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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)

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.

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

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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