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XRP Bitcoin Cash (BCH) Price Analysis  — Fourth Time’s a Charm?

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XRP
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As the narrative of recent action continues to plot itself out across the cryptocurrency market landscape, we see a number of coins intensifying their dramas where critical price levels are concerned.

Our focus today will be to look at two coins – XRP and Bitcoin Cash (BCH) – that represent very poignant examples of this technical phenomenon on the charts.

XRP

Price Analysis

  • High: $0.448
  • Low: $0.43228
  • Major Resistance Level: $0.45
  • Hourly MACD: Rolling Over

A close examination of the chart for XRP will reveal the critical nature of support at the $0.43 level. Since late June, we have tested this level four distinct times, with the coin finding a renewed bid of support in every instance.

For technicians, this is actually a relatively rare concept: as a rule of thumb, one does not anticipate the potential of a quadruple bottom. Generally speaking, the fourth time is generally a very unlikely bet for support.

However, XRP managed to find that support once again over the past 24 hours, revealing a continued strong supportive bid at the level, and sending the coin sharply back up to test newly established resistance at the $0.45 level.

This suggests the possibility that accumulation at this level is from deep pockets with a strong resolve to continue collecting reserves of XRP based on some level of conviction that higher prices loom on the horizon.

That said, no matter how strong the support level may be, XRP HODLers will no doubt be hoping they don’t need to weather a fifth test of the level.

Bitcoin Cash (BCH)

Price Analysis

  • High: $772.82
  • Low: $746.07
  • Major Resistance Level: $770
  • Hourly MACD: Rolling Over

Bitcoin Cash (BCH) has been an example of relative strength during the course of the action over the past month, with a sharp 30% rise in the middle of July, and what appears to be relatively strong support now in place between $735 and $750.

A move back above $780 would represent a breakout to retake the 50-day simple moving average and get the $900 level back in the sites for those exposed to Bitcoin Cash (BCH).

If we do see a break back to the downside, all eyes will be on the $650 level, where we saw a double bottom from between the June lows and the July lows in a move that leveraged a bullish divergence in the 14-day RSI oscillator in BCH.

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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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DEXes
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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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crypto billionaire
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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TokenRoll
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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