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IOTA and EOS Price Analysis: The Current Scenario

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As per the current condition, both IOTA and EOS are following a slightly bearish trend at the moment. IOTA is currently holding the 9th position and veering around the $1 mark whereas EOS is still struggling to reach the $8.00 figure due to its recent dip and holds the 5th position. Below you would find the comprehensive price analyses of these two (Data provided as of 10th July 2018).

IOTA (IOTA/USD)

Price Analysis:

  • High: 1.046 USD
  • Low: 1.0007 USD
  • Major Resistance Level: 1.5 USD
  • Hourly MACD: Placed in the sell zone.

Chart courtesy of tradingview.com

This cryptocurrency is currently revolving around the 1 US dollar mark and following a slightly bearish trend. However, if we examine the chart closely and implement the Fibonacci extension tool on its pullback, we would be able to see that it is almost ready to bounce off the top of its descending channel thereby resuming its sell-off position. The short-term SMA is still below the long-term SMA indicating that the path of least resistance is still downwards.

The full extension is located at 0.0930. However, with a stronger selling pressure, the IOTA extension could be down by 50% reaching the 0.6864. The gap between the moving averages is slowly decreasing which is manifestly a positive sign as it indicates the fact that the current bearish trend is weakening and about to reverse. The RSI (Relative Strength Index) is also showing a propensity to go upward which is another indicator of the bullish trend.

EOS (EOS/USD)

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Price Analysis:

  • High: 7.7800 USD
  • Low: 7.3250 USD
  • Major Resistance Level: 9.03 USD
  • Hourly MACD: Placed in the sell zone.

Chart courtesy of tradingview.com

Like Ripple, the very existence of EOS coin depends on its stability. According to a recent analysis, this coin has grown nearly 32 times since its inception and the main reason behind it is the stability of EOS blockchain network. However, for the past few days, the general trend of this coin has been overwhelmingly bearish. The price of this coin has been revolving around the $7.5 mark over the past week with $9 being the obvious resistance. As per their previous trade plan, the EOS team is planning on liquidating on every pullback with $4 targets.

Similar to the IOTA chart, the gap between the moving averages is also gradually decreasing in case of EOS as well indicating an imminent bull run. Also, the relative strength index is showing an upward trend. Hence, despite the recent dip in price by approximately 11%, the beginning of a bullish trend should be a matter of time for EOS.

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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

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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