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Ethereum, Tron Price Analysis: What’s Happening?

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Ethereum
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Ethereum (ETH) is unlikely to break the $500 level today as it is currently trading below the $475 support.

Tron (TRX) price continues to be in the selloff mode as the price action tends to show a downtrend move.

Ethereum (ETH/USD)

Price Analysis

  • High: $473.09 USD
  • Low: $446.01 USD
  • Major Resistance Level: $475 USD
  • Hourly MACD: Slightly placed in the Sell region.

Chart courtesy of tradingview.com

As can be observed from the chart the ETH/USD pair had crossed the $480 level over the weekend. The cryptocurrency failed to maintain the $475 support level and fell sharply below the support level and the 100 hourly simple moving average to nearly $446.02, at the time of writing. (As of 10th July 2018) The recent break below the trendline seems to have led the price of the pair into the bearish zone. If the price continues to travel further downwards then it may create a pressure on the buyers.

As of now, the chart of ETH/USD does not look too appealing for the $500 level. However, as the RSI has been sporting in the oversold region lately, one can expect the price action of the cryptocurrency to gather more buyers and move into the green zone again.

Tron (TRX/USD)

Price Analysis

  • High: $0.036 USD
  • Low: $0.033 USD
  • Major Support Level: $0.036 USD
  • Hourly MACD: Placed slightly in the Sell region.

Chart courtesy of trading view.com

The TRX/USD pair has been holding onto the $0.036 support level for the past 2-3 days even as it struggles to recover to the green zone. At the time of writing, the price of TRX shows approximately $0.033 USD. The technical analysis from Trading View shows that there is a slight selloff pressure. It can be an indication that the coin may soon show an uptrend if a buying momentum develops around this price level. The 100 SMA continues below the 200 SMA at the moment. So, there will hardly be any development from the selloff position this day.

RSI has been holding onto the oversold region for some time lately and, this indicates that the number of vendors will decrease. One can also expect Tron (TRX) to breakout from the current situation as the time closes upon Tron Virtual Machine launch, release slated for 31st July 2018.

At the time of writing, the difference between Buy and Sell for Ethereum as well as Tron is very less. It is better to study the markets for some more time before making any decision.

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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