Connect with us

Blogs

IOTA (IOTA) Tron (TRX) Price Analysis: Laggards Playing Catch-Up

Published

on

Tron

As Bitcoin continues to climb the charts in recent action, we have seen an evident explosion of enthusiasm reemerge in the cryptocurrency complex leading to technical breakouts to the upside of all manner and form.

However, the two coins we are going to focus on today – IOTA (IOTA) and Tron (TRX) – have been laggards relative to that recent shift in tone in the cryptocurrency complex as a whole. From the standpoint of technical analysis, laggards can be understood in one of two different ways: the “late to the party” and the “genuinely weak”.

Our job today is to look for clues in the action for these two coins to determine where they may fit into this typology.

IOTA (IOTA)

Price Analysis:

  • High: $1.01
  • Low: $0.963
  • Major Resistance Level: $1.25
  • Hourly MACD: Emerging Upside Momentum

Chart courtesy of tradingview.com

IOTA has been staunchly holding support at the $0.88 level. For bulls, the technical ramifications of this arrangement should be crystal clear: you have a well-structured setup on the long side right now provided the coin does not fall below this level.

The 14-day RSI offers a valuable clue here as well. We have seen an important negative divergence in this indicator over the past month of action. In other words, with three pivot lows since the middle of June all touching down and reversing just about at the $0.88 level, we have seen a rising tendency for the pivot lows consequently scored in the RSI measure.

A divergence like this between price action and oscillator action is often times an important technical signal. In itself, this may suggest a good reason to give the benefit of the doubt to support holding for IOTA at this point.

Tron (TRX)

Price Analysis:

  • High: $0.0393
  • Low: $0.0360
  • Major Resistance Level: $0.04
  • Hourly MACD: Strong Upward Momentum

    Chart courtesy of tradingview.com

Tron (TRX) has been a laggard over the past two weeks relative to many other coins in the crypto complex. However, over the last 48 hours that picture may be starting to change.

The coin actually logged a promising higher low earlier this week when it held support at the $0.033 level – well above its July 12 lows at $0.031.

In addition, Tron (TRX) also managed to spring back higher off a barely lower low on the hourly chart over the past several days. This action led to the upside chase that we’ve seen over the past 36 hours.

Now, we come to the real test: can this recent resurgence of upside momentum hold and breakout back above the $0.043 level?

If so, it will also have managed a breakout above its 50-day simple moving average, and spark a lot of new interest as a technical breakout candidate playing catch-up to the rest of the complex.

Happy Trading~

For the latest cryptocurrency news, join our Telegram!

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

Blogs

How Can Foreigners Get Loans in Singapore

Published

on

loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

Continue Reading

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

Continue Reading

Press Release