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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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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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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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