Monthly Archives: July 2018

Ripple Price Analysis: XRP/USD Upsides Capped Near $0.4550

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Key Highlights

  • Ripple price declined further and broke a key support at $0.4500 against the US dollar.
  • Yesterday’s highlighted key contracting triangle was breached with support at $0.4530 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is currently under pressure and is facing resistances near the $0.4520 and $0.4550 levels.

Ripple price is in a negative zone against the US Dollar and Bitcoin. XRP/USD is likely to retest the $0.4300 support if sellers remain in action.

Ripple Price Decline

There was no upside move above $0.4560 in Ripple price against the US Dollar. The XRP/USD pair faced an increased selling pressure, resulting in a downside move below the $0.4500 support. The price declined sharply and settled below the $0.4500 support and the 100 hourly simple moving average. These are bearish signs and suggests more ranging moves with a bearish angle below $0.4600.

During the decline, yesterday’s highlighted key contracting triangle was breached with support at $0.4530 on the hourly chart of the XRP/USD pair. The pair even broke the $0.4400 support and traded as low as $0.4342. Later, it corrected higher and moved above the $0.4400 level. However, the upside move was capped by the 50% Fib retracement level of the last drop from the $0.4560 high to $0.4342 low. Moreover, there is a new connecting bearish trend line in place with resistance at $0.4460. Therefore, a proper break above $0.4460 is needed for a recovery.

Ripple Price Analysis XRP USD

Looking at the chart, the price is also likely to face a strong resistance near $0.4500 and the 100 hourly SMA. It also coincides with the 76.4% Fib retracement level of the last drop from the $0.4560 high to $0.4342 low. Overall, a close above $0.4500 and $0.4550 is needed for a decent recovery in XRP/USD.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is mostly placed in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is moving higher towards the 50 level.

Major Support Level – $0.4300

Major Resistance Level – $0.4550

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Ethereum Price Analysis: ETH/USD Bearish Below $468

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Key Highlights

  • ETH price struggled to move higher and declined below the $458 support against the US Dollar.
  • There are two bearish trend lines formed with resistance at $457 and $468 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is under bearish pressure and it could decline further below $445 in the near term.

Ethereum price is facing tough time against the US Dollar and bitcoin. ETH/USD is in a negative zone below the $464 and $468 resistance levels.

Ethereum Price Trend

There was an increase in selling pressure below $465 in ETH price against the US Dollar. The ETH/USD pair failed to hold gains and declined below the $460 support area. The decline was strong as the price traded towards the $445 level. It even settled below the $460 level and the 100 hourly simple moving average. A low was formed at $445.98 before the price recovered.

It moved above the 38.2% Fib retracement level of the last drop from the $471 high to $445 low. However, the upside move was capped by the previous support near $458-460. Moreover, the 50% Fib retracement level of the last drop from the $471 high to $445 low also prevented gains. At the moment, the price is under bearish pressure and is likely to decline towards $445. On the upside, there are two bearish trend lines formed with resistance at $457 and $468 on the hourly chart of ETH/USD. An intermediate resistance is near $464 and the 100 hourly SMA.

Ethereum Price Analysis ETH USD

Looking at the chart, the price is clearly trading in a bearish zone below $468. It may perhaps continue to decline towards the last swing low of $445. Below this, there are high chances of a sharp downside move towards the $430 level in the near term.

Hourly MACD – The MACD is slightly placed in the bullish zone.

Hourly RSI – The RSI is well below the 50 level with a bearish angle.

Major Support Level – $445

Major Resistance Level – $468

The post Ethereum Price Analysis: ETH/USD Bearish Below $468 appeared first on NewsBTC.

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Bitcoin Cash Price Analysis: Can BCH/USD Break Above 100 SMA?

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Key Points

  • Bitcoin cash price is slowly declining and is currently well below $830 against the US Dollar.
  • Yesterday’s highlighted important bearish trend line is intact with resistance near $825 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair must clear the $825-830 resistance and the 100 hourly simple moving average to gain pace.

Bitcoin cash price is currently bearish below $830 against the US Dollar. BCH/USD has to surpass the 100 hourly SMA to move into a bullish zone.

