Connect with us

Blogs

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

Published

on

IOTA
READ LATER - DOWNLOAD THIS POST AS PDF

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~

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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite