Category: Waves

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Band Protocol Crypto News Market Analysis Ravencoin Trading Waves

Top 3 Coins to Watch Today: BAND, WAVES, RVN – August 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. 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 being the main medium of exchange on BandChain, used for paying for private data.

BAND Price Analysis

At the time of writing, BAND is ranked the 394th cryptocurrency globally and the current price is US$1.40. Let’s take a look at the chart below for price analysis:

Source: TradingView

Like many other altcoins, BAND set a high around April before retracing 80% to the low at $1.20 in Q3.

Price broke through resistance near $1.45, which may mark an area of possible support on a retracement. If this support fails, bulls may also step in near $1.34. However, a drop this far increases the chances of a stop run to $1.25 and possibly into support near $1.19. For now, continuing bullish market conditions could help $1.40 become support.

The swing high around $1.73 gives bulls a reasonable first target, with $1.98 also likely to draw the price upward. Higher-timeframe resistance beginning near $2.10 or $2.19 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near $2.30.

2. 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 72nd cryptocurrency globally and the current price is US$5.02. Let’s take a look at the chart below for price analysis:

Source: TradingView

WAVES has dropped almost 95% from its late-March high and over 64% from its early June high. The price is now rallying toward the middle of its local range.

Bulls may find their first support between $5.00 and $4.80. This area shows inefficient trading on the daily chart inside June 21’s strong bullish impulse. It’s also just below the 9 and 18 EMAs.

The price may be seeking probable resistance near $6.40. This level shows consolidation on the daily chart over the current range’s midpoint. Weekly candle bodies also show that bears rejected bulls near January’s swing lows around this area.

This potential rally could continue over the June monthly open to $7.32. Candle bodies on the weekly and monthly charts show that bulls rejected bears at this level in late January. This area also shows inefficient trading on the weekly chart, which may need a revisit.

Yet relative equal lows near $4.56 offer a very tempting target for bears. The price could find some support under these lows, down to $4.13. This area shows inefficient trading on the weekly and monthly charts. It’s also near the high of September 2020’s consolidation.

A longer bearish move may continue through these possible supports to a zone from $3.87 to $3.45. If the price moves this low, it may be targeting bulls’ stops below weekly swing lows near $3.15. The bottom of this zone also shows inefficient trading on the monthly chart.

3. Ravencoin (RVN)

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

RVN Price Analysis

At the time of writing, RVN is ranked the 104th cryptocurrency globally and the current price is US$0.03178. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the November high, RVN‘s 70% drop marks the current range as a reasonable area to expect accumulation.

The recent bearish flip of the 9, 18 and 40 EMAs may cause bulls to be less aggressive in bidding. However, possible support near $0.03045 and $0.02738 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce. 

Last year’s long-term consolidation suggests that the areas near $0.04846 and $0.05178 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $0.05412, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $0.05729, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $0.06045 may 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.

Source: TradingView

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.

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Crypto News Ergo Market Analysis MyNeighborAlice Trading Waves

Top 3 Coins to Watch Today: ALICE, ERG, WAVES – June 28 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. 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 280th cryptocurrency globally and the current price is US$2.570. Let’s take a look at the chart below for price analysis:

Source: TradingView

ALICE dropped almost 79% from its April high to a mid-May low. Since this drop, the price has consolidated in a tight range between approximately $3.330 and $1.845.

Support may have formed near $2.571. This area shows inefficient trading on the daily chart. It also overlaps June 15’s swing high and contains the 9 and 18 EMAs.

If this level breaks, the price might also find support at a small distance below, near $2.169. Here, the weekly chart shows that bulls rejected bears.

The 40 EMA is currently providing some resistance. Yet the price may be seeking the next resistance near $3.00. This level is near the top of the range, contains relative equal highs, and is just below the June monthly open.

A break through this level might reach the next resistance near $3.330. This level is just above relative equal highs and the June monthly open. It also shows inefficient trading on the weekly chart and overlaps with the June 2021 swing low’s wick.

