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. Fetch.ai (FET)
Fetch.ai FET is a platform that aims to connect Internet of Things (IoT) devices and algorithms to enable their collective learning. Fetch.ai is built on a high-throughput sharded ledger and offers smart contract capabilities to deploy machine learning and artificial intelligence solutions for decentralised problem-solving. These open-source tools are designed to help users create ecosystem infrastructure and deploy commercial models.
FET Price Analysis
At the time of writing, FET is ranked the 184th cryptocurrency globally and the current price is US$0.3437. Let’s take a look at the chart below for price analysis:
FET rallied 139% from its February low before running to resistance near equal highs at $0.5440. These highs may be a target in the future.
The price could find support near $0.3583 as holders buy and stake FET for the stakedrop. This level is close to the 61.8% retracement, the upper half of a consolidation, and 9, 18 and 40 EMAs bullish flip.
Just below, near $0.3153, the 78.6% retracement and inefficiently traded area at the origin of March’s move could also provide support.
Until the price tests these levels, $0.4190 could provide the closest resistance. This area is inefficiently traded and contains the 9 and 18 EMAs.
Slightly higher, near $0.4596, the April monthly open and origin of the current bearish retracement could also give resistance.
If the price does find support, this could be the start of a more significant swing that may reach probable resistance between $0.6318 and $0.6943. This inefficiently traded area fills the 27% and 50% extensions and would target bears’ stops above multiple swings.
2. QuarkChain (QKC)
The QuarkChain Network QKC is a permissionless blockchain architecture that aims to meet global commercial standards. It aims to provide a secure, decentralised and scalable blockchain solution to deliver 100,000+ on-chain TPS. QuarkChain is a public chain that can support multiple consensuses, and multiple transaction models including virtual machines VMs, ledger, and token economics in one network. It can reportedly adapt to blockchain innovations by customising consensus, transaction model (including VM), ledger, and token economics in each shard to satisfy different requirements of different industries/enterprises/DApps.
QKC Price Analysis
At the time of writing, QKC is ranked the 316th cryptocurrency globally and the current price is US$0.02138. Let’s take a look at the chart below for price analysis:
QKC surged near the end of March, setting a high 157% above its January low.
Consolidation lows near $0.02757 might provide the next significant resistance. However, the April monthly open could also offer some short-term resistance.
Near the 2022 yearly open, 40 EMA and 61.8% retracement, $0.02131 is being tested as support. The price bounced from this level and is compressing between the 9 and 18 EMAs.
Slightly lower, $0.01897 to $0.01710 may offer more robust support. The price may want to re-trade down through the inefficient area to this level, which has confluence with the 78.6% retracement and old swing highs.
If either of these supports does begin a new significant bullish rally, bulls might next target an area near $0.03599. Reaching this level would run bears’ stops above multiple relatively equal highs near the 27% extensions.
3. 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, revolutionising 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 90th cryptocurrency globally and the current price is US$0.2367. Let’s take a look at the chart below for price analysis:
ROSE climbed 82% from its February low, then dropped nearly 29% into support last Tuesday and Wednesday.
The price is currently testing this support again, near $0.2490. It may provide support again and has confluence with the 61.8% and 78.6% retracements.
Resistance begins just above, at $0.2637. This inefficiently traded area, which reaches slightly beyond $0.2862, contains the April monthly open, a bearish market structure break on the daily chart, and the 9, 18 and 40 EMAs.
These confluences often provide strong resistance. Since this resistance is close to the $0.2490 support, the price might enter consolidation before breaking out to the next move.
If the price breaks this resistance, bulls might eye an area of old rejection, near $0.3062, as their next target. Continuation through this level may target another area of bearish rejection on the weekly chart, near the 27% extension from $0.3495 to $0.3660.
A more significant bearish turn in the market may reach for bulls’ stops under the February lows, down to an area of old support in an inefficiently traded area between $0.1641 and $0.1174.
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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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