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EOS (EOS) Digibyte (DGB) Technical Analysis – EOS And Digibyte Require Close Attention

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EOS
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While the cryptocurrency landscape has witnessed some short-term reprieve over the course of the past several days and many have enjoyed a nice bounce higher from lower depths, there are some that have yet to partake in the festivities and continue to lag.

In particular, we have been scouting the entire cryptocurrency universe in search of actionable technical set-up’s that may be displaying both favorable as well as perhaps vulnerable characteristics from a technical perspective and after scanning numerous (hundreds) names, there are two (2) that have caught our eye and that we believe require your close attention, at least from a short-term time-frame.

While we harbor no biases when conducting our scans and or analysis, it is our job as Technicians to merely seek out the very best potential risk/reward opportunities from a probability standpoint and to monitor the action of such for potential action, whether that be entry on the buy-side or perhaps closing-out and existing position and preserving capital. In essence, always engaging in risk management assessment.

With that said, after combing through our scans, both EOS (EOS), as well as Digibyte (DGB), have caught our eye and feel as though both investors/traders would be wise in the close monitoring of the action in the days ahead.

Let’s take a look at the charts of both to see what may be in store moving forward.

EOS

As we can observe from the daily chart above, EOS presently trades below both its 20 (yellow line) and 50 (blue line) day moving averages, while resting on its 200DMA (red line).

In addition, EOS appears to be building-out a potential bear Flag formation that both investors/traders may want to continue to monitor in the days ahead for resolution.

Nevertheless, EOS, while certainly not broken from a technical perspective, surely finds itself in a potentially vulnerable position should the pattern materialize to the down-side.

Thus, if at any time in the days ahead EOS were to violate the 9.00 level, such development, should it materialize, would most likely signal and perhaps trigger a move to its next potential support area located at the 7.80 figure.

If however, EOS is capable of bouncing off its 200DMA and perhaps more importantly, capable of clearing the 11.65 level, such action would be a positive development.

Therefore, both investors, as well as traders, may want to focus their attention on the action should either the 9.00 or 11.65 levels come into play in the days ahead.

DIGIBYTE

When viewing the action of DGB above, we can see that Digibyte is trading below all of its important moving averages 20/50 as well as its 200DMA’s, respectively.

Additionally, much like EOS, DGB also appears to be building-out a potential bear Flag formation and requires close attention with respect to its development in the days ahead.

Therefore, both investors/traders may want to pay particular attention to the following levels for further evidence/clues with respect to direction in the days forthcoming.

If, at any time in the days ahead DGB can clear the .03 hurdle and sustain, such development, should it materialize, would be a positive. On the flip-side of the coin, should DGB violate the .023 figure, lower prices are likely in the offing.

Nonetheless, both EOS as well as DGB find themselves in a potentially vulnerable technical posture at present and require close attention moving forward.

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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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 billionaire
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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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TokenRoll
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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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