Category: Zilliqa

Top 3 Coins to Watch Today: XMR, ZIL, IOTX – August 25 Trading Analysis

Post author By Malik Junaid
Post date August 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. Monero (XMR)

Monero XMR allows transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography. The team behind Monero says privacy and security are its biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users, irrespective of how technologically competent they are.

XMR Price Analysis

At the time of writing, XMR is ranked the 28^th cryptocurrency globally and the current price is US$151.23. Let’s take a look at the chart below for price analysis:

Source: TradingView

XMR is rallying to fill in pockets of inefficient trading left during its June decline. The closest resistance is at $172.80. This area of inefficient trading on the weekly and daily charts is near the 61.8% retracement of June’s move. It rejected the price on August 7, but the price is rechallenging it.

If it breaks, the next pocket of inefficient trading from $179.60 to $183.10 may be the following target. This zone is also near the high of inefficient trading on the weekly and the 78.6% retracement of June’s move.

In the longer term, bulls could be targeting bears’ stops above the significant weekly swing high near $206.50. This zone also shows inefficient trading on the monthly chart. If this resistance breaks, the next bullish target may be another area of inefficient trading on the weekly chart from $232.50 to $227.80.

The closest support could be near the current price, from $160.40 to $150.03. This area is at the end of July’s accumulation high. If this level breaks, a drop under the August monthly open may find more buyers near $142.30. This area shows accumulation, would run bulls’ stops under recent swing lows, and fill in a tiny pocket of inefficient trading. It also has confluence with the high of previous inefficient trading on the weekly chart.

A steeper drop may reach inefficient trading on the weekly chart, from $134.70 to $125.80. This zone is also near the bottom of previous inefficient trading from June and lines up with old swing lows from Q1 2022.

2. Zilliqa (ZIL)

Zilliqa ZIL is a public, permissionless blockchain designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralised applications, and it also allows for staking and yield farming. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

ZIL Price Analysis

At the time of writing, ZIL is ranked the 77^th cryptocurrency globally and the current price is US$0.03883. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s 85% drop found a low near $0.03168 before closing over a weekly high around $0.04382. This daily close over the high could signal a shift in market structure that may reach probable resistance near $0.04732.

A sustained bullish move could target the swing high at $0.05620. If this stop run occurs, a run beyond the high into probable resistance near $0.06184 and $0.06745 is possible.

Bulls could buy a retracement to possible support near $0.03528, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.03126.

However, relatively equal lows near $0.02914 and $0.02854 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows may find support between $0.02715 and $0.02569.

3. IoTeX (IOTX)

IoTeX IOTX has built a decentralised platform with the aim of empowering the open economics for machines – an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives. IoTeX is the decentralised backbone for machine economics, which serves machines ranging from smart home devices to autonomous vehicles.

IOTX Price Analysis

At the time of writing, IOTX is ranked the 108^th cryptocurrency globally and the current price is US$0.03144. Let’s take a look at the chart below for price analysis:

Source: TradingView

By late Q2, IOTX had retraced 80% from its November high as it created relatively equal lows near $0.02506. Just above these lows, the price is testing possible support near $0.03145. This level saw accumulation in early August and could support at least a short move upward.

If this level instead breaks and the price drops, bears could be aiming for an inefficiently traded area between $0.02915 and $0.02827. This area is under multiple relatively equal lows that have been in place since late Q3 2021, providing an appealing target for bears.

However, a move into probable resistance near $0.03825 could occur first, even if the price later breaks down. This level is a range high for a significant amount of trading during Q1 2022.

If this resistance breaks, the price could reach the next probable resistance near $0.04516, where it consolidated before mid-Q2’s breakdown.

