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Price Analysis for Ethereum and EOS: What Does the Future HODL?

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Ethereum
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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.

Ethereum Analysis

Chart courtesy of tradingview.com

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 Analysis

Chart courtesy of tradingview.com

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.

Final Thoughts

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.

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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