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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:

  • 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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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