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IOTA Tron (TRX) Price Analysis – Building a Foundation of Support

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Tron
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As we have discussed at length, the crypto complex as a whole has been seeing a revival of sorts over the past several weeks. This is true in terms of sentiment, emotion, search prevalence, coin action, and relative positioning in the importance hierarchy of financial news.

For our purposes, we’re most interested in the technical action, because that’s where we see the purest signals.

As should be clear in our technical review of Tron (TRX) and IOTA below, we see some very interesting signals in play at the moment.

IOTA (IOTA)

Price Analysis:

  • High: $1.04
  • Low: $0.98
  • Major Resistance Level: $1.25
  • Hourly MACD: Emerging Upside Momentum

    Chart courtesy of tradingview.com

IOTA has been a decisive laggard over the past two weeks. During a time when the majority of large market cap coins have moved up anywhere between 20-75%, IOTA has stayed flat or even declined.

This is certainly not what you want to see from a solid “phase 3 coin” candidate, but it doesn’t necessarily mean bad things are still to come.

While we haven’t seen explosive upside from IOTA, what we have seen is still compelling in its own right – the coin has twice more held key support at the all-important $0.90 level, which was built into place as an important level in early April.

The next step toward repairing this relative weakness situation would be a break back above the $1 level and above the mid-July highs where we see key resistance around $1.25.

Tron (TRX)

Price Analysis:

  • High: $0.03768
  • Low: $0.03715
  • Major Resistance Level: $0.040
  • Hourly MACD: Emerging Upward Momentum

    Chart courtesy of tradingview.com

Tron (TRX) continues to exhibit some extremely interesting signals, despite the fact that, like IOTA, it has been something of a relative weakness story over the past two weeks.

The range of support that is most interesting here is strongly defined by the coin’s mid-July lows at the $0.03 level.

We just saw a higher-low come into place for TRX to avoid a retest of that level this week, leading us to believe that a retest of the mid-July highs around the $0.045 level could be in the works.

That would represent a key bullish break above a major moving average and the possibility of generating a retest of what is clearly the primary resistance level this chart has dealt with over the past six months at the $0.055 level.

Above that, the sky could be the limit for TRX.

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

Bitcoin

Importance of Bitcoin ETFs and Bakkt for the Crypto Space

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Bakkt
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It is no secret that 2018 was a very bad year for cryptocurrencies, at least when it comes to prices and market cap. However, in its brighter moments, this year managed to set the stage for some very important events that are expected to make 2019 very successful and profitable. Two things have attracted the most attention, both of which were expected to occur in 2018, only to be moved for early 2019. Those two are Bitcoin ETF decision by the US SEC, and the launch of Bakkt.

What are Bakkt and Bitcoin ETFs and why are they important?

Let’s start with Bakkt first. Bakkt Exchange is a business that is set to launch at the very beginning of 2019. It is a cryptocurrency platform that is set to offer a large number of services, including things such as warehousing and trading. However, there is another thing that makes Bakkt special, and that is the fact that the exchange itself is a product of the same company that has created the New York Stock Exchange.

In addition, Bakkt will be supported by some very influential names, such as Microsoft, BCG, and even Starbucks, to name a few. Furthermore, Bakkt will support crypto-to-fiat conversions. Starbucks will actually be one of the companies that have volunteered to help test the system, as users will be able to convert crypto to USD that can then be used in Starbucks.

Bakkt exchange…

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Blogs

4 Best-Performing Cryptocurrencies in the Current Bear Market

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cryptocurrencies
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Cryptocurrencies have been experiencing a strong return of the bearish trend for weeks now, and only now does it show signs of weakening. However, experts believe that the situation will not repair itself so easily and that prices will remain low for a certain period.

However, when bear market strikes, the sentiment gets most bearish when the trend reaches the bottom. Everyone starts selling, and while short sellers can make a profit in this situation, analysts usually warn that the sale will only knock the prices down even further. Since most of the crypto-related news is already negative at this point, such predictions often make sense.

However, there is still one thing to keep in mind, which is the fact that when downtrend enters a capitulation, that often signals that a new bottom has been found. That is the perfect time to actually go against the bearish trend, and start buying. It is also a good opportunity to abandon the coins that seem too risky, and do not seem to have that bright of a future ahead of them.

Bitcoin has dropped by 87% from its all-time high, which it hit back in January. However, the rest of the market dropped with it, and it never lost its dominance, which still remains above 50% of the total market cap. In other words, while its price may have sunk to lows that were not seen for a while now, it…

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Blogs

Will The Stock Market’s Bearish Outlook Affect The Cryptocurrency Market?

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cryptocurrency market
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About 3 months ago I was reviewing what was happening in other markets as the cryptocurrency market kept falling. So I opened up TradingView and what I saw was something so incredible I had to look a second time, I thought I had opened up the BTC/USD chart but it had not yet fallen. I was a bit confused, but I realized my TradingView opened to the DOW, at the time it was looking extremely euphoric and then upon a little more research I saw it was in the longest bull since its conception.  I instantly wanted to see does this just apply to the Dow Jones or does it also apply to the likes of the Russel, S&P500, Nasdaq, Vanguard and then I even looked at the housing market. What I saw I am honestly going to say baffled me, what was there before me was a perfect opportunity, I knew that soon the stock market would fall and started letting people know about hedging.

Last year for many was a huge learning experience and even if many lost money, they learned about financial markets for the first time and may have bought their first ever investments. This was a huge plus for many people who were labeled noobs or noob investors. Why you may ask? Well, the simple answer is that noobs tried investing for the…

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