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. Crypto Coin (CRO)
Crypto.com coin CRO is the native cryptocurrency token of Crypto.com Chain – a decentralised, open-source blockchain developed by the Crypto.com payment, trading, and financial services company. Crypto.com Chain is one of the products in Crypto.com’s lineup of solutions designed to accelerate the global adoption of cryptocurrencies as a means of increasing personal control over money, safeguarding user data, and protecting users’ identities. The CRO blockchain serves primarily as a vehicle that powers the Crypto.com Pay mobile payments app.
CRO Price Analysis
At the time of writing, CRO is ranked the 17th cryptocurrency globally and the current price is US$0.4335. Let’s take a look at the chart below for price analysis:
CRO went parabolic during November, reaching nearly 105% percent within a few days as it blasted through its old all-time high.
This fast move left little compelling higher-timeframe support near the current price. A level near $0.4122, which has confluence with the 8 EMA and 127% extension of H2 2021’s swing, could provide support.
Further below, near $0.3891, 2021’s previous monthly high could also provide some support on a retest. The last consolidation before the breakout, near December’s open, might give the most substantial support. However, this would require significant retracement from the current price point.
While next targets are impossible to predict, extensions from H1 2021’s move suggest that the 30% extension, near $0.5675, could provide some resistance. Above this level, the 42% extension near $0.6248 could also trigger bulls to take profits.
2. Oasis Network (ROSE)
The Oasis Network ROSE is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market. Its unique privacy features can not only redefine DeFi but also create a new type of digital asset called Tokenised Data that can enable users to take control of the data they generate and earn rewards for staking it with applications – creating the first-ever responsible data economy.
ROSE Price Analysis
At the time of writing, ROSE is ranked the 68th cryptocurrency globally and the current price is US$0.4724. Let’s take a look at the chart below for price analysis:
ROSE has dropped nearly 38% since late December and found a low in early January, with price action now trending upward through a higher-timeframe range.
The area beginning near $0.5946 has provided strong resistance and may do so again. However, relatively equal highs near $0.5112 offer a tempting target for bulls. A run of these highs may reach up into the daily gap near $0.5514.
Aggressive bulls might add to their positions near $0.4278. If the price breaks through this level, it may be reaching for the cluster of swing lows near $0.3954 and $0.3715. A more substantial move down may run stops below the relatively equal monthly lows, around $0.3466, into the daily gap at this level.
3. Celo (CELO)
Celo is a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users. The network also allows for the creation of smart contracts and decentralised applications (DApps) as part of decentralised finance (DeFi). The platform has two native tokens. CELO is a proof-of-stake (PoS) token used for transaction fees, governance participation, and related activities. In the future, the platform aims to host various stablecoins, with one, the Celo Dollar (CUSD), already in use.
CELO Price Analysis
At the time of writing, CELO is ranked the 66th cryptocurrency globally and the current price is US$4.36. Let’s take a look at the chart below for price analysis:
CELO continued its rally through the daily gap between $4.25 and $4.12, turning this region into an area of possible support.
However, a stop run under the relatively equal lows at $3.97 could form a wick below this level, potentially reaching an untapped daily gap beginning near $3.80.
Resistance starting at $4.53 has seen significant profit-taking, shown by the long upper wicks on the daily candles. A break of this resistance may reach the next significant swing high at $4.75, continue into probable resistance just above, and possibly set new monthly highs at $4.93.
Learn How to Trade Live!
Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.
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.
Disclaimer:
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.
Credit: Source link