FREE BITCOIN

Gamble as you want,

your wife will never find out!

First p2p bitcoin betting platform!

Guess Bitcoin’s trend and win!

Clever enough to guess

Bitcoin price?

XRP Ethereum Classic (ETC) Price Analysis: The Odd Couple - Global Coin Report
Connect with us

Blogs

XRP Ethereum Classic (ETC) Price Analysis: The Odd Couple

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

As we noted in our analysis yesterday, the technical context for XRP is now wildly different from that which characterizes Ethereum Classic (ETC). In a sense, these are divergent poles in the geography of the cryptocurrency asset class over the past 10 days.

The real question here, if we are to treat this as an asset class, is which of these charts is telling the truth. We will examine the technical information to see if we can answer that question here today.

XRP

Price Analysis

  • High: $0.37836
  • Low: $0.34072
  • 24-Hour Volume: $266.96M
  • 7-day Percent Change: -15.76%

Chart courtesy of tradingview.com

As should be clear by a simple glance at the chart, the technical picture for XRP has viciously deteriorated in recent days.

We had noted the staunch support found along the $0.43 level over the course of about a month, and the potential for that to play a make-or-break role in the evolution of this chart.

At this point, it is clear that the latter choice – “break” – is the one that has emerged to define the pattern right now for XRP.

It is important when doing this analysis that one leaves emotion completely out of the picture and concentrates on the technical facts at hand. In this case, the fact of a bearish descending triangle breakdown is the most salient one. The standard technical target for this pattern, now that the $0.38 level was sliced through like a hot knife cutting through butter, is defined by the range highs that serviced a bullish breakout back in mid-December of last year.

That level is between $0.28 and $0.30. However, this may be overshot on the downside, bringing into play the $0.20 level if the action continues to deteriorate.

That said, in all of this, it is important to remember one of the most critical insights for any successful trader: opportunities tend to ripen when there is blood on the chart.

Ethereum Classic (ETC)

Price Analysis

  • High: $17.2755
  • Low: $15.5863
  • 24-Hour Volume: $605.71M
  • 7-day Percent Change: 6.92%

Chart courtesy of tradingview.com

Ethereum Classic (ETC) represents a dramatically different picture. In the real question is: was this chart simply buoyed over the short term by a flow of headline catalysts, and is now ready to join the rest of the cryptocurrency complex in a new leg lower?

Frankly, we should get that answer relatively soon. If Ethereum Classic (ETC) is able to quickly break underneath its 50-day simple moving average at the $16.50 level, that will represent a bad sign. However, even if this is the case, we will still have an important support level just below at the $15.75 level, representing recent range lows formed through the middle of July.

It is also important to understand that a number of key oscillators registered severe overbought levels on the Ethereum Classic (ETC) chart, as we pointed out in our analysis yesterday.

The resistance that has formed on the chart above is now staunchly defined by the 200-day simple moving average in confluence with the psychologically important $20 level.

Happy Trading~

For the latest cryptocurrency news, join our Telegram!

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

Blogs

The Crypto Space Once Again Divided Over Bitcoin SV

Published

on

Bitcoin SV
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Blogs

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

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

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.…

Continue Reading

Blogs

Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite