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The cryptocurrency trading industry has grown a lot over the past couple of years. The market is still young and currently it has emerged as one of the most popular investment platforms. With the huge number of cryptocurrencies or the digital currencies that are being included in the popular platforms such as the CoinMarketCap, it is quite tempting to jump into the world of cryptocurrencies owing to fear of missing out or FOMO without sufficient knowledge. Thus, this creates unsuccessful investors who are unaware of the best crypto technical analysis tools.
We do not want to see unsuccessful investors or people failing in the cryptocurrency space owing to FOMO. Thus, we bring to you the best technical analysis tools for cryptocurrency trading that all successful traders or investors use deliberately.
10+ Best Crypto Technical Analysis Tools That Will Make You A Successful Trader
It is needless to state that cryptocurrency is a volatile currency and is subject to market changes. This is such an aspect that makes cryptocurrency one of the riskiest investment assets. The investors with proper experience can utilize this vulnerability in the bid to make profits. However, many of the new investors are plunging into the market without possessing any prior education or knowledge. The crypto technical analysis tools are a great method to bridge this gap and offer all types of the investors with the information for making better trading decisions. So, without much waiting, let us get straight to the tools.
TradingView
TradingView is considered to be one of the most broadly used charting tools in the cryptocurrency industry. It is usually a cloud-based platform that you can easily download on your mobile devices. The tool is very popular in the traditional markets as well as amongst the crypto traders.
With this tool, the users are able to scan the market and gather the data from the various cryptocurrency exchanges such as Binance, Coinbase, Bittrex and Bitfinex. The tool permits you to log in to the different cryptocurrency exchanges, view and compare the real-time charts.
Pros
- One of the most versatile platforms.
- Offers simple, sleek, fast zooming in/out.
- Comfortable to use charts.
- A huge library of the indicators that consists of the popular and the community built indicators.
- Offers a great collection of trading tools.
- Known to be one of the best forex and stock screeners.
- Has a fully functional mobile application.
- Offers the investors access to various remarkable features via a crypto technical analysis tools free plan.
- The pricing plans are quite affordable.
Cons
- The customer support services are quite unsatisfactory in comparison to the industry standards.
- Offers a very limited broker support.
- No level 2 data (You can avail the DOM if you possess a CQG account).
Coinigy
The Coinigy platform came into operation for the very first time back in 2014. It is quite similar to the already mentioned TradingView and can also map the cryptocurrency charts from over 45 crypto exchange platforms. You are also eligible to trade across exchanges and receive the SMS alerts on your phone. The users can also trade through the API from their Coinigy accounts 24 hours a day.
Unlike the TradingView, the platform does not offer a crypto technical analysis app free basic plan. The users are eligible to sign in and try the 30-day trial version to observe how it performs. The platform charges a fee of $15 each month. However, there are no hidden charges or the on-trade commission charges.
Making use of the basic plan, the customers are able to achieve access to over 75 technical tools as well as indicators, can trade through their choice of exchange and receive instant SMS alerts as the market slowly changes.
Pros
- It permits the consolidation of the various exchange accounts on a single platform.
- It offers powerful chart integrations.
- A variety of technical analysis tools are available.
- It offers access to more than 45 different exchanges.
- Offers average subscription costs possessing a variety of features.
- It offers enhanced speed and efficiency while executing the trades.
Cons
- The API integration cannot be done by the US clients on some of the crypto exchanges such as BitMex.
- The set-up that pertains to the API link to the trading accounts might be tedious and time consuming.
Glassnode
It is an on-chain data as well as market intelligence blockchain analysis tool. The API and web based crypto technical analysis app offers you market insights. The Glassnode platform offers you relevant information on the cryptocurrency transaction data, miner data, metrics, profit and loss, wallet holdings as well as other crucial insights for the investors. The tool also permits you to review the market details, coin price data, successful transactions as well as the active addresses.
The customers are eligible to receive alerts (highly questionable) and download the market data from the application itself. The best part is that their free basic plan is updated on a daily basis. The paid versions are available at an annual subscription of $29 and $799 per month respectively. All of these tiers are frequently updated and also available with additional indicators.
Pros
- It offers detailed analytical data for the research purposes.
- The platform possesses a customizable interface bearing editable charts.
- It provides the investors with comprehensive education on the cryptocurrency terms for all of its users.
- The coins available on the platform can be compared with the superimposed graphs.
- The platform supports several crypto assets.
Cons
- The platform does not come with a dedicated watchlist.
- There exists no alert system.
- The platform seems to be too technical for the beginners.
Coin Metrics
Coin Metrics was founded back in 2017 and is a crypto technical analysis tool that is available both on-chain and off-chain. It helps the analysts, investors and the researchers to understand the dynamics in the crypto market. The platform also offers the market visualization tools, indices, data feeds, metrics and price reference rates. Customers are allowed to view the Twitter feeds for the market sentiment.
