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EmerCoin (EMC) Price Analysis: Breakout Update

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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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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