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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

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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