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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: BAT, ORN, ZIL – June 27 Trading Analysis

Post author By Malik Junaid
Post date June 27, 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. Basic Attention Token (BAT)

Basic Attention Token BAT is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention while providing advertisers with a better return on their ad spend. The Basic Attention Token itself is the unit of reward in this advertising ecosystem and is exchanged between advertisers, publishers and users. Advertisers pay for their advertising campaigns in BAT tokens. Out of this budget, a small portion is distributed to advertisers, while 70% is distributed to users – whereas the intermediaries that typically drive up advertising costs are cut out of the equation to improve cost-efficiency.

BAT Price Analysis

At the time of writing, BAT is ranked the 68^th cryptocurrency globally and the current price is US$0.4032. Let’s take a look at the chart below for price analysis:

Source: TradingView

BAT has dropped nearly 70% from its Q2 2022 high and 82% from its November 2021 all-time high.

Support might have formed last week from $0.3834 to $0.3565 and should hold if bulls are ready for a bounce. This zone overlaps with an inefficiently traded area on the weekly chart from $0.3763 to $0.3294.

If this level breaks, bears might target an inefficiently traded area on the monthly chart from $0.3047 to $0.2732. Below this level, $0.2545 to $0.2380 could provide support after a run on bulls’ stops under the Q4 2020 lows into an area of significant accumulation.

The closest resistance begins near $0.4583. This level has confluence with the 9 EMA and a brief consolidation before May 11’s spike downward.

A more significant rally might find resistance near $0.5140. This level is inefficiently traded and has confluence with the lows of last summer’s accumulation and the 18 EMA.

If the market becomes more bullish, $0.6146 may provide the next resistance. This level is slightly above the May monthly open, overlaps with multiple old lows and aligns with the 40 EMA.

2. Orion Protocol (ORN)

Orion ORN aims to solve the difficulties in performing profitable transactions associated with the lack of liquidity on the majority of crypto exchanges. This is the case for both centralised and decentralised exchanges. Orion’s solution to this is to aggregate exchanges’ order books into one simple-to-use-and-understand terminal. The Orion Protocol’s goal is to help users get the best returns out of their investments while also lowering the risks associated with using multiple exchanges.

ORN Price Analysis

At the time of writing, ORN is ranked the 397^th cryptocurrency globally and the current price is US$1.30. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 75% retracement from its April highs, ORN found a temporary low near $1.20. A recent move above $1.49 could be the first sign of a bullish shift – but could also signal a stop run before the next drop lower.

If the market adopts a more bullish tone, the price could run through the most recent swing high. If this bounce occurs, it would likely find some resistance near $1.63, possibly reaching up to $1.85.

However, a move below the closest support near $1.25 makes stop runs on the swing lows near $1.21 and $1.18 likely. A confluence of several levels near $1.16 could provide a temporary bounce. Still, a sustained bearish market will likely target $1.12 and even $1.00.

3. Zilliqa (ZIL)

ZIL Price Analysis

At the time of writing, ZIL is ranked the 67^th cryptocurrency globally and the current price is US$0.04687. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s 85% drop found a low near $0.03368 before closing over a weekly high around $0.04682. This daily close over the high could signal a shift in market structure that might reach probable resistance near $0.06032.

A sustained bullish move may target the swing high at $0.05860. If this stop run occurs, a run beyond the high into probable resistance near $0.06384 and $0.06645 is possible.

Bulls could buy a retracement to possible support near $0.04258, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.03926.

However, relatively equal lows near $0.03714 and $0.03524 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.03315 and $0.03069.

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Top 3 Coins to Watch Today: AVAX, ZIL, RUNE – May 13 Trading Analysis

Post author By Malik Junaid
Post date May 13, 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. Avalanche (AVAX)

AVAX is the native token of Avalanche. It is a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche.

AVAX Price Analysis

At the time of writing, AVAX is ranked the 13^th cryptocurrency globally and the current price is US$29.82. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s 70% gains during Q1 ended with an almost 49% retracement as the rest of the altcoin market dropped from last week. Bulls stepped in near the 52.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $44.35.

