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Stellar (XLM) Cardano (ADA) Price Analysis  — The Empirical Evidence

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Cardano
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The goal of a technical trader is never about some deep philosophical alignment with the fundamental vision. This is business. It’s not personal. And allegiances to long-term visions are a personal decision when they conflict with the empirical evidence.

However, with most other asset classes, traders have the option to play both long and short with no problem. In the crypto space, for the most part, you’re dealing with a one-sided game.

In any case, we like to remain objective and see what’s in front of us. As we take a close look today at Stellar (XLM) and Cardano (ADA), our goal is to identify the important technical levels of support that may offer either an opportunity for involvement or a key battleground that can inform us further as to the state of these markets and their dominant trends.

Stellar (XLM)

Price Analysis

  • High: $0.28036
  • Low: $0.26504
  • Major Resistance Level: $0.30
  • Hourly MACD: Strong Bullish Reversal

Chart courtesy of tradingview.com

The chart for Stellar (XLM) is possibly one of the most interesting across the cryptocurrency space right now.

We generally like to see relative strength, and there has been plenty of that here. In fact, Stellar (XLM) was able to rally nearly 100% in just 12 days earlier this month.

Now that we are pulling back in Stellar (XLM), it is wise to take note of some key levels that may provide a pullback entry point for what clearly is a coin that is trying to emerge as a new leadership play in the cryptocurrency complex as a whole.

The most striking level to watch for here is between $0.23 and $0.24, which is where we see a confluence between the 50-day and 200-day simple moving averages. This would also represent a flush out of stop-loss orders under the $0.25 level, which appears to be an advantageous place to back up the truck in XLM.

Cardano (ADA)

Price Analysis

  • High: $0.14418
  • Low: $0.13539
  • Major Resistance Level: $0.15
  • Hourly MACD: Strong Turn off Lows

Chart courtesy of tradingview.com

Cardano (ADA) is another extremely interesting chart in play right now. We have a number of key support levels to test, and little immediate threat of breaking through the ultimate lows for the bear market over the next day or two unless things really get out of hand on the downside.

First off, the market will be dealing with key support at the $0.13 and $0.12 levels, before coming into a potential test of its bear market lows around $0.113.

Ahead of that, however, we suggest you don’t overlook the possibility of trendline support, which should come into play for Cardano (ADA) at just above the $0.1320 level.

If we do start to see support and an inflection back the other way in ADA, look for initial resistance to come into play all the way back at the $0.16 level, where it has appeared on a number of occasions.

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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