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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

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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