Category: Zcash

Top 3 Coins to Watch Today: SKL, ONE, ZEC – July 18 Trading Analysis

Post author By Malik Junaid
Post date July 18, 2022

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. SKALE Network (SKL)

Skale SKL is described as an elastic network that’s designed to bring scalability to Ethereum. As well as boosting transaction capacity, the decentralised project aims to reduce latency and ensure that payments can be made as cheaply as possible. SKALE Network is geared towards improving both the security and decentralisation of Ethereum-based apps. Token holders on the SKALE Network are incentivised and earn rewards by helping to improve the scalability and security of the platform by serving as validators.

SKL Price Analysis

At the time of writing, SKL is ranked the 150^th cryptocurrency globally and the current price is US$0.05101. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the beginning of Q2, SKL has been in a gentle downtrend. The future likely holds more stop runs and erratic volatility until the chart forms more substantial high-timeframe levels.

A retracement might uncover support near $0.05020, which is the daily high of the last swing low. The high of the wick beginning near $0.04671 may also provide support. However, bulls will likely remain wary of the current downtrend, making the low at $0.04130 the likely next bearish target.

Just above, the daily gap beginning near $0.05788 may provide resistance to bulls, possibly marking a future range high. A push through this level is likely to target the swing high near $0.06293 – perhaps running to probable resistance near $0.06544. Strength above this level might signal the start of a bullish trend, encouraging bulls to “buy the dip”.

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 was 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 108^th cryptocurrency globally and the current price is US$0.02152. Let’s take a look at the chart below for price analysis:

Source: TradingView

ONE bulls have had to endure a 85% drop since early Q2 until the price set a low and began a range in June.

Currently, the price is aggressively moving toward possible resistance, beginning near $0.02951. Stops above the swing high at $0.03325 might be the target before a downwards retracement. Multiple old lows mark this resistance, which is near the 78.6% retracement level of a recent significant bearish swing.

If the price continues through this high, it could be reaching for an inefficient area near $0.03742. Moving to this level would run bears’ stops above the swing high at the same level. A more substantial rally might reach an old swing high and inefficiently traded area between $0.03975 and $0.04038, which surrounds the yearly open.

If the price stays above the weekly low of $0.02095, this price could support a run above the $0.01935 swing high. Just below, at $0.01854, bulls might eye the consolidation high as more substantial support. This zone contains the 9 and 40 EMAs.

A deeper retracement might retest the accumulation area between $0.01725 and $0.01680. If this level breaks, bears may be targeting an inefficiently traded area on higher timeframes beginning near $0.01480. This area overlaps the 47% extension of a recent significant bearish swing.

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 52^nd cryptocurrency globally and the current price is US$60.44. 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 may cause bulls to be less aggressive in bidding. However, possible support near $52.47 and $44.96 – between the 41.8% and 58.6% retracements – could see at least a short-term bounce.

Last year’s long-term consolidation suggests that the areas near $83.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $75.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $88.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $97.32 may provide a ceiling for this impulse.

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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.

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Top 3 Coins to Watch Today: ZEC, REQ, ATOM – July 1 Trading Analysis

Post author By Malik Junaid
Post date July 1, 2022

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. Zcash (ZEC)

ZEC Price Analysis

At the time of writing, ZEC is ranked the 50^th cryptocurrency globally and the current price is US$53.23. 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 may cause bulls to be less aggressive in bidding. However, possible support near $50.47 and $41.96 – between the 41.8% and 58.6% retracements – could see at least a short-term bounce.

Last year’s long-term consolidation suggests that the areas near $84.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $95.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $106.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $115.32 might provide a ceiling for this impulse.

2. Request (REQ)

The Request REQ utility token ensures the performance and stability of the Request Network. The Request Network itself is an Ethereum-based decentralised payment system where anyone can request a payment and receive money through secure means. It removes the requirement for third parties in order to provide a cheaper, more secure payment solution that works with all global currencies.

REQ Price Analysis

At the time of writing, REQ is ranked the 160^th cryptocurrency globally and the current price is US$0.1174. Let’s take a look at the chart below for price analysis:

Source: TradingView

REQ has continued its rally through the daily gap between $0.08133 and $0.1057, turning this region into an area of possible support.

However, a stop run under the relatively equal lows at $0.07583 could form a wick below this level, potentially reaching an untapped daily gap beginning near $0.07051.

Resistance beginning at $0.1372 has seen significant profit-taking, shown by the long upper wicks on the daily candles. A break of this resistance may reach the next significant swing high at $0.1507, continue into probable resistance just above, and possibly set a new monthly high at $0.1833.

