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. IOTA (MIOTA)
IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind the 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 the 55th cryptocurrency globally and the current price is US$0.2712. Let’s take a look at the chart below for price analysis:
After a 70% decline during Q2, IOTA has ranged between $0.2633 and $0.3503.
The recent rally was approaching probable resistance near $0.4045 but could be aiming for stops above the relatively equal highs near $0.4320. Continuation of the bullish move could target the daily gap near $0.4835.
Aggressive bulls might add to positions near $.2740 and $0.2644. Price action near $0.2460 may be more likely to provide support – if the price reaches it – during any retracements.
Relatively equal lows clustered around $0.2235 seem likely to be swept if the bearish trend resumes. If this move occurs, the price might find support at the significant higher-timeframe level near $0.1955.
2. Quant (QNT)
Quant QNT launched with the goal of connecting blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It is the first project to solve the interoperability problem through the creation of the first blockchain operating system. The main aim of Quant – using Overledger – is to bridge the gap that exists between different blockchains. The backbone of the project is the Overledger network, which Quant bills as the ecosystem on which the future digital economy ecosystem will be built.
QNT Price Analysis
At the time of writing, QNT is ranked the 63rd cryptocurrency globally and the current price is US$53.27. Let’s take a look at the chart below for price analysis:
Q1 marked a turning point for QNT, with the price gaining almost 60% from its lows to probable resistance beginning near $146.30.
The price is currently struggling with the area between $48.80 and $60.33. This region could provide support after a close above, or resistance after a close below.
A retracement could reach into the daily gap and possible support around $45.41. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $42.65, and the potential support just below that begins around $39.34.
Continuation to the upside will likely target the monthly high near $66.19. However, probable resistance beginning at $72.77 and $80.30 could cap or slow down this move.
3. TrueFi (TRU)
TrueFi TRU is a protocol for creating interest-bearing pools with a high APR for liquidity providers. TrueFi includes utility and rewards mechanisms using TrustTokens TRU and rewards participants for maintaining stable, high APRs. TRU is the native token of the TrueFi protocol and TrustToken holders ultimately have a say over who is a credible borrower in the prediction market. TRU gives the holder the ability to rate credit for third parties.
TRU Price Analysis
At the time of writing, TRU is ranked the 429th cryptocurrency globally and the current price is US$0.06499. Let’s take a look at the chart below for price analysis:
TRU‘s chart paints a different picture than many other altcoins, with April’s high leading to a massive range before setting a low near $0.05655 in June.
The nearly 36% spike at the beginning of June makes immediate bids questionable. However, the price may be finding support near $0.06016 and possibly near $0.05742. Since the price swept the impulse’s high at $0.07536, bulls might be waiting to enter near the swing low and gap near $0.05260, or slightly lower near $0.04790.
Little resistance lies overhead, although some resistance might exist between $0.06995 and approximately $0.07417, just above the current price. A sweep and rejection of the high near $0.08345 would make most areas of possible support highly suspect and could mark the end of the bullish trend.
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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.
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