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IOTA Tron (TRX) Price Analysis  — The Rubber is Meeting the Road

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IOTA
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This morning, the pressure is once again returning to the cryptocurrency complex with a vengeance. Over the past 24 hours, we have seen support levels identified and then broken.

The two coins we will cover below are the two we have seen as most technically vulnerable in our recent coverage: For IOTA and Tron (TRX), there are potentially larger time frame consequences for this particular breakdown, as we shall cover in depth here.

IOTA

Price Analysis

  • High: $0.93193
  • Low: $0.88399
  • Major Resistance Level: $0.90
  • Hourly MACD: Trending Lower

In our coverage of both of these coins yesterday, we suggested that they each represented more technical vulnerability than most of the rest of the cryptocurrency complex, and particularly the focus large market cap coins that we tend to cover more closely.

IOTA is flirting with a descending triangle breakdown that is coming to fruition in a manifest form this morning as the coin probes its multi-month lows around the $0.88 level.

If we break below this area in IOTA, we will be establishing new lows for 2018 with the $0.80 level lined up as the next visible area of support.

Tron (TRX)

Price Analysis

  • High: $0.033196
  • Low: $0.030924
  • Major Resistance Level: $0.32
  • Hourly MACD: Trending Lower

The story in Tron (TRX) is about new multi-month lows coming into place this morning and the possibility of a test of the $0.03 level that was so critical in supporting this coin back in February and April of this year.

We are seeing major oscillators roll over at this stage but not yet reach oversold extremes, which makes it awfully tough for prospective bulls to step in front of this action.

The key level to watch from here if we do manage to break under the $0.03 level in TRX will be critical support at $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

Bitcoin

Importance of Bitcoin ETFs and Bakkt for the Crypto Space

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Bakkt
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It is no secret that 2018 was a very bad year for cryptocurrencies, at least when it comes to prices and market cap. However, in its brighter moments, this year managed to set the stage for some very important events that are expected to make 2019 very successful and profitable. Two things have attracted the most attention, both of which were expected to occur in 2018, only to be moved for early 2019. Those two are Bitcoin ETF decision by the US SEC, and the launch of Bakkt.

What are Bakkt and Bitcoin ETFs and why are they important?

Let’s start with Bakkt first. Bakkt Exchange is a business that is set to launch at the very beginning of 2019. It is a cryptocurrency platform that is set to offer a large number of services, including things such as warehousing and trading. However, there is another thing that makes Bakkt special, and that is the fact that the exchange itself is a product of the same company that has created the New York Stock Exchange.

In addition, Bakkt will be supported by some very influential names, such as Microsoft, BCG, and even Starbucks, to name a few. Furthermore, Bakkt will support crypto-to-fiat conversions. Starbucks will actually be one of the companies that have volunteered to help test the system, as users will be able to convert crypto to USD that can then be used in Starbucks.

Bakkt exchange…

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Blogs

4 Best-Performing Cryptocurrencies in the Current Bear Market

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cryptocurrencies
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Cryptocurrencies have been experiencing a strong return of the bearish trend for weeks now, and only now does it show signs of weakening. However, experts believe that the situation will not repair itself so easily and that prices will remain low for a certain period.

However, when bear market strikes, the sentiment gets most bearish when the trend reaches the bottom. Everyone starts selling, and while short sellers can make a profit in this situation, analysts usually warn that the sale will only knock the prices down even further. Since most of the crypto-related news is already negative at this point, such predictions often make sense.

However, there is still one thing to keep in mind, which is the fact that when downtrend enters a capitulation, that often signals that a new bottom has been found. That is the perfect time to actually go against the bearish trend, and start buying. It is also a good opportunity to abandon the coins that seem too risky, and do not seem to have that bright of a future ahead of them.

Bitcoin has dropped by 87% from its all-time high, which it hit back in January. However, the rest of the market dropped with it, and it never lost its dominance, which still remains above 50% of the total market cap. In other words, while its price may have sunk to lows that were not seen for a while now, it…

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Blogs

Will The Stock Market’s Bearish Outlook Affect The Cryptocurrency Market?

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cryptocurrency market
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About 3 months ago I was reviewing what was happening in other markets as the cryptocurrency market kept falling. So I opened up TradingView and what I saw was something so incredible I had to look a second time, I thought I had opened up the BTC/USD chart but it had not yet fallen. I was a bit confused, but I realized my TradingView opened to the DOW, at the time it was looking extremely euphoric and then upon a little more research I saw it was in the longest bull since its conception.  I instantly wanted to see does this just apply to the Dow Jones or does it also apply to the likes of the Russel, S&P500, Nasdaq, Vanguard and then I even looked at the housing market. What I saw I am honestly going to say baffled me, what was there before me was a perfect opportunity, I knew that soon the stock market would fall and started letting people know about hedging.

Last year for many was a huge learning experience and even if many lost money, they learned about financial markets for the first time and may have bought their first ever investments. This was a huge plus for many people who were labeled noobs or noob investors. Why you may ask? Well, the simple answer is that noobs tried investing for the…

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