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. Flux (FLUX)
FLUX is the new generation of scalable decentralised cloud infrastructure. Simply develop, manage and spawn your applications on multiple servers at once. Ready for Web 3.0, DApps, and more, the Flux Ecosystem is a fully operational suite of decentralised computing services and blockchain-as-a-service solutions which offer an interoperable, decentralised, AWS-like development environment. Flux is a native GPU mineable POW (proof-of-work) coin providing incentive for hardware hosters, XDAO governance on-chain, and bad actor mitigation via staking requirements for running hardware.
FLUX Price Analysis
At the time of writing, FLUX is ranked the 157th cryptocurrency globally and the current price is US$1.82. Let’s take a look at the chart below for price analysis:
FLUX retraced nearly 45% from its recent all-time highs before finding a low yesterday. Since then, the price has been sweeping stops on both sides of its local range as the current consolidation sets up the next move.
Aggressive bulls might bid near $1.85, although a sweep of the stops near $1.80 could reach below the next swing low into possible support near $1.77. A continued downtrend might run into the weekly gap near $1.65.
Some bears might add more shorts near $2.25, although a push to $2.48 is reasonable. A daily candle close over the swing high near $2.70 could suggest that a longer-term trend reversal is in play, with bulls possibly entering on a retracement near $2.95 for new weekly high prices.
2. Hedera (HBAR)
Hedera Hashgraph HBAR is a public network that allows individuals and businesses to create powerful decentralised applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face, such as slow performance and instability. The HBAR token has a dual role within the Hedera public network.
HBAR Price Analysis
At the time of writing, HBAR is ranked the 39th cryptocurrency globally and the current price is US$0.2504. Let’s take a look at the chart below for price analysis:
HBAR‘s 109% September run retraced almost to its origin, narrowly missing probable support near $0.2395 before bears swatted down the bounce near resistance around $0.2589.
With the daily gap between $0.2312 and $0.2264 almost filled in a single wick, the price may not need to revisit areas below this level. However, the safer entry is still in probable support between $0.2145 and $0.1926, which would also sweep the lows of last week’s bounce.
The relatively equal highs near $0.2822 provide a likely first target on lower timeframes. However, the resistance beginning at $0.3135 may initially suppress a further move up.
A clean break through this resistance will need to contend with the next resistance near $0.3392, under the last swing high. This swing high at $0.3570 gives a reasonable take-profit area before a possible move to the 1.0 extension near $0.4065.
3. Dydx (DYDX)
DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol. By enabling shared control of the protocol, DYDX allows traders, liquidity providers and partners of dYdX to work collectively towards an enhanced Protocol. DYDX enables a robust ecosystem around governance, rewards and staking, each designed to drive future growth and decentralisation of dYdX, resulting in a better experience for users.
DYDX Price Analysis
At the time of writing, DYDX is ranked the 128th cryptocurrency globally and the current price is US$8.93. Let’s take a look at the chart below for price analysis:
DYDX consolidates between $11.42 and $8.35 with the bulk of the volume concentrated in the lower half of the range. The price does not indicate a clear longer-term direction yet as stop orders build on both sides of the range.
Range traders will likely take profits or sell near $9.73. A stop run and swift rejection above $10.54 could provide a more favourable risk-to-reward entry for bears. An old 4h gap around $11.94 might cap this stop run.
Bulls will likely accumulate more long positions on a run below the relatively equal lows near $8.65. Little exists below the current range to identify precise support levels. However, the area between $8.12 and $7.69 could also give support during a deeper stop run.
If the price does break out decisively to the upside, the swing high at $12.70 provides a reasonable target. The highs and daily resistance levels between $13.47 and $15.32 may provide a second target.
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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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