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EOS Stellar (XLM) Price Analysis: The Technical Story - Global Coin Report
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EOS Stellar (XLM) Price Analysis: The Technical Story

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EOS
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Recent action has clearly been brutal for many different large market cap coins that define any trader’s rough and ready perception of the cryptocurrency complex as a whole. But our task as technical analysts is to remain dispassionate and empirical in our observations. And let the charts tell the story.

Today, we’re going to dive into that story for EOS and Stellar (XLM), and see what we find.

EOS

Price Analysis

  • High: $5.1534
  • Low: $4.9654
  • 24-Hour Volume: $638.42M
  • 7-day Percent Change: -28.15%

EOS has been one of the most brutalized of all the large market cap coins over the past seven days, declining nearly 30% in that time, and breaking a number of key support levels on the way.

However, one interesting technical development that we’ve seen pop up over the past 48 hours is a very clear bullish divergence on the hourly MACD indicator readings, with two higher lows amid lower lows on the price chart for EOS.

This type of bullish divergence often signals a gradual reversal of momentum going on under the surface of the chart, which then becomes manifest in terms of price action.

The jury is still out as to whether or not we will see this blossom, but it’s definitely something to watch out for given that EOS has actually been a relative outperformer over the past 12 months.

Stellar (XLM)

Price Analysis

  • High: $0.2431
  • Low: $0.22325
  • 24-Hour Volume: $70.65M
  • 7-day Percent Change: -8.55%

While EOS has been an outperformer over the last 12 months, Stellar (XLM) has been an outperformer over the last two, still trading now above both its June lows and late March lows.

There are only a few large market cap coins that can make this claim, which unequivocally places it within the top echelon in terms of performance – as dreary as that statement actually is when you look at this chart.

As far as shorter time frame signals go, Stellar (XLM) is also showing something of a bullish divergence on the hourly chart where major oscillators are concerned, with both the 14-period RSI and the hourly MACD signaling some reversal of momentum underneath the surface that may become manifest in price action.

However, I am always a little uneasy about calling even a short-term bottom in a coin that has brushed so close to a major stop-loss level without triggering those weak-handed orders. It would be nice to see XLM dive quickly under the $0.20 level before finding support and turning back higher.

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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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

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