropping into a thinly traded area between $3.5274 and $2.674, which has confluence with the 78.6% retracement of the Q3-Q4 rally.
Any retracement upward might meet resistance near $5.4267, which has confluence with the 18 EMA and old resistance. Short-term excitement over the NFT marketplace launch could spark this bounce, then reverse as excitement fades after the event.
A stronger push through the probable resistance near $5.4267 could reach $7.3252, where the price consolidated over an old high. However, this may not happen until the next bullish cycle.
Close above, a zone beginning near $8.508 may provide some resistance, with more sensitivity near $9.1943.
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. You can also buy these coins from different exchanges listed on Coinmarketcap.
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. Flux (FLUX)
FLUX is the new generation of scalable decentralised cloud infrastructure. Simply develop, manage and spawn your applications on multiple servers at once. Ready for Web 3.0, DApps, and more, the Flux Ecosystem is a fully operational suite of decentralised computing services and blockchain-as-a-service solutions which offer an interoperable, decentralised, AWS-like development environment. Flux is a native GPU mineable POW (proof-of-work) coin providing incentive for hardware hosters, XDAO governance on-chain, and bad actor mitigation via staking requirements for running hardware.
FLUX Price Analysis
At the time of writing, FLUX is ranked the 157th cryptocurrency globally and the current price is US$1.82. Let’s take a look at the chart below for price analysis:
FLUX retraced nearly 45% from its recent all-time highs before finding a low yesterday. 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 $1.85, although a sweep of the stops near $1.80 could reach below the next swing low into possible support near $1.77. A continued downtrend might run into the weekly gap near $1.65.
Some bears might add more shorts near $2.25, although a push to $2.48 is reasonable. A daily candle close over the swing high near $2.70 could suggest that a longer-term trend reversal is in play, with bulls possibly entering on a retracement near $2.95 for new weekly high prices.
2. Hedera (HBAR)
Hedera Hashgraph HBAR is a public network that allows individuals and businesses to create powerful decentralised applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face, such as slow performance and instability. The HBAR token has a dual role within the Hedera public network.
HBAR Price Analysis
At the time of writing, HBAR is ranked the 39th cryptocurrency globally and the current price is US$0.2504. Let’s take a look at the chart below for price analysis:
HBAR‘s 109% September run retraced almost to its origin, narrowly missing probable support near $0.2395 before bears swatted down the bounce near resistance around $0.2589.
With the daily gap between $0.2312 and $0.2264 almost filled in a single wick, the price may not need to revisit areas below this level. However, the safer entry is still in probable support between $0.2145 and $0.1926, which would also sweep the lows of last week’s bounce.
The relatively equal highs near $0.2822 provide a likely first target on lower timeframes. However, the resistance beginning at $0.3135 may initially suppress a further move up.
A clean break through this resistance will need to contend with the next resistance near $0.3392, under the last swing high. This swing high at $0.3570 gives a reasonable take-profit area before a possible move to the 1.0 extension near $0.4065.
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 128th cryptocurrency globally and the current price is US$8.93. Let’s take a look at the chart below for price analysis:
DYDX consolidates between $11.42 and $8.35 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 $9.73. A stop run and swift rejection above $10.54 could provide a more favourable risk-to-reward entry for bears. An old 4h gap around $11.94 might cap this stop run.
Bulls will likely accumulate more long positions on a run below the relatively equal lows near $8.65. Little exists below the current range to identify precise support levels. However, the area between $8.12 and $7.69 could also give support during a deeper stop run.
If the price does break out decisively to the upside, the swing high at $12.70 provides a reasonable target. The highs and daily resistance levels between $13.47 and $15.32 may provide a second target.
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
CLV is trading in an uptrend, like many other Altcoins. The cryptocurrency CLV gained over +65% in a single day by breaking a falling wedge pattern with strong buying volume on multiple exchanges and surged over +85% in a week.
What is Clover Finance?
Clover CLV is a Polkadot parachain, committed to providing easy-to-use blockchain infrastructure and creating a one-stop EVM-compatible framework for substrate-based applications. The CLV token is used to pay for Clover transactions and to vote for network upgrades. Clover also aims to enable interoperability between Bitcoin and other blockchains.
CLV Price Analysis
At the time of writing, CLV is ranked the 290th cryptocurrency globally and the current price is US$1.03. Let’s take a look at the chart below for price analysis:
After looking at the above 4-Hour candle chart, we can clearly see that CLV was trading inside the falling wedge pattern on the CLV/USDT pair. The first resistance was on the $0.87 price level, which CLV broke with a strong bullish trend buying volume and is now heading towards the recent high price at $1.35. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, CLV may continue to increase in the uptrend if traders keep buying with high volume.
“The falling wedge pattern is characterised by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam.”
What Do the Technical Indicators Say?
The CLV TradingView indicators (on the 1-day) mainly indicate CLV as a Buy, except the Oscillators which indicate CLV as a Neutral.
So Why Did CLV Break Out?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying CLV for the coming Altcoins rally. Recent news was also announced regarding Clover’s partnership with Realy Metaverse.
🔥Clover are pleased to announce our partnership with @RealyOfficial
Like @Meta said, REALY is changing the fashion game in the metaverse — and we look forward to bringing the incredible REALY Metaverse first to Clover users!
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade CLV?
CLV has the highest liquidity on Binance Exchange, so that would help for trading CLV/BTC or CLV/USDT pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
FLUX is trading in an uptrend, like many other Altcoins. The cryptocurrency FLUX just pumped upto +420% in a single day by breaking a falling wedge pattern with strong buying volume on multiple exchanges and surges over +485% in a week.
What is FLUX?
FLUX is the new generation of scalable decentralised cloud infrastructure. Simply develop, manage, and spawn your applications on multiple servers at once. Ready for Web 3.0, Dapps, and more. The Flux Ecosystem is a fully-operational suite of decentralised computing services and blockchain-as-a-service solutions which offer an interoperable, decentralised, AWS-like development environment. Flux a native GPU mineable POW (Proof of Work) coin providing incentive for hardware hosters, XDAO governance on-chain, and bad actor mitigation via staking requirements for running hardware.
FLUX Price Analysis
At the time of writing, FLUX is ranked the 130th cryptocurrency globally and the current price is US$2.52. Let’s take a look at the chart below for price analysis:
After looking at the above 4-Hour candle chart, we can clearly see that FLUX was trading inside the falling wedge pattern on the FLUX/USDT pair. The first resistance was on the $1.40 price level, which FLUX broke with a strong bullish trend buying volume and is now heading towards the recent high price at $3.35. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, FLUX may continue to increase in the uptrend if traders keep buying with high volume.
“The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam.”
What Do the Technical Indicators Say?
The FLUX TradingView indicators (on the 1-day) mainly indicate FLUX as a Strong Buy, except the Oscillators which indicate FLUX as a Neutral.
So Why Did FLUX Break Out?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying FLUX for the coming Altcoins rally. Recent news was also announced regarding FLUX Listing on Binance with different trading pairs.
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade FLUX?
FLUX has the highest liquidity on Binance Exchange, so that would help for trading FLUX/BTC or FLUX/USDT pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. You can also buy FLUX from different exchanges listed on Coinmarketcap.
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:
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:
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:
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.
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
MDT is trading in an uptrend, like many other Altcoins. The cryptocurrency MDT just went up +90% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +115% in a week.
What is MDT?
Measurable Data Token MDT aims to provide a blockchain-based data economy, where data providers and data buyers can exchange data securely and anonymously. Measurable AI, MDT’s data analytics branch, is an alternative data provider that turns anonymous transactional data into consumer insights serving financial institutions and corporates. The MDT token is an ERC-20 token, used as the medium of exchange for data product access and user reward programs.
