Connect with us

Blogs

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

Published

on

NEO
READ LATER - DOWNLOAD THIS POST AS PDF

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~

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

Blogs

Reasons Why 2019 May Be A Great Year For Crypto

Published

on

crypto
READ LATER - DOWNLOAD THIS POST AS PDF

The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

Continue Reading

Blogs

3 Coins with the Largest Potential in 2019

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

Continue Reading

Blogs

Do or Die: 3 Crypto Projects that Really Need to Deliver Soon

Published

on

crypto projects
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.

The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.

However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.

1) Ethereum (ETH)

Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…

Continue Reading

Elite