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

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Ethereum Price
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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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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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