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Ethereum Price Analysis: With ETH hitting its lowest price in 10 weeks, is it time to panic sell?



Ethereum Price

Since the beginning of the year, Ethereum has managed to gain about 4.9 percent in terms of price appreciation. As one of the roster cryptocurrencies on CoinMarketCap, ETH has maintained a rather stable price amidst a volatile and bearish trend in the market. Perhaps the biggest contributor to its almost stable performance in the market is the fact that it provides a platform for other decentralized applications on its Blockchain network.

Price Analysis

However, the past few weeks have been anything but good to the second largest cryptocurrency with a market capitalization of over $45 billion. According to data from CoinDesk, ETH has lost over $50 in the last 12 hours and is now changing hands at sub $500.

Recently, the coin had maintained a resistance level at the $545 to 548 marks, subsequently making an attempt to go past the $545 mark. As a result of a bearish market reaction by buyers, the price moved to a low of $530. In fact, the past weeks have highlighted an extremely Bullish trend that saw the coin drop further down below $500.

Last week, market analysts predicted that it would hold its position above the $500 support zone. However, ETH declined further to the disappointment of many holders of the coin. After failing to hold its support levels at the $455 to $450 range, Ether’s decline was pretty much extended to levels as low as $426.47 on Sunday. After that, the bottom support levels immediately sparked a reverse in price giving the coin a gain of $42. Currently, ETH is trading at $460 but still reporting a decline by approximately 60 percent considering its all-time high of $1326 in January this year.

Ethereum is not the only one

The entire market has been in the red zone the past few days. However, there are some signs of a recovery with Bitcoin currently trading at $6,313 after declining below the $6,000 mark at $5,880 on Sunday.  EOS, Ripple, Litecoin, Cardano and basically most of the top ten coins in the market were similarly affected by the sharp decline over the weekend; however, they all seem to be recovering.

Is it yet time to panic sell?

According to market analysts, a swift recovery is on its way considering the long overdue price consolidation that suggests a reverse to the bear trend. Furthermore, long-term indicators show that ETH has reached an oversold zone meaning that the current Ethereum price is a consolidation of its bearish MACD and RSI.  As a result, the only way for ETH is up. While considering your position, this current decline can actually be the perfect time to buy.

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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.

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My Crypto Heroes Announces Issuance of MCH Governance Token



Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving



Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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Press Release