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Cardano (ADA) Stellar (XLM) Price Analysis: What’s Happening?

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Cardano is experiencing a bull run and is targeting the $0.20 resistance level.

Stellar Lumens continues on its upward surge and is eyeing the $0.30 USD mark.

Cardano (ADA/USD)

Price Analysis

  • High: $0.188139 USD
  • Low: $0.168351 USD
  • Major Resistance Level: $0.20
  • Hourly MACD: Placed slightly in the Buy zone.

Chart courtesy of tradingview.com

Cardano has been experiencing a bullish run again since 13th July. As can be observed from the ADA/USD trading chart, the price of the pair had largely experienced a bearish downtrend and had fallen below $0.12 USD at one point. At the time of writing, Cardano (ADA) is trading at $0.1835 USD approximately while the moving average (blue line) marks at 0.1461. This trading chart shows that on 16th and 17th July 2018, the ADA/USD pair had experienced a comparatively higher surge. Today too so far, the green candle seems to be gaining the bullish momentum. The pressure on the buyers is pushing the price up at the moment and had one point in this short timeframe had moved as high as $0.1869. Presently, the price has already tested the 23.6% Fibonacci retracement level during the rise from $0.1501 to $0.1869.

From the current price movements, it seems that Cardano (ADA) is strongly trying to make it to the resistance level at $0.20. The strong signs do not at the moment indicate that there is a chance of downward correction. The major support level can be said to be at $0.1780.

Stellar Lumens (XLM/USD)

Price Analysis

  • High: $0.2945 USD
  • Low: $0.2529 USD
  • Major Resistance Level: $0.30
  • Hourly MACD: Placed slightly in the Buy zone.

Chart courtesy of tradingview.com

Stellar Lumens (XLM), like Cardano, has been showing stronger bullish signs since 13th July 2018. The daily range for the next day, as observed from the chart, shows it to be concise. However, if the pattern is followed then, a ‘steady’ upward movement is to be noted. The chart also shows that from 2nd May 2018, there has been a downtrend mainly. For some days in late May and early June, there had been a slight upsurge in the price action of the XLM/USD pair.

At the time of writing, the price of Stellar Lumens (XLM) shows approximately $0.3014 USD. The moving average marks 0.2216. This and the past few days green candles are creating a constant pressure on the buyers and keeping it in the Buy zone. If the situation continues to be the same for some time then, it can be expected that a much stronger bullish zone will be created on the XLM/USD chart. At the moment, the hourly MACD is placed in the Buy zone slightly but it may move into the zone strongly.

Currently, both Cardano (ADA) and Stellar Lumens (XLM) have been experiencing green signals and the present price action suggests that the trend may continue for some time. The BlackRock news seems to have had a much bigger positive effect as many cryptocurrencies are now sporting green.

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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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