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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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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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coins
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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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