BadgerDao BADGER is trading in an uptrend, like many other Altcoins. The cryptocurrency BADGER just went up +75% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +135% in a week.
What is BadgerDao?
BadgerDao BADGER is an open-source, decentralized automated organization that is dedicated to building products and infrastructure of simplifying the use of Bitcoin as collateral across many smart contract platforms. The platform is a shared space where the developers, known as Badge Builders, have the ability to collaborate and implement Bitcoin as collateral to as many blockchains as possible. A developer can earn a percentage of the fees and BADGER tokens from the developer mining pool for every implementation.
BADGER Price Analysis
At the time of writing, BADGER is ranked 152nd cryptocurrency globally and the current price is A$37.05. This represents a +135% increase since August 1, 2021 (seven days ago), as shown in the chart below.
After looking at the above 1-Day candle chart, we can clearly see that BADGER was trading inside the rising wedge pattern on the BADGER/USDT pair. The first resistance was on the A$22.56 price levels, which BADGER broke with a strong bullish trend buying volume and is now heading towards the previous high prices near A$45.27. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery with a bullish trend, BADGER may continue to increase in the uptrend if traders keep buying with high volume.
“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”
What Do the Technical Indicators Say?
TradingView indicators (on the one-day window) mainly suggest BADGER as a Buy, except the Oscillators, which indicate BADGER as a Neutral.
So Why Did BADGER Breakout?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying BADGER for the next Altcoins rally. Recent news was also announced regarding BadgerDao Migrating to the new CurveFinance Tricrypto2 pool with a new corresponding vault.
Where to Buy or Trade BADGER?
Badger has high liquidity on the Binance exchange, which could help for trading BADGER/BTC or BADGER/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin from different exchanges listed on Coinmarketcap.
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