Coin Metrics cover over 100 cryptocurrency assets. You can also sign up for the weekly newsletter and receive access to the extensive reports and the topics on the cryptocurrency markets.
Pros
- The platform offers useful data analysis and research.
- It offers an API to export data.
- The listed resources are very useful to the investors.
- A gigantic number of the supported metrics are available.
- The platform is simple and easy to use.
Cons
- The platform just supports around 60 assets.
- Relatively new platform.
- It is more inclined towards niche solutions.
- Chart editing is not available.
- Social metrics such as social trends and social dominance are unavailable.
CoinMarketCal
It is a research tool that updates the users regarding the upcoming events in the crypto market about various cryptocurrencies. It is basically a community driven social platform. The users on this platform provide insights and research-based news regarding the cryptocurrency events.
After the user submits their insights, the news submissions are then verified by the other users in the platform. The ones that are absolutely correct receive upvotes while the fake ones are downvoted. The users who are looking forward to receiving information regarding a particular event or coin can just click on the links and visit the relevant pages.
Pros
- It is completely community-driven.
- In order to gain legitimacy, the events are voted on.
- Filtering is available.
- The platform is much easier to use.
- The platform is free to use.
- Newsletter is available.
- Alerts are available.
Cons
- Some of the events that might be added are not that legit.
CryptoView
The CryptoView platform permits you to track your cryptocurrency holdings across multiple exchange platforms, third party wallets and cold storage. It is considered to be an all-in-one trading solution that simplifies the trading strategies, offers real-time data and enables the customers to operate via multiple trading accounts across several trading exchanges.
The platform also aids the customers to manage multiple portfolios via a single interface. The users can view the cryptocurrency prices and simultaneously evaluate their performance by analyzing the statistical data and the trade history across multiple exchanges. The platform also lets you track the trading history via a single user interface.
The best part is that the platform is overloaded with features. It offers over 75 drawing tools, screen layouts and 85 technical indicators. The tool offers the opportunity to the users to configure the trading pairs as well as draw charts via its integration with the TradingView Charting Tool.
Additionally, the customers can avail the alert and notification facilities regarding the latest crypto news and events calendar through email of SMS. The platform also offers a free trial period of 30 days. The subscription plan on the platforms begins at $13-$19 per month. The one who subscribes to the platform for one year will receive a discount of 30%.
Pros
- Major exchanges are supported.
- The detailed cryptocurrency data is visible on a single screen.
- Portfolio tracking is available.
- Offers multi-charting and multi-exchange trading facilities.
- The interface is easy to use.
- High-level security is present.
- A 30 days free trial period is available with all premium features.
Cons
- After the trial period of 30 days, the platform is no longer free to use and users have to invest in a subscription plan.
- Deposits and withdrawals are not available directly via the CryptoView platform.
Messari
Mesari can be considered as a cryptocurrency data aggregator with loads of beneficial tools for analyzing the charts and permits you to make sound decisions. It offers a screener possessing a variety of filters like the sector, price and the market cap that you can utilize to customize your research on various coins.
Usually, you can use the platform for free. However, if you are looking forward to receiving the most out of the trading research tool, then you can choose the Messari Pro at just $24.99 a month but paid annually. The pro membership will permit you to enjoy daily insights, advanced screening, long form research, watchlist and charting features. The Pro membership also permits you to download the data to a spreadsheet.
Pros
- Advanced data charting and analysis is available.
- Different metrics are available for all coins.
- Accurate on-chain data is made available.
Cons
- The platform seems pretty difficult to use at the very first glance.
LunarCrush
It is a social intelligence platform that analyzes the data from the social networks to gauge not just the transaction data and the market activity, but the investor sentiment as well. For understanding the sentiment’s influence on the cryptocurrency, one solely requires to look at the way the mere mention of Dogecoin (DOGE) and Bitcoin (BTC) by the social influencers triggered the enormous price swings over the past year. The platform offers real-time insight into who all of these influencers are and allows you to track the influencers, exchanges and coins that interest you the most.
The LunarCrush platform also reserves the most comprehensive platform features, data as well as rewards to all of those who actively contribute to the community. These contributions will help you to earn the token of the platform Lunar (LUNR), that you can make use of in the bid to unlock the perks.
Pros
- Accurate data analysis is available.
- Social analysis is possible via this platform.
- New LunarCrush metrics can be made use of easily.
- Portfolio tracking is possible.
- Possesses efficient mobile application that runs on both iOS and Android systems.
- Offers efficient alert and notification systems that also work outside of the app.
- Rewards in LUNR available for the contributors.
Cons
- Unfortunately, no chart editing is made available.
- The platform does not ask for 2FA or passwords prior to accessing the platform making the security system doubtful.
