For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.
1. ICON (ICX)
ICON is a decentralized blockchain network focused on interoperability. With ICON’s “blockchain transmission protocol”, independent blockchains like Bitcoin and Ethereum can connect and transact with each other. This opens up cross-chain use cases that are impossible without an interoperability layer like ICON.
ICX Price Analysis
At the time of writing, ICX is ranked 79th cryptocurrency globally and the current price is $2.73 AUD. Let’s take a look at the chart below for price analysis.
During the weekend it swung around $2.4150 AUD as it tested support near $2.1201 AUD.
Aggressive traders expecting expansion to the upside could look for entries near possible support around $2.2762 AUD. Bids near $2.1201 AUD may be able to capitalize on an attempt to run the stops below the weekend’s swing low. A stop run below this low may reach into possible support near $1.9500 AUD.
In the short term, $2.9426 AUD may provide some resistance. The swing high near $3.2700 AUD looks like a first target, with the area just above up to $3.5500 AUD possibly creating resistance.
A break out of this zone would make the March high at $3.6170 AUD a more likely target, with further expansion possibly reaching near $5.3226 AUD.
2. IOTA (MIOTA)
IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, it relies on a technology known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.
IOTA Price Analysis
At the time of writing, IOTA is ranked 24th cryptocurrency globally and the current price is $2.68 AUD. Let’s take a look at the chart below for price analysis.
The weekend’s 31% drop was immediately bought up and closed the day bullish, suggesting strength for IOTA bulls.
Aggressive traders could look for support near $2.4215 AUD. Levels near $2.2970 AUD, $2.1851 AUD, and $1.9773 AUD also provide areas for bids during a retracement.
Little resistance rests overhead, but the area between $2.8593 AUD and the swing high at $2.9773 AUD may cap an initial move upward. Extensions seem to indicate $3.2283 AUD and $3.8425 AUD as take-profit zones.
3. WINK (WIN)
WINk is a gaming platform for users to play socialize and stake across multiple blockchain ecosystems that leverages the WIN token as the native digital asset within the platform. Through behavioural mining, innovative token economy design and other incentive mechanisms, WINk aims to build an ecosystem that provides a high-quality decentralized gaming experience. This would enable developers to build DApps that drive genuine adoption, engaging users to participate and contribute as active stakeholders in the platform.
WIN Price Analysis
At the time of writing, WINK is ranked 134th cryptocurrency globally and the current price is $0.0017 AUD. Let’s take a look at the chart below for price analysis.
An impressive 463% month for WIN has retraced over 56% as the price consolidates near the weekly gap beginning near $0.001701 AUD.
The equal lows at this weekly gap might see a stop run before any further move up. The area near $0.00109 AUD at the top of a daily gap could provide support.
The bottom of the gap seems a more likely support, ranging from approximately $0.0009664 AUD to the consolidation that started the massive move upward. If this level fails, traders could look for sensitivity near the middle of the monthly gap near $0.0006308 AUD.
Impulses upward during retracement are possible, but the most substantial resistance seems just below the April swing high near $0.002971 AUD. This swing high provides a clear first target, with any targets beyond challenging to predict.
Where to Buy or Trade Altcoins?
These 3 Altcoins have the highest liquidity on Binance Exchange so that could help for trading on USDT or BTC pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.
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