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$MAID MaidSafeCoin (MAID) Technical Analysis – Is MAID Ready To Set Itself Free?

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MaidSafe
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How much of your life is stored digitally?

Your photos, your files, your most intimate conversations, it’s all on a hard drive somewhere and it’s probably easy to access by you, but also by the cloud storage companies you trust.

MaidSafe (MAID) is a company that is designing and implementing what they call the SAFE Network – a next-generation decentralized and secure network. The SAFE (Secure Access For Everyone) Network is a new secure and decentralized data management service that is built by sharing the unused computer resources of the individual network participants. Each user of the SAFE Network provides a part of their computer resources: data storage space, processing power, and Internet connectivity thus forming a large decentralized network.

The SAFE network puts its user’s safety and security on top of everything else and so the user data is encrypted and broken up into chunks that are spread among the users of the network. The people that participate in it are not actually aware of the data they have been asked to store on their systems, not they have direct access to what is currently stored on their computers. Furthermore as a user if you share some of your unused computing resources on the SAFE network you are going to be compensated for doing so and get paid in Safecoin crypto tokens.

The SAFE network is not being controlled by a single large entity or a multiple of global ones, it is not controlled by anyone in fact as it is decentralized and the users participating are what is essentially building up the network itself. So without people like you, the future user of the network there will be no network. There will be no privacy violations whether you decide to host your own website on the network, visit a website somebody else already made, create or run an application or just provide some of your spare computing resources to help make the SAFE network bigger and stronger.

With that said, let’s take a look at the Chart of MAID below and see what the technicals may be foreshadowing.

As we can observe from the chart above, MAID has been grinding steadily higher over the course of the past several weeks despite a difficult and challenging environment trading above both its 20 (yellow line) and 50 (blue line) day moving averages, which depicts a short as well as an intermediate-term favorable posture from a technical standpoint.

In addition, we can also see that MAID is rapidly approaching a critical inflection point designated via the light blue horizontal line on the chart acting as potential short-term resistance.

Furthermore, for the past several months (since February), the 200 (red line) day moving average has kept a lid on the price of MAID as we can witness from the daily chart above.

Nonetheless, MAID appears to be building energy/cause and may perhaps, finally be ready to attack and clear the 200DMA and set itself free.

Thus, let’s have a look at the levels to monitor moving forward for further clues/evidence that may set MAID free, once-and-for-all.

If at any time in the days ahead, MAID can go top-side of the .55 level, such development, should it indeed materialize, would more than likely trigger its next meaningful advance with a price objective in the .70-.75 zone. With respect to the potential short-term support, both investors/traders may want to monitor the .40-.43 area as well as the .35 figure to lend support.

While further work remains in order for MAID to set itself free, both investors/traders may want to pay close attention to the action in the days ahead and put MAID front-and-center on their radars.

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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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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…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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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…

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