- LUNR rewards are available but you cannot retrieve it unless you have successfully accumulated at the minimum 30 LUNR and you will require over 2,000 points in the bid to receive that amount of LUNR.
Santiment
It is another cryptocurrency research tool that you must look closely at. Similar to the Glassnode platform, this platform also offers on-chain as well as social media data on over 2000+ cryptocurrencies or digital coins aiding you to predict the price movement of any cryptocurrency. Additionally, the platform offers the fundamental insights and the behavioral reports so that you remain ahead of the imminent developments. You can even set up alerts on the Santiment platform in the bid to receive updates whenever a crypto in your watchlist receives a surge in the social volume.
The beginner cryptocurrency investors can also receive a feel for the market with the essential metrics and the limited API calls free of cost. The paid accounts cost $149 or $399 per year and offer additional metrics and historical information, even more API calls and top-notch technical support.
Pros
- The users can enjoy reliable and accurate data.
- Various charts are available.
- The pricing is competitive.
Cons
- There isn’t any such. So far so good.
CoinGecko
It is obvious that you might have heard about CoinMarketCap but you might not be too familiar with the CoinGecko platform. It is one the largest data aggregators that tracks the crypto prices by the market cap. You can also view the live price changes for over 10,000 coins and more than 500 cryptocurrency exchanges.
Aside from tracking and measuring the digital coins, and tokens by the market cap and the exchanges by the trading volume, the platform offers an in-depth analysis of the cryptocurrency market. CoinGecko also offers community statistics for social media sites and forums such as Twitter, Facebook, Reddit and more.
There are also various other useful features that you can capitalize on at absolutely no charge in order to receive a broad overview of a specific cryptocurrency with the platform. Premium and Premium+ accounts are also available for $49.90 and $99 per year respectively and are paid monthly. It also includes an ad free experience as well as advanced features.
Pros
- The platform offers easy access to important coin information.
- The historical market data is accurate (aggregated, individual).
- Data access offers are available (APIs).
- Duration of the supported data history is available in years and months.
- Breadth of the covered markets (exchanges, trading pairs, assets).
- Offers extensive functionality.
- The crypto technical analysis website performance is fast.
- Users can discover NFTs.
Cons
- Absence of crypto loan interest rates information.
Coin Dance
It is a heavy data cryptocurrency research tool that you might want to check out. The platform also tracks all sorts of metrics such as hash rates, fees, network nodes, block sizes and the mining breakdowns. You can also sort the data by country in the bid to see how the cryptocurrency adoption is going globally. With the help of this platform, you can also be able to check out the other top-level statistics blockchain, search volume, price history, market caps, demographics and much more. The platform is also community driven which means that the users are able to vote the validity of the information that is offered by the community.
Pros
- The statistics on this platform is easy to read and covers a massive range of the topics.
- The volume by country for the OTC market is a great development and pretty hard to find on the other website.
- The legality of the country is useful particularly in the current crypto environment. A color-coded world map also makes it easier to check out the countries for and against Bitcoin.
Cons
- There is no information on altcoins or a method to directly compare to Bitcoin but this is under development.
- The users might not be able to compare different statistics against each other for looking at the trends.
CryptoMiso
Investing in cryptocurrencies without cross checking the development of a specific coin is probably a very bad idea and chances are that you could be investing in a dead project. As the cryptocurrencies are the software protocols and they can eventually wear off if not developed, maintained as well as improved. Thus, retaining the tabs on the development of the particular cryptocurrency projects is vital.
It is a lot easier to track them on GitHub, but you will not be able to track all of the cryptocurrencies one by one. This is why you would require a crypto technical analysis tool like CryptoMiso. It is a research tool that ranks the cryptocurrencies depending on the activity on Github. You can also go ahead and check the number of the commits that an individual cryptocurrency project has done within a specific period depending on the most popular repository.
Skew
If you are interested in the cryptocurrencies and derivatives, for you, the skewAnalytics might be a perfect fit. It is a data analytics tool that conjoins the information from the best derivative exchanges such as OKEx, ByBit, FTX and Binance on a single screen. The platform possesses a whopping amount of the interesting data that you can receive value from. In 2021, Coinbase had acquired Skew, making it a part of Coinbase Prime. The Coinbase Prime offers you secure storage, client services, and advanced trading capabilities in a variety of time zones.
The individual professional users might also add the custom dashboards and the market data dashboards to their available features with a monthly subscription fee of $279.
Final Thoughts
The crypto technical analysis tools are pretty valuable assets that benefit the users or the investors to better navigate the cryptocurrency market. Many of these tools for cryptocurrency technical analysis provide a free trial period during which you can try and decide which one mostly suits you. Familiarizing yourself with these tools aids you in tracking the cryptocurrency price movements and gaining the upper hand.
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