With the 9, 18 and 40 EMAs stacked bullish and a bullish higher-timeframe trend, it’s reasonable to anticipate retracement to possible support before further bullish expansion.

Near the 40 EMA, a broad zone from $38.15 to $30.45 could see interest from bulls before further expansion. If this level fails, bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 70% retracement, at $27.70, and potentially lower to a higher-timeframe support zone between $25.42 and $23.80.

If the higher-timeframe recovery trend resumes and the current resistance near $44.35 breaks, the wicks near $48.84 and the new monthly highs may see profit-taking.

2. Zilliqa (ZIL)

ZIL Price Analysis

At the time of writing, ZIL is ranked the 77^th cryptocurrency globally and the current price is US$0.04601. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s 80% drop found a low near $0.04238 before closing over a weekly high around $0.05082. This daily close over the high could signal a shift in market structure that might reach probable resistance near $0.05732.

A sustained bullish move may target the swing high at $0.05960. If this stop run occurs, a run beyond the high into probable resistance near $0.06288 and $0.06445 is possible.

Bulls could buy a retracement to possible support near $0.04018, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.03876.

However, relatively equal lows near $0.03734 and $0.03624 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.03415 and $0.03266.

3. THORChain (RUNE)

ThorChain RUNE is a decentralised liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process. The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem and is also used for platform governance and security as part of THORChain’s Sybil resistance mechanisms – since THORChain nodes must commit a minimum of 1 million RUNE to participate in its rotating consensus process.

RUNE Price Analysis

At the time of writing, RUNE is ranked the 55^th cryptocurrency globally and the current price is US$2.90. Let’s take a look at the chart below for price analysis:

Source: TradingView

RUNE abruptly rallied after retracing nearly 60% from its November highs, climbing 90% during early March.

Bears are currently taking shorts in a contested area between $2.70 and $3.23. This area saw inefficient trading on higher timeframes. It could serve as support if the price trades through its high end and retests it – or as resistance if the price breaks back below.

The closest support rests just below, near $2.63. The old high at this level could support a rally into resistance near $2.95.

A move through the closest resistance might target the consolidation midpoint near $3.25, near the 29% extension of the current rally. If this level breaks, bulls might target an inefficient area near $3.45 and beyond.

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Top 3 Coins to Watch Today: ALGO, NEAR, ZIL – April 14 Trading Analysis

Post author By Malik Junaid
Post date April 14, 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. Algorand (ALGO)

The Algorand ALGO blockchain is a permissionless, pure proof-of-stake blockchain protocol. Unlike Proof-of-Work (PoW) blockchains, where the root block must be validated by randomly selected validators (using computing power), in the pure proof-of-stake approach all of the validators are known to one another and only have to agree on the next block in order to create a new block. Algorand was invented to speed up transactions and improve efficiency in response to the slow transaction times of Bitcoin and other blockchains.

ALGO Price Analysis

At the time of writing, ALGO is ranked the 30^th cryptocurrency globally and the current price is US$0.7426. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during last month, ALGO gained nearly 20% into resistance that starts near $0.9322.

Swing traders looking for a continuation to the nearest cluster of relatively equal highs around $1.12 might look for bids near $1.06. More significant resistance rests above, near $1.18. A group of significant swing highs at $1.20 and $1.26 give possible targets if this resistance breaks.

A stop run on the recent low at $0.7065 into possible support beginning near $0.6630 might see stronger bidding. This area also has a confluence with the recent monthly lows.

2. 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 17^th cryptocurrency globally and the current price is US$16.74. Let’s take a look at the chart below for price analysis:

Source: TradingView

After its uptrend during Q1, NEAR has retraced 20% from its highs to support at the retracement of around $15.15.

The price shifted market structure to run to the consolidation lows near $14.51, just under the monthly open. Continued bullishness in the market may create support just below, between $14.00 and $13.45.

Bulls might show more interest if the price retraces near the February open, around $13.00. Continued bearishness could see the price reach into old support around $12.55.

