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Cardano and Stellar Lumens Technical Analysis: The Latest Scenarios
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:
- 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
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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