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Daily Price Watch: Ethereum and EOS Price Analysis

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Ethereum
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Ethereum and EOS communities have been in a state of war for quite some months now. Both are decentralized App creating platform free for usage by all blockchain developers around the world. Ethereum and EOS aim to resolve the scalability issues associated with the dApp platforms making it easier to create and utilize dApps and gain more transactions. But during such a bearish market situation, both projects have been struggling to gain the upper hand and shoot for recovery balancing their respective price index.

Ethereum Analysis

Chart courtesy of tradingview.com

Price Analysis: (at 6.00 UTC)

  • High: 436.70
  • Low: 433.00
  • MACD: Placed in the Sell Zone
  • RSI: 51.78

Ethereum has been trading under the downtrend for a long time but as indicated by the chart above, it is clear that a bullish divergence has formed. Below are the key highlights of the price analysis:

  • The relative strength index is indicating that ETH would soon climb until the oscillator hits the overbought levels like the stochastic levels have reached and then return back down.
  • The bullish formation of divergence gives traders a hope for a potentially strong rally in the near future.
  • If Bitcoin continues on its path towards destruction, the downtrend is more likely to return than to reverse.

 EOS Analysis

Chart courtesy of tradingview.com

Price Analysis: (at 6.00 UTC)

  • High: 7.15
  • Low: 7.05
  • MACD: Placed in the Sell Zone
  • RSI: 57.86

Here are the key highlights about EOS price analysis:

  • EOS sure touched the June lows a while back but now it is faintly heading towards a U-turn as bulls have made a strong support line. As per the charts, the EOS/USD has added a little more than 2% within the past 24 hours.
  • EOS has been moving higher slowly yet consistently. It has jumped over the resistance level of $7.10. Experts believe there are chances that EOS might set next resistance level around $7.65. After that, it’s up to buyers to succeed there and take the pair even higher.

Current Market Position of ETH and EOS

Ethereum and EOS are undoubtedly two of the most famous blockchain projects on the global cryptocurrency markets. As per the data on Coinmarketcap, Ethereum and EOS are currently ranked as the 2nd and 5th largest cryptocurrencies in the world. Having amassed a total market capitalization of approx $44.08 billion, Ethereum is leading the way for all other Altcoins. Ethereum is being traded for $437.92 and an approximate of $1.56 billion worth of ETH has exchanged hands within the past 24 hours.

EOS whose markets have been suffering from a downfall for quite some time is behind ETH right now with a market capitalization of around $6.41 billion. The figure is close to $664 million for EOS for past 24 hours and its price is currently going up at 3.73% and reaching $7.16.

Remarks

All the negative market updates and hack incidents of well-known exchanges and wallets have brought most altcoins to their knees. Most part of the gains acquired during the bullish breakout has already been lost. But there’s still hope for Ethereum after it was not named as a security by the SEC and EOS could do better if it resolves its centralization issues.

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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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