Connect with us

Blogs

Stellar (XLM) Cardano (ADA) Price Analysis: Game On

Published

on

Cardano
READ LATER - DOWNLOAD THIS POST AS PDF

When volatility increases, it is often the most important time to focus on the virtues of technical analysis.

Price changes in an asset that we value often have an impact on our psychology and our emotions that is difficult to perceive and to assess. Hence, having a toolset with a defined set of rules that specifically impinge upon how we articulate to ourselves the behavior that we are seeing can act as a cornerstone for holding ourselves accountable in our decision-making as we participate in such a volatile financial market.

As such, we would suggest that the current moment in the cryptocurrency complex is a perfect application for such a cornerstone. And we will attempt to exemplify this as we take a close look at Stellar (XLM) and Cardano (ADA).

Stellar (XLM)

Price Analysis

  • High: $0.24684
  • Low: $0.24255
  • 24-Hour Volume: $51.26M
  • 7-day Percent Change: -18.79%

Chart courtesy of tradingview.com

Stellar (XLM) is one of the coins we find most interesting during this current pullback following the July bounce across the cryptocurrency complex. We noted last week that we thought this may well check back to under the $0.24 level, and at the same time thereby check back to key support at a rising 50-day simple moving average.

So, what we have here is as follows: Stellar (XLM) has been clearly outperforming most of the large market cap coins in the cryptocurrency asset class over the past six weeks. It has also done so on sharply rising average daily volume. And now, when the complex is pulling back, we are seeing Stellar (XLM) pullback to a level that appears to be a higher-low under formation, and finding support during that pullback at a key technical support measure that has shifted into a potentially bullish mode.

If this is possibly an important inflection in the broader crypto space leading to a new bull market, then one can easily forgive themselves for biasing their emphasis towards XLM given its recent behavior. In other words, it’s worth an extremely close look right now.

Cardano (ADA)

Price Analysis

  • High: $0.13582
  • Low: $0.12991
  • 24-Hour Volume: $49.35M
  • 7-day Percent Change: -15.71%

Chart courtesy of tradingview.com

Cardano (ADA) has pulled back to almost perfectly test support at its mid-July lows in the $0.12 area. This follows the pattern we have seen in many other large market cap coins over the last several days.

However, the bounce that we’ve seen over the past 12 hours in Cardano (ADA) has shown itself to be somewhat more powerful than we have seen in many other coins across the complex during that same period.

That suggests the possibility that we are nearer to some kind of selling exhaustion for Cardano (ADA). However, if we have any doubts, they are spawned by the fact that the hourly MACD indicator has already moved toward an overbought level on what has not been a dramatic bounce. We would far prefer to see the oscillators quiet at this point in the bounce.

That said, this doesn’t rule out the possibility that Cardano (ADA) could begin to show positive signs in terms of how it deals with these critical support levels.

Happy Trading~

For the latest cryptocurrency news, join our Telegram!

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

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

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,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite