Category: Trading

AdEx ADX just pumped up to +30% in a single day with a strong breakout on Binance & other Exchanges. Let’s take a quick look at ADX, price analysis, and possible reasons for the recent breakout.

What is AdEx Network?

AdEx Network describes itself as a new-generation solution aiming to address and correct some of the most prominent inefficiencies of the online advertising industry. AdEx originated in 2017 as a decentralized ad exchange and subsequently evolved into a full protocol for the trading of advertising space/time and the subsequent verification and proof of ad delivery. It covers all interactions between publishers, advertisers, and end-users.

ADX Quick Stats

ADX Price Analysis

At the time of writing, ADX is ranked 190th cryptocurrency globally and the current price is $0.4443 AUD. This is a +45.66% increase since 13th December 2020 (7 days ago) as shown in the chart below.

If we see the above 4-hour candle chart, ADX did a strong breakout from the falling wedge pattern & is now heading towards its major resistance of the month. After BTC made a new all-time high in its price and Altcoins are also rising in a bullish trend, ADX looks well-positioned to hit the next high price levels.

“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

What do the technical indicators say?

The AdEx Network TradingView indicators (on the 1 day) mainly indicate ADX as a buy, except the Oscillators which indicate ADX as a sell.

So Why did ADX Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying ADX for the next Altcoins rally & it could also be contributed to some of the recent news of ADX Staking Rewards.

Recent ADX News & Events:

• 26 November 2020 – Black Friday Cashback Campaign
• 07 December 2020 – AMA with AdEx CEO
• 19 December 2020 – ADX Staking Rewards.

Where to Buy or ADX?

ADX has the highest liquidity on Binance Exchange so that would help for trading ADX/BTC or ADX/ETH pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

The cryptocurrency Audius AUDIO just went up over +40% in a single day. Let’s take a quick look at AUDIO, price analysis, and possible reasons for the recent breakout.

What is Audius?

Audius is a decentralized music-sharing and streaming protocol that facilitates direct transactions between listeners and creators, giving everyone the freedom to distribute, monetize, and stream any audio content.

Audius Quick Stats

Audius Price Analysis

At the time of writing, AUDIO is ranked 314th cryptocurrency globally and the current price is $0.3289 AUD. This is a +55.15% increase since 11th December 2020 (7 days ago) as shown in the chart below.

In the past week, there was a strong rise in Bitcoin, Ethereum, and Ripple. As a result, Audius (AUDIO) also formed strong support near $0.2586 before starting a fresh increase against the AUD.

If we see the above 4-hour candle chart, AUDIO is forming a Rising Wedge pattern and is now currently trading at $0.3289 AUD after a successful breakout today. The next resistance is on the $0.4125 AUD price levels which can be broken any time soon if AUDIO keeps trading in the uptrend with strong buying 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.”

If we zoom out and take a look at the price over the past few days or so, we can see the recent breakout more clearly, the price chart looks in a strong uptrend which is good for long-term growth.

What do the Technical indicators say?

The  AUDIO TradingView indicators (on the 1 day) mainly indicate AUDIO as a buy, except the Oscillators which indicate AUDIO as a Neutral.

So Why did AUDIO Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up AUDIO to their portfolio for the next Altcoins rally. It could also be contributed to some of the recent news of Audius Mainnet.

Recent AUDIO News & Events:

• 17 November 2020 – Krewella to Audius Community
• 10 December 2020 – Audio Staking
• 11 December 2020 –  Audius Mainnet Launch

Where to Buy or Trade Audius?

Audius has the highest liquidity on Binance Exchange so that would help for trading AUDIO/USDT or AUDIO/BTC pairs. However, you can also buy AUDIO from different exchanges listed on Coinmarketcap.

Prometeus PROM just pumped up to +90% in a single day with a strong breakout on Binance & other Exchanges. Let’s take a quick look at PROM, price analysis, and possible reasons for the recent breakout.

What is Prometeus?

Prometeus Network describes itself as a secure and decentralized ecosystem designed to solve real-world problems in data brokerage. It was created for the Influencer Marketing, Medical, and Insurance data market industries. Prometeus Network is developed by Prometeus Labs, a company of data scientists and entrepreneurs.

PROM Quick Stats

PROM Price Analysis

At the time of writing, PROM is ranked 199th cryptocurrency globally and the current price is $6.89 AUD. This is a +105.66% increase since 10th December 2020 (7 days ago) as shown in the chart below.

After looking at the above 4-hour candle chart, we can clearly see that PROM was trading inside the inverse head and shoulders pattern on the PROM/BUSD pair. The first resistance was on the $3.12 AUD price level which PROM broke with a strong bullish trend buying volume and is now heading towards the all-time high price. Seeing that many altcoins are waking up bullish today, PROM is likely to continue to increase in the uptrend.

“An inverse head and shoulders pattern is comprised of three component parts: After long bearish trends, the price falls to a trough and subsequently rises to form a peak. … The price falls for the third time, but only to the level of the first trough, before rising once more and reversing the trend.”

What do the Technical indicators say?

The  PROM TradingView indicators (on the 1 day) mainly indicate PROM as a buy, except the Oscillators which indicate PROM as a sell.

So Why did PROM Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up PROM to their portfolio for this Altcoin rally. It could also be contributed to some of the recent news of Binance Listing PROM to Innovation Zone.

Recent PROM News & Events:

• 30 September 2019 – Prototype Release
• 31 December 2019 – TestNet Release
• 06 August 2020  – Bithumb Listing
• 27 November 2020  – Binance Listing

Where to Buy or Trade PROM?

Prometeus has the highest liquidity on Binance Exchange so that would help for trading PROM/BUSD or PROM/BNB pairs. However, you can also buy PROM from different exchanges listed on Coinmarketcap.

Theta Fuel is trading in active uptrend here like many other altcoins. The Cryptocurrency TFUEL just went up +27.96% in a single day and surges over +42.12% in a week.

What is Theta Fuel?

Theta Fuel is the second token (gas token) of the Theta Network. Theta Fuel is a native token on the Theta blockchain. TFUEL powers on-chain operations like payments to relayers for sharing a video stream, or for deploying or interacting with smart contracts. Relayers earn TFUEL for every video stream they relay to other users on the network.

TFUEL Quick Stats

TFUEL Price Analysis

At the time of writing, TFUEL is ranked 114th cryptocurrency globally and the current price is $0.0226 AUD. This is a +42.12% increase since 8th December 2020 (7 days ago) as shown in the chart below.

After looking at the above 1-hour candle chart, we can clearly see that TFUEL was trading inside the falling wedge pattern on the TFUEL/BTC pair. The first resistance was on the $0.0165 AUD price levels which TFUEL broke with a strong bullish trend buying volume and is now heading towards the next resistance at $0.0254 AUD & $0.0286 AUD respectively. Seeing that many altcoins are waking up bullish today, TFUEL is likely to continue the uptrend.

“The falling wedge pattern is a continuation pattern formed when price bounces between two downward slopings, converging trendlines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns – depending on where it appears in the trend”

What do the Technical Indicators say?

The  TFUEL TradingView indicators (on the 1 day) mainly indicate TFUEL as a strong buy, except the Oscillators which indicate TFUEL as a buy.

So Why did TFUEL Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up TFUEL to their portfolio for this Altcoins rally. It could also be contributed to some of the recent news of TFUEL Staking & Burning.

Recent TFUEL News & Events:

• 14 July 2020 – ATOMARS Listing
• 30 September 2020 – Testnet Smart Contracts
• 30 September 2020  – Video-on-Demand
• 31 December 2020 – Mainnet Smart Contracts

Where to Buy or Trade TFUEL?

Theta Fuel has the highest liquidity on Binance Exchange so that would help for trading TFUEL/USDT or TFUEL/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

DForce DF is flipping on a 1-hour candle chart, DF just went up over +76% in a single day. Let’s take a quick look at DF, price analysis, and possible reasons for the recent breakout.

What is DForce?

DF is the platform utility token of the DForce network, an integrated and interoperable DeFi platform. It will be used for transaction services, community governance, system stabilizer, incentivization, and validator deposits.

DForce Quick Stats

DForce Price Analysis

At the time of writing, DF is ranked 414th cryptocurrency globally and the current price is $0.2100 AUD. This is a +107.70% increase since 5th December 2020 (7 days ago) as shown in the chart below.

If we see the above 1-hour candle chart, DF did a strong breakout from the falling wedge pattern & is now heading towards its major resistance of the month. After BTC crashed the Altcoins market today with a -3% drop in its price, DF looks well-positioned to hit the next high price levels.

“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

What do the technical indicators say?

The DForce TradingView indicators (on the 1 day) mainly indicate DF as a buy, except the Oscillators which indicate DF as a neutral.

So Why did DForce Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying Dforce for the next Altcoins rally & it could also be contributed to some of the recent events & announcement where Binance Lists DForce DF.

Recent DForce News & Events:

• 04 July 2020 – C-S Blockchain Summit
• 04 December 2020 – Ecosystem Update
• 11 December 2020 – Binance Innovation Zone

Where to Buy or Trade DForce?

DForce has the highest liquidity on Binance Exchange so that would help for trading DF/BUSD or DF/ETH pairs. However, you can also buy DForce from different exchanges listed on Coinmarketcap.