Category: Trading

Categories
Crypto News Market Analysis Syscoin Trading

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

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

1. Alpha Finance (ALPHA)

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

ALPHA Price Analysis

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

Source: TradingView

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

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

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

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

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

2. Beldex (BDX)

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

BDX Price Analysis

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

Source: TradingView

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

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

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

3. Syscoin (SYS)

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

SYS Price Analysis

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

Source: TradingView

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

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

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

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

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

Learn How to Trade Live!

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.

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.

Categories
Cardano Crypto News Market Analysis Trading TRON

Top 3 Coins to Watch Today: TRX, ADA, HARD – December 6 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. Tron (TRX)

Tron TRX is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has a capacity for 2,000 TPS. This project is best described as a decentralised platform focused on content sharing and entertainment and to this end, one of its biggest acquisitions was the file-sharing service BitTorrent in 2018. Overall, TRON has divided its goals into six phases. These include delivering simple distributed file sharing, driving content creation through financial rewards.

TRX Price Analysis

At the time of writing, TRX is ranked the 22nd cryptocurrency globally and the current price is US$0.08607. Let’s take a look at the chart below for price analysis:

Source: TradingView

TRX accompanied the rest of the market in the mid-Q3 drop, falling nearly 63% from its mid-September high until it found a low late in October.

Price action in late November formed a weekly support level near $0.08654, which has so far held up the price. The most recent swing low inside this range, near $0.08439, might be the target for any future stop runs. After this low, the swing low near $0.08229 and the gap beginning near $0.07945 mark possible higher-timeframe support.

The price is currently battling with significant higher-timeframe resistance levels, with the closest probable resistance resting near $0.09422, just over the monthly open. A sweep of the relatively equal highs above this resistance might find sellers near $0.09755 – but could reach as high as $0.1083.

2. 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 6th 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 86% drop from its August highs found a low near $1.30 in late November 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 $1.45. A sustained bullish move may target the swing high at $1.58. If this stop run occurs, a run beyond the high into probable resistance near $1.64 and $1.70 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 $1.20 and $1.17 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $1.12 and $1.05.

3. Kava Lend (HARD)

Kava Lend HARD is a decentralised money market built on Kava, enabling the lending and borrowing of cross-chain assets. Kava Lend supports supply-side deposits for BTC, XRP, BNB, BUSD, and USDX. The platform will allow overcollateralised borrowing for supported assets. All HARD tokens distributed as rewards are locked by a smart contract. Users who claim HARD tokens with longer vesting schedules will receive more tokens. The exact options for token redemptions are subject to governance voting.

HARD Price Analysis

At the time of writing, HARD is ranked the 495th cryptocurrency globally and the current price is US$0.9164. Let’s take a look at the chart below for price analysis:

Source: TradingView

HARD‘s 55% drop from August to October might have found a range low near $0.7933. The recent break and continuation through the short-term highs near $0.9044 and $0.9821 suggest some bullish strength.

Bulls are likely to take some profits near the high end of the current range. The areas near $1.10 and $1.18 offer some confluence for resistance. The swing high near $1.23 might be the current target, followed by possible continuation up to $1.26 and into resistance near $1.30.

Aggressive bulls might bid near the last high and daily gap around $0.9244. However, a drop to possible support around $0.8465 is reasonable. A market-wide retracement could send the price down to sweep relatively equal lows near $0.8033. If this stop run occurs, the price could find support between $0.7543 and $0.7122.

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.

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.

Categories
Crypto News Market Analysis Trading Waves

Top 3 Coins to Watch Today: MATIC, SAND, WAVES – December 3 Trading Analysis

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

1. 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 15th cryptocurrency globally and the current price is US$2.08. Let’s take a look at the chart below for price analysis:

Source: TradingView

October marked a turning point for MATIC, with the price rocketing up almost 80% from its lows to probable resistance beginning near $2.21.

The price is currently struggling with the area between $1.88 and $2.10. 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 $1.85. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $1.74, and the potential support just below that begins around $1.60.

Continuation to the upside will likely target the recent monthly highs near $2.25. However, probable resistance beginning at $2.10 and $2.18 could cap or slow down this move.

2. 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 39th cryptocurrency globally and the current price is US$6.30. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since November’s high, SAND‘s 59% 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 $5.90 and $5.45 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce. 

Long-term consolidation suggests that the areas near $6.84 and $7.27 may be more likely to cause a longer-term trend reversal. 

Bears are likely to add to their shorts at probable resistance beginning near $6.54, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $7.05, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $7.79 might provide a ceiling for this impulse.

3. 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 70th cryptocurrency globally and the current price is US$21.53. Let’s take a look at the chart below for price analysis:

Source: TradingView

During November’s high, WAVES‘ 45% 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 $19.78 and $18.30 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce. 

Long-term consolidation suggests that the areas near $26.45 and $28.61 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.

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.

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.

Categories
Crypto News Market Analysis Solana Trading

Top 3 Coins to Watch Today: SOL, LUNA, MASK – December 2 Trading Analysis

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

1. 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 5th cryptocurrency globally and the current price is US$227.24. Let’s take a look at the chart below for price analysis:

Source: TradingView

SOL retraced nearly 45% from its high before finding a low during mid-November. 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 $218.44, although a sweep of the stops near $205.61 could reach below the next swing low into possible support near $188.12. A continued downtrend might run into the weekly gap near $176.26.

Some bears might add more shorts near $220.87, although a push to $238.66 is reasonable. A daily candle close over the swing high near $250.04 could suggest that a longer-term trend reversal is in play, with bulls possibly entering on a retracement near $276.32 for new high prices.

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 13th cryptocurrency globally and the current price is US$62.57. Let’s take a look at the chart below for price analysis:

Source: TradingView

After breaking its November highs,  LUNA began a range that has been whiplashing both bulls and bears.

Resistance beginning near $68.35 held the price down for the December monthly opening, although bulls have shown some strength near the 9 and 18 EMAs. 

A quick drop to $60.37, or into the zone beginning near $57.87, could give bulls the fuel to push through the nearby resistance. If this resistance breaks, the high near $66.47 provides a reasonable target. 

A break of this level could move further into uncharted territory with the nearest probable resistances projected around $72.28 and $75.57.

More patient bulls might be waiting far below the 40 EMA with bids near the higher-timeframe range’s 61.8% retracement, near $49.59.

3. Mask Network (MASK)

Mask Network MASK is a protocol that allows its users to send encrypted messages over Twitter and Facebook. It essentially acts as a bridge between the internet and a decentralised network running on top. Mask Network offers the ability to fund Gitcoin grant campaigns directly from Twitter, and plans to offer peer-to-peer payments and decentralised storage functionality. It is a decentralised portal that also allows users to use DApps like crypto payments, decentralised finance, decentralised storage, e-commerce, digital goods, NFTs, and decentralised organisations (DAOs) over the top of existing social networks without migrating, creating what is referred to as a decentralised Applet (DApplet) ecosystem.

MASK Price Analysis

At the time of writing, MASK is ranked the 250th cryptocurrency globally and the current price is US$15.97. Let’s take a look at the chart below for price analysis:

Source: TradingView

MASK has retraced 58% of its over 120% rally that began in November.

A large bearish daily candle found support at the 40 EMA in a daily gap, near $13.20, before retracing to its opening price, near $14.36. 

The 9 and 18 EMAs near the opening price might provide support if the uptrend resumes. The recent swing low, near $12.87, could also offer support again. 

Some charts showed the price rallying into possible resistance near $19.26 on November 27. If genuine and sustained, this resistance could flip to support for a further rally into resistance near $20.18 and $21.56.

If the price reaches beyond these levels, it will enter discovery, perhaps drawing toward possible resistance near $25.44.

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.

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.

Categories
Bitcoin Cash Crypto News Market Analysis Stellar Trading Zcash

Top 3 Coins to Watch Today: BCH, XLM, ZEC – December 1 Trading Analysis

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

1. Bitcoin Cash (BCH)

Bitcoin Cash BCH is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy, and high transaction capacity (big blocks). In the same way that physical money, such as a dollar bill, is handed directly to the payee, Bitcoin Cash payments are sent directly from one person to another. As a permissionless, decentralised cryptocurrency, Bitcoin Cash requires no trusted third parties and no central bank. Unlike traditional fiat money, Bitcoin Cash does not depend on monetary middlemen such as banks and payment processors.

BCH Price Analysis

At the time of writing, BCH is ranked the 22nd cryptocurrency globally and the current price is US$581.04. Let’s take a look at the chart below for price analysis:

Source: TradingView

October marked a turning point for BCH, with the price rocketing up almost 70% from its lows to probable resistance beginning near $716.22.

The price is currently struggling with the area between $615.43 and $465.76. 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 $534.33. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $510.21, and the potential support just below that begins around $490.64.

Continuation to the upside will likely target the monthly high near $612.30. However, probable resistance beginning at $648.55 and $692.05 could cap or slow down this move.

2. 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 25th cryptocurrency globally and the current price is US$0.3457. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM set a high near $0.7197 in May before retracing nearly 85% to find a low near $0.2544. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near $0.3778 is slowing the bullish advance down. However, another leg might target the last swing high at $0.4082 and relatively equal highs at $0.4534. Resistance near $0.4859 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near $0.5149.

A retracement before a move higher might find support in the daily gap near $0.2923, just above the monthly open. Relatively equal lows near $0.2775 could also provide support. A run-on stops at $0.2616 and $0.2531 might find support in the gap beginning near $0.2426 or a high-timeframe level near $0.2285.

3. Zcash (ZEC)

Zcash ZEC is a decentralised cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions. Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent.

ZEC Price Analysis

At the time of writing, ZEC is ranked the 60th cryptocurrency globally and the current price is US$224.28. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZEC‘s recent bearish flip of the 9, 18 and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near $215.87 and $205.96 – 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 $190.45 and $176.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $243.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $258.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $270.41 might provide a ceiling for this impulse.

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.

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.

Categories
Binance Coin Crypto News Market Analysis Trading

Top 3 Coins to Watch Today: BNB, ONE, XDC – November 30 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. 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 3rd cryptocurrency globally and the current price is US$614.81. Let’s take a look at the chart below for price analysis:

Source: TradingView

One of the first coins to set its low during the May crash, BNB has since rallied over 215%. The price has rejected strong resistance near $661.70, with $622.70 marking a slightly weaker area of higher-timeframe resistance that could become relevant in the coming weeks.

However, an area of old consolidation near $573.00 has continued to provide support. Each time the price drives into this level, it forms a higher low. This zone could again provide support and has confluence with the 40 EMA.

A steeper retracement – perhaps caused by a bearish continuation in Bitcoin – could drive into an area of possible support between $509.90 and $463.90. This zone is just above the 61.8% retracement level and overlaps with old equal highs.

A more prolonged downtrend could reach possible support between $430.50 to $393.80, near the 78.6% retracement level and multiple old consolidations.

If the price can break through the current resistance, it could continue to an area between $850.00 and $920.00, where extensions suggest bulls might take significant profits.

2. Harmony (ONE)

Harmony ONE is a blockchain platform designed to facilitate the creation and use of decentralised applications (DApps). The network aims to innovate the way decentralised applications work by focusing on random state sharding, which allows creating blocks in seconds. Harmony is expected to introduce cross-shard contracts and a cross-chain infrastructure by the end of 2021.

ONE Price Analysis

At the time of writing, ONE is ranked the 60th cryptocurrency globally and the current price is US$0.2622. Let’s take a look at the chart below for price analysis:

Source: TradingView

ONE‘s rally, beginning in late June, stretched over 707% as the price explored new territory.

Resistance has formed near $0.3415 and between $0.2871 and $0.3095. With an uncertain market and traders potentially selling the cross-shard transaction news (or an announcement of its delay), these areas could continue to provide resistance and perhaps prompt a steeper move downward.

The March highs, overlapping with the last major leg’s 61.8% and 78.6% retracements (from $0.2167 to $0.1720), could mark an area of support. Inside this zone, $0.2080 to $0.1766 could provide a more sensitive reaction. 

A more extended downtrend might reach possible support between $0.1489 and $0.1214, near the origin of the last significant bullish move.

On the other hand, if altcoins resume their bullish trends, the 27% extension near $0.4500 could be the next area of significant profit-taking by bulls.

3. XDC Network (XDC)

XinFin XDC is an enterprise-ready hybrid blockchain technology company optimised for international trade and finance. The XinFin network is powered by the native coin called XDC. XinFin mainnet token XDC also creates an opportunity to utilise XinFin’s real-world use-cases, such as TradeFinex.org, and helps small and medium businesses or institutions originate their own financial requirements in a digital, fully structured manner so that they can distribute them to the bank or non-bank funders themselves, using a common distribution standard.

XDC Price Analysis

At the time of writing, XDC is ranked the 99th cryptocurrency globally and the current price is US$0.09428. Let’s take a look at the chart below for price analysis:

Source: TradingView

XDC‘s volatile whipsaws finally met their match at resistance near $0.16210, an area that is likely to provide stiff resistance again on any retest.

Before the price reaches this level, higher-timeframe charts and multiple highs and lows suggest that $0.12560 could also provide resistance.

Currently, the price is settling on possible support near $0.09037. The 78.6% retracement around $0.08160 is more likely to see interest from the bulls if the market continues trending downward. 

Consolidation here could lead to the uptrend resuming and gain the attention of more bulls if the 8, 16, and 40 EMAs flip bullish.

A longer bearish shift in the overall crypto market could send the price to (or below) possible support near the May and June consolidation, around $0.06301. This area started the most recent bullish trend. Below this level, little exists on higher-timeframe charts to offer support.

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.

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.

Categories
Crypto News Market Analysis Siacoin Trading VeChain

Top 3 Coins to Watch Today: SC, VET, COCOS – November 29 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. Siacoin (SC)

Siacoin SC is the native utility token of Sia, a blockchain-based distributed, decentralised cloud storage platform. Sia acts as a secure, trustless marketplace for cloud storage in which users can lease access to their unused storage space. Agreements and transactions are enforced with smart contracts, and Siacoin is the medium of exchange for paying for storage on the network. The main goal of the project is to become the “backbone storage layer of the internet”.

SC Price Analysis

At the time of writing, SC is ranked the 94th cryptocurrency globally and the current price is US$0.02387. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 75% decline from September to October, SC has ranged between $0.01833 and $0.02575.

The recent rally is approaching probable resistance near $0.02740 but could be aiming for stops above the relatively equal highs near $0.02860. Continuation of the bullish move could target the daily gap near $0.03120.

Aggressive bulls might add to positions near $0.02150 and $0.02034. Price action near $0.01912 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $0.01844 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 $0.01695.

2. VeChain (VET)

VeChain VET is a blockchain-powered supply chain platform. VeChain aims to use distributed governance and Internet of Things (IoT) technology to create an ecosystem that solves some of the major problems with supply chain management. The platform uses two in-house tokens, VET and VTHO, to manage and create value based on its VeChainThor public blockchain. The idea is to boost the efficiency, traceability and transparency of supply chains while reducing costs and placing more control in the hands of individual users.

VET Price Analysis

At the time of writing, VET is ranked the 29th cryptocurrency globally and the current price is US$0.1105. Let’s take a look at the chart below for price analysis:

Source: TradingView

VET‘s 129% move during October ran into resistance near $0.1750, at the 27% extension of the Q2 swing.

An old high and the 18 EMA have provided support near $0.1259 and might give support again on a retest. This area also has confluence with the 50% and 61.8% retracements of November’s swing.

Just below, near $0.1029, the 61.8% retracement of the current Q4 swing might also mark an area of support.

If the market remains bearish, $0.08862 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.1711, at the 50% extension of the summer’s swing, could see some profit-taking if bulls break the current resistance near $0.1778. Above, old consolidations near $0.1832 and $0.1941 might also provide some resistance before another round of price discovery.

3. Cocos-BCX (COCOS)

Cocos-BCX COCOS is a public blockchain platform aiming to create a complete run-time environment for games with multi-game system compatibility, providing game developers with a user-friendly platform for blockchain game development; while it starts by merely using fungible tokens for the in-game economy, its final goal is to fully move onto a blockchain.

COCOS Price Analysis

At the time of writing, COCOS is ranked the 377th cryptocurrency globally and the current price is US$3.96. Let’s take a look at the chart below for price analysis:

Source: TradingView

Mid-November marked a turning point for COCOS, with the price rocketing up almost 425% from its lows to probable resistance beginning near $5.10.

The price is currently struggling with the area between $3.70 and $4.15. 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 $3.80. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $3.68, and the potential support just below that begins around $3.43.

Continuation to the upside will likely target the monthly high near $4.56. However, probable resistance beginning at $4.78 and $4.90 could cap or slow down this move.

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.

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.

Categories
Crypto News Dogecoin Market Analysis Mithril Trading

Top 3 Coins to Watch Today: DOGE, MANA, MITH – November 26 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. Dogecoin (DOGE)

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, light-hearted 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 10th cryptocurrency globally and the current price is US$0.2221. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOGE marines continue holding the price, printing nearly 35% gains during November.

The consolidation near $0.2435 is likely to provide support as the price continues exploring new highs. However, a set of relatively equal lows near $0.2159 provides a tempting target for a stop run into probable support near $0.2050.

A decidedly bearish shift in the market could reach probable support near $0.1980, near October’s monthly open.

Almost no resistance lies overhead, although low-timeframe traders can use the resistance below recent highs near $0.2847 as a first target. Beyond this level, extensions near $0.3067, $0.3252 and $0.3566 give reasonable higher-timeframe targets.

2. Decentraland (MANA)

Decentraland MANA defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetise content and applications. In this virtual world, users purchase plots of land that they can later navigate, build upon and monetise. Decentraland uses two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, names and more on the Decentraland marketplace.

MANA Price Analysis

At the time of writing, MANA is ranked the 23rd cryptocurrency globally and the current price is US$5.09. Let’s take a look at the chart below for price analysis:

Source: TradingView

Like many other altcoins, MANA set a new all-time high during mid-November before retracing 35% to the low at $4.35 last week.

Price broke through resistance near $4.86, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near $4.73. However, a drop this far increases the chances of a stop run to $4.60 and possibly into support near $4.55. For now, continuing bullish market conditions could help $4.90 become support.

The swing high around $5.15 gives bulls a reasonable first target, with $5.20 also likely to draw the price upward. Higher-timeframe resistance beginning near $5.25 or $5.30 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near new all-time highs near $5.40.

3. Mithril (MITH)

Mithril MITH is a decentralised social media platform on the Ethereum Blockchain that rewards users for creating content. The team plans to partner with existing social platforms to drive the adoption of its ERC-20 MITH token, which can reportedly be integrated with any social media platform. In addition to storing funds, the Mithril Vault wallet can be used for staking and swapping into other currencies.

MITH Price Analysis

At the time of writing, MITH is ranked the 494th cryptocurrency globally and the current price is US$0.09727. Let’s take a look at the chart below for price analysis:

Source: TradingView

During November high, MITH‘s 58% 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 $0.08522 and $0.08255 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce. 

Long-term consolidation suggests that the areas near $0.1137 and $0.1354 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $0.1523, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $0.1640, the start of the bearish move.

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.

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.

Categories
Crypto News Market Analysis Trading

Top 3 Coins to Watch Today: DOT, ALICE, IDEX – November 25 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 8th cryptocurrency globally and the current price is US$38.77. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT consolidates between $36.44 and $45.70 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 $37.51. A better risk-to-reward entry could present itself near the daily candle bodies of the last swing high near $35.67, which also has confluence with the 18 EMA and the 61.8% retracement. This potential drop could reach to possibly support the October open and 78.6% retracement, near $33.68.

A sharper downturn in the market could send the price as low as $29.89, 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 $46.70, and the 200% extension, near $55.62, could be the next significant targets.

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 124th cryptocurrency globally and the current price is US$26.90. Let’s take a look at the chart below for price analysis:

Source: TradingView

After accumulating under the November monthly open, ALICE rallied 112% in a week before retracing to support near $24.55. 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 $23.82. Two areas of support, beginning near $22.57 and $20.29, provide probable buys if the price dips this low.

The equal highs near $28.63 provide a first reasonable bullish target. If the price takes this target and penetrates the surrounding resistance, the next probable resistance begins near $30.66. Possible targets include the old highs just above this resistance near $32.83, $33.46 and $34.39.

3. Idex (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 an on-chain trade settlement. Users benefit from that in several ways. The instant trade execution means front-running or sandwich attacks are not possible and users can trade without waiting for previous trades to settle.

IDEX Price Analysis

At the time of writing, IDEX is ranked the 318th cryptocurrency globally and the current price is US$0.3986. Let’s take a look at the chart below for price analysis:

Source: TradingView

IDEX‘s 75% move from late October’s lows ran into resistance near $0.4022, at the 27% extension of the summer’s swing.

An old high and the 18 EMA have provided support near $0.3254 and may give support again on a retest. This area also has confluence with the 50% and 61.8% retracement of November’s swing.

Just below, near $0.3050, the 61.8% retracement of the current Q4 swing might also mark an area of support.

If the market remains bullish, $0.4390 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.4530, at the 50% extension of the summer’s swing, could see some profit-taking if bulls break the current resistance near $0.4812. Above, old consolidations near $0.5088 and $0.5361 may also provide some resistance before another round of price discovery.

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.

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.

Categories
Crypto News Ethereum Market Analysis Ripple Trading

Top 3 Coins to Watch Today: ETH, XRP, LUNA – November 24 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. 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 2nd cryptocurrency globally and the current price is US$4,326.81. 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 October after late September’s retracement, showing strength as BTC rallied. Currently, the price is hovering just under the all-time high as bulls take some profits.

Two swing highs and the 9 EMA could mark $4180.87 to $4026.72 as an area of possible support. A deeper retracement will likely find some buyers around the 61.8% retracement near $3867.59.

The all-time high will likely see some profit-taking, but the area near the 27% extension, at $4650.12, could also provide some resistance. The 61.8% extensions of the last two swings converge near $4820.54, which could be the target for an all-time high break before a new setup emerges.

2. Ripple (XRP)

Ripple XRP is the currency that runs on a digital payment platform called RippleNet, which is 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 7th cryptocurrency globally and the current price is US$1.05. Let’s take a look at the chart below for price analysis:

Source: TradingView

XRP‘s 87% climb during early August returned to the monthly open, sweeping lows several times down to $0.9233. Last week, the price bounced from the monthly open near $1.03 again, creating possible support near $1.10. A quick sweep of this recent swing low could reach into a support area near $0.9834, while a sharp downturn in the market is likely to run for the relatively equal lows near $0.9160.

If the price breaks through the closest significant resistance near $1.17, the swing high at $1.25 is a likely target. This move could reach the daily gap near $1.28.

Strong bullish momentum could propel the price to resistance near $1.3o. If this move occurs, the significant swing high near $1.33 provides a reasonable goal.

3. Terra (LUNA)

Terra LUNA is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its whitepaper, 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 14th cryptocurrency globally and the current price is US$42.01. Let’s take a look at the chart below for price analysis:

Source: TradingView

After breaking its October highs,  LUNA began a range that has been whiplashing both bulls and bears.

Resistance beginning near $49.35 held the price down for the second half of November, although bulls have shown some strength near the 9 and 18 EMAs. 

A quick drop to $40.37, or into the zone beginning near $44.87, could give bulls the fuel to push through the nearby resistance. If this resistance breaks, the high near $50.47 provides a reasonable target. 

A break of this level could move further into uncharted territory with the nearest probable resistances projected around $58.28 and $60.57.

More patient bulls might be waiting far below the 40 EMA with bids near the higher-timeframe range’s 61.8% retracement, near $35.59.

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.

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.