Bitcoin Cash Price Upside Hurdle

During the past three sessions, there was a steady decline from the $840 resistance in bitcoin cash price against the US Dollar. The BCH/USD pair settled below the $830 level and the 100 hourly simple moving average, which is a bearish sign. Recently, the pair even broke the $800 support and formed a new intraday low at $785. Later, it recovered and moved above the 38.2% Fib retracement level of the last drop from the $840 high to $785 low.

However, the upside move was capped by the $815 level and the 100 hourly SMA. Moreover, there was no proper break above the 50% Fib retracement level of the last drop from $840 to $785. It seems like the price is struggling to break the 100 hourly SMA, which is currently at $815. Above this, yesterday’s highlighted important bearish trend line is intact with resistance near $825 on the hourly chart of the BCH/USD pair. Therefore, a close above the 100 hourly SMA and $825 is needed for more gains in the near term.

Bitcoin Cash Price Analysis BCH USD

Looking at the chart, the price may perhaps move down if it fails to move above the $815 and $825 resistance levels. Supports are seen at $800 and $785.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is slightly placed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is placed near the 50 level.

Major Support Level – $800

Major Resistance Level – $825

The post Bitcoin Cash Price Analysis: Can BCH/USD Break Above 100 SMA? appeared first on NewsBTC.

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Stellar Lumens (XLMUSD) Price Watch: Major Correction Underway?

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Stellar Lumens Price Key Highlights

  • Stellar Lumens is currently retreating from its highs but may be waiting for more bullish pressure to kick in.
  • Price is currently testing the 38.2% Fibonacci retracement level, with the area of interest still a bit lower.
  • Technical indicators seem to be supporting a continuation of the bullish run.

Stellar Lumens is in correction mode and may find more bullish energy waiting right at the Fib retracement levels.

Technical Indicators Signals

The 100 SMA is safely above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This signals that the uptrend is more likely to resume than to reverse. The gap seems to be widening to signal strengthening bullish pressure also.

However, Stellar Lumens just broke below the 100 SMA dynamic support to indicate that a bit of bearish momentum is returning. In that case, a deeper pullback could be in the cards, possibly until the 61.8% Fib at the area of interest marked and the 200 SMA dynamic inflection point.

RSI is already dipping into oversold territory to suggest a return in bullish pressure soon. Stochastic is already making its way up to signal that buyers are regaining the upper hand while sellers take a break.

XLMUSD Chart from TradingView

Cryptocurrencies have been in correction or consolidation mode after the past few weeks of rallies as bulls pause to reevaluate their holdings and wait for more positive catalysts. In addition, the dollar has drawn some support on GDP expectations and positioning for the FOMC statement and NFP release this week.

Still, Stellar Lumens could be poised to gather some momentum as one of its partners, SatoshiPay, is set to enter the London Stock Exchange through an IPO. In their announcement, SatoshiPay noted:

“We are preparing to go public on AIM, the market for growth companies at the London Stock Exchange, later this year. We are also happy to announce that London based crypto-investor Daniel Masters is supplying us with €566k in pre-IPO funding. This will be a major boost for Stellar (XLM) visibility and adoption.”

The post Stellar Lumens (XLMUSD) Price Watch: Major Correction Underway? appeared first on NewsBTC.

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Bitcoin (BTC) Price Watch: Bullish Correction Needed?

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Bitcoin Price Key Highlights

  • Bitcoin price continues to tread sideways in tight consolidation, and bulls might need to gather more energy on a correction.
  • Applying the Fibonacci retracement tool shows the potential support zones where more buyers might be waiting.
  • The flag or pennant still seems intact even with the recent dip, so there’s still chance for consolidation.

Bitcoin price is still stuck in consolidation as bulls wait for more buying pressure or the next round of catalysts.

Technical Indicators Signals

The 100 SMA is still above the longer-term 200 SMA on this time frame, confirming that the path of least resistance is to the upside. This suggests that the uptrend is more likely to continue than to reverse.

