Connect with us

Blogs

Cardano (ADA/Tether) Technical Analysis: Ride The Bull

Published

on

Cardano

Cardano, along with most of the popular cryptocurrencies, hit its most recent low of the crypto bear market on or about the last week of March 2018. Since then the cryptocurrencies have been on a rebound that marks the first indication that the cryptocurrency market may be stabilizing, and once again turning bullish. However, one bounce off the bottom does not mark a reversal. Cardano bounced off its local lowest close of $.14266605 on March 29, 2018. Over the entire month of April, it has traded in a steady upward trajectory with very light dips to a high of $.38845159 on April 29, 2017, as displayed in Chart #1 below.

CHART #1: ADA/Tether Daily

Another notable attribute of the daily chart is the diminishing volume as price increases from the bounce off the low to the current price. An upward price movement of this type accompanied with increasing volume would be a strong long entry setup. This situation, as tempting as it may seem to enter long on the next dip, may be setting up for a short position. Chart #2 below displays a 60-minute price chart and delves into a more in-depth analysis that serves to confirm the upcoming retracement.

CHART #2: ADA/Tether 60-minute

Chart #2 included a moving-average convergence-divergence indicator (MACD). On the last two price swings for Cardano, the MACD indicator has accurately picked up convergence for the downward price swing and is currently displaying the price/MACD divergence pattern that the price action for Cardano is in the midst of completing. This price pattern, along with the diminishing volume is a very strong indication that the current upward price movement is about to “run out of steam.” This is a good short signal with a profit target of about a 50% retracement, from the low where the upward price move commenced, and a stop-loss of a 1-to-1 ratio or tighter.

Once the retracement begins, careful ongoing inspections of the volume patterns should be conducted. If the retracement stays at least 25% above the last local low of $.14266605, then the possibility that a genuine reversal is taking place becomes more realistic.  As the volume patterns begin to favor upside movements, and indicators begin triggering long entry setups, taking a long position will be a prudent move. Cardano is still priced very low at $.373398 in spite of the fact that it’s currently ranked #6 on the list of cryptocurrencies in terms of Market Capitalization with a market cap of $9.681Bil. It is also ranked 9th in terms of trade volume as of May 2, 2018. When the Crypto Bull Market returns, Cardano is well positioned to “Ride the Bull.”

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Mike Langhorst via Flickr

Chart courtesy of tradingview.com

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

Published

on

Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

Continue Reading

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

Published

on

TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

Continue Reading

Blogs

How Can Foreigners Get Loans in Singapore

Published

on

loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

Continue Reading

Press Release