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. Eos (EOS)
EOS is a platform designed to allow developers to build decentralised apps. The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology and ensure the network is easier to use than rivals. As a result, tools and a range of educational resources are provided to support developers who want to build functional apps quickly. EOS also aims to improve the experience for users and businesses. While the project tries to deliver greater security and less friction for consumers, it also vies to unlock flexibility and compliance for enterprises.
EOS Price Analysis
At the time of writing, EOS is ranked the 50th cryptocurrency globally and the current price is US$3.17. Let’s take a look at the chart below for price analysis:
After an 80% decline from early October, EOS has ranged between $3.10 and $3.55. The recent rally is approaching probable resistance near $3.25 – but could be aiming for stops above the relatively equal highs near $3.40. Continuation of the bullish move could target the daily gap near $3.52.
Aggressive bulls might add to positions near $3.22 and $3.10. Price action near $3.00 may be more likely to provide support – if the price reaches it – during any retracements.
Relatively equal lows clustered around $2.92 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 $2.81.
2. Neo (NEO)
NEO bills itself as a “rapidly growing and developing” ecosystem that has the goal of becoming the foundation for the next generation of the internet – a new economy where digitised payments, identities and assets come together. As well as creating a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operates an EcoBoost initiative that’s designed to encourage people to build decentralised apps and smart contracts on its blockchain.
NEO Price Analysis
At the time of writing, NEO is ranked the 70th cryptocurrency globally and the current price is US$26.18. Let’s take a look at the chart below for price analysis:
After creating a second equal low during mid-December, NEO has rallied nearly 35% into resistance that starts near $35.12.
Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $37.33 might look for bids near $40.86. More significant resistance rests above, near $43.15. A group of significant swing highs at $45.36, $46.55 and $48.23 give possible targets if this resistance breaks.
A stop run on the recent low at $25.00 into possible support beginning near $23.13 might see stronger bidding. This area also has a confluence with the August monthly open.
A bearish market shift could reach the swing low at $21.68 into possible support beginning near $19.24.
3. Monero (XMR)
Monero XMR allows transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography. The team behind Monero says privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users irrespective of how technologically competent they are.
XMR Price Analysis
At the time of writing, XMR is ranked the 44th cryptocurrency globally and the current price is US$226.63. Let’s take a look at the chart below for price analysis:
XMR‘s 65% rally during Q4 ran into resistance near $289. Since then, the price has been consolidating in a 120% range between $195 and $240.
Just below the monthly open, $219 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near $213 might cap a run on the lows near $206 and $200.
The higher-timeframe analysis points to the area near $235 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $248 and $253 may be the next target.
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.
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.