If the rally continues, $3.804 could provide the next resistance. This level shows inefficient trading on the weekly and monthly charts. It also overlaps with June 2021’s weekly and monthly swing low candle body boundaries.

The overall market is still bearish, so bulls should be cautious. There is no historical price action to suggest support below the current price. The local range’s 50% extension suggests that $1.250 to $1.00 could be the next longer-term downside target.

2. Ergo (ERG)

The Ergo ERG platform aims to provide an efficient, secure and easy way to implement financial contracts that will be useful and survivable in the long term. Ergo describes itself as a self-amendable protocol that reportedly allows it to absorb new ideas and improve itself in a decentralised manner. It is a project that boasts a programmable blockchain with an energy-efficient and stable mining protocol.

ERG Price Analysis

At the time of writing, ERG is ranked the 315th cryptocurrency globally and the current price is US$1.97. Let’s take a look at the chart below for price analysis:

Source: TradingView

ERG‘s price has dropped almost 67% from its late-March high to its mid-June low, and has been consolidating in a tight range since.

The price is now testing possible support near $2.050. This level is at the May swing lows and in the upper half of the local consolidation range. It also contains the 9 and 18 EMAs.

If the price does rally, the next resistance may be at $2.2657. This level contains the 40 EMA. It also shows inefficient trading and is at the bottom of early June’s consolidation on the daily chart. A rally this high would fill a pocket of inefficient trading on the weekly chart.

A more substantial rally could reach up to $2.7272. This move would run bears’ stops above late May and early June’s swing highs. In this area, the monthly and weekly charts show inefficient trading. It also overlaps with a swing low from February 2022.

Bulls should be careful since market conditions are still bearish. If the price breaks the closest support, it might reach the next possible support between $1.680 and $1.4950.

A move this low would run bulls’ stops under a mid-March 2021 weekly swing low. Under this low, bears might take profits in the area of inefficient trading on the monthly chart.

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 66th cryptocurrency globally and the current price is US$5.92. Let’s take a look at the chart below for price analysis:

Source: TradingView

WAVES has dropped almost 96% from its late-March high and over 64% from its early June high. The price is now rallying toward the middle of its local range.

Bulls might find their first support between $5.82 and $5.01. This area shows inefficient trading on the daily chart inside June 21’s strong bullish impulse. It’s also just below the 9 and 18 EMAs.

The price may be seeking probable resistance near $7.97. This level shows consolidation on the daily chart over the current range’s midpoint. Weekly candle bodies also show that bears rejected bulls near January’s swing lows around this area.

This potential rally could continue over the June monthly open to $9.12. Candle bodies on the weekly and monthly charts show that bulls rejected bears at this level in late January. This area also shows inefficient trading on the weekly chart, which may need a revisit.

Yet relative equal lows near $4.13 offer a very tempting target for bears. The price could find some support under these lows, down to $3.75. This area shows inefficient trading on the weekly and monthly charts. It’s also near the high of September 2020’s consolidation.

A longer bearish move may continue through these possible supports to a zone from $2.57 to $1.80. If the price moves this low, it might be targeting bulls’ stops below weekly swing lows near $2.00. The bottom of this zone also shows inefficient trading on the monthly chart.

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.

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.

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Crypto News DeFi Tokens Waves

WAVES Token Pumps 60% Amid DeFi Revival Plan and Airdrop

More positives for the Waves open-source blockchain, following the announcement of a DeFi revival plan, the WAVES token price increased by approximately 60 percent in the May 31 trading session, only to crash back down a couple of days later.

DeFi Revival Makes WAVES

The WAVES token jumped from US$6 at the beginning of the week to a US$10.15 intraday peak on May 31 and is now likely to hit its US$12.30 resistance, a point it has not reached since May 11.

The trouble for the WAVES token began at the beginning of April after a large sell-off of USDN. The knock-on effect was last month’s de-pegging of the stablecoin. This, combined with the Vires Finance liquidity crisis and the LUNA crash, meant an intense plunge for WAVES.

Anatomy of a ‘Master Plan’

There are several contributing factors to the 60 percent WAVES surge, the most notable being the Waves DeFi revival plan. The so-called “master plan”, according to a Waves Tech post, will look like this:

  • begin buying and locking CRV tokens with 45 percent of the WAVES staking profits from Neutrino, and vote to incentivise the USDN 3-pool, to improve demand for USDN;
  • liquidate large accounts, taking control of their collateral;
  • sell the collateral without de-pegging USDN to return liquidity to Vires Finance and reduce utilisation rate, enabling larger user withdrawals; and
  • improve Neutrino architecture with a new recap token that recapitalises Neutrino with new Waves Tokens when under-collateralised:

As part of the recapitalisation of Neutrino, the Waves protocol will be airdropping the new token via Tsunami Testnet, providing users meet eligibility conditions.

With the wider crypto market slowly turning green after a lengthy period of lows, along with the revival plan to be implemented, WAVES may continue its surge over coming weeks.

WAVES’ Recent Breaks

March was eventful for the Waves protocol as it managed to stay at the forefront of innovation via a partnership with Allbridge. A combination of this partnership and the protocol’s migration to Waves 2.0 caused the token to surge by 120 percent in just a week.

The back end of March saw the Waves protocol pump 70 percent following the news that it would be launching in the US. The US Waves Labs project was tasked with supercharging the protocol’s ecosystem upon its March 28 launch.

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Crypto News Market Analysis NEAR Protocol Trading VeChain Waves

Top 3 Coins to Watch Today: NEAR, VET, WAVES – June 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. Near Protocol (NEAR)

NEAR Protocol is a decentralised application platform designed to make apps usable on the web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to offer scalability and stable fees. NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism, called “Doomslug”.

NEAR Price Analysis

At the time of writing, NEAR is ranked the 20th cryptocurrency globally and the current price is US$6.08. Let’s take a look at the chart below for price analysis:

Source: TradingView

After its uptrend during Q1, NEAR has retraced 70% from its highs to support at the retracement of around $5.80.

The price shifted market structure to run to the consolidation lows near $6.40, just under the monthly open. A continued bearish trend in the market may create support just below, between $6.00 and $5.20.  

On the other hand, if the current resistance breaks, the price might find resistance near $8.33, whereas mid-Q1 buyers may still be trapped in longs.

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 32nd cryptocurrency globally and the current price is US$0.03286. Let’s take a look at the chart below for price analysis:

Source: TradingView

VET‘s 68% move during late March ran into resistance near $0.08420, at the 30% extension of the Q1 swing.

An old high and the 18 EMA have provided support near $0.03083 and may give support again on a retest. This area also has confluence with the 51% and 63.8% retracements of November’s swing.

Just below, near $0.02943, the 56.8% retracement of the current Q1 swing might also mark an area of support. 

If the market turns bearish, $0.02572 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.03948, at the 50% extension of the last week swing, could see some profit-taking if bulls break the current resistance near $0.04478. Above, old consolidations near $0.04825 and $0.05072 may also provide some resistance before another round of price discovery.

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 60th cryptocurrency globally and the current price is US$8.67. Let’s take a look at the chart below for price analysis:

Source: TradingView

During April’s high, WAVES‘ slight 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 $7.12 and $6.35 – between the 41.8% and 50.6% retracements – could see at least a short-term bounce. 

Long-term consolidation suggests that the areas near $11.45 and $13.61 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $12.77, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $15.42, 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.

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.

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Binance Coin Crypto News Market Analysis The Sandbox Trading Waves

Top 3 Coins to Watch Today: BNB, WAVES, SAND – May 11 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 4th cryptocurrency globally and the current price is US$323.70. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 30% decline from last week, BNB has ranged between $310 and $358. The recent price recovery was approaching probable resistance near $375 but could be aiming for stops above the relatively equal highs near $380. Continuation of the trend could target the daily gap near $394.

Aggressive bulls might add to positions near $320 and $316. Price action near $310 may be more likely to provide support – if it gets there – during any retracements.

Relatively equal lows clustered around $300 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 $290.

2. 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 55th cryptocurrency globally and the current price is US$12.14. Let’s take a look at the chart below for price analysis:

Source: TradingView

During Q1 high, WAVES‘ slight 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 $14.12 and $12.10 – between the 41.8% and 46.6% retracements – could see at least a short-term bounce. 

Long-term consolidation suggests that the areas near $25.45 and $30.61 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $20.77, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $23.42, the start of the bearish move.

3. The Sandbox (SAND)

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

SAND Price Analysis

At the time of writing, SAND is ranked the 39th cryptocurrency globally and the current price is US$1.76. Let’s take a look at the chart below for price analysis:

Source: TradingView

SAND‘s impressive gains during Q1 halted at $4.95 before retracing 70% of the move. This price action created several areas of possible higher-timeframe resistance in the process.

The price found resistance on its last swing upward near $2.43 – an area that could provide resistance again. If this swing high breaks, the price might find resistance near $2.85. If this area does provide resistance, it would suggest the formation of a higher-timeframe consolidation.

The fast move up left little higher-timeframe support. However, a vast zone between $1.90 and $1.72 has provided support before and could give support again on a retest. This zone is between the 61.8%-to-78.6% retracement levels of 2021 Q4’s parabolic move.

Continuation downward through this level, especially if the overall market remains bearish, could retrace most of Q4’s move to the next higher-timeframe support near $1.55.

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.

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.

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Crypto News DigiByte Market Analysis Trading VeThor Token Waves

Top 3 Coins to Watch Today: DGB, WAVES, VET – April 22 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. DigiByte (DGB)

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

DGB Price Analysis

At the time of writing, DGB is ranked the 144th cryptocurrency globally and the current price is US$0.02628. Let’s take a look at the chart below for price analysis:

Source: TradingView

After retracing nearly 56% since the beginning of Q2, a 30% range has trapped DGB between $0.03449 and $0.02322 during April.

A consolidation near $0.02192, visible on the weekly chart, provided support on the last touch. This level could provide support again on a stop run under the $0.02015. 

A deeper run-on stop at $0.01920 might reach the top of a higher-timeframe gap at the same level. However, a push this low reduces the chance of a new monthly high soon. Below, little significant support exists until $0.01713.

Higher-timeframe levels overlapping with a daily gap beginning at $0.02895 are likely to provide resistance, perhaps on a sweep of the equal highs near $0.03240. Breaking this resistance makes the relatively equal highs near $0.03755 and the monthly high at $0.03947 the next probable targets.

2. 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 52nd cryptocurrency globally and the current price is US$20.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

During April’s high, WAVES‘ slight 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 $20.12 and $18.35 – between the 31.8% and 40.6% retracements – could see at least a short-term bounce. 

Long-term consolidation suggests that the areas near $29.45 and $34.61 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $28.77, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $32.42, the start of the bearish move.

3. 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 35th cryptocurrency globally and the current price is US$0.06087. Let’s take a look at the chart below for price analysis:

Source: TradingView

VET‘s 65% move during late March ran into resistance near $0.08120, at the 27% extension of the Q1 swing.

An old high and the 18 EMA have provided support near $0.05833 and may give support again on a retest. This area also has confluence with the 50% and 62.8% retracements of November’s swing.

Just below, near $0.05493, the 55.8% retracement of the current Q1 swing might also mark an area of support. 

If the market turns bearish, $0.05072 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.07418, at the 50% extension of the last week swing, could see some profit-taking if bulls break the current resistance near $0.07978. Above, old consolidations near $0.08425 and $0.08872 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.

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
Blockchain Crypto News Markets Tokens Waves

WAVES Protocol is Making Waves, Surging 70% Amid News of US Launch

The price of the Waves blockchain’s token (WAVES) has surged over 70 percent following the March 28 launch of Waves Labs, a US-based organisation tasked with supercharging Waves ecosystem’s growth globally.

According to CoinGecko, WAVES’ value jumped from US$31.80 to US$54 in the 24 hours following the announcement. Since then it’s continued to increase, at the time of writing sitting at US$57.14 – a new all-time high.

Waves Labs to Boost Awareness and Adoption

Waves Labs, which will be headquartered in Miami, US, will spearhead expansion of the Waves ecosystem by pursuing aggressive marketing and hiring strategies and by supporting Waves-based projects with mentoring and funding grants.

Waves founder Sasha Ivanov was optimistic that Waves Labs would further boost the ecosystem despite the network having recently seen record growth, stating:

Waves Labs is a key component of the Waves plan to grow exponentially in 2022. Despite a period of record growth of our ecosystem, Waves remains relatively unknown in the US crypto space. With the founding of Waves Labs, the ecosystem fund, and the extremely talented team in place, I do not doubt that Waves will reach mass adoption in 2022 and beyond. 

Sasha Ivanov, founder, Waves

New Team Brings Crypto Experience

Waves Labs also announced its newly hired senior leadership team, which includes:

  • Aleks Rubin as head of US Operations;
  • Coleman Maher, who previously led business development at Origin Protocol, as head of Ecosystem;
  • Jack Booth, former product marketing lead at Oasis Protocol, as Marketing Lead; and
  • Tiffany Phan as VP of Finance and Operations. 

US head Rubin said: “I am excited to lead this dynamic team as we expand visibility and enhance the utilisation of Waves protocol in the North American market.”

US Launch Follows Bullish Period 

The launch of Waves Labs follows a recent run of bullish news for the network, starting in February of this year: the migration to Waves 2.0; the launch of a US$150 million fund to support Waves-based dApps; and its partnership with Allbridge to facilitate cross-chain interoperability. 

In addition, the total value locked in the Waves ecosystem has boomed recently. In particular, Neutrino – a Waves-based multi-assetisation protocol – has exploded, seeing its total value locked increase over 300 percent in the past month to a new all-time high of US$4.36 billion, including inflows of almost US$450 million in a single day.

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Crypto News Fantom Market Analysis The Graph Trading Waves

Top 3 Coins to Watch Today: WAVES, FTM, GRT – March 17 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. 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 40th cryptocurrency globally and the current price is US$27.94. Let’s take a look at the chart below for price analysis:

Source: TradingView

During the last week’s high, WAVES‘ slight 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 $25.88 and $22.35 – between the 31.8% and 40.6% retracements – could see at least a short-term bounce. 

Long-term consolidation suggests that the areas near $33.45 and $35.61 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.

2. Fantom (FTM)

Fantom FTM is a directed acyclic graph (DAG) smart contract platform providing decentralised finance (DeFi) services to developers using its own bespoke consensus algorithm. Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms – specifically transaction speed, which developers say they have reduced to under two seconds.

FTM Price Analysis

At the time of writing, FTM is ranked the 44th cryptocurrency globally and the current price is US$1.18. Let’s take a look at the chart below for price analysis:

Source: TradingView

FTM‘s bounce since January ran into resistance near the old all-time highs. This rejection created a set of relatively equal highs near $3.25, possibly forming the next bullish leg’s target. Until then, the price will likely encounter resistance near $1.90.

Currently, the price is testing possible support near the weekly open, around $1.08. This level also has confluence with the 78.6% retracement of the current local range and the 18 and 40 EMAs. 

If this level fails to provide support, a zone from $0.9849 to $0.9230 might mark a possible swing low or consolidation area. This zone is between the 61.8% and 75.6% retracement of early December’s swing.

A more bearish tone in the market could propel the price lower. The lows, near $0.8837, might mark an area of possible support as well as a bearish target.

3. The Graph (GRT)

The Graph GRT is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. GRT is a work token that is locked up by Indexers, Curators and Delegators in order to provide indexing and curating services to the network.

GRT Price Analysis

At the time of writing, GRT is ranked the 49th cryptocurrency globally and the current price is US$0.4388. Let’s take a look at the chart below for price analysis:

Source: TradingView

GRT‘s 80% retracement in Q1 set a low near $0.3147 during its consolidation that began in early March.

