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. Ethereum (ETH)
Ethereum ETH is a decentralised open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralised smart contracts. Ethereum’s own purported goal is to become a global platform for decentralised applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime, and fraud.
ETH Price Analysis
At the time of writing, ETH is ranked the 2nd cryptocurrency globally and the current price is A$5,624.16. Let’s take a look at the chart below for price analysis:
ETH‘s long-term range from May’s high to May’s low could be coming to an end.
The 9, 18 and 40 EMAs flipped bullish at the beginning of October after late September’s retracement, showing strength as BTC rallied. Currently, the price is hovering just under the all-time high as bulls take some profits.
Two swing highs and the 9 EMA could mark A$5380.87 to A$5276.72 as an area of possible support. However, a sell-the-news run on stops triggered by Wednesday’s news could reach A$5136.53, near the 18 EMA, or even A$4908.21, near the 40 EMA. A deeper retracement will likely find some buyers around the 61.8% retracement near A$4467.59.
The all-time high will likely see some profit-taking, but the area near the 27% extension, at A$6214.03, could also provide some resistance. The 61.8% extensions of the last two swings converge near A$7223.45, which could be the target for an all-time high break before a new setup emerges.
2. Casper (CSPR)
Casper CSPR is the first live proof-of-stake (PoS) blockchain built off the Casper CBC specification. The Casper platform is designed to boost the adoption of blockchain technology, smart contracts, and DApps on a global scale. Casper is optimised to suit both enterprise and developer needs. Casper’s mission is to usher in a new era for Web3, as demand for intuitive, interconnected services continues to grow across the board. Casper does so by solving the adoption trilemma: offering enterprise-grade security, scalability, and decentralisation, all within the same blockchain protocol.
CSPR Price Analysis
At the time of writing, CSPR is ranked the 190th cryptocurrency globally and the current price is A$0.1493. Let’s take a look at the chart below for price analysis:
After setting a low in mid-July, CSPR‘s 260% spike in early August turned into a nearly three-month-long consolidation. The 9, 18 and 40 EMAs are still compressing and technically show a bearish trend. However, this most likely indicates long-term accumulation, given the current market environment.
The range low established in mid-August could provide support again near A$0.1426. The price is hovering just above this level as Thursday’s mainnet upgrade approaches. This area has confluence with the current leg’s 61.8% retracement and the larger range’s 78.6% retracement.
If this level fails, bulls might also step in near the July lows at around A$0.09470. If this move occurs, it could be to run stops below the range low before starting a more significant bullish trend.
While the ultimate target might be waiting much further above, A$0.1823 has provided stiff resistance since late August. Bulls will likely take some profits here and near the 61.8% extension. The 127% extension could also see some profit-taking, along with the upper portion of the consolidation near A$0.3627.
3. NewsCrypto (NWC)
The NewsCrypto token NWC is the native token of the NewsCrypto ecosystem, which offers a comprehensive set of indicators, educational resources, and entertainment for everyone from novice traders to experts in crypto. The project aims to offer everything that a crypto trader needs in one place, while also creating a community-focused ecosystem where users can learn from each other and earn NWC for posting quality content. The NWC token is used to unlock access to the online platform, which is focused on interactive education on blockchain technology and cryptocurrency trading.
NWC Price Analysis
At the time of writing, NWC is ranked the 340th cryptocurrency globally and the current price is A$1.35. Let’s take a look at the chart below for price analysis:
NWC‘s stunning 1,592% run during the first two quarters of 2021 retraced over 80% by mid-July, making the current range a reasonable area to suspect accumulation.
The price has ranged under the 61.8% retracement of the summer’s bullish trend. This retracement and the 9, 18 and 40 EMAs give some confluence to A$1.26 as an area of possible support for aggressive bulls.
While the EMAs are currently showing a bullish trend, a dip below the last month’s stops could reach possible support near A$0.9581. If traders aggressively sell the news of Friday’s bridge, the price might also find support near A$0.8125 as it retests range lows established in early May.
An area between A$1.60 and A$1.83 is likely to provide some resistance until a more significant move is under way. If this resistance breaks, bulls might take some profits near May’s breakdown, around A$2.23, and near the 127% extension of the summer’s bull trend, near A$2.67.
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. You can also buy these coins from different exchanges listed on Coinmarketcap.
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