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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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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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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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