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NEO Ethereum (ETH) Price Analysis: Reading the Tea Leaves

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NEO
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While Bitcoin itself hasn’t come even close to making new bear market lows over the course of the past week of action, a number of large market cap coins have this dubious honor. In other words, when looking at the cryptocurrency complex as a set of pieces, breadth has been a clear bearish factor in recent action.

The two coins we are going to look at below – NEO and Ethereum (ETH) – are examples of relative weakness in the context of this trend.

However, the technical signals we see in each case offer some potential for opportunity coming into place on these charts right now. As sentiment sours, opportunity often sweetens.

NEO

Price Analysis

  • High: $27.215
  • Low: $25.874
  • 24-Hour Volume: $53.88M
  • 7-day Percent Change: -18.67%

Chart courtesy of tradingview.com

NEO is an extremely interesting technical case study at present. The coin is locked in what appears to be a continuing bear market based on every standard measure of technical interpretation.

However, NEO is also right now coming into a critical zone of very important support defined by what we might call the launching pad that came into place during October 2017 right at the $25 level.

One can make a strong case that NEO is currently oversold, with both the 14-day RSI and hourly MACD indicators flashing evidence to that effect right as we come into this massively important support zone.

On a bounce, the $30 level will clearly be one to watch.

Ethereum (ETH)

Price Analysis

  • High: $410.57
  • Low: $403.42
  • 24-Hour Volume: $1.34B
  • 7-day Percent Change: -10.59%

Chart courtesy of tradingview.com

Ethereum (ETH) has been making lower lows relative to the pattern put into place earlier this summer. The breakdown that began this latest leg lower was a breach of a one-month-long upward trend line that characterized the action in July – along with many other large market cap coins.

However, when this trendline was broken early last week, we also saw the coin moving off of resistance at its 50-day simple moving average.

This was a difficult one-two punch that bulls in Ethereum (ETH) just couldn’t shake off.

At this point, key support is in place at the $400 level. That level is now defining the action for this chart. However, the MACD indicator for Ethereum (ETH) is flashing a positive signal at present, and interior resistance lies just above at the $425 level.

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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