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TRON (TRX) Technical Analysis – TRON Leads The Way – A Lone Ranger

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Tron
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While the entire cryptocurrency landscape has been treated to a broad-based sell-off over the course of the past 36-48 hrs, whereby the wrath of Mother Market wrecked havoc throughout, driving prices lower with a sea-of-red and in the process, inflicting meaningful technical damage, there has been a lone standout, whom has withstood the onslaught in relatively fine shape from a technical perspective.

As readers of Global Coin Report are well aware, we’ve been shedding light on the exemplary display of relative strength in the action of TRON (TRX) over the course of the past several weeks despite the slippery slope of the overall cryptocurrency marketplace.

Not only has TRX been able to avoid the broad-based selling pressure throughout, yet, TRON has been able to maintain its position, albeit, testing short-term support and bouncing back like a champion, while holding its 50-day moving average (blue line) as we can witness from the daily Chart below:

As we can observe above, while numerous cryptocurrencies have and continue to display poor relative strength and many find themselves trading below their 20/50 and 200DMA’s, TRX presently finds itself in far better shape from a technical perspective than most (a majority by far) of its brethren.

We can see from the daily chart above that TRX has and continues to trade above its 50 and 200DMA’s weathering the recent stormy sea’s and although its tagged the 50DMA, TRON has been able to hold the line in fine fashion.

In addition, when we zoom into the 4HR time-frame Chart below, we can also observe that TRX has held short-term potential support located at the .063 level, although, it has some further work to do before recapturing its 20 (yellow line) and 200DMA’s (red line) on the 4HR.

Thus, while far too many names throughout the cryptocurrency sphere have a tremendous amount of work and repair in order before their technical picture improves, TRX continues to lead the way via its persistent relative strength and in essence, remains ‘The’ leader amongst all at this juncture.

Moving forward, both investors/traders may want to monitor the following levels for further clues/evidence with respect to direction in the action of TRON.

If, at any time in the days ahead, TRX is capable of going ‘top-side’ of the .076 level and perhaps more importantly, the .085 figure with volume, such development, should it occur, would more than likely trigger a move into higher ground with a short-term objective in the .10-.11 zone.

If on the other hand, Mother Market were to reassert its wicked ways and deliver further downside pressure, both investors/traders may want to utilize the .06-.063 zone as initial potential short-term support, while more meaningful support resides at the .05-.056 area.

Nonetheless, while numerous have found the footing treacherous these past 36-48 hours, TRX has acted as a beacon of light via its ability to thus far weather everything delivered its way, while continuing to display excellent relative strength in a turbulent environment.

Therefore, for those seeking leadership, one may want to put TRX front-and-center on their radars for further monitoring as we navigate a slippery and difficult tape.

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 Norma Desmond1 via Flickr

Charts courtesy of tradingview.com

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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