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Ethereum, EOS Price Analysis: What’s Happening?

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EOS

Ethereum has turned to the bearish zone after touching $516 USD.

EOS continues to correct itself and eyes the 9.00 line against the US Dollar.

Ethereum (ETH/USD)

Price Analysis

  • High: $480.59 USD
  • Low: $470.10 USD
  • Major Resistance Level: $520
  • Hourly MACD: In the grey area (between Buy and Sell zone)

Chart courtesy of tradingview.com

The ETH/USD pair had been sporting green candles and moving in the upward direction from 13th July 2018, as can be observed from the chart. However, yesterday the price of Ethereum had started a decline after reaching the $516 line. The candle formed yesterday thus sports the red color.

Today, so far, even though the ETH/USD pair has formed a small green candle the hourly MACD, as per Trading View, is placed in the grey region currently. It is thus difficult to say whether the crypto coin will move into the Buy or Sell region but, as the candle formed so far is in green. So, currently, there may be a slightly higher chance of moving into the Buy zone. Also, before yesterday, Ethereum trying to build an uptrend shows that the coin is trying to hold back its place today.

At the time of writing, the ETH/USD pair is trading at $477.97 USD with the moving average marking at 458.3389 (as of 19th July 2018). Yesterday, the ETH transaction fees had become higher than that of BTC. So, the price of ETH/USD had seen a downward slide. On the other hand, new partnerships had formed at the Ethereum Enterprise Alliance. This may be the cause behind the slight upward surge today. ETH at the moment is trying to reach the major resistance level at $490 USD.

EOS (EOS/USD)

Price Analysis

  • High: $8.6575 USD
  • Low: $8.3600 USD
  • Major Resistance Level: $9
  • Hourly MACD: Placed slightly in the Sell region.

Chart courtesy of trading view.com

The EOS/USD had been set on correcting itself for the past few days. The crypto coin had been showing an uptrend from 14th July 2018. The trend continued till 17th July 2018 and then sported a red candle yesterday. As the price of the EOS/USD pair reached the $8.5 zone, the price had been trying to strengthen the trend. With slight pressure from the Sell region the candle had showed a short-term downtrend.

Today, so far EOS (EOS) has been indicating an uptrend but, the hourly MACD is placed slightly in the Sell region. At the time of writing, the EOS price shows $8.6319 USD while the moving average (blue line) marks 7.7127. (As of 19th July 2018) This clearly shows that the crypto coin is trying to strengthen the trend and reach the $9 major resistance level. Currently, the overall cryptocurrency market has been showing a positive. The rise in the price of the EOS/USD pair is mostly the result of that. Otherwise, one can see from the chart an overall downtrend since the end of April 2018.

All in all, both the ETH/USD and EOS/USD pair are correcting themselves today. At the moment, it is to be seen whether Ethereum and EOS can reach the major resistance and how far they go in the short-term.

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

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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