On the other hand, if the current resistance breaks, the price might find resistance near $21.98, whereas mid-January buyers may still be trapped in longs.

3. Zilliqa (ZIL)

ZIL Price Analysis

At the time of writing, ZIL is ranked the 70^th cryptocurrency globally and the current price is US$0.1091. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s 65% drop during Q1 found a low near $0.04038 before closing over a monthly high around $0.1482 with massive gains. This daily close over the high could signal a shift in market structure that might reach probable resistance near $0.1637.

A sustained bullish move may target the swing high at $0.1864. If this stop run occurs, a run beyond the high into probable resistance near $0.1988 and $0.2045 is possible.

Bulls could buy a retracement to possible support near $0.1018, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.09376.

However, relatively equal lows near $0.08834 and $0.08224 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.07815 and $0.07766.

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Top 3 Coins to Watch Today: ZIL, SC, AVAX – March 28 Trading Analysis

Post author By Malik Junaid
Post date March 28, 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. Zilliqa (ZIL)

ZIL Price Analysis

At the time of writing, ZIL is ranked the 70^th cryptocurrency globally and the current price is US$0.1134. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s 60% drop during Q1 found a low near $0.04138 before closing over a weekly high around $0.09872.

This daily close over the high could signal a shift in market structure that might reach probable resistance near $0.1237. A sustained bullish move may target the swing high at $0.1364. If this stop run occurs, a run beyond the high into probable resistance near $0.1588 and $0.1645 is possible.

Bulls could buy a retracement to possible support near $0.1058, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.09536.

However, relatively equal lows near $0.08934 and $0.08824 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.08615 and $0.08566.

2. Siacoin (SC)

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

SC Price Analysis

At the time of writing, SC is ranked the 120^th cryptocurrency globally and the current price is US$0.01177. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 70% decline from December, SC has ranged between $0.008723 and $0.01165.

The recent rally is approaching probable resistance near $0.01290 but could be aiming for stops above the relatively equal highs near $0.01430. Continuation of the bullish move could target the daily gap near $0.01624.

Aggressive bulls might add to positions near $0.01130 and $0.01094. Price action near $0.01012 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $0.009743 seem likely to be swept if the bearish trend resumes. If this move occurs, the price might find support at the significant higher-timeframe level near $0.009375.

3. Avalanche (AVAX)

Avalanche AVAX is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low-cost, and green. Any smart contract-enabled application can outperform its competition on Avalanche. AVAX is the native token of Avalanche. It is a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche.

AVAX Price Analysis

At the time of writing, AVAX is ranked the 10^th cryptocurrency globally and the current price is US$86.06. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s 55% gains in February ended with an almost 25% retracement as the rest of the altcoin market dropped during early March. Bulls stepped in near the 51.8% retracement of Q4’s move, creating a consolidation that ended with last week’s bullish impulse to resistance near $89.35.

With the 9, 18 and 40 EMAs stacked bullish and a bullish higher-timeframe trend, it’s reasonable to anticipate retracement to possible support before further bullish expansion.

Near the 40 EMA, a broad zone from $70.15 to $67.45 could see interest from bulls before further expansion. If this level fails, bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 65% retracement, at $63.74, and potentially lower to a higher-timeframe support zone between $58.42 and $55.73.

If the higher-timeframe bullish trend resumes and the current resistance near $97.35 breaks, the wicks near $109.84 and the new monthly highs might see profit-taking.

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Top 3 Coins to Watch Today: NEO, VET, ZIL – February 18 Trading Analysis

Post author By Malik Junaid
Post date February 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. Neo (NEO)

NEO bills itself as a “rapidly growing and developing” ecosystem with the goal of becoming the foundation for the next generation of the internet – a new economy where digitised payments, identities and assets come together. As well as creating a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operates an EcoBoost initiative that’s designed to encourage people to build decentralised apps and smart contracts on its blockchain.

