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Stellar (XLM) Cardano (ADA) Price Analysis – Different Ways to Show Strength

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Stellar
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Examining the recent strength of the cryptocurrency complex can provide some interesting insights. First of all, the space can clearly be divided into the leaders and laggards. Such should be defined on merely technical grounds when making comparisons based on an asset class-wide dynamic.

Today’s pair of coins – Stellar (XLM) and Cardano (ADA) – provide excellent examples of this set of concepts.

Stellar (XLM)

Price Analysis:

  • High: $0.3443
  • Low: $0.3323
  • Major Resistance Level: $0.35
  • Hourly MACD: Recent Overbought Extreme

Chart courtesy of tradingview.com

Stellar (XLM) has been on fire, up as much as 75% since the middle of this month.

For those who have been buying into the pullback in Stellar (XLM) off of its May highs, this action is decidedly welcome.

The coin has blasted off through its major moving averages, to test and even exceed the 200-day simple moving average on an intraday basis.

This brings into play the potential for a run at very important resistance at the $0.50 level, but it will need to get through the $0.35 level on a closing basis to set that in motion first.

Cardano (ADA)

Price Analysis:

  • High: $0.176
  • Low: $0.171
  • Major Resistance Level: $0.20
  • Hourly MACD: Emerging Trend Change Potential

Chart courtesy of tradingview.com

Cardano (ADA) is coming off of the recent stronghold of support in the $0.12 area.

Recent action has included a higher-low pivot point following a lower-low test of the March lows. This is an extremely compelling combination of swings because it suggests weaker hands have already been kicked off the bus before stronger hands came in and started to support the pattern with resolve.

This is exactly the type of dynamic that we look for when reviewing any chart from a technical standpoint.

In addition, following a nice RSI divergence at the lows, the establishment of a higher low, and a breakout above the key 50-day simple moving average, we now see a clear and sharp rise in average trading volume over the past few days.

At this point, all the signs are in place for a possible run at a fresh test of the territory above the $0.20 level for Cardano (ADA).

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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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