Top 3 Coins To Watch Today: TLM, EGLD, HBAR – September 23 Trading Analysis

September 23, 2021, 8:00 AM AEST - 3 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. Alien Worlds (TLM)

Alien Worlds TLM is a decentralised, non-fungible token (NFT) metaverse where players compete for scarce resources, 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 Planet Decentralised Autonomous Organisations (DAOs).

TLM Price Analysis

At the time of writing, TLM is ranked the 289th cryptocurrency globally and the current price is A$0.2462. Let’s take a look at the chart below for price analysis:

Source: TradingView

TLM formed relatively equal lows near A$0.1574 after dropping over 71% during July. These lows could provide the target for another leg down, possibly finding support in the monthly gap of around A$0.1285. 

If this sweep of the A$0.2277 swing lows occurs, more aggressive bulls might begin bidding the weekly level near the swing low around A$0.2144. Should the market take a more bullish turn, the level just below near A$0.2033 could provide some short-term support.

The steep drop left large areas of inefficient price action, making the daily gap up to A$0.2736 likely to be touched or filled. A sustained move through this resistance could visit a significant area on the monthly and weekly chart near A$0.2905.

2. 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 34th cryptocurrency globally and the current price is A$300.10. Let’s take a look at the chart below for price analysis:

Source: TradingView

EGLD‘s stunning rally to A$381.45 has plummeted over 35% during September to sweep consolidation lows at A$289.76. This sweep of the lows could set the stage for a new bullish cycle to begin. 

The price is currently balancing around the monthly open. A quick stop run into support beginning near A$285.34 could set the stage for a move into the daily gap beginning near A$273.66 – potentially reaching resistance near A$310.46.

A sweep of the highs near A$317.55, followed by a sharp sell-off, could hint that the Bulls are preparing to run the swing high near A$326.18. This push could find resistance around A$334.89 in the candle wick that created the last week’s high. If the market remains bullish, the price will likely reach resistance near A$345.54.

3. Hedera Hashgraph (HBAR)

Hedera Hashgraph HBAR is a public network that allows individuals and businesses to create powerful decentralised applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face, such as slow performance and instability. The HBAR token has a dual role within the Hedera public network.

HBAR Price Analysis

At the time of writing, HBAR is ranked the 41st cryptocurrency globally and the current price is A$0.4857. Let’s take a look at the chart below for price analysis:

Source: TradingView

July started a gradual 67% decline in HBAR‘s price. The move into August’s swing high saw a sharp jump in price, showing that some support exists near A$0.3655.

A sweep of the most recent swing lows into possible support beginning near A$0.4126 could lead to a rally over the monthly open. This rally would likely sweep the swing high into the resistance near A$0.5277. 

This potential bullish move could continue through the relatively equal swing highs near A$0.5621 – but is likely to find some resistance in the weekly level around A$0.5788.

Continued bearishness in the crypto markets might push the price to fill the weekly gap down to A$0.3400. This drop would sweep the stops under August’s low and potentially mark a new accumulation zone for the next bullish cycle.

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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