Connect with us

Blogs

Tron (TRX) Cardano (ADA) Price Analysis: On the Floor

Published

on

Tron
READ LATER - DOWNLOAD THIS POST AS PDF

We have noted several times over the past two weeks that the bearish extension we are now seeing play itself out in the cryptocurrency space is something that has wide variation among different coins.

For example, as we look at the charts for Tron (TRX) and Cardano (ADA), we see a huge disparity in terms of how these coins have fared.

But many of the internal dynamics remain similar in terms of the mechanisms that we tend to understand as most important in making up the technical composition of the pattern in place, as should be clear below.

Tron (TRX)

Price Analysis

  • High: $0.019204
  • Low: $0.016122
  • 24-Hour Volume: $139.71M
  • 7-day Percent Change: -39.04%

Tron (TRX) has been one of the worst-performing coins over the summer time without any question. Part of this may be because a lot of hope had been built into the coin – and thus, a lot of weak-handed long positions had crowded into it – during the sideways attempted base in late June and early July.

But, whatever the case may be, Tron (TRX) has been brutalized over the last two weeks, diving below all of its important support levels, and emptying itself out on the floor.

While the pain has been tremendous for the true believers, a technician could have seen it coming – as, in fact, we did.

At this point, there are no obvious support levels below. At such times, we shift our emphasis to a study of the tape. And as we take that view, we can see the clear markers of emotion starting to take hold on the downside.

That suggests that we may not be far off at all from a sustainable low in TRX at this point. Keep your eyes peeled!

Cardano (ADA)

Price Analysis

  • High: $0.10117
  • Low: $0.08434
  • 24-Hour Volume: $95.06M
  • 7-day Percent Change: -29.25%

Cardano (ADA) is finally beginning to close in on its most important test. Last week, as we analyzed this coin, we said it may hit another trapdoor through the dime level and head down to test the key pivot at around the $0.08 area.

That’s exactly the type of action that we saw in place last night.

While we may see a bit more downside in ADA, traders should begin to be on the lookout for a growing potential for inflection. Oscillators are all signaling extreme levels of oversold behavior in a coin that has largely been trading ahead of the pack in terms of a pivot-for-pivot comparative basis.

This is exactly the type of thing we look for when plotting our opportunities from a strictly technical perspective. Hence, we want to have Cardano (ADA) on the radar.

Happy Trading~

To trade cryptocurrencies, sign up with Binance!

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

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

Published

on

crypto credit cards
READ LATER - DOWNLOAD THIS POST AS PDF

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,…

Continue Reading

Elite