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NEO Ethereum (ETH) Price Analysis: Keep Calm and Analyze

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NEO
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The goal of a technical analyst during periods of dramatic weakness, as the bear stands up on its hind legs and roars with fury, is to leave emotion out of the game and focus on potential support levels and severely oversold levels in major oscillators. This will be our goal today as we examine the action in NEO and Ethereum (ETH).

Both of these coins have been recently underperforming, but both charts contain some very interesting features that deserve close attention.

NEO

Price Analysis

  • High: $25.102
  • Low: $22.997
  • 24-Hour Volume: $61.72M
  • 7-day Percent Change: -17.58%

Chart courtesy of tradingview.com

As we have noted in our recent analysis, NEO has been badly underperforming the cryptocurrency complex for the majority of the past six months.

In some ways, it appears as though the bear market for NEO is actually more advanced in terms of its overall technical form, having performed a complete round-trip – or “Christmas tree pattern” – relative to the powerful surge higher we saw in December and January.

At this point, we are already triggering severely oversold levels in the 14-day RSI measure, which is also showing a potential bullish divergence relative to its readings seen during the pivot formed toward the end of June.

One key support level that may come into play for NEO if this action persists is the pivot low formed at the very beginning of November 2017 at around the $22.50 level.

Ethereum (ETH)

Price Analysis

  • High: $380.15
  • Low: $365.74
  • 24-Hour Volume: $1.90B
  • 7-day Percent Change: -10.87%

Chart courtesy of tradingview.com

Ethereum (ETH) is in some ways very different from NEO but in other ways very similar.

Ethereum (ETH) has already badly broken below its late June lows, as well as key support at the $400 level. However, it remains well above the pivot formed in early April down near the $350 level. This is the clear target that we see in play during current action, as it also lines up confluence with the minor pivot high scored on the charts in the middle of October 2017.

This is an extraordinarily important level for Ethereum (ETH), and a break below it could put into play the range lows formed around the $275 area during early November of last year.

However, with a bearish trend in place, and assuming no new fundamental catalysts, one has to assume that any bounce – if we are in a persisting downward trend at the moment – should encounter very difficult resistance in the zone defined roughly as a tight range from $395 and $405.

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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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