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EmerCoin (EMC) Price Analysis: Breakout Update

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EmerCoin
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Two weeks ago, we brought readers of Global Coin Report to the attention of EmerCoin (EMC) when we alluded that, “for those aggressive investors/traders who are risk averse, you may want to put EMC on watch, front-and-center on your radars for a potential move in the days ahead”, and lo-and-behold, EMC has begun to show some life.

We also went on to note, “However, while the overall cryptocurrency climate has found itself in deterioration mode these past several months and weeks, EMC has managed to trade slightly above and below its 20 (yellow line) day moving average, continuing to do battle as well as attempting to base,” which it now appears that EMC is indeed moving up-and-out of its long base.

Furthermore, we also noted, “Nevertheless, we believe that EMC deserves both investors/traders attention at present and may want to consider the following levels for further evidence/clues with respect to short-term direction.

If at any point in the days ahead, EMC is capable of going topside of the 2.85 level, such development, should it materialize, would most likely be the trigger that higher prices may be in the offing with a potential 4 – 4.10 price objective. On the other side of the ledger, both investors and particularly short-term traders may want to utilize the 2 – 2.10 zone as potential short-term support.”

With that said, let’s take a look at the current technical picture via the Chart below to see what may be in the cards moving forward.

As we can observe above, EMC has now gone topside of our referenced 2.85 level and now appears to be in the process of pressing for greener pastures.

We can also witness that with the recent break of the noted 2.85 figure, that EMC now finds itself trading above both its 20 (yellow line) and 50 (blue line) day moving averages with its sights set on the 200DMA (red line) residing up at the 3.50 area.

While further work remains in order for EMC to clear its 200DMA as well as reaching our 4-4.10 price objective, the recent action is nevertheless a positive development that bears further monitoring.

Thus, for those whom may be involved as well as those who have and continue to monitor the action, let’s take a glance at some levels to see where we may be headed in the days/weeks ahead.

If at any time in the days/weeks ahead, EMC is capable of clearing the 3.50 figure, which just so happens to coincide with its 200DMA, such would likely signal that our noted 4-4.10 short-term price objective is “in play”. On the flip-side of the coin, short-term traders may want to utilize the 2.57-2.60 zone as potential support, with more meaningful long-term support located at the 2-2.10 area.

Nonetheless, EMC appears to have awoken and is now beginning to act as we had suspected, thus, both investors/traders may want to continue in their monitoring of the action for further clues/evidence with regards to direction.

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

CoinFlip Scores Big with BRD Wallet Partnership

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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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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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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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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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