MDT Price Analysis
At the time of writing, MDT is ranked the 560th cryptocurrency globally and the current price is US$0.09285. Let’s take a look at the chart below for price analysis:
After looking at the above 1-Day candle chart, we can clearly see that MDT was trading inside the rising wedge pattern on the MDT/USDT pair. The first resistance was on the $0.07235 price level, which MDT broke with a strong bullish trend buying volume and is now heading towards the recent high price at $0.09827. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, MDT may continue to increase in the uptrend if traders keep buying with high volume.
“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”
What Do the Technical Indicators Say?
The MDT TradingView indicators (on the 1-day) mainly indicate MDT as a Buy, except the Oscillators which indicate MDT as a Neutral.
So Why Did MDT Break Out?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying MDT for the coming Altcoins rally. Recent news was also announced regarding MDT listing on CoinBase Pro.
$MDT on CoinBase Pro! When MDT was starting, exactly this time four years ago, we envisioned a future where data monetization is ubiquitous for everyone. Today we are already working steadfastly to propel this mission with a number of exciting projects! https://t.co/Sj3AwUMGnf
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade MDT?
MDT has the highest liquidity on Binance Exchange, so that would help for trading MDT/BTC or MDT/USDT pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. You can also buy MDT from different exchanges listed on Coinmarketcap.
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. 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 18th cryptocurrency globally and the current price is US$165.15. Let’s take a look at the chart below for price analysis:
After setting a low in late September, LTC kicked off a bullish trend that rallied nearly 85% by November to break the monthly highs.
The following 50% plummet found support near $150.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $162.43.
This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $175.12, where aggressive bulls might begin bidding. The level near $180.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $198.05.
However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $145.18 could provide at least a short-term bounce. If this level fails, the old highs near $138.44 might also give support and see the start of a new bullish cycle after retesting these support levels.
2. Oasis Network (ROSE)
The Oasis Network ROSE is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market. Its unique privacy features can not only redefine DeFi but also create a new type of digital asset called Tokenised Data that can enable users to take control of the data they generate and earn rewards for staking it with applications – creating the first-ever responsible data economy.
ROSE Price Analysis
At the time of writing, ROSE is ranked the 98th cryptocurrency globally and the current price is US$0.2549. Let’s take a look at the chart below for price analysis:
ROSE has dropped nearly 78% since late November and found a low in early December, with price action now trending upward through a higher-timeframe range.
The area beginning near $0.3046 has provided strong resistance and may do so again. However, relatively equal highs near $0.3512 offer a tempting target for bulls. A run of these highs may reach up into the daily gap near $0.3814.
Aggressive bulls might add to their positions near $0.2478. If the price breaks through this level, it may be reaching for the cluster of swing lows near $0.2254 and $0.2015. A more substantial move down may run stops below the relatively equal monthly lows, around $0.1866, into the daily gap at this level.
3. Elrond (EGLD)
Elrond EGLD is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralised finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. The blockchain has a native token known as eGold, or EGLD, that is used for paying network fees, staking, and rewarding validators.
EGLD Price Analysis
At the time of writing, EGLD is ranked the 30th cryptocurrency globally and the current price is US$294.41. Let’s take a look at the chart below for price analysis:
EGLD‘s 65% retracement from its Novembers highs set a low near $285.23 during its consolidation that began in early December.
Relatively equal highs near $312.44 could be the current target if the price breaks through resistance beginning near $322.50. Bullish continuation might reach through the next significant swing high near $330.71 into the daily gap near $335.16,
If bullish strength continues, the zones just below the monthly open near $344.69 and $359.87 could halt any retracement.
A bearish shift in the market might seek the relatively equal lows near $278.19 into possible support near $370.43 If this down move occurs, the swing low near $361.22 and possible support near $349.70 may be the primary objective.
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
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 blockchain, but rather the previously mentioned distributed ledger database.
XRP Price Analysis
At the time of writing, XRP is ranked the 8th cryptocurrency globally and the current price is US$0.8273. Let’s take a look at the chart below for price analysis:
XRP‘s 87% climb during Q3 returned to the monthly open, sweeping lows several times down to $0.8222. Last week, the price bounced from the monthly open near $0.7743 again, creating possible support near $0.7650. A quick sweep of this recent swing low could reach into a support area near $0.8012, while a sharp downturn in the market is likely to run for the relatively equal lows near $0.7925.