3. Cosmos (ATOM)

Cosmos ATOM bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains. ATOM tokens are earned through a hybrid proof-of-stake algorithm and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.

ATOM Price Analysis

At the time of writing, ATOM is ranked the 27^th cryptocurrency globally and the current price is US$7.10. Let’s take a look at the chart below for price analysis:

Source: TradingView

ATOM has been consolidating in a range around Q1 2022’s high. Q2 2022 saw the start of a smaller range inside this larger range. Near the current price, $7.00 or $6.80 could support at least a small move upward. This area is near the local range low, inefficiently traded, and the site of a stop run.

Just above the current price, the 9, 18 and 40 EMAs might provide resistance near $7.86. This level saw consolidation before last week’s downward move.

A move back toward the local range highs could reach possible resistance near $8.65, where bears rejected the recent rally. This level is just above the May monthly open.

A more extended move by bulls might reach the larger range’s rejection area near $9.81. However, a move this far is less likely unless the overall market rallies.

Below the higher timeframe’s range, $6.75 to $6.10 could provide more substantial support to start a longer-term bullish trend. This level is near the 78.6% retracement of the July 2021 to September 2021 rally, shows inefficient trading on higher-timeframe charts, especially between $6.05 and $5.90, and provides a reasonable stop run target.

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Top 3 Coins to Watch Today: DOT, GST, ZEC – June 3 Trading Analysis

Post author By Malik Junaid
Post date June 3, 2022

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 11^th cryptocurrency globally and the current price is US$9.83. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT has retraced nearly 70% after Q1, showing little sign of interest from buyers.

May’s consolidation at possible support from $9.75 to $5.60 broke down with the rest of the market last month, turning this into likely resistance on future retests. This area now has confluence with the 9 and 18 EMAs.

If market conditions turn and this resistance breaks, an area near the midpoint of Q1 consolidation range, near $12.70, and the monthly high near $13.88 may see profit-taking from bulls.

The first test of possible support near $9.10 has showed some sensitivity. Still, continued bearishness in the market will likely cause a break of this level.

A break of this support might continue to drop to the next possible support near $8.70, running stops under the Q3 2021 swing low. If this level gives support and begins a consolidation forming a bottom, bulls might wait for a wick below to possible support from $8.25 to $7.96.

2. Green Satoshi Token (GST)

Green Satoshi Token GST is the game token of STEPN – a Web 3.0 lifestyle app with inbuilt fun social elements and gamification design. STEPN is the first move-to-earn NFT game where players earn GST tokens by walking, jogging and running outdoors while wearing NFT sneakers. GST tokens can also be used to level up and mint new sneakers, and players can sell/rent their NFT sneakers on the App Marketplace.

GST Price Analysis

At the time of writing, GST is ranked the 356^th cryptocurrency globally and the current price is US$0.9380. Let’s take a look at the chart below for price analysis:

Source: TradingView

GST has seen massive volatility recently as STEPN’s other coin, GMT, went on its parabolic run. GST’s price climbed 150% during April, dropped 80%, and is now retesting possible support.

Above the weekly open, $1.15 to $1.23 could provide resistance. Breaking through this resistance could reach near $1.30, which is approximately the midpoint of last month’s long upper wick. If the price breaks this level, last month’s high near $1.55 provides another reasonable target.

Bulls stepped in on each recent drop below $1.00. This level could provide support again and has confluence with the 18 EMA. A move below this level might see support near the 40 EMA and accumulation on the weekly, near $0.9061.

A more significant move down could target an old inefficiently traded area on the weekly between $0.8735 and $0.8267. The lower portion of this range, under $0.7681, may provide higher-probability support.

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 44^th cryptocurrency globally and the current price is US$89.85. 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 may cause bulls to be less aggressive in bidding. However, possible support near $86.47 and $82.96 – between the 41.8% and 58.6% retracements – could see at least a short-term bounce.

Last year’s long-term consolidation suggests that the areas near $129.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $120.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $136.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $145.32 might provide a ceiling for this impulse.

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Top 3 Coins to Watch Today: ZEC, SOL, SLP – April 25 Trading Analysis

Post author By Malik Junaid
Post date April 25, 2022

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. 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 50^th cryptocurrency globally and the current price is US$158.86. 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 $146.47 and $155.96 – between the 41.8% and 58.6% retracements – could see at least a short-term bounce.

Last year’s long-term consolidation suggests that the areas near $138.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $168.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $190.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $210.32 might provide a ceiling for this impulse.

2. 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 7^th cryptocurrency globally and the current price is US$99.11. Let’s take a look at the chart below for price analysis:

Source: TradingView

SOL has retraced 68% from its December highs and reached possible support last month near $89.34. Resistance might begin near $120.34, which has confluence with the 9 and 18 EMAs.

A more substantial rally might reach near the swing high at $110.23 and the 40 EMA. This high is less likely to break if bears plan to continue the downtrend without a lengthier consolidation.

While not highly probable in the current market conditions, a more animated move upward could reach a wide resistance area between $126.42 and $133.94. This zone is where the last movement down accumulated positions before breaking down.

Possible support rests near $96.34, which showed sensitivity on the last test. While it could provide support again, the higher-timeframe bearish trend is more likely to propel the price into an inefficient area between $91.10 and $87.54. If the price reaches this zone, the May 2021 swing high near $82.13 might mark a more sensitive level.

3. Smooth Love Potion (SLP)

Smooth Love Potion SLP tokens are earned by playing the Axie Infinity game. This digital asset serves as a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets known as Axies. The cost of breeding begins at 100 SLP but increases gradually, rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth, and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.

SLP Price Analysis

At the time of writing, SLP is ranked the 420^th cryptocurrency globally and the current price is US$0.01547. Let’s take a look at the chart below for price analysis:

Source: TradingView

SLP‘s 65% rally during Q1 ran into a 30% retracement near $0.01615. Since then, the price has been consolidating in a 40% range between $0.01424 and $0.02432.

Just below the late-March low, $0.01500 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near $0.01458 might cap a run on the lows near $0.01410 and $0.01385.

The higher-timeframe analysis points to the area near $0.02351 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $0.02827 and $0.03060 may be the next targets.

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Decred (DCR) Token Soars 45% in a Day Following Imminent Shift to Proof-of-Stake

Post author By Jana Serfontein
Post date April 20, 2022

Under-the-radar altcoin Decred (DCR) has defied the odds by soaring 45 percent in less than a day as the overall crypto market saw only red.

As most digital assets have undergone downward price action, DCR has confounded market conditions. The upsurge in price is mostly due to the protocol moving from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism.

When blocks are mined on the DCR, a portion of the fees goes to PoW miners while the stake voters also get a cut. A third, smaller portion goes to a Project Treasury fund, which is used to develop the protocol. But recently the community voted to change its current model.

PoS to Weed Out Malicious Actors

The community voted on a proposal to reduce the PoW mining rewards from 60 percent down to 10 percent in order to defend against “malicious miners” with a history of price manipulation. The community also agreed to raise the rewards for Decred’s PoS validators from 30 percent to 80 percent, suggesting that consensus wants to move away from PoW to PoS.

This simply means that Decred users would be incentivised for locking up their DCR for a certain amount of time, thereby reducing their active supply from the market, which could bolster the price:

pow and pos both have notable strengths, but we have found that the typically-overlooked risk of a mining cartel suppressing markets with its inventory is a massive downside to pow.

the revolution will not be suppressed #Decred
— Jake Yocom-Piatt (@behindtext) April 14, 2022

Jake Yocom-Piatt, project lead for Decred, tweeted the motivation behind the update:

A hidden risk we found with Decred’s PoW is that a malicious mining cartel can, instead of selling at market prices, accumulate a vast inventory of coins, which can then be wielded as a weapon against positive price action. While this risk has been exposed specifically with Decred, a similar strategy has likely been applied for every notable majority-PoW coin. People who care about PoW and its fairness should be aware of this hidden risk.
Jake Yocom-Piatt, project lead, Decred

Many Protocols Move to PoS

Protocols that have announced a move to a PoS consensus have subsequently surged in value. Last year, Zcash soared 30 percent when it announced its move to PoS. Ethereum also recently flagged a move to PoS but its so-called ‘Merge’ has been delayed until Q3 of 2022.

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Top 3 Coins to Watch Today: LTC, LUNA, ZEC – March 23 Trading Analysis

Post author By Malik Junaid
Post date March 23, 2022

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

1. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 20^th cryptocurrency globally and the current price is US$121.80. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, LTC kicked off a recovery trend that gained nearly 24% to break the weekly highs.

The following 60% plummet found support near $104.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $124.53.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $129.12, where aggressive bulls might begin bidding. The level near $137.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $152.13.

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $101.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $94.23 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. 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 7^th cryptocurrency globally and the current price is US$92.65. Let’s take a look at the chart below for price analysis:

Source: TradingView

LUNA showed significant strength in the face of a mostly bearish altcoin market, rallying over 90% in late February.

