As we have noted in the past, trend direction is rarely if ever actually changed by new headlines in the news. This doesn’t mean it can’t be interrupted by headlines – in fact, it often is. However, the larger direction in the market is almost never infected and altered to become a different direction by new headlines emerging in the media.
That is why we pay so much attention to the charts.
- High: $0.3254
- Low: $0.2661
- Major Resistance Level: $0.32
- Hourly MACD: Oversold Bull Signal
As one of the leaders during this complex-wide bounce, Stellar (XLM) continues to show both stunning volatility and strong support.
For those looking to buy into a dip, we suggested in a recent piece that you look for a break down underneath the $0.28-$0.30 level as a signal for a possible buyable dip. For those with that game plan, we have seen such a dip over the past 24 hours.
At the same time, as noted above, we see an oversold bull signal in the MACD to reinforce the idea that this is a pullback of interest in Stellar (XLM).
For those looking to give it more time and space to come in a bit further, we have perfect confluence right now between the 50-day and 200-day simple moving averages, which are both rising in pitch, and may well end up meeting price on a pullback right at the $0.25 level. This would also correspond with matching support from the lows recorded on July 21.
That could be set up as an impeccable tactical pullback setup in Stellar (XLM) for those with the patience to take advantage.
- High: $0.16658
- Low: $0.14367
- Major Resistance Level: $0.20
- Hourly MACD: Oversold Bull Potential
The action right now in Cardano (ADA) is very interesting. First off, we have a coin that outperformed during the mid-July leg of the cryptocurrency complex strength, rising over 50% in just a few days.
Secondly, we set the stage with a sideways range that narrowed to a head over the course of about 10 days and then began to break lower early this week. Now that breakdown is triggering an oversold reading on the MACD indicator in perfect confluence with a test of support at the 50-day simple moving average.
However, the question is this: have we seen enough of a pullback given the duration in the tightness of the sideways triangle consolidation constructed over the past 10 days?
In this case, there are no perfect answers to that question, and time will have to tell.
However, we can say that the $0.15 level is an awfully important technical level for this coin right now. Bulls in Cardano (ADA) certainly don’t want to see this level taken out too sharply or it could be an awfully difficult thesis to stay with.
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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
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…