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Daily Price Watch: Ethereum and EOS Price Analysis - Global Coin Report
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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

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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crypto trends
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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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