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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

Blogs

3 Coins with the Largest Potential in 2019

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coins
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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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Do or Die: 3 Crypto Projects that Really Need to Deliver Soon

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crypto projects
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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.

The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.

However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.

1) Ethereum (ETH)

Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…

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3 Cryptos To Blow Up In The Next Bull Run

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cryptos
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It has been an entire year since the last real bull run in cryptos and most traders and investors are ready to experience the excitement of their favorite coins blowing up once again. Ever since January 2018, all that the crypto market was experiencing were price drops, with minor attempts at recovery, which would only lead to another decline in prices.

However, there are several reasons to believe that this situation might change in 2019. Naturally, many are hoping to see it happen sooner, rather than later. One such reason is the natural progress of the crypto market. According to analysts, the market moves in cycles, which include bearish and bullish behavior alike. With the last bearish trend taking up the entire year of 2018, it is now time for the more positive development to take place.

Another reason includes large projects that have a goal to deal with problems that the crypto market has been facing, such as high volatility, scalability, and alike. If developers were to find solutions to problems like these or at least provide a better alternative to the current situation, this could encourage investors to become even more active within the crypto space, which can lead to a lot of positive development.

Finally, there are projects that aim to bring institutional investors to the crypto market, by solving issues that institutions are most…

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