Top 3 Coins to Watch Today: EOS, UNI, FIL – November 10 Trading Analysis

November 10, 2021, 8:00 AM AEST - 2 weeks ago

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. 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 40th cryptocurrency globally and the current price is US$5.29. Let’s take a look at the chart below for price analysis:

Source: TradingView

After an 81% decline from May to July, EOS has ranged between US$4.23 and $6.45.

The recent rally is approaching probable resistance near $5.49 – but could be aiming for stops above the relatively equal highs near $5.37. Continuation of the bullish move could target the daily gap near $5.84.

Aggressive bulls might add to positions near $5.19 and $5.10. Price action near $5.00 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $4.90 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 $4.82.

2. Uniswap (UNI)

Uniswap UNI is a popular decentralised trading protocol known for its role in facilitating the automated trading of decentralised 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. Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralised exchanges.

UNI Price Analysis

At the time of writing, UNI is ranked the 15th cryptocurrency globally and the current price is US$27.49. Let’s take a look at the chart below for price analysis:

Source: TradingView

UNI‘s 65% retracement from its August highs set a low near $20.41 during its consolidation that began in mid-September.

Relatively equal highs near $30.56 could be the current target if the price breaks through resistance beginning near $31.87. Bullish continuation might reach through the next significant swing high near $33.76 into the daily gap near $35.59.

If bullish strength continues, the zones just below the monthly open near $36.88 and $37.45 could halt any retracement. 

A bearish shift in the market might seek the relatively equal lows near $25.33 into possible support near $24.51. If this down move occurs, the swing low near $23.90 and possible support near $22.34 may be the primary objective.

3. Filecoin (FIL)

Filecoin FIL is a decentralised storage system that aims to “store humanity’s most important information”. The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network. Filecoin is an open protocol backed by a blockchain that records commitments made by the network’s participants, with transactions using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime.

FIL Price Analysis

At the time of writing, FIL is ranked the 28th cryptocurrency globally and the current price is US$67.30. Let’s take a look at the chart below for price analysis:

Source: TradingView

After retracing nearly 70% from its September high, FIL set a low near $55.34 as it formed its current range.

Last week, the price swept highs near $67.34. Relatively equal daily highs near $70.55 provide a reasonable target, although resistance beginning near $73.68 could cap the move. A break of this resistance is likely to target the swing high near $78.12 into higher-timeframe resistance beginning near $85.07.

The current area near $62.33 could provide support, although bulls may be more likely to buy near the price fractal near $60.15 if a retracement reaches this level. A break of this area could continue down to sweep the October low near $56.93 into possible support beginning near $52.36.

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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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