NEO Price Analysis

At the time of writing, NEO is ranked the 59^th cryptocurrency globally and the current price is US$24.52. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during late January, NEO has gained nearly 15% into resistance that starts near $30.12.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $32.33 might look for bids near $21.86. More significant resistance rests above, near $26.15. A group of significant swing highs at $28.36 and $30.23 give possible targets if this resistance breaks.

A stop run on the recent low at $20.11 into possible support beginning near $19.23 might see stronger bidding. This area also has a confluence with the previous monthly low.

A bearish market shift could reach the swing low at $18.30 into possible support beginning near $16.84.

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 39^th cryptocurrency globally and the current price is US$0.05724. Let’s take a look at the chart below for price analysis:

Source: TradingView

VET‘s 70% move during late October ran into resistance near $0.1730, at the 27% extension of the Q3 swing.

An old high and the 18 EMA have provided support near $0.05933 and might give support again on a retest. This area also has confluence with the 50% and 61.8% retracements of November’s swing.

Just below, near $0.05393, the 61.8% retracement of the current Q4 swing might also mark an area of support.

If the market remains bearish, $0.04962 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.07018, at the 50% extension of the summer’s swing, could see some profit-taking if bulls break the current resistance near $0.06278. Above, old consolidations near $0.06425 and $0.06682 might also provide some resistance before another round of price discovery.

3. Zilliqa (ZIL)

Zilliqa ZIL is a public, permissionless blockchain designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralised applications, and as of October 2020 it also allows for staking and yield farming. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

ZIL Price Analysis

At the time of writing, ZIL is ranked the 110^th cryptocurrency globally and the current price is US$0.0486. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s nearly 75% drop from its December highs found a low near $0.04538 in January before closing over a short-term high around $0.05372.

This daily close over the high could signal a shift in market structure that might reach probable resistance near $0.05233. A sustained bullish move may target the swing high at $0.05647. If this stop run occurs, a run beyond the high into probable resistance near $0.06188 and $0.06450 is possible.

Bulls could buy a retracement to possible support near $0.04589, just above the monthly open. A bearish turn in the marketplace may propel the price toward possible support near $0.04436.

However, relatively equal lows near $0.04294 and $0.04124 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.04015 and $0.03966.

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Top 3 Coins To Watch Today: ZIL, CELR, EOS – September 16 Trading Analysis

Post author By Malik Junaid
Post date September 16, 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. Zilliqa (ZIL)

Zilliqa ZIL is a public, permissionless blockchain designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralised applications, and as of October 2020 it also allows for staking and yield farming. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

ZIL Price Analysis

At the time of writing, ZIL is ranked the 85^th cryptocurrency globally and the current price is A$0.1492. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s nearly 83% drop from its May highs found a low near A$0.09538 in July before closing over a short-term high around A$0.1237.

This daily close over the high could signal a shift in market structure that might reach probable resistance near A$0.1533. A sustained bullish move may target the swing high at A$0.1647. If this stop run occurs, a run beyond the high into probable resistance near A$0.1788 and A$0.1950 is possible.

Bulls could buy a retracement to possible support near A$0.1389, just above the August monthly open. A bearish turn in the marketplace may propel the price toward possible support near A$0.1236.

However, relatively equal lows near A$0.1194 and A$0.1124 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between A$0.1015 and A$0.1066.

2. Celer Network (CELR)

The Celer Network CELR is a smartly designed layer-2 scaling solution that provides off-chain transaction handling. The Celer platform offers fast, simple and secure off-chain transactions for both payments and smart contracts. The project was among the first to be developed using the Substrate framework and is part of the Polkadot ecosystem. As to the overall goal of the network, its founders envisioned unleashing the full potential of blockchain and revolutionising Dapps with more efficient and productive outputs.

CELR Price Analysis

At the time of writing, CELR is ranked the 125^th cryptocurrency globally and the current price is A$0.1249. Let’s take a look at the chart below for price analysis:

Source: TradingView

CELR‘s massive May spike retraced near A$0.03841 into the consolidation that began the impulse before bouncing to A$0.04266.

