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

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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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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TokenRoll
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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