Relatively equal highs near $0.5244 could be the current target if the price breaks through resistance beginning near $0.5958. Bullish continuation might reach through the next significant swing high near $0.6138 into the daily gap near $0.6612.

If bullish strength continues, the zones just below the previous monthly highs near $0.7043 and $0.7412 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $0.4036 into possible support near $0.3782. If this down move occurs, the swing low near $0.3342 and possible support near $0.3016 may be the primary objective.

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Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

Categories
Crypto News DeFi Ethereum Gas Waves

BRISE DeFi Token Soars 120% as Bitgert Offers Business DeFi Products

As the overall crypto market continues to trend downward, the top-ranked cryptocurrencies have tumbled. Ethereum is one that has completely destabilised amid the current bear market, but as its price plummets another DeFi token has soared 120 percent – Bitgert (BRISE).

Bitgert has been doing well amid a tumultuous market, as is evident from its skyrocketing price and fast-growing market cap, fast approaching US$800 million, which has many wondering why this project in particular is doing so well.

Why is BRISE Soaring?

The short answer is the launch of the Bitgert BRC20 blockchain. As a zero gas fee blockchain, Bitgert is addressing current concerns regarding the network’s high gas fees – a problem Ethereum in particular deals with – and investors are excited by this. The gas fee associated with the Bitgert chain is only US$0.0000000000001. BRC20 has also overtaken Solana to become the fastest chain available after hitting an impressive 100,000 transactions per second (TPS), way faster than Solana’s 65,000 TPS.

These features ensure that Bitgert BRC20 is the most powerful chain in the crypto space as of now, and its anticipated mass adoption has prompted investors, including crypto whales, to buy more BRISE, which adds to its bullish trend. The team is bringing in hundreds of products and projects on the BRC20 blockchain to increase chain adoption. The Bitgert Startup Studio will also be the first program that will bring hundreds of projects to the ecosystem.

DeFi Does Well Amid Bearish Market

As the overall crypto market remains bearish, some DeFi projects seem to be beating the bear. Earlier in the week, Tornado Cash Token (TORN) surged 94 percent following protocol updates. WAVES saw similar surges when it shot up 120 percent in just a week following an announcement of a partnership with Allbridge, which will connect Waves with other popular blockchain networks.

Categories
DeFi Tokens Waves

DeFi Protocol Waves Surges 120% in a Week Amid New Partnerships

Developments in the crypto space never cease, and projects that continually evolve and survive in the long term are those that remain at the forefront. At the moment, it is the Waves protocol staying atop the innovation wave, and the biggest reason for its latest price increase is its just-announced partnership with Allbridge.

About Waves

Waves, launched in 2016, is a global open-source platform for decentralised applications (dApps). Based on proof-of-stake consensus, Waves aspires to make the most of blockchain, with a minimal carbon footprint. Waves’ technology stack can benefit in any use cases that demand security and decentralisation, such as open finance, personal identification, gaming, and sensitive data.

Data from TradingView suggests that the price of WAVES has rallied 120 percent since its low of US$8.28 on February 22. As it stands, WAVES is trading at US$17.99, according to data from CoinMarketCap.

Why Waves is Pumping

The recent surge of WAVES’ price can be attributed to three different factors:

  • the announcement that the protocol will migrate to Waves 2.0;
  • the partnership with Allbridge that will connect Waves with other popular blockchain networks; and
  • the upcoming launch of a US$150 million fund aimed at fostering Waves’ growth in the US.

Other DeFi tokens such as Anchor Protocol also soared this week amid a new tokenomics model.

Waves’ Partnership with Allbridge

Boosting the price of Waves is its new partnership with Allbridge, a protocol focused on facilitating the transfer of assets between all blockchain networks:

The partnership is part of the larger goal of Waves 2.0 towards universal bridge integration. The intended goal is “to create a unique bridge between Waves and supported EVM as well as non-EVM chains such as NEAR protocol, Solana and Terra”.

According to Waves developers, the goal is to have Allbridge fully integrated by the end of May.

Another DeFi token making waves is Anchor Protocol (ANC), who recently surged 50 percent following the announcement of its new tokenomics model.