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IOTA Tron (TRX) Price Analysis  - Key Levels Come Under Fire - Global Coin Report
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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

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

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The possible reason for the rally

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