The price is currently retracing from resistance near $102.90, just below the all-time high. Bulls might begin eyeing entries near $82.00, which will soon be near the 18 EMA and between the 61.8% and 78.6% retracement levels of the last leg upward.

A deeper retracement might reach an inefficient zone and the 40 EMA under the last daily swing low, between $77.44 and $74.07. A move below this low suggests a more bearish shift in market structure. If this shift occurs, it could create a short setup to target possible support at the upmove’s accumulation zone, near $70.41.

While the price is retracing, $90.44 offers the closest probable resistance at the 2022 yearly open. Just above, near the March monthly open, the consolidation lows near $96.69 are also a reasonable candidate for resistance.

If the price breaks through these resistances, the significant resistance at $100.69 might also break and allow LUNA to set new all-time highs. However, bulls should keep in mind that the overall market is mostly bearish, decreasing the chances of a massive bullish breakout. If the price does break the all-time high and enter discovery, overlapping extensions near $128.40 offer a possible significant target.

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 50^th cryptocurrency globally and the current price is US$176.30. 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 $149.47 and $160.96 – between the 41.8% and 58.6% retracements – could see at least a short-term bounce.

Last year’s long-term consolidation suggests that the areas near $136.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $180.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $192.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $216.41 might provide a ceiling for this impulse.

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Privacy Coins XMR, ZCASH Surge Amid Political and Regulatory Uncertainty

Post author By Jody McDonald
Post date March 10, 2022

The past 24 hours has been kind to privacy coins, with many seeing gains of over 20 percent amid concerns about the regulatory environment in the US, a crackdown by exchanges on accounts linked to Russia, and ongoing economic sanctions.

Someone noticed this privacy coins and exploded all of sudden ✨ 💥 #xmr #monero #zec #xvg #zen #dash #Bitcoin pic.twitter.com/w2hROKyPMw
— Chets #Metaverse (@chets777) March 9, 2022

Privacy coins 👀
— Blockchain Backer (@BCBacker) March 8, 2022

Monero, the largest privacy coin by market cap, shot up 22 percent in under three hours according to CoinGecko, peaking at almost US$206 before consolidating around the US$185-190 range.

Likewise, Zcash is up over 30 percent since March 8, having climbed from US$106 and is currently trading at close to US$145, according to CoinGecko. This rally from Zcash follows a significant bounce in November 2021 after the announcement of plans to transition to a proof-of-stake blockchain.

Smaller Privacy Coins Also Up

The surge in privacy coins hasn’t been limited to the large caps; most smaller plays are also up significantly in the past day: Oasis has gained 10.4 percent, Secret is up 14.5 percent and Horizen 17 percent.

Even low-cap and relatively unknown privacy protocols are surging: Pirate Chain is up 18 percent, Tornado Cash 32.7 percent and Verge by 25 percent, all in the past 24 hours.

What Caused the Surge?

Opinion is divided on what exactly has sparked this sudden surge in privacy coins, and there are likely several factors at play.

The release of the crypto executive order by President Biden, with its focus on consumer protection and illicit activity along with the suspension by Coinbase of over 25,000 addresses linked to Russian criminals, are thought to be important factors.

There is also some speculation that Russian oligarchs may be buying up privacy coins to help them get around economic sanctions while maintaining their anonymity:

I regret not buying privacy coins in the last few days.

It was so obvious given all the sanctions that some of these oligarchs would buy them, smh
— Sachika-chan 🌸 (@sachikainvests) March 9, 2022

To put the surge in privacy coins in context, according to CoinMarketCap the overall crypto market cap is up around 4 percent over the past 48 hours.

Tags Privacy coins, Russia

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Top 3 Coins to Watch Today: ZEC, TLM, EGLD – March 2 Trading Analysis

Post author By Malik Junaid
Post date March 2, 2022

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. 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 60^th cryptocurrency globally and the current price is US$116.48. 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 $96.47 and $112.96 – 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 $88.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $125.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $140.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $158.41 might provide a ceiling for this impulse.

2. Alien Worlds (TLM)

Alien Worlds TLM is a decentralised, non-fungible token (NFT) metaverse where players compete for scarce resources of Trilium (TLM) in a simulated economy based around planetary worlds. Due to this, Alien Worlds also has a decentralised finance (DeFi) element to the game, as players advance by staking TLM and using TLM to vote in planetary Decentralised Autonomous Organisations (DAOs).

