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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

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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