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Ethereum, Ethereum Classic Price Analysis: Clearing the Decks

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Ethereum Price
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In our analysis yesterday, we suggested that some coins were on a roller coaster while others were falling down an elevator shaft.

Based on what we saw last night, it would appear as though Ethereum price and Ethereum Classic price are both hurtling down that shaft in search of the basement floor. But keep an eye on this. That sort of dynamic can change in a heartbeat.

Ethereum (ETH)

Price Analysis

  • High: $284
  • Low: $250.84
  • 24-Hour Volume: $1.98B
  • 7-day Percent Change: -34.72%

Ethereum (ETH) has been a poster boy of underperformance, barely flinching to the upside during the cryptocurrency asset class-wide bounce during the month of July, and then rolling through a sloped support level without a blink after rubbing off a declining 50-day simple moving average.

That is led to a steady downward trend in ETH, which in turn led to a break of the coin’s April lows. Now, we are in search of more important lows, and last night’s action may be starting to probe the areas we want to see.

Most importantly, with the 14-day RSI measure already signaling massive oversold extremes, we have to look at the $275 level as potentially a key line in the sand for Ethereum (ETH).

Ethereum Classic (ETC)

Price Analysis

  • High: $11.9516
  • Low: $10.1156
  • 24-Hour Volume: $264.49M
  • 7-day Percent Change: -43.51%

Ethereum Classic (ETC) is an interesting case. It was only a week ago that everyone on the planet was touting this as the coin that would avoid this leg of the bear market.

But, as we discussed in some of our analysis, headline-driven rallies are not secure during bear market contexts. And that’s exactly what we saw with Ethereum Classic (ETC).

It was rallying a few days ago because the coin had been picked up by some major exchanges. But that’s exactly the kind of catalyst that can lead to a quick “suck them in and spit them out” kind of bear market rally, destined to roll over and wield severe pain for those sucked in at the highs.

Ethereum Classic (ETC) powered itself higher during that news-inspired craze, only to be rebuffed by resistance at a declining 200-day simple moving average in confluence with the $20 level.

At this point, all eyes are on the support between $9.50 and $10.00.

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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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