Top 3 Coins To Watch Today: WIN, ETC, XLM – September 1 Trading Analysis

September 01, 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. Wink Link (WIN)

The first TRON ecosystem comprehensive oracle Wink Link WINK fully integrates the real world with the blockchain space. It will be able to provide reliable, unpredictable and verifiable random numbers, and fully restore trust and improve user experience by tapping into data, events, and payment systems, etc, from the real world. The WINK team completed the acquisition of justlink.io on April 26, 2021, and WINkLink becomes the first TRON ecosystem comprehensive oracle. WIN, a TRON-based TRC20 token, will be the governance token of the WINkLink oracle network.

WIN Price Analysis

At the time of writing, WIN is ranked the 134th cryptocurrency globally and the current price is A$0.0008757. Let’s take a look at the chart below for price analysis:

Source: TradingView

WIN‘s nearly 83% drop from its April highs found a low near A$0.0005285 in July before closing over a short-term high around A$0.0009247 last week.

This daily close over the high could signal a shift in market structure that may reach probable resistance near A$0.0009823. A sustained bullish move may target the swing high at A$0.001057. If this stop run occurs, a run beyond the high into probable resistance near A$0.001146 and A$0.001209 is possible.

Bulls could buy a retracement to possible support near A$0.0008176, just above the August monthly open. A bearish turn in the marketplace may propel the price toward possible support near A$0.0007644. 

However, relatively equal lows near A$0.0007296 and A$0.0006988 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between A$0.0006735 and A$0.0006374.

2. Ethereum Classic (ETC)

Ethereum Classic ETC is a hard fork of Ethereum (ETH) that launched in July 2016. Its main function is as a smart contract network with the ability to host and support decentralised applications (DApps). Its native token is ETC. Since its launch, Ethereum Classic has sought to differentiate itself from Ethereum; Ethereum Classic’s main aim is to preserve the Ethereum blockchain as it originally was, without artificially countering the DAO hack.

ETC Price Analysis

At the time of writing, ETC is ranked the 20th cryptocurrency globally and the current price is A$87.95. Let’s take a look at the chart below for price analysis:

Source: TradingView

ETC‘s massive May spike retraced near A$55.36 into the consolidation that began the impulse before bouncing to A$61.47.

This consolidation could provide support again, although bears would first have to push the price through possible support near A$83.25. The market’s structure may be shifting bearish, with A$78.14 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near A$73.98 before finding support near A$68.29.

However, the bullish higher-timeframe trend may prevail, with relatively equal highs near A$98.66 potentially providing an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the massive May wick near A$108.63.

3. Stellar (XLM)

Stellar XLM is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked, but soon afterward its priorities shifted to helping financial firms connect with one another through blockchain technology. The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.

XLM Price Analysis

At the time of writing, XLM is ranked the 21st cryptocurrency globally and the current price is A$0.484. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM set a high near A$0.9156 in May before retracing nearly 83% to find a low near A$0.3266. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near A$0.4955 is slowing the bullish advance down. However, another leg might target the last swing high at A$0.5368 and relatively equal highs at A$0.5844. Resistance near A$0.6155 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$0.6514.

A retracement before a move higher may find support in the daily gap near A$0.4375, just above the August monthly open. Relatively equal lows near A$0.3845 could also provide support. Run-on stops at A$0.3597 and A$0.3359 might find support in the gap beginning near A$0.2815 or a high-timeframe level near A$0.3169.

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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