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Cardano and Stellar Lumens Technical Analysis: The Latest Scenarios

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Cardano
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As the downward movement of the entire cryptocurrency market continues for the rest of the week, both Cardano (ADA) and Stellar Lumens (XLM) are struggling to reach their respective resistance points and are slightly on the bearish side of the trend. At the time of writing (12th July 2018), Cardano holds the eighth position on Coinmarketcap whereas Stellar Lumens is just one step ahead securing the seventh position. Below, you would find out the most recent price analyses of both of them against USD to have an idea about their future.

Cardano (ADA/USD)

Price Analysis:

  • High: 0.131508 USD
  • Low: 0.127146 USD
  • Major Resistance Level: 0.14 USD
  • Hourly MACD: Placed slightly in the sell zone.

Chart courtesy of tradingview.com

The price of this cryptocurrency is now veering around the $0.12 mark and following a downward trend. However, by applying tools like Fibonacci retracement, we can observe an indication of trend reversal very shortly. The difference between the moving averages is also gradually decreasing which also indicates the very same fact. The relative sell index (RSI), however remaining in the similar position might change the hourly MACD with its upward movement and bring the currency back to the buying zone. Also, Cardano has been in an advantageous position in comparison with Bitcoin for the most part of this week which provides it the edge required to change its current trend. If the moving averages continue to get closer, it will be just a matter of time that the red candles of bearish trend would change into green bullish ones.

Stellar Lumens (XLM/USD)

Price Analysis:

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  • High: 0.1899279 USD
  • Low: 0.1860386 USD
  • Major Resistance Level: 0.2200000 USD
  • Hourly MACD: Placed slightly in the sell zone.

Chart courtesy of tradingview.com

Stellar Lumens is sitting at the $0.187256 mark which still indicates a bearish trend with a decrease of 0.41% from its previous figure. Besides the US Dollar, XLM is also following a downward trend when compared to Bitcoin. Throughout this week, XLM has been trying to reach its resistance of 0.2200 USD mark. A few hours earlier, it got immensely close to that figure but rejected and came down below $0.18 mark with an RSI of 37.212. However, at this moment the value of the RSI is slightly on the higher side which might be a good omen for the traders across the globe. Similar to Cardano, the difference between the moving averages is also decreasing which might indicate a reversal in the current bearish trend. As per the breaking point in the upper trend line of the previous analysis, the bulls were defending the downward movement of the price from a psychological perspective and depending on the market sentiment.

The development team of XLM has been working hard in order to change the current scenario. On 10th July, this currency announced their support for a new start-up named London Football Exchange. Several partnerships and listings are still on the way for this currency which could change its market sentiment.

Based on this information, it can be inferred that despite the fact that both of these digital coins are slightly on the bearish side, a strong bull run is right in the corner.

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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 Pexels

Charts courtesy of tradingview.com

Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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