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

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Cardano
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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~

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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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