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Ripple (XRP) Stellar (XLM) Price Analysis – Exhaustion Awaits

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Ripple
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Today, we’re going to take a close look at two charts that bear some clear resemblance within the spectrum of large market Coins in the crypto complex right now.

Both Ripple (XRP) and Stellar (XLM) are in wide-swinging trading ranges, or consolidative patterns, in the wake of the energetic mania style bull market that we saw to close out 2017. And both of them may be said to be in relatively bearish postures at present, however, with the potential to inflect and thereby exemplify and highlight what could be interpreted as powerful accumulation bids by strong hands setting the terms of support at key levels.

The most important feature that would mark such a shift would first be signaled by an exhaustion of the selling force that has defined this bearish trend for most of this year to date.

Ripple (XRP)

Price Analysis:

  • High: $0.45184
  • Low: $0.44020
  • Major Resistance Level: $0.47
  • Hourly MACD: Steady Downside Momentum

Chart courtesy of tradingview.com

Ripple (XRP) has established clear and important support around the $0.45 level. This level was established as a level of interest earlier this year when the coin made its lows toward the end of March and the beginning of April. We have now begun to test that level and slightly break underneath it, as we formulate the action for June and July.

This is a critical stage for XRP. As the pattern evolves, one no doubt can see the potential for something similar to a descending triangle pattern underway at a relatively significant time frame.

Under most circumstances, such a pattern has bearish implications. However, it can also be an exceedingly bullish pattern if the attempt to follow through on the downside is denied, thereby highlighting the importance of the level for deep-pocketed bulls who have begun to move in and accumulate this coin.

While we don’t yet see the signals that would differentiate these outcomes in the case of XRP, we do know that recent lows have been exemplified by oversold readings on a number of different important technical oscillators, suggesting that downside momentum has at the very least stalled out.

Selling pressure may well resume, but the region on the XRP chart defining the recent lows toward the end of June should be marked out with a close eye as it can define a reasonable risk point for speculative entries in Ripple (XRP) right now.

Stellar (XLM)

Price Analysis:

  • High: $0.196650
  • Low: $0.183387
  • Major Resistance Level: $0.215
  • Hourly MACD: Oversold on Sharp Momentum

Chart courtesy of tradingview.com

When we look closely at the Stellar (XLM) chart, we see something quite similar to the picture we find in many different coin charts at present: an important low toward the end of the first fiscal quarter that is being retested in recent action.

This process can be viewed a couple of different ways. From one point of view, it’s precisely what you may expect as part of the procession of a bear market. Levels get established, and then they get broken.

But that’s exactly where this type of chart becomes very interesting.

It is, in fact, an important technical testing ground. One assumes that the level being tested represents a spot on the chart – a price level – where we previously saw a large supportive bid enter the complex has a whole, and in Stellar (XLM), in particular.

And that’s where the testing process bears itself out as such an important feature in the construction of a technical chart pattern: if we see XLM attempt to break below that level and effectively fail at that breakdown, then we may, in fact, be seeing an important low come into place that offers a sound entry point for aspiring bulls to get involved with defined risk.

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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