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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

Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

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blockchain-focused ETFs
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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Jeff Bezos
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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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cryptocurrency tax
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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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