As the reader is no doubt aware, technical analysis is the process of understanding the market simply through analyzing the behavior of its participants. It often provides a stark and valuable check and balance measure when a pure technical analyst forges an opinion to be balanced against those of fundamental analysts working to understand the same market.
- High: $1.03327
- Low: $1.01279
- Major Resistance Level: $1.065
- Hourly MACD: Lateral Consolidation
IOTA, while trailing some other major coins in the crypto complex over the past month, continues to represent a coin that remains well above the levels that we were seeing last fall.
In fact, IOTA is still 200% above where it was last November. This is significant as we have seen so many coins give up everything they saw during the maniacal bull run witnessed in the cryptocurrency complex in November and December of last year.
Without question, the critical factor right now for IOTA is to hold on to the $0.88 support level “for dear life”.
A hold at this point in the process could very well unleash a break back up to retest recent range highs between the $1.18 and $1.25 levels. If this type of move can be managed at this point, one could make a very strong case that IOTA has successfully formed its double bottom support measured against the April lows, thus clearing the way for potentially much higher prices ahead.
- High: $0.038697
- Low: $0.036306
- Major Resistance Level: $0.04
- Hourly MACD: Pullback in Emerging Bullish Pattern
Tron (TRX) has been gradually curling off of its mid-July lows in a manner that is highly suggestive of a potentially important bottom.
This pattern has particularly evolved over the last 48 hours to include what may well be a breakout above the 50-day simple moving average now in progress.
This could be particularly important because it also represents a possible break above important resistance at the $0.04 level. This has been an important level for Tron (TRX) going back over the past eight months and possibly longer.
In addition, we have recently seen another technical measure evolve on the TRX chart that supports this same idea: a 14-day RSI bullish divergence that blossomed on July 23.
If we continue to see the current process play out, it could potentially make way for a breakout move in a test of the 200-day simple moving average at the next important level of $0.05.
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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
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
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