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Tron (TRX) Ethereum Classic (ETC) Price Analysis: Sowing the Seeds of Opportunity - Global Coin Report
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Tron (TRX) Ethereum Classic (ETC) Price Analysis: Sowing the Seeds of Opportunity

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Tron
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It’s tough to argue with the statement that the past 48 hours has represented some of the most brutal selling that we’ve seen in the cryptocurrency complex in months. The picture that has been created varies from coin to coin, with some holding up relatively well and others getting absolutely pummeled. Eventually, this is how opportunity is sowed into the soil of the chart.

The two coins we are going to take a look at today – Tron (TRX) and Ethereum Classic (ETC) – exemplify this as much is any possible pairing.

Tron (TRX)

Price Analysis

  • High: $0.025095
  • Low: $0.023643
  • 24-Hour Volume: $144.90M
  • 7-day Percent Change: -22.91%

Chart courtesy of tradingview.com

Tron (TRX) has been taken out to the woodshed over the last few days, diving below one key support level after another.

However, perhaps surprisingly, Tron (TRX) still remains above its last-ditch pivot lows recorded earlier this year that sit in place around the $0.0225 area. At this point, it isn’t clear whether this zone will be directly tested or not.

Oscillators across many different time frames have become extremely oversold. The MACD on the hourly chart has taken both its baseline and signal line to new lows stretching back over the past six weeks, suggesting extreme downward momentum.

We are potentially starting to see at least a little bit of relief shine through the clouds, and it will be interesting to see if this wave of selling has exhausted itself. Those hanging on and praying for the respite certainly don’t want to see it move below that last ditch line in the sand.

A move back above the $0.03 level would be a dramatic bullish statement for Tron (TRX) over coming days. But we don’t have any clear technical evidence favoring that shift yet.

Ethereum Classic (ETC)

Price Analysis

  • High: $15.4146
  • Low: $14.4657
  • 24-Hour Volume: $416.73M
  • 7-day Percent Change: -1.2%

Chart courtesy of tradingview.com

In contrast to Tron (TRX), Ethereum Classic (ETC) is basically sideways over the past week. However, as we noted yesterday, this may be a bit misleading.

As an experienced technician with more years at this than I’d like to admit, I have seen a fair number of bear markets play out in one market or another. And one thing I can tell you that I have learned over the years for certain is this: headline driven rallies are nowhere near as important or reliable as rallies that come on no news at all.

And in this case, Ethereum Classic (ETC) was clearly rallying on headlines about broadening adoption by cryptocurrency exchanges.

In other words, the abrupt turn from the $20 level back down to recent support below the $15 level was something we like to call “suck them in and spit them out”.

At this point, the oscillators are signaling extremely oversold levels, and we have key support in play between $14 and $15 on the chart. At least some kind of bounce should be in order here for ETC, and the important thing to ascertain is the type of resistance we see coming into play on that bounce, and the level at which it happens.

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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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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