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XRP Bitcoin Cash (BCH) Price Analysis: Something’s Brewing

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XRP

All markets are basically cyclical in some sense, in that they have up periods and down periods and that they are tied to other markets in inextricable ways. As we consider the action today in XRP and Bitcoin Cash (BCH), it will be important to keep this in mind.

Here are two very different markets that have both thrived on some level given their status as two of the higher market cap coins in the world. But recent action has demonstrated some very different technical accomplishments and obstacles in play for participants in these markets at the moment.

XRP

Price Analysis

  • High: $0.45638
  • Low: $0.45237
  • Major Resistance Level: $0.50
  • Hourly MACD: Tight Consolidation

Chart courtesy of tradingview.com

XRP has been locked in an incredibly tight range over the past nine days, centering itself around support at the $0.45 level. We have identified this level in the past as absolutely critical for this coin.

For traders with high exposure levels to XRP, a dip lower from here to challenge the $0.42 level once again would likely be a relatively scary ride. It’s something like tiptoeing along the edge of a cliff at this point.

However, we would take heart in the fact that it has tiptoed along this cliff successfully a great deal over the past month. And it is no worse for wear.

In fact, we would argue that there is likely plenty of weak-handed money that has probably already been chased out of positions in XRP during that time, and would, therefore, be highly susceptible to a FOMO rally if XRP begins to break back higher and challenge the $0.50 level anytime soon.

Bitcoin Cash (BCH)

Price Analysis

  • High: $828.22
  • Low: $814.61
  • Major Resistance Level: $900
  • Hourly MACD: Brewing Momentum

Chart courtesy of tradingview.com

As noted above, Bitcoin Cash (BCH) has been a little bit more impressive over recent weeks, stretching itself well above $700 support, breaking above its 50-day simple moving average, and putting into play the potential for a breakout above multi-month range highs around the $900 level.

This is a relatively impressive tactical set up at the moment. It suggests the possibility that a major breakout here could be brewing. However, correlation levels do dominate things for this coin and it must be appreciated that this is not going to likely act all on its own.

That being said, one can’t argue with potent combinations of causal factors appearing on the charts in tandem. Confluence is an important characteristic for technicians, and the factors in play for Bitcoin Cash (BCH) scream of confluence right now.

What we’re seeing here is a clear series of higher lows and the formation of a breakout level that could trigger and suck in a lot of new money looking for some way to get involved in an outperforming asset in a newly performing asset class.

Ultimately, the outside upward target on an initial breakout in BCH could be as high as $1100. Keep an eye on this one.

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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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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