This consolidation could provide support again, although bears would first have to push the price through possible support near A$0.1045. The market’s structure may be shifting bearish, with A$0.09365 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near A$0.08973 before finding support near A$0.08456.

However, the bullish higher-timeframe trend may prevail, with relatively equal highs near A$0.1290 potentially providing an attractive target to lure the price over the September monthly high. If so, the price could reach for the midpoint of the massive wick near A$0.1377.

3. Eos (EOS)

EOS is a platform designed to allow developers to build decentralised apps. The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology and ensure the network is easier to use than rivals. As a result, tools and a range of educational resources are provided to support developers who want to build functional apps quickly. EOS also aims to improve the experience for users and businesses. While the project tries to deliver greater security and less friction for consumers, it also vies to unlock flexibility and compliance for enterprises.

EOS Price Analysis

At the time of writing, EOS is ranked the 38^th cryptocurrency globally and the current price is A$6.70. Let’s take a look at the chart below for price analysis:

Source: TradingView

EOS set a high near A$18.34 in May before retracing nearly 93% to find a low near A$6.10. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near A$6.90 is slowing the bullish advance down. However, another leg might target the last swing high at A$7.24 and relatively equal highs at A$7.86. Resistance near A$8.15 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near A$8.94.

A retracement before a move higher might find support in the daily gap near A$6.05, just above the August monthly open. Relatively equal lows near A$5.83 could also provide support. Run-on stops at A$5.32 and A$5.08 might find support in the gap beginning near A$4.91 or a high-timeframe level near A$4.56.

Where to Buy or Trade Altcoins?

Crypto News ICON Market Analysis Trading Zilliqa

Top 3 Coins To Watch Today: ICX, RAY, ZIL – August 31 Trading Analysis

Post author By Malik Junaid
Post date August 31, 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. ICON (ICX)

ICON ICX is a decentralised blockchain network focused on interoperability. With ICON’s “blockchain transmission protocol”, independent blockchains like Bitcoin and Ethereum can connect and transact with each other. This opens up cross-chain use cases that are impossible without an interoperability layer such as ICON. The ICON blockchain is powered by loopchain, a blockchain engine designed by ICONLOOP.

ICX Price Analysis

At the time of writing, ICX is ranked the 104^th cryptocurrency globally and the current price is A$1.85. Let’s take a look at the chart below for price analysis:

Source: TradingView

During August, ICX broke several swing highs that could be the signal for a new bullish trend.

Last week’s break of the most recent swing low could suggest some downside in the short term. It formed probable resistance near A$1.93 and may target the swing low and possible support near A$1.72.

The swing low and possible support near A$1.48 could be the second bearish target if the move down continues. The relatively equal lows near A$1.38 and possible support underneath, near A$1.29, could provide more substantial support.

The last swing high near A$2.21 gives a near-term target if bullish continuation continues. However, resistance beginning around A$2.24 could cap this move. A break of this resistance might continue to probable resistance near A$2.93 and reach above the cluster of relatively equal highs near A$3.13.

2. Raydium (RAY)

Raydium RAY is an automated market maker AMM and liquidity provider built on the Solana blockchain for the Serum decentralised exchange DEX. Unlike any other AMMs, Raydium provides on-chain liquidity to a central limit orderbook, meaning that funds deposited into Raydium are converted into limit orders which sit on Serum’s orderbooks. This gives Raydium LPs access to all of Serum’s order flow as well as their existing liquidity.

RAY Price Analysis

At the time of writing, RAY is ranked the 220^th cryptocurrency globally and the current price is A$16.46. Let’s take a look at the chart below for price analysis:

Source: TradingView

Mid-July marked a turning point for RAY, with the price rocketing up almost 425% from its lows to probable resistance beginning near A$17.58.

The price is currently struggling with the area between A$11.75 and A$15.39. 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 A$13.94. A more bearish shift in the marketplace will likely aim for the relatively equal lows near A$9.17, and the potential support just below that begins around A$8.88.

Continuation to the upside will likely target the all-time high near A$22.34. However, probable resistance beginning at A$17.58 and A$20.82 could cap or slow down this move.

3. Zilliqa (ZIL)

Zilliqa ZIL is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralised applications, and it also allows for staking and Yield farming. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

ZIL Price Analysis

At the time of writing, ZIL is ranked the 84^th cryptocurrency globally and the current price is A$0.1489. Let’s take a look at the chart below for price analysis:

Source: TradingView

In mid-July, ZIL also turned the corner, breaking a key swing high in early August. This move could suggest a longer-term bullish trend.

The swing high near A$0.2155 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near A$0.2603.

Even if the bullish trend continues, a stop run at the recent swing low near A$0.1473 into possible support beginning near A$0.1496 is reasonable. If the price reaches further down, the swing low and possible support near A$0.1154 might provide another downside target.

The area near A$0.08936 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near A$0.07142 into possible support beginning around A$0.06199.

Where to Buy or Trade Altcoins?

Crypto News Lisk Market Analysis Tezos Trading Zilliqa

Altcoins Trading Analysis – 3 Coins that Might Breakout this Week: LSK, XTZ, ZIL

Post author By Malik Junaid
Post date December 30, 2020

For today’s trading news, we’re looking at three altcoins that might breakout by showing bullish trends in the charts.

1. LISK (LSK)

Lisk (LSK), founded in early 2016 by Max Kordek and Oliver Beddows and headquartered in Zug, Switzerland, is a blockchain application platform that seeks to make blockchain technology more accessible to the masses. Lisk focuses on user experience, developer support, and in-depth documentation. Lisk’s SDK kit is written in JavaScript so as to allow developers to easily build blockchain applications on the Lisk blockchain and even deploy their own sidechain linked to the Lisk network. The open-source Lisk blockchain platform is powered by Lisk (LSK) tokens and operates under the Delegated Proof of Stake (DPoS) consensus model to allow for its network to be secured by democratically elected delegates.

LISK Price Analysis

At the time of writing, LSK is ranked 86th cryptocurrency globally and the current price is $1.50 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

After a November rally, LSK dropped to support near the 70.5% retracement during December. Currently, the price is accumulating at a significant monthly level after running stops near the weekly support at $1.34 AUD.

A Q1 2021 Altcoins season could make the current region an excellent entry opportunity for bulls, with any quick drops to the supports near $1.34 AUD and $1.27 AUD giving even higher risk-reward entries.

The relatively equal highs on the daily chart near $1.65 AUD provide a highly probable first target. If the price breaks the December monthly open, the relatively equal highs near $1.90 AUD provide the next target.

The swing high at $1.76 AUD provides a third target for an extended rally, although some resistance starting at $1.74 AUD could slow down bulls before reaching the fourth target near $2.35 AUD.

2. Tezos (XTZ)

Tezos is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked 19th cryptocurrency globally and the current price is $2.70 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

Last week, XTZ swept stops below the Q4 support near $1.98 AUD before quickly bouncing into support between $2.25 AUD and $2.17 AUD.

The upward speed of this move back into support shows that buyers are eager to enter, suggesting that more upward movement might be coming.

If the price breaks resistance near $2.93 AUD, just below the monthly open, the equal highs near $3.14 AUD provide an appealing first target. Bullish continuation through the resistance beginning at $3.27 AUD would hint that the next target is the swing high near $3.56 AUD.

Beyond this target, the resistance beginning at $3.98 AUD could be strong enough to halt the bull run. If this resistance breaks, a parabolic rise through the highs might reach the mid-August.

3. Zilliqa (ZIL)

Zilliqa is a public, permissionless Blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications, and as of October 2020, it also allows for staking and yield farming.

ZIL Price Analysis

At the time of writing, ZIL is ranked 34th cryptocurrency globally and the current price is $0.1286 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

ZIL has already climbed over +275% since its December low, but altcoins sometimes run far beyond what most traders expect.

The price recently retested the 62% retracement of the last swing high and low on the four-hour chart, suggesting that some bulls are still looking for more upside.

If this retest proves to be the local low, overlapping extensions from this pattern and the December move point to the areas around $0.0988 AUD, $0.1421 AUD, $0.1645 AUD, and $0.1935 AUD being the next probable take-profit zones.

If the price instead drops below the weekly open to fill the daily chart gap, the range beginning at $0.0828 AUD could prove as support. More substantial support starts at $0.0621 AUD, while the consolidation preceding this bull run at $0.0543 AUD marks a likely re-accumulation zone.

Where to Buy or Trade Altcoins?

These 3 Altcoins have the highest liquidity on Binance Exchange so that would help for trading on USDT or BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

Crypto News IOTA Market Analysis Trading Zilliqa

Altcoins Trading Analysis – 3 Coins that Might Breakout Today: IOTA, UNI, ZIL

Post author By Malik Junaid
Post date December 21, 2020

For today’s trading news, we’re looking at three altcoins that might breakout by showing bullish trends in the charts.

1. IOTA (MIOTA)

IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked 31st cryptocurrency globally and the current price is $0.4395 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

The first half of December retraced most of IOTA’s November gains – but are bulls accumulating for the next move upward? Last Friday, the price bounced from a significant weekly level near $0.3758 AUD as it swept stops below the low near $0.3852 AUD. This move could be setting the stage for the first crack at resistance just under the December monthly open near $0.4105 AUD.

If this price move occurs, bulls will likely find entries at probable support near $0.3758 AUD – confluent with a significant monthly level. If this level breaks instead, bulls can anticipate support near the consolidation range’s midpoint around $0.3471 AUD.

A break of the monthly open makes the relatively equal highs near $0.4961 AUD a likely target. Continuation from this level could lead to the next resistance near $0.5247 AUD and on to the monthly high at $0.5562 AUD.

2. UniSwap (UNI)

UniSwap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance DeFi tokens. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges.

UNI Price Analysis

At the time of writing, UNI is ranked 29th cryptocurrency globally and the current price is $5.08 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

UNI’s chart paints a similar picture to IOTA’s setup, with last Friday’s price bouncing from the support near 3.82 AUD.

The daily chart shows a gap from $4.56 to $4.39 AUD. Price tends to fill gaps quickly. This phenomenon means that bulls could anticipate a move through the gap and relatively equal highs near $4.39 AUD towards the resistance at monthly open around $4.64 AUD.

A retest of probable support at $4.23 AUD would give bulls an entry to target a move toward the highs. If the price sweeps the most recent swing low first, this could provide a lower-risk entry opportunity near $3.91 AUD.

Breaking the monthly open adds the relatively equal highs near $6.22 AUD to the list of targets, with a move through this level possibly continuing to the November monthly high near $6.79 AUD.

3. Zilliqa (ZIL)

ZIL Price Analysis

At the time of writing, ZIL is ranked 45th cryptocurrency globally and the current price is $0.0596 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

ZIL’s nearly +120% November rally has been cooling off during December – but may now be accumulating before the next leg up.

Bulls stepped in at last weekend’s retest of the December monthly open, suggesting that larger buyers are still active in the current price range.

However, this retest created equal lows above support starting at $0.0475 AUD, which could hint at a near-term sweep of these lows. If this happens, bulls may have an excellent entry – overlapping with the +62% retracement – to target resistance beginning at $0.0653 AUD.

A break of this resistance and the high just above at $0.0628 AUD leaves thin air for bulls to explore. Traditional Fibonacci projection techniques can provide anticipatory targets, with a first target at the +127% extension near $0.0784 AUD.