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XRP Bitcoin Cash (BCH) Price Analysis: The Fork in the Road

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XRP
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Clearly, we are seeing some tidal changes across the cryptocurrency asset class from a bird’s eye view. Right now, we have at hand what must be seen as a defining moment for many different large market cap coins.

In the piece below, we are going to focus closely on XRP and Bitcoin Cash (BCH), not only because they are highly interesting potential opportunities in and of themselves, but because they also exemplify some of the dynamics going on that define the space as a whole.

XRP

Price Analysis

  • High: $0.43655
  • Low: $0.42535
  • 24-Hour Volume: $187.82M
  • 7-day Percent Change: -3.69%

Chart courtesy of tradingview.com

XRP is extremely interesting right now because, more than anything, this coin is showing an almost impossible resiliency in terms of its ability to hold critical support around the $0.43 level.

We have seen seven separate instances of extremely strong support form between the $0.42 and $0.43 levels in XRP over the past five weeks. It has been an extraordinary show of powerful support that clearly marks out a binary outcome with profound implications.

I say there are two possible outcomes here. And only a fool – who, as we know, is easily parted from his money – would suggest anything else. In fact, this is the essence of technical analysis: one must remain empirical and objective, and avoid becoming married to one side or the other of the tape.

While it has been impressive to see the support level hold, if it fails to do so on the eighth attempt, the results could be rather disastrous for those XRP HODLers who have no exit plan at all. Yet, at the same time, for those who gave up on the seventh check of support (or the sixth, fifth, fourth, or third), they may feel equally as bad when they see this back above the $0.50 level.

In other words, as we see these types of repeated proofs of a level, the emotion surrounding one outcome or the other intensifies because the attachment to one’s views of how this will work out intensifies by equal measure.

This will be key to watch.

Bitcoin Cash (BCH)

Price Analysis

  • High: $719.74
  • Low: $691.99
  • 24-Hour Volume: $312.81M
  • 7-day Percent Change: -12.79%

Chart courtesy of tradingview.com

Bitcoin Cash (BCH) has been a very interesting process under development. We have seen this coin lead during certain periods over the past month and lag during others.

At this point, the coin has fallen back solidly below its 50-day simple moving average, but has already triggered an oversold reading on the 14-day RSI – and has done so well above its lows from late June. This could be important as something like a bullish divergence.

At this point, Bitcoin Cash (BCH) is beginning to trigger a possible “buy signal” on the MACD indicator following its hold of support at the $685 level.

This is actually an important level marked by the shoulders of a short timeframe inverted head-and-shoulders pattern that we saw come into construction around the pivot lows toward the middle of July.

As we attempt to mark out the boundaries of a possible bounce in Bitcoin Cash (BCH) over the coming hours and days, we would look for a possibly important challenge of resistance at the $740 level.

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
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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…

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Altcoins

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

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Aluna.Social
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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,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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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…

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