In addition, the gap between the moving averages is widening to reflect stronger bullish pressure. The short-term simple moving average also recently held as dynamic support on the latest dip. Just when it appeared that sellers had pushed for a downside break, buyers rushed to defend support and propped bitcoin price back up.

RSI is slowly inching lower, however, reflecting a slow increase in bearish pressure. Stochastic was also on the move down but turned higher halfway through its journey to the oversold region. This suggests that buyers are still defending current levels and could have enough energy for a push higher.

BTCUSD Chart from TradingView

A break past the $8,500 level could be enough to confirm another leg higher, possibly spanning the same height as the flag mast or the earlier rally. On the other hand, a break below the short-term consolidation or spike down could lead to a larger pullback.

The 61.8% level is in line with the 200 SMA dynamic support and might be the line in the sand for this uptrend. The 50% level at $7,300 is closer to the channel bottom while the 38.2% retracement level is near the $7,600 handle.

The post Bitcoin (BTC) Price Watch: Bullish Correction Needed? appeared first on NewsBTC.

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Litecoin Price Analysis: Can LTC/USD Hold The $80 Support?

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Litecoin Price Analysis LTC USD

Litecoin price failed to recover and declined below $82.50 against the US Dollar. LTC/USD must stay above the $80.00 support to avoid further slides.

Key Talking Points

  • Litecoin price traded further lower and broke a key support at $82.50 (Data feed of Kraken) against the US Dollar.
  • There is a key connecting bearish trend line in place with resistance near $82.00 on the hourly chart of the LTC/USD pair.
  • The pair is facing a couple of crucial resistances like $82.00, $82.50, $84.50 and $85.00.

Litecoin Price Forecast

There was no upward move in litecoin price above the $85.00 resistance level against the US dollar. The LTC/USD pair slowly moved down and broke the $83.00 and $82.50 support levels.

Looking at the chart, the price declined and traded towards a crucial support at $80.00 and settled below the 100 hourly simple moving average. The price traded as low as $79.74 and later started an upward correction.

Litecoin Price Analysis LTC USD

It moved above the 38.2% Fib retracement level of the last decline from the $84.56 high to $79.74 low. However, the upside move was capped by the previous support at $82.50. Moreover, there is a key connecting bearish trend line in place with resistance near $82.00 on the hourly chart of the LTC/USD pair.

The trend line and the 50% Fib retracement level of the last decline from the $84.56 high to $79.74 low also acted as a key hurdle. The price is currently under pressure and is declining towards the $81.00 level.

On the downside, the $80.00 support zone is very important. A close below this could accelerate declines in litecoin towards the $75.00 level.

On the other hand, the price has to move above the trend line and the $82.50 resistance to start a recovery. The next resistance is at $83.50 and the 100 hourly SMA.

However, the most important resistance is near the $84.50 and $85.00 levels. As long as litecoin price is below these, it remains at a risk of more declines below $80.00.

The market data is provided by TradingView.

The post Litecoin Price Analysis: Can LTC/USD Hold The $80 Support? appeared first on Ethereum World News.

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Study: Only 5% Of U.K. Crypto Investors Turn A Profit

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Despite the seemingly endless supply of stories of investors making millions of dollars through cryptocurrencies, a recent report from a U.K.-based news source seems to tell a different story.

As per an article from Express U.K, IW Capital, a legacy markets investment house based in London, recently researched information highlighting the state of cryptocurrency investors in the Western European powerhouse. The data, which was divulged exclusively to Express U.K. reporters, paints a picture that doesn’t seem to be too positive for this nascent industry.

One-third of all of the survey’s respondents noted that they believe that the so-called “Bitcoin bubble” will burst very shortly. Another key figure which was found out in the report was that 38% of the 2,007 surveyed, likely part of the aforementioned group of naysayers, claim to not understand the slightest bit about cryptocurrencies, and the technology behind them. This figure brings up the issue of education, and how many experts note that widespread adoption cannot be achieved without education regarding crypto first.

As IW Capital alludes to, there is a large issue with the levels of knowledge seen in the industry. The report notes:

The data reveals that, fundamentally, Brits do not have enough information or knowledge on the topic of cryptocurrency. In fact, many have no knowledge about the subject whatsoever. Despite a widespread dearth of knowledge surrounding this particular asset class, disconcertingly, 1 in 20 Brits – nearly 3 million – have invested in cryptocurrency without fully understanding it, with only 5 percent having taken advice from a financial adviser when investing in cryptocurrencies.

The report later added that a wide majority of investors in the U.K. see cryptocurrency as an “inferior” investment, while directly comparing this new breed of assets to something like a stock or a government-issued bond. In accordance with the statistics given by IW Capital, only 7% of those involved in the survey see more value in cryptocurrencies in comparison with the investment opportunities offered in traditional markets. It is likely that this aversion towards crypto assets is the direct result of only a small portion of U.K.-based cryptocurrency investors turning a financial profit, just a measly 5% in fact.

However, it is important to note that over 2.5 million Brits have “casually invested” into this asset class, driving a figure that was likely higher before, straight into the ground.

While the 2,007 surveyed may not be fully representative of the entirety of the U.K. population, it is likely that the unfortunate pattern of losses and misunderstanding is prevalent all crypto investors in the country.

These Figures Are “Shocking, But Not Surprising” 

Luke Davis, the CEO of the firm conducting the survey, gave Express a statement regarding the statistics, noting:

It is shocking, but not surprising, to see so much confusion around the topic of cryptocurrency. I do not believe this is a reflection of UK investors’ risk profile, as a positive appetite for alternative finance remains, but to see that investments have been made without proper financial advice and a lack of facts and education is very concerning.

Although it wasn’t explicitly stated, this statement hints that the firm may be slightly anti-crypto, as many other legacy market firms can be. Whether this is due to the reason that they don’t understand this industry, or that they feel rising pressure from crypto assets on their traditional business structure, it is likely that IW may continue to push an agenda that isn’t kind to the cryptocurrency industry.

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Vitalik Buterin: ETFs Should Matter Less Than Global Adoption

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Vitalik Buterin, co-founder of Ethereum and one of the most influential personalities within the crypto-verse, commented that the ecosystem’s enthusiasm for cryptocurrency ETFs is not really what people should be focusing on right now.

Currently, the crypto markets are experiencing a bullish run that many fundamental analysts attribute to investors’ expectations for possible approval of crypto ETFs, specially in Bitcoin.

For the mastermind behind Ethereum, the focus should be on adoption rather than speculation:

He criticized the fact that the community is concentrating on aspects that are not important in the long run. From a fundamental point of view, his opinion is well-based. Further adoption would imply the need to acquire more tokens, thus increasing their price. So even from an economic point of view, adoption is attractive to speculators.

In fact, it was precisely the increasing adoption of cryptocurrencies what has raised the prices of Bitcoin and Ethereum to astronomical levels in less than a decade.

Vitalik Buterin’s words are an intense reflection of the crypto-currency reality nowadays, where one group sees cryptos as a substitute for fiat money and an essential mechanism for future economic transactions, while the other focuses merely on speculation.

Most exchanges have grown thanks to the increase in the number of crypto users, generally of those who are inclined towards speculation. This fact has always been attacked by Vitalik Buterin who has, directly and indirectly, made calls of conscience to the community on several occasions.

Are ETFs THAT Important?

Last week, after the revelation of the SEC’s decision to reject the proposal for a Bitcoin ETF presented by the Winklevoss twins, a drop in Bitcoin prices was triggered, slowing a momentum that was replicated by the rest of the cryptocurrencies.

Also, it is important to note that after the letter from SEC Comm. Hester Pierce rejecting the decision, prices stabilized, and confidence in the markets returned.

There is currently some expectation regarding this issue. Renowned investors have predicted that sooner or later the regulatory bodies will approve ETFs and other financial instruments based on crypto money.

Vitalik Buterin Believes More In Scalability And Less In Speculation

Vitalik Buterin has emphasized that he is working hard on making mass-adoption easier by addressing problems such as scalability or interoperability. Recently, on an interview with Tyler Cowen he said:

“Ethereum blockchain’s capacity right now is about 15 transactions a second. If you even consider something like putting all of the Uber rides on the blockchain, that’s 12 transactions per second already. I do feel just raw ability to process more transactions per second is important, and that could happen through sharding and other base layer scalability upgrades to the system which we are working on”.

Vitalik Buterin

Apparently Bitcoin and Ethereum have already bottomed out; however,  their high volatility has made it essential to be always on the lookout for the latest news. Not only is technical analysis relevant for investments, but in the crypto-verse, fundamental analysis is a tool that is becoming more and more necessary every day.

The post Vitalik Buterin: ETFs Should Matter Less Than Global Adoption appeared first on Ethereum World News.

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Happy Birthday Ethereum!

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On a day like today, July 30 of exactly 3 years ago, Ethereum (ETH) took its first steps as an independent blockchain.

The project was promising, and the community was very excited about the potential it could offer for the development of the whole ecosystem. Little did the enthusiasts know how vital Ethereum would become in the evolution of the entire crypto-verse.

In the official blog of the Ethereum Project, Stephan Tual commented on the excitement of the team and thanked the public for their confidence in the project, ensuring that the timeframes would be met as planned:

“A few minutes ago, many of you generated and loaded the Ethereum Genesis block, marking the inception of Frontier, the first Live release of the Ethereum project.

The Dev team joins me in thanking each and everyone of you for your support during the past year and a half. It’s incredible to see the progress that has taken place since that humble first commit on Christmas Eve 2013. The vision of a censorship-proof ‘world computer’ that anyone can program, paying exclusively for what they use and nothing more, is now a reality.”

The promotional video was quite attractive as well, promising to achieve through this new blockchain, many things that the Bitcoin network itself could not:

By then, it was difficult to conceive how far the cryptocurrencies and blockchain technologies would reach as a revolution not only in the industrial but also in the social sphere. At Bitcointalk, the responses, although mostly optimistic, generated all kinds of reactions.

Some were utterly pessimistic and skeptical. One example might be that of unusualfacts30, who, faced with the team’s impressive promises, only recommended caution as Ethereum seemed too good to be true:

“I don’t get it..looks like pnd to me. May be there is use of Ether for some people but price looks too high. Who is going to pay $5/Ether? or even $1?

I can’t find any info regarding the market value of ether. Biggest wallet has only 11,357 on trex and total supply is one million. What happens when people start transferring their coins to trex to dump…right now it’s at 15x above ICO price.

I c dump soon.”

Others like GaliX decided to trust the new blockchain. Ethereum had that “je ne sais quoi” that touched many:

“Well this is something different compared to all the shitcoins outhere….

There is something behind all this and not just a buy we will develop a lot in the future coin…”

And to be honest, it WAS better than what was imagined by those who said it was too good to be true.

Vitalik Buterin Describes Ethereum To The Average People and Why It's Important
Vitalik Buterin described himself as “Inventor of Ethereum, protocol developer and researcher”

From that day on, Ethereum began a never-ending evolution. Its” birth” marked a new beginning for the world of cryptos. A good number of the tokens that today are quoted in the global market cap run -or have run- on the Ethereum network. Major projects such as Tron, EOS, Golem, OMG, BNB among many others, would not be what they are without the Ethereum network.

Ethereum still has great achievements ahead. The development of technologies such as Casper and Sharding can mark another significant milestone in the development of cryptocurrencies. Beyond the economic merit, the real, social and technological value of Ethereum has proved to be almost incalculable.

For that reason, we are proud to say: Happy Birthday Ethereum!

Courtesy: FNaFgirl3896

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Tron (TRX) Price Analysis: Still Range-Bound Despite VM Launch

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Tron has been bouncing up and down between support at 0.0330 and resistance around 0.0410, with resistance holding on the latest test. Price is now halfway past its move lower, setting its sights on another test of the floor.

The 100 SMA is attempting to cross above the longer-term 200 SMA to reflect a pickup in buying pressure. However, this bullish crossover is yet to be completed, and failing to do so could mean another round of selling pressure.

RSI is still pointing down to signal that bears have control and could continue to push for more losses. Stronger selling pressure could even lead to a break of support and a downtrend that’s the same height as the range.

Stochastic, on the other hand, is already dipping into oversold territory to reflect exhaