The bitcoin golden cross is a highly anticipated technical indicator that typical foreshadows bullish price action. Bitcoin analysts, investors and traders are looking closely at current price movements which at present suggest a strong push is imminent in the coming weeks.
#Bitcoin has crossed back above the 200-Day Moving Average and confirms a continuation of the long term bullish trend. The moving average crossover and potential upcoming golden cross are just two out of many technical indicators pointing towards #bullish things to come for $BTC.
According to Binance Academy, a golden cross is a chart pattern where a shorter-term moving average (MA) crosses above a longer-term moving average. This is typically considered to be a bullish signal.
A golden cross occurs in three phases:
There’s a downtrend where the shorter-term MA is below the longer-term MA.
The market reverses and the shorter-term MA crosses over the longer-term MA.
A continued uptrend starts and the shorter-term MA stays above the longer-term MA.
When considering a golden cross, the most commonly used moving averages are the 50- and 200-day periods. Once the crossover happens, the longer-term moving average is typically considered to be a strong area of support.
Golden cross example. Source: Binance Academy
The opposite of a golden cross is a death cross, where a shorter-term moving average crosses below a longer-term moving average. This is typically considered to be a bearish signal.
Potential Signs of Bitcoin Golden Cross
The chart below illustrates the potential intersection between the blue line (50-day MA) and black line (200-day MA), signalling a potential golden cross. Notice the inverse (death cross) that occurred towards the end of June highlighting a market crippled by fear.
Will US$50,000 Prove to Be a Strong Resistance Level?
Despite the bullish talk of golden crosses and positive on-chain metrics, others have been more circumspect suggesting that bitcoin first needs to overcome the psychological barrier of US$50,000.
At this point, momentum appears to have shifted towards the bulls. Well-known podcaster Scott Melker seems to think so too and offers some interesting insights into the current market dynamics.
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. 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 (DAO) and non-fungible tokens (NFTs), The Sandbox creates a decentralised platform for a thriving gaming community. The Sandbox platform’s main mission is to successfully introduce blockchain technology in mainstream gaming.
SAND Price Analysis
At the time of writing, SAND is ranked the 124th cryptocurrency globally and the current price is A$0.9314. Let’s take a look at the chart below for price analysis:
SAND’s 89% decline during July created relatively equal lows near A$0.3155 before bouncing over the local range’s midpoint near A$0.4812. A bullish altcoin market could help SAND bulls regain a stronger bullish trend.
Aggressive bulls could look for entries in the daily gap starting near A$0.8135. The May monthly open aligns with more probable support near A$0.7344.
A stop run below the monthly open near A$0.7122 might allow a more favourable entry. A more substantial bearish move – perhaps from a sharp drop in bitcoin’s price – could challenge support near A$0.6711, just above the equal lows.
Resistance rests just above, with the zone from A$0.9945 to A$1.08 likely to provide a short-term ceiling. A break through this level might target resistance just under the cluster of relatively equal highs near A$1.12.
Beyond these highs, resistance near A$1.22 provides a final challenge before attacking a new swing high near A$1.35.
2. StormX (STMX)
StormX STMX is one of the first global cryptocurrency-based solutions to reach worldwide markets. As a mobile app and browser extension, StormX aims to bring users cashback in crypto for most of their online purchases. With enterprise partners like Samsung, Nike and Lego, StormX also allows users to stake the native STMX token to boost their rewards. The company has already attracted investments from Blockfolio, Litecoin Foundation and Kyber Network. StormX has successfully developed its product and has become an industry leader in the crypto cashback community.
STMX Price Analysis
At the time of writing, STMX is ranked the 154th cryptocurrency globally and the current price is A$0.04069. Let’s take a look at the chart below for price analysis:
STMX continues to set new monthly highs in its chaotic upwards trend. Support might be found in the daily gap above the August monthly open near A$0.03555. A deeper retracement is likely to target the relatively equal lows into support near A$0.02968.
The daily gap near A$0.02714 could also provide support. However, another gap inside the down candles, around A$0.02574, provides the highest chances of solid support while offering a high risk-reward entry.
There is currently no resistance overhead since the price is in discovery. Extensions hint at the areas around A$0.04925 and A$0.05586 as reasonable take-profit zones.
3. OMG Network (OMG)
OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network. The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain.
OMG Price Analysis
At the time of writing, OMG is ranked the 104th cryptocurrency globally and the current price is A$7.36. Let’s take a look at the chart below for price analysis:
OMG holders endured a wild May as the price rallied over 118% before running the month’s lows. This stop run could set the stage for another rally. However, the recent volatility means bulls should be extra cautious with stop placement.
Bulls might find support around the current price near A$6.88. The next high probability support rests near A$5.45, below the last two swing lows. A move this deep could sweep July’s low into an area near A$4.88.
The price is currently struggling with resistance near A$7.85 at the June monthly open. A strong move into this resistance is likely to target the swing high near A$8.15.
Above this swing high, June’s monthly high at A$8.64 is the next likely target, which also marks another wide resistance zone. Volatility inside this resistance could tag an old monthly high at A$9.51.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
IOTX is trading in an uptrend, like many other Altcoins. The cryptocurrency IOTX just went up +215% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +395% in a week.
What is IOTX?
IoTeX IOTX has built a decentralised platform whose aim is to empower the open economics for machines in an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives. With a global team of more than 40 research scientists and engineers, IoTeX has built its EVM-compatible blockchain from scratch using the innovative Roll-DPoS consensus.
IOTX Price Analysis
At the time of writing, IOTX is ranked the 96th cryptocurrency globally and the current price is A$0.1133. 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 IOTX was trading inside the rising wedge pattern on the IOTX/USDT pair. The first resistance was on the A$0.04957 price level, which IOTX broke with a strong bullish trend buying volume and is now heading towards the all-time high price at A$0.1285. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery, IOTX may continue to increase in the uptrend if traders keep buying with high volume.
“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”
What Do the Technical Indicators Say?
TradingView indicators (on the one-day window) mainly suggest IOTX as a Strong Buy, except the Oscillators, which indicate IOTX as a Neutral.
So Why Did IOTX Breakout?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying IOTX for the next Altcoins rally. Recent news was also announced regarding Coinbase Pro listing IOTX on its exchange.
As the first Blockchain + IoT project on Coinbase, IoTeX will reach millions of new users. More game-changing ecosystem announcements are coming soon. Get ready for hyper-growth!
IOTX has high liquidity on the Binance exchange, which could help for trading IOTX/BTC or IOTX/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin from different exchanges listed on Coinmarketcap.
The evidence is mounting that bitcoin is likely to continue its recent upwards price momentum. In what is widely regarded as a bullish market signal for the asset, bitcoin has now risen above the 200-day simple moving average (MA), an indicator watched closely by investors to determine whether the asset is trending either bullish or bearish.
In advance, analysts were broadly in agreement that a daily close above bitcoin’s 200 MA was bullish.
#Bitcoin technical update: Robust price action with strong support at ~$42k.
Macro: Bullish To news: Acting well On-chain: Bullish
Opinion: Needs daily close above 200-day MA ($44,982) to officially regain momentum traders. Wall of money on sidelines since Apr starting to enter pic.twitter.com/td6XMT1Xp6
Once the 200 day MA was surpassed, analysts began offering suggestions as to what sort of resistance might be on the horizon.
Katie Stockton of Fairlead Strategies argued that if the price continued upwards as she expected, it was likely to encounter resistance close to US$51,000. William Noble, chief technical analyst of research platform Token Metrics, offered similar input:
$43,700 is an important resistance point for bitcoin … if bitcoin moves above that level, and successfully retests it, the uptrend can accelerate. $49,000 could be the next stop and I would not rule out a gap move back to the highs at $64,000.
William Noble, chief technical analyst, Token Metrics
Others, such as Jake Wujastyk of TrendSpider, put the resistance level for bitcoin around US$45,000. According to him, the next level to watch above this would be the US$50,000 psychological level.
This sentiment was shared by John Iadeluca, founder and CEO of Banz Capital:
The price of $50,000 stands as a key psychological, as well as technical, level that holds immense selling pressure.
Focusing on on-chain analytics, Will Clemente suggested that bitcoin still had some way to go to address the current supply shock under way:
After another little uptick in illiquid supply shock ratio today, Bitcoin still needs to go to $55K-$57K just to make up for the current imbalance of liquid supply. pic.twitter.com/7HZLYTzulw
Remarkably, bitcoin’s current upwards trend is happening at a time of great regulatory uncertainty in the US, where a bill looks set to be passed that will have deleterious consequences for the entire crypto industry. For some reason or another, bitcoin doesn’t seem to care.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Polkadot (DOT)
Polkadot DOT is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain,
DOT Price Analysis
At the time of writing, DOT is ranked the 9th cryptocurrency globally and the current price is A$28.02. Let’s take a look at the chart below for price analysis:
After its early Q2 bullrun, DOT has been ranging between approximately A$21.05 and A$32.45.
Last week’s sharp decline ran equal lows into a gap on the daily chart. This down move could set the stage for an attack on the relatively equal highs near A$29.34 if the price can break probable resistance near A$32.78 and A$34.21.
Above these highs, resistance near A$39.54 could halt a bullish move, although reaching the monthly high at A$45.32 is possible.
Aggressive bulls might look for entries in possible support near A$25.86 and A$24.00, just below the current price. If the price sweeps last week’s low, the levels near A$23.59 and A$21.48 may also provide support.
2. Tezos (XTZ)
Tezos XTZ is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.
XTZ Price Analysis
At the time of writing, XTZ is ranked the 45th cryptocurrency globally and the current price is A$4.35. Let’s take a look at the chart below for price analysis:
XTZ’s spectacular May pump has retraced most of its gains as it finds support near A$3.47.
Stops under the relatively equal lows near A$4.12 might be swept, along with the swing low near A$3.89. If this sweep happens, the price could find support near A$3.55. A move further down could find more support near A$3.27.
Spikes upward are likely to encounter resistance beginning near A$4.88. If the bullish trend resumes after re-accumulation, some traders might take profits as the price approaches probable resistance starting around A$5.13 and A$5.38.
The monthly peak near A$6.12 provides a clear first primary target. Any price moves beyond this level are challenging to predict from current price action for the short-term trade.
3. MIOTA (IOTA)
IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains and an ideal footprint for the ever-expanding Internet of Things ecosystem.
IOTA Price Analysis
At the time of writing, IOTA is ranked the 47th cryptocurrency globally and the current price is A$1.30. Let’s take a look at the chart below for price analysis:
The second half of May punished IOTA bulls with a nearly 72% drop before the price found support near an old swing low around A$1.05.
Aggressive bulls might look for entries at possible support beginning near A$1.15. However, stops under the equal lows near A$0.9355 are likely to be swept.
The area near A$1.00 provides a possible target for this stop run if it occurs. A more sustained bearish trend could reach down to the broad zone of possible support between A$0.8945 and A$0.8236.
The price is currently challenging resistance at a gap beginning near A$1.49. If this level breaks, bulls could find more resistance near A$1.65 while targeting the highs up to A$1.77.
A sweep of these highs is likely to find resistance by the time price reaches the area near A$1.96. The next reasonable targets would be the swing highs and resistance near A$2.31 and A$2.54.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
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. Band Protocol (BAND)
Band Protocol BAND is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart contracts to facilitate the exchange of information between on-chain and off-chain data sources. BAND is the native token of the Band Protocol ecosystem and is used as collateral by validators involved in fulfilling data requests, as well as the main medium of exchange on BandChain being used to pay for private data.
BAND Price Analysis
At the time of writing, BAND is ranked the 164th cryptocurrency globally and the current price is A$9.99. Let’s take a look at the chart below for price analysis:
BAND’s nearly 83% drop from its April highs found a low near A$5.54 in June before closing over a short-term high around A$9.77 last week.
This daily close over the high could signal a shift in market structure that might reach probable resistance near A$12.08. A sustained bullish move may target the swing high at A$13.62. If this stop run occurs, a run beyond the high into probable resistance near A$13.98 and A$15.27 is possible.
Bulls could buy a retracement to possible support near A$9.47, just above the August monthly open. A bearish turn in the marketplace may propel the price toward possible support near A$6.62.
However, relatively equal lows near A$5.21 and A$4.00 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between A$3.40 and A$4.00.
2. Constellation (DAG)
Constellation DAG technology is an alternative system that allows cryptocurrencies to function similarly to those that utilise blockchain technology without the need for blocks and miners. A DAG is very similar to this peer grading system. Instead of having large mining firms confirming transactions via proof of work, DAG employs the very transactions that users make in order to confirm each others’ transactions. DAG is essentially a distributed peer-confirming system at scale.
DAG Price Analysis
At the time of writing, DAG is ranked the 154th cryptocurrency globally and the current price is A$0.2962. Let’s take a look at the chart below for price analysis:
DAG’s massive July spike retraced near A$0.1730 into the consolidation that began the impulse before bouncing to A$0.3340.
This consolidation could provide support again, although bears would first have to push the price through possible support near A$0.2679. The market’s structure may be shifting bearish, with A$0.2851 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near A$0.1568 before finding support near A$0.1241.
However, the bullish higher-timeframe trend might prevail, with relatively equal highs near A$0.3341 potentially giving an attractive target to lure the price over the August monthly open. If so, the price could reach for the midpoint of the massive July wick near A$0.3864.
3. Voyager Token (VGX)
Voyager Token VGX is a cryptocurrency broker that provides investors with a trusted and secure access point to crypto asset trading. Voyager is built to serve both retail and institutional investors with a nigh-instant solution for trading crypto assets. The native token of the brokerage, Voyager Token VGX, is used to reward users within the Voyager ecosystem. VGX also generates interest when held in the Voyager app, and offers cashback rewards and other services exclusive to Voyager users.
VGX Price Analysis
At the time of writing, VGX is ranked the 90th cryptocurrency globally and the current price is A$5.04. Let’s take a look at the chart below for price analysis:
VGX set a high near A$10.65 in February before retracing nearly 83% to find a low near A$1.84. The price consolidated around this level before the strong bullish impulse during the past several weeks.
Probable resistance near A$4.71 is slowing the bullish advance down. However, another leg might target the last swing high at A$5.84 and relatively equal highs at A$6.73. Resistance near A$6.12 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near A$8.84.
A retracement before a move higher might find support in the daily gap near A$3.64, just above the August monthly open. Relatively equal lows near A$2.95 could also provide support. A run-on stop at A$2.09 and A$1.84 might find support in the gap beginning near A$1.59 or a high-timeframe level near A$1.15.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
Cartesi CTSI is trading in an uptrend, like many other Altcoins. The cryptocurrency CTSI just went up +86% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +105% in a week.
What is Cartesi?
Cartesi CTSI is taking smart contracts to the next level, solving the urgent problem of scalability and high fees on blockchains by implementing a variant of optimistic roll-ups. Most notably, Cartesi is revolutionising smart contract programming by allowing developers to code with mainstream software stacks. Noether is Cartesi’s side-chain that’s optimised for ephemeral data, providing low-cost data availability to DApps.
CTSI Price Analysis
At the time of writing, CTSI is ranked 145th cryptocurrency globally and the current price is A$1.12. This represents a +105% increase since August 2, 2021 (seven days ago), as shown in the chart below.
After looking at the above 4-Hour candle chart, we can clearly see that CTSI was trading inside the rising wedge pattern on the CTSI/USDT pair. The first resistance was on the A$0.6936 price level, which CTSI broke with a strong bullish trend buying volume and is now heading towards the previous monthly high price at A$1.35. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery, CTSI may continue to increase in the uptrend if traders keep buying with high volume.
“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”
What Do the Technical Indicators Say?
TradingView indicators (on the one-day window) mainly suggest CTSI as a Strong Buy, except the Oscillators, which indicate CTSI as a Buy.
So Why Did CTSI Breakout?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying CTSI for the next Altcoins rally. Recent news was also announced regarding Kraken Exchange listing Cartesi CTSI with USD & EUR trading pairs.
CTSI has high liquidity on the Binance exchange, which could help for trading CTSI/BTC or CTSI/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin 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 that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. Its main benefit comes from its speed and cost-effectiveness. Litecoin transactions are typically confirmed in just minutes, and transaction fees are nearly negligible. This makes it an attractive alternative to Bitcoin in developing countries, where transaction fees may be the deciding factor on which cryptocurrency to support.
Litecoin Price Analysis
At the time of writing, LTC is ranked the 15th cryptocurrency globally and the current price is A$205.31. Let’s take a look at the chart below for price analysis:
The weekend LTC run stops under swing lows down to A$195 as it tested support near A$190.
Aggressive traders expecting expansion to the upside could look for entries near possible support near A$192. Bids near A$189 may be able to capitalise on an attempt to run the stops below the weekend’s swing low. A stop run below this low may reach into possible support near A$183.
In the short term, A$235 may provide some resistance. The swing high near A$250 provides a reasonable first target, with the area just above up to A$268 likely to create resistance.
A break of this zone makes the May high at A$329 a likely target, with further expansion possibly reaching near A$360.
2. Universal Market Access (UMA)
Universal Market Access UMA is a protocol for the creation of synthetic assets based on the Ethereum blockchain. Synthetic assets are a class of assets that represent different, underlying assets and have the same value. UMA specifically enables its users to design and create self-executing, self-enforcing financial contracts secured by economic incentives and run them on Ethereum’s blockchain.
UMA Price Analysis
At the time of writing, UMA is ranked the 105th cryptocurrency globally and the current price is A$13.34. Let’s take a look at the chart below for price analysis:
Last month’s 55% drop was immediately bought up and closed the weekly candle bullish, suggesting strength for UMA bulls.
Aggressive traders could look for support near A$11.78. Levels near A$10.35, A$9.43 and A$8.64 also provide reasonable areas for bids during a retracement.
Little resistance rests overhead, but the area between A$15.38 and the swing high at A$17.26 may cap an initial move upward. Extensions indicate A$18.67 and A$21.54 as reasonable take-profit zones.
3. Swipe (SXP)
Swipe SXP is a platform that looks to form a bridge between the fiat and cryptocurrency worlds with its API that is designed to create global payment cards powered by its native SXP token. Swipe also has an on-chain product called Swipe Swap, an Automated Market Maker which is forked by Uniswap, SushiSwap and THORchain, and is powered by Swipechain. This ecosystem is powered by the Swipe Token SXP, which functions as the fuel for the Swipe Network, and is used for paying transaction fees and securing Swipechain through bonding and governance.
SXP Price Analysis
At the time of writing, SXP is ranked the 149th cryptocurrency globally and the current price is A$3.37. Let’s take a look at the chart below for price analysis:
An impressive 215% month for SXP has retraced over 135% as the price consolidates near the weekly gap beginning near A$3.40.
The equal lows at this weekly gap are likely to see a stop run before any further move up. The area near A$3.31 at the top of a daily gap could provide support.
More probable support begins at the bottom of the gap, ranging from approximately A$2.25 to the consolidation that started the massive move upward. If this level fails, traders could look for sensitivity near the middle of the monthly gap near A$1.95.
Impulses upward during retracement are likely, but the most substantial resistance is likely just below the May swing high near A$3.90. This swing high provides a clear first target, with extensions near A$4.18, A$4.29 and A$4.45.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
BadgerDao BADGER is trading in an uptrend, like many other Altcoins. The cryptocurrency BADGER just went up +75% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +135% in a week.
What is BadgerDao?
BadgerDao BADGER is an open-source, decentralised automated organisation that is dedicated to building products and infrastructure of simplifying the use of Bitcoin as collateral across many smart contract platforms. The platform is a shared space where the developers, known as Badge Builders, have the ability to collaborate and implement Bitcoin as collateral to as many blockchains as possible. A developer can earn a percentage of the fees and BADGER tokens from the developer mining pool for every implementation.
BADGER Price Analysis
At the time of writing, BADGER is ranked 152nd cryptocurrency globally and the current price is A$37.05. This represents a +135% increase since August 1, 2021 (seven days ago), as shown in the chart below.
After looking at the above 1-Day candle chart, we can clearly see that BADGER was trading inside the rising wedge pattern on the BADGER/USDT pair. The first resistance was on the A$22.56 price level, which BADGER broke with a strong bullish trend buying volume and is now heading towards the previous high prices near A$45.27. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery with a bullish trend, BADGER may continue to increase in the uptrend if traders keep buying with high volume.
“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”
What Do the Technical Indicators Say?
TradingView indicators (on the one-day window) mainly suggest BADGER as a Buy, except the Oscillators, which indicate BADGER as a Neutral.
Badger has high liquidity on the Binance exchange, which could help for trading BADGER/BTC or BADGER/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin from different exchanges listed on Coinmarketcap.
Stafi Protocol FIS is trading in an uptrend, like many other Altcoins. The cryptocurrency FIS just went up +285% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +315% in a week.
What is Stafi Protocol?
Stafi FIS (short for Staking Finance) is a DeFi protocol that aims to unlock the liquidity of staked assets. STAFI Protocol solves the contradiction between the token liquidity and Mainnet security by issuing ABT tokens, which provide the liquidity of your Staking Assets. ABT token increases the staking rate to a higher level 100%, theoretically, and it could be tradable, its security is guided by STAFI Protocol which ensures ABT token is the only collateral that can apply to redeem staking assets from the original staking blockchain Tezos, Cosmos, Polkadot, etc.
FIS Price Analysis
At the time of writing, FIS is ranked 613th cryptocurrency globally and the current price is A$3.19. This represents a +315% increase since July 31, 2021 (seven days ago), as shown in the chart below.
After looking at the above 1-Hour candle chart, we can clearly see that FIS was trading inside the rising wedge pattern on the FIS/USDT pair. The first resistance was on the A$1.42 price levels, which FIS broke with a strong bullish trend buying volume and is now heading towards the previous high price at A$3.26. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery, FIS may continue to increase in the uptrend if traders keep buying with high volume.
“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”
What Do the Technical Indicators Say?
TradingView indicators (on the one-day window) mainly suggest FIS as a Strong Buy, except the Oscillators, which indicate FIS as a Neutral.
So Why Did FIS Breakout?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying FIS for the next Altcoins rally. Recent news was also announced regarding BSC Bridge integrated into the rToken app.
#BSC Bridge is integrated into the #rToken app, users could easily swap rTokens among Ethereum, StaFi and BSC. We will cooperate with BSC DeFi projects to create more cases for rToken users, like lending, index and DEX, etc, more adoptions to come
Stafi FIS has high liquidity on the Binance exchange, which could help for trading FIS/BTC or FIS/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin from different exchanges listed on Coinmarketcap.