TLM Price Analysis

At the time of writing, TLM is ranked the 370^th cryptocurrency globally and the current price is US$0.1127. Let’s take a look at the chart below for price analysis:

Source: TradingView

TLM formed relatively equal lows near $0.09541 after dropping over 45% last month. These lows could provide the target for another leg down, possibly finding support in the monthly gap of around $0.09354.

If this sweep of the $0.09053 swing lows occurs, more aggressive bulls might begin bidding the weekly level near the swing low around $0.08944. Should the market take a more bullish turn, the level just below, near $0.08863, could provide some short-term support.

The steep drop left large areas of inefficient price action, making the daily gap up to $0.1436 likely to be touched or filled. A sustained move through this resistance could visit a significant area on the monthly and weekly chart near $0.1705.

3. Elrond (EGLD)

Elrond EGLD is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralised finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost. The blockchain has a native token known as eGold, or EGLD, that is used for paying network fees, staking, and rewarding validators.

EGLD Price Analysis

At the time of writing, EGLD is ranked the 40^th cryptocurrency globally and the current price is US$150.97. Let’s take a look at the chart below for price analysis:

Source: TradingView

EGLD‘s 45% retracement from its February highs set a low near $132.23 during its consolidation that began last week.

Relatively equal highs near $179.44 could be the current target if the price breaks through resistance beginning near $200.45. Bullish continuation might reach through the next significant swing high near $215.71 into the daily gap near $229.16.

If bullish strength continues, the zones just below the previous monthly open near $238.69 and $245.87 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $145.19 into possible support near $140.43. If this down move occurs, the swing low near $137.22 and possible support near $135.70 may be the primary objective.

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Bitcoin Cash Crypto News Market Analysis Stellar Trading Zcash

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

Post author By Malik Junaid
Post date December 1, 2021

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 22^nd 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 25^th 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 60^th 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.

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Zcash Soars 30% After Move to Proof-of-Stake Announcement

Post author By Robert Drage
Post date November 23, 2021

Privacy coin Zcash (ZEC) has seen a near 30 per cent rally after its parent organisation announced various upgrades to the protocol and its wallet to “engage directly with ZEC users [and] rapidly roll out new features”.

Electric Coin Company (EEC), the organisation behind Zcash, has released its new roadmap outlining various changes and upgrades to the protocol as well as a new wallet arriving sometime in 2022.

Originally based on Bitcoin’s codebase, Zcash’s supply is capped at 21 million coins with 13 million in circulation, with the market cap at around US$2.7 billion, according to CoinMarketCap. Shortly after releasing the roadmap, the price of ZEC rallied from US$147 to US$189, an increase of 28.6 percent, and at the time of writing was sitting at US$210.

Zcash Upgrades in the Pipeline

In the blog post, ECC stated that the first step of its roadmap would be the release of an official wallet, the code of which will be open-source. Developers intending to develop on the protocol can also expect the release of a software development kit in the near future.

Past indications to move Zcash to Proof-of-Stake (PoS) have come to fruition, with the ECC announcing it will migrate the blockchain from an energy-intensive Proof-of-Work (PoW) consensus mechanism, whereby miners need to run software on a computer in order to validate transactions and those with the most computing power validate the most transactions. The ECC announcement suggests that users would be able to stake a portion of their ZEC holdings into a dedicated Zcash smart contract to become validators on its blockchain, according to the size of their stake.

This shift will also increase the utility for ZEC through capabilities that include yield generation through staking and a possible path to on-chain governance mechanisms for ZEC HODLers.
Josh Swihart, senior vice-president of growth, ECC

The last part of ECC’s roadmap focuses on interoperability. As the company completes the transition to a proof-of-stake model, new opportunities for cross-chain interoperability will arise, such as possibly using the interoperability network Cosmos.

Privacy a Pillar of Web 3.0

In this new internet, each individual is self-sovereign. There are no centralised gatekeepers to decide who can participate. There are no kingmakers who determine who wins and who loses.
ECC blog

By using cryptographic techniques, ZEC can obscure identifying information such as addresses and transaction amounts from anyone that’s not allowed to see. The coin uses a cryptographic technique called zero-knowledge proofs, which allows transactions to be made without specifying any details about those transactions other than the fact that they are legitimate. The protocol also allows users to make all their transactions anonymous, except to a specified list of addresses.

Zcash is the opposite: a decentralized, functional chain with a specific (and useful) purpose: enabling private transactions, something it does extremely well, even now (years later). I actually used it back then, and it worked.
— Edward Snowden (@Snowden) November 21, 2021