If the price breaks through the closest significant resistance near $0.8756, the swing high at $0.9034 is a likely target. This move could reach the daily gap near $0.9563.
Strong bullish momentum could propel the price to resistance near $0.9877. If this move occurs, the significant swing high near $1.12 provides a reasonable goal.
2. Raydium (RAY)
Raydium RAY is an automated market maker AMM and liquidity provider built on the Solana blockchain for the Serum decentralised exchange DEX. Unlike any other AMMs, Raydium provides on-chain liquidity to a central limit orderbook, meaning that funds deposited into Raydium are converted into limit orders that sit on Serum’s orderbooks. This gives Raydium LPs access to all of Serum’s order flow, as well as their existing liquidity.
RAY Price Analysis
At the time of writing, RAY is ranked the 119th cryptocurrency globally and the current price is US$8.96. Let’s take a look at the chart below for price analysis:
Mid-October marked a turning point for RAY, with the price rocketing up almost 85% from its lows to probable resistance beginning near $14.78.
The price is currently struggling with the area between $8.75 and $10.39. 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 $8.65. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $8.12, and the potential support just below that begins around $6.53.
Continuation to the upside will likely target the monthly high near $9.95. However, probable resistance beginning at $10.58 and $11.82 could cap or slow down this move.
3. 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 12th cryptocurrency globally and the current price is US$93.04. Let’s take a look at the chart below for price analysis:
AVAX has continued its rally through the daily gap between $85.45 and $92.25, turning this region into an area of possible support.
However, a stop run under the relatively equal lows at $87.34 could form a wick below this level, potentially reaching an untapped daily gap beginning near $79.14.
Resistance starting at $112.32 has seen significant profit-taking, shown by the long upper wicks on the daily candles. A break of this resistance may reach the next significant new swing high at $125.46, continue into probable resistance just above, and possibly set new monthly highs at $133.12.
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
IDEX is trading in an uptrend, like many other Altcoins. The cryptocurrency IDEX just went up +85% in a single day by breaking a bullish pennant pattern with strong buying volume on multiple exchanges and surges over +97% in a week.
What is IDEX?
IDEX claims to be the first hybrid liquidity DEX that combines an order book model with an automated market maker. It blends the performance and features of a traditional order book model with the security and liquidity of an AMM. Idex takes an innovative approach to decentralised exchanges by combining an off-chain trading engine with on-chain trade settlement. Users benefit from that in several ways.
IDEX Price Analysis
At the time of writing, IDEX is ranked the 280th cryptocurrency globally and the current price is US$0.4125. Let’s take a look at the chart below for price analysis:
After looking at the above 1-hour candle chart, we can clearly see that IDEX was trading inside the bullish pennant pattern on the IDEX/USDT pair. The first resistance was on the $0.3255 price level, which IDEX broke with a strong bullish trend buying volume and is now heading towards the recent high price at $0.4652. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, IDEX may continue to increase in the uptrend if traders keep buying with high volume.
“A bullish pennant is a technical trading pattern that indicates the impending continuation of a strong upward price move. They’re formed when a market makes an extensive move higher, then pauses and consolidates between converging support and resistance lines.”
What Do the Technical Indicators Say?
The IDEX TradingView indicators (on the 1-day) mainly indicate IDEX as a Strong Buy, except the Oscillators which indicate IDEX as a Buy.
So Why Did IDEX Break Out?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying IDEX for the coming Altcoins rally. Recent news was also announced regarding a new listing on Huobi Crypto Exchange.
Duration: 6-week course From: November 15 to December 22 Date/Time: Twice a week, Mon and Wed at 7pm AEST Location: Zoom webinar
Where to Buy or Trade IDEX?
IDEX has the highest liquidity on Binance Exchange, so that would help for trading IDEX/BTC or IDEX/USDT pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
