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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

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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