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. Altura (ALU)
Altura ALU is a smart contract platform that allows game developers to mint, distribute and transact Smart NFTs representing in-game items. Smart NFTs are NFTs with dynamic properties that can change based on certain conditions. They are the next step to making decentralised in-game items mainstream and offer a massive range of potential opportunities that are not possible with traditional NFTs. We want to create an easy-to-use interface and API for creating Smart NFTs, an open marketplace for transacting NFTs using the Altura token, and we want to introduce truly random smart loot boxes to the blockchain.
ALU Price Analysis
At the time of writing, ALU is ranked the 297th cryptocurrency globally and the current price is US$0.1299. Let’s take a look at the chart below for price analysis:
ALU‘s parabolic 1,240% rally ended three weeks after it began, then retraced over 76% from its highs.
The price had a slight bounce at the lower end of the daily consolidation, near $0.1118 and the 78.6% retracement of Q4’s rally. It remains to be seen if this price can continue to provide support in the face of the current bearish market conditions.
The 9 EMA near $0.1708 may offer some resistance. If the price breaks through this level, it could reach a zone near the 18 EMA and swing low, from $0.2078 to $0.2279. Any reclaim of this level will likely encounter strong resistance near $0.2712.
A broad zone from $0.0892 to $0.0467 could offer support and mark a bottom. Inside this zone, a more narrow range from $0.0748 to $0.0594 might provide more sensitivity. Today’s token utility update may increase buying pressure, which also increases the odds of longer-term bullish reversal as the price approaches this zone.
Should the price break through this level, the consolidation lows near $0.0339 may be the bearish target. However, a lack of apparent higher-timeframe support reduces the odds of picking the correct level for any longer-term bottom.
2. Litentry (LIT)
Litentry LIT is a decentralised identity authentication and user activity data management Infrastructure. Build on Substrate, Ready for Polkadot. Litentry is helping support change that is in favour of a user-centric network with the blockchain. Litentry includes an identity-based network and related tools, and features an identity matching and identity staking mechanism; as a whole it consists of decentralised identity and user activity data management infrastructure.
Litentry Price Analysis
At the time of writing, LIT is ranked the 466th cryptocurrency globally and the current price is US$2.78. Let’s take a look at the chart below for price analysis:
LIT has spent the second half of 2021 in a range. It spiked through this range’s high in late November before an aggressive move toward the range lows.
The price found support near $2.979, near the origin of a rally in early July, and created a week-long consolidation. However, the swing low that began October’s rally is just above, at $3.008, and is likely to provide resistance. It may cause further consolidation at the current area before a decisive break – perhaps lower as traders sell after the parachain crowdloan ends.
A break under the support near $2.979 might target the swing lows and possible support near $2.220. Below this level, there is little apparent higher-timeframe support.
If bulls appear, a break through the current resistance near the 9 EMA, around $3.008, might find resistance from $3.857 to $4.478.
A sustained bullish shift in the market could propel the price through December’s monthly open into probable resistance near the high at $5.909 and lows of early 2021’s consolidation near $6.832.
3. Secret (SCRT)
Secret SCRT is the native coin of the Secret Network, a decentralised network for private/secure computation. Nodes on the network (known as secret nodes) can perform generalisable computations over encrypted data, which allows smart contracts (known as secret contracts) to use private and sensitive data as inputs. Our focus is on computational privacy, not just transactional privacy. Developers can build decentralised, privacy-preserving “Secret Apps” on the network. The privacy functionality of the Secret Network is critical for many fields, including decentralised finance, Web3, machine learning, access control, and many more.
SCRT Price Analysis
At the time of writing, SCRT is ranked the 120th cryptocurrency globally and the current price is US$4.07. Let’s take a look at the chart below for price analysis:
SCRT‘s 1,344% rally from its July lows has retraced 63% and is entering higher-timeframe support.
An area from $4.3459 to $4.1072, near the low of Q4’s bullish leg and highs of early 2021’s consolidation, could provide some support.
However, relentless selling suggests that the price may continue dropping into a thinly traded area between $3.5274 and $2.674, which has confluence with the 78.6% retracement of the Q3-Q4 rally.
Any retracement upward might meet resistance near $5.4267, which has confluence with the 18 EMA and old resistance. Short-term excitement over the NFT marketplace launch could spark this bounce, then reverse as excitement fades after the event.
A stronger push through the probable resistance near $5.4267 could reach $7.3252, where the price consolidated over an old high. However, this may not happen until the next bullish cycle.
Close above, a zone beginning near $8.508 may provide some resistance, with more sensitivity near $9.1943.
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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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