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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.

Happy Trading!!

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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

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS
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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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6 Blockchain Predictions For 2019

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blockchain predictions 2019
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As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.

While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.

1. Search for new and better business use cases

Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.

Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.

2. Fixing blockchain industry’s image

For a lot of people, blockchain…

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TRON DEX Goes Crazy, TRX Founder Asks For More Projects

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TRON DEX
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Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.

So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.

TRON DEX sees massive growth in activity

Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.

While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.

In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…

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