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. BitTorrent (BTT)
BitTorrent BTT is a popular peer-to-peer (P2P) file sharing and torrent platform which has become increasingly decentralised in recent years. Since its acquisition, BitTorrent has added various new tools, with a dedicated native cryptocurrency token, BTT, released in February 2019. BTT was launched on TRON’s own blockchain, using its TRC-10 standard. According to its official literature, BitTorrent is currently the “largest decentralised P2P communications protocol” in the world.
BTT Price Analysis
At the time of writing, BTT is ranked the 48th cryptocurrency globally and the current price is A$0.006169. Let’s take a look at the chart below for price analysis:
BTT’s 126% rally during the last month recently swept the May highs at A$0.006557.
The daily close over these highs might show that bulls plan to continue the move. If so, aggressive bulls might add more to their positions near A$006015, with A$0.005814 and A$0.005128 also providing possible support.
Predicting the end of the current bullish trend is impossible. Still, extensions suggest that A$0.006973, A$0.007155, and A$0.007436 provide reasonable near-term areas to take profits.
A bearish shift in the marketplace could drive the price down much further. If so, the swing low at A$0.005239 offers a tempting target. If this stop run occurs, the price could drop further into possible support at a confluence of high-timeframe levels near A$0.004812.
2. Coti (COTI)
COTI markets itself as the first enterprise-grade fintech platform that empowers organizations to build their own payment solutions as well as digitize any currency to save time as well as money. COTI is one of the world’s first blockchain protocols that is optimized for decentralised payments and designed for use by merchants, governments, payment DApps and stablecoin issuers.
COTI Price Analysis
At the time of writing, COTI is ranked the 171th cryptocurrency globally and the current price is A$0.4496. Let’s take a look at the chart below for price analysis:
COTI’s recent sweep and close over the cluster of highs near A$0.5344 could suggest that it’s ready to kick off a new bullish trend. However, hopeful bulls should be wary of rejection near the current area that could push the price back into its three-month range.
The old highs and daily gap near A$0.5824 might support the price if bulls are ready to push up from the range. The levels at A$0.6132, A$0.6395, A$0.6681, and possibly up to A$0.6895 offer reasonable areas to take profits and watch for signs of bearish reversal.
A bearish shift in the marketplace could prompt a stop run to the layered swing lows at A$0.4025, A$0.3915, and A$0.3822. If this stop run occurs, bulls could look for support near the significant weekly zone between A$0.3745 and A$0.3597.
3. HARD Protocol (HARD)
Hard Protocol HARD is a decentralised money market built on Kava, enabling the lending and borrowing of cross-chain assets. HARD Protocol supports supply-side deposits for BTC, XRP, BNB, BUSD, and USDX. The platform will allow overcollateralized borrowing for supported assets. All HARD tokens distributed as rewards are locked by a smart contract. Users that claim HARD tokens with longer vesting schedules will receive more tokens. The exact options for token redemptions are subject to governance voting.
HARD Price Analysis
At the time of writing, HARD is ranked the 146st cryptocurrency globally and the current price is A$1.59. Let’s take a look at the chart below for price analysis:
HARD’s 80% drop from April to May may have found a range low near A$1.09. The recent break and continuation through the short-term highs near $1.60 and A$1.68 suggest some bullish strength.
Bulls are likely to take some profits near the high end of the current range. The areas near A$1.70 and $1.73 offer some confluence for resistance. The swing high near A$1.79 might be the current target, followed by possible continuation up to A$1.83 and into resistance near A$1.85.
Aggressive bulls might bid near the last high and daily gap around A$1.55. However, a drop to possible support around A$1.58 is reasonable. A market-wide retracement could send the price down to sweep relatively equal lows near A$1.47. If this stop run occurs, the price could find support between A$1.42 and A$1.38.
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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