Top 3 Coins To Watch Today: BAND, DAG, VGX August 10 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 the main medium of exchange on BandChain being used to pay for private data.

BAND Price Analysis

At the time of writing, BAND is ranked the 164^th cryptocurrency globally and the current price is A$9.99. Let’s take a look at the chart below for price analysis:

BAND’s nearly 83% drop from its April highs found a low near A$5.54 in June before closing over a short-term high around A$9.77 last week.

This daily close over the high could signal a shift in market structure that might reach probable resistance near A$12.08. A sustained bullish move may target the swing high at A$13.62. If this stop run occurs, a run beyond the high into probable resistance near A$13.98 and A$15.27 is possible.

Bulls could buy a retracement to possible support near A$9.47, just above the August monthly open. A bearish turn in the marketplace may propel the price toward possible support near A$6.62. 

However, relatively equal lows near A$5.21 and A$4.00 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between A$3.40 and A$4.00.

2. Constellation (DAG)

Constellation DAG technology is an alternative system that allows cryptocurrencies to function similarly to those that utilise blockchain technology without the need for blocks and miners. A DAG is very similar to this peer grading system. Instead of having large mining firms confirming transactions via proof of work, DAG employs the very transactions that users make in order to confirm each others’ transactions. DAG is essentially a distributed peer-confirming system at scale.

DAG Price Analysis

At the time of writing, DAG is ranked the 154^th cryptocurrency globally and the current price is A$0.2962. Let’s take a look at the chart below for price analysis:

DAG’s massive July spike retraced near A$0.1730 into the consolidation that began the impulse before bouncing to A$0.3340. 

This consolidation could provide support again, although bears would first have to push the price through possible support near A$0.2679. The market’s structure may be shifting bearish, with A$0.2851 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near A$0.1568 before finding support near A$0.1241.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near A$0.3341 potentially giving an attractive target to lure the price over the August monthly open. If so, the price could reach for the midpoint of the massive July wick near A$0.3864.

3. Voyager Token (VGX)

Voyager Token VGX is a cryptocurrency broker that provides investors with a trusted and secure access point to crypto asset trading. Voyager is built to serve both retail and institutional investors with a nigh-instant solution for trading crypto assets. The native token of the brokerage, Voyager Token VGX, is used to reward users within the Voyager ecosystem. VGX also generates interest when held in the Voyager app, and offers cashback rewards and other services exclusive to Voyager users.

VGX Price Analysis

At the time of writing, VGX is ranked the 90^th cryptocurrency globally and the current price is A$5.04. Let’s take a look at the chart below for price analysis:

NOTE: VGX is listed as BQX on Binance

VGX set a high near A$10.65 in February before retracing nearly 83% to find a low near A$1.84. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near A$4.71 is slowing the bullish advance down. However, another leg might target the last swing high at A$5.84 and relatively equal highs at A$6.73. Resistance near A$6.12 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near A$8.84.

A retracement before a move higher might find support in the daily gap near A$3.64, just above the August monthly open. Relatively equal lows near A$2.95 could also provide support. A run-on stop at A$2.09 and A$1.84 might find support in the gap beginning near A$1.59 or a high-timeframe level near A$1.15.

Where to Buy or Trade Altcoins?

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