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Ripple (XRP) Bitcoin Cash (BCH) Price Analysis – An Unfamiliar Problem

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Ripple
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Cryptocurrency traders have an interesting problem in recent action: at long last, needing to make the adjustment from bearish assumptions to bullish assumptions as far as near-term technical action is concerned.

This can actually be a bigger problem than it sounds. Our minds get trained to extrapolate our recent experiences. This is called a “recency bias”. And it can be a major hurdle for those seeking to profit from tried and true technical setups such as the ones we will look at below.

Today, we’re going to take a look at the recent action and longer-term patterns for Ripple (XRP) and Bitcoin Cash (BCH) with an eye on determining near-term potential.

Ripple (XRP)

Price Analysis:

  • High: $0.46364
  • Low: $0.45829
  • Major Resistance Level: $0.50
  • Hourly MACD: Emerging Upside Momentum Potential

Chart courtesy of tradingview.com

As we take a look at the chart for Ripple (XRP), the most salient factor is unquestionably the broad supportive pattern along the $0.45 level.

The other key factor to note here is the upside potential if we are to see this coin break through the $0.50 level from here.

Support has been well-established between $0.42 and $0.45. We have a variety of different indicators supporting that hypothesis, including oscillator divergences and candlestick patterns – just take a look at the chart above and note all of the long-tailed doji’s sticking to the downside at support in both April and over the past month.

At this point, Ripple (XRP) is in a face-off with the $0.50 level, where it has strong pattern resistance as well as a declining 50 day simple moving average at chart confluence.

If we see a punch above this level, it may well be off to the races for Ripple (XRP).

Bitcoin Cash (BCH)

Price Analysis:

  • High: $842.10
  • Low: $831.10
  • Major Resistance Level: $875
  • Hourly MACD: Emerging Upside Momentum

Chart courtesy of tradingview.com

Bitcoin Cash (BCH) is clearly tagged along with recent strength in Bitcoin – its older brother. The most notable recent development for Bitcoin Cash (BCH) is the punch above the key 50-day simple moving average in confluence with the all-important $800 level.

The move above this level and above the moving average constitutes a potential pattern break that pushes this chart into a new bullish context.

It will be critical to see Bitcoin Cash (BCH) maintain this new tone and not slide back under the $775 level, where sloped support could bring about a flush of newly minted long side traders.

If this is a trading range in play in 2018, then the potential here is extraordinary, with the next level resistance miles above at the $1200 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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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