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IOTA Tron (TRX) Price Analysis  — Key Levels Come Under Fire

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IOTA
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We noted in some of our recent analysis that a pullback across the cryptocurrency complex was more than likely. Now, we are seeing just that.

Today, as we take a close look at the charts for IOTA and Tron (TRX), we see a bit more vulnerability than we have seen in some of our other markets. In fact, we noted just yesterday that both of these coins represented some immediate technical vulnerability.

However, the important part will be how they respond to this dip – which is still very much an open question.

IOTA

Price Analysis

  • High: $0.94717
  • Low: $0.91027
  • Major Resistance Level: $1.20
  • Hourly MACD: Bounce Underway

Chart courtesy of tradingview.com

IOTA is one we recently picked out as a chart with a particularly bearish near-term pattern, but a pattern that could also flip and become a bullish signal if the market was able to respond in the right manner to new levels brought into focus on the downside as initial support levels gave way.

Whether or not we will begin to see this type of rescue bid in IOTA is still very much an open question as it takes time to paint a picture that can be trusted on a chart.

At this point, as we have noted a number of times, the region between $0.85 and $0.90 is really where the rubber meets the road.

What we really don’t want to see here – from the perspective of current IOTA HODLers – is a break that closes a 24-hour period below $0.80.

Tron (TRX)

Price Analysis

  • High: $0.033901
  • Low: $0.032399
  • Major Resistance Level: $0.04
  • Hourly MACD: Downward Trending

Chart courtesy of tradingview.com

As we take a look at Tron (TRX) right now, some technical damage has definitely been done. First off, the potential for an ascending triangle breakout above the $0.04 level has been eradicated at this point.

We noted in our recent coverage that this was possible. Our concern was that it might take out the sloped trendline support brought into place over the last couple of weeks before it was able to break above recent range resistance.

Given the turn in the complex, we have in fact broken that trendline in Tron (TRX) and are now setting up to seriously challenge key support levels.

For this chart, in particular, that presents the possibility of a shakeout of weak-handed participants, which could bring into play support levels last seen in March in TRX at around $0.025.

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

What Changes May the Crypto Space Experience in 2019

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crypto
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After the crypto hype of 2017, a lot of newly-arrived crypto enthusiasts were caught off-guard by the price crash and bear market that took over in 2018. One month after another, investors were waiting for things to change, and for another bull run to take place. Unfortunately, this did not happen in 2018, and while the year’s final days were seemingly stable, the rally everyone wanted to see has failed to arrive.

However, crypto investors remain optimistic, with many of them hoping to see some changes arrive in 2019. There are rather great expectations of this year, especially since the last one failed to deliver. However, many are interested in what exactly is to be expected in this year, which is what we will talk about today.

Bitcoin ETF approval

The US SEC’s decision regarding Bitcoin ETFs was one of the most anticipated events throughout 2018. Sadly, the decision constantly got delayed, and the SEC never actually provided an answer. The last delay has pushed the decision into 2019, and it is now expected to arrive on February 27.

Historically, the SEC was never ready to approve Bitcoin ETF, and many believe that the delays came due to the fact that the market was not ready for then in 2018. This is backed by the fact that the SEC rejected multiple application throughout the year. VanEck and SolidX…

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Blogs

Reasons Why 2019 May Be A Great Year For Crypto

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crypto
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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

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Blogs

3 Coins with the Largest Potential in 2019

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coins
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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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