The current rankings for Ethereum and EOS are 2nd and 5th according to CoinMarketCap. Ethereum individual price is suffering a 6.67% low and currently being exchanged at $437 approximately whereas EOS is stuck at 8.85% low being traded at $6.95 at the time of writing.
Global crypto markets have been going through a hard time since world economists predicted harsh government regulations knocking out BTC once and for all. This has influenced top 5 altcoins in the crypto space, including Ethereum and EOS which are both suffering from a bearish trend at the time of writing.
The key highlights from Ethereum analysis are as follows;
- ETH can’t seem to move away from the inevitable bearish trends surrounding it. The support area against US Dollar is placed close to $425 for now and experts believe if the present situation persists we might observe a heavier decline in ETH market prices.
- As for the Ethereum price resistance, yesterday charts for ETH show that there had been some heavy losses. Ethereum attempted to go above $500 mark but Bancor hack dealt a heavy blow on Bitcoin recovery and also weakened Ethereum’s momentum.
- It’s evident that Ethereum is gaining a downtrend traction which would soon be testing Fibonacci extension levels. Current high is close to $438 and while current low is hovering around $435.76. The hourly MACD is placed in the sell region as the daily MACD indicators show a strong sell sentiment traversing all over the market. The RSI has reached 40 and it is expected to shoot up to 60 should the markets manage to acquire a 1-2% uptrend today.
EOS is still under transition to its mainnet and is being scrutinized for its vulnerable security and centralized approach to fixing its flaws. Its key highlights are as follows;
- The daily high for EOS is around $7.47 whereas the daily low at the time of writing is $6.85. Yesterday EOS markets opened at approximately $8.22 and closed at $7.44 after suffering heavy losses because Bancor reported exploitation of $12.5 million worth of BNT.
- The relative strength index for EOS has reached to 36 and the MACD is stuck under sell region for the past few hours. The reason for EOS having been hit so hard is due to BlockOne’s passing negative statements which has been confirming their centralized behavior for quite some time. Traders are waiting for EOS to fail opportunities of breakout and hit $4.
- The current EOS market trends have proven itself beneficial to the dApp developers who mean to take advantage of the low prices and utilize the blockchain to their advantage. As per the charts, it is easy to tell that the relative strength index is going down to suggest a stronger sell zone as the MACD is also placed in the slightly strong sell region.
A faint but positive surrounding the markets have confirmed that Bitcoin adoption as a payment method would be boosted within the next decade according to mainstream media. But it will take time for the ETH and EOS markets to recover from the current situations.
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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
Here’s Why This Coin Still Has Wings (WINGS)
WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.
Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.
What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.
The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…
6 Blockchain Predictions For 2019
As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.
While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.
1. Search for new and better business use cases
Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.
Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.
2. Fixing blockchain industry’s image
For a lot of people, blockchain…
TRON DEX Goes Crazy, TRX Founder Asks For More Projects
Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.
So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.
— Justin Sun (@justinsuntron) November 13, 2018
TRON DEX sees massive growth in activity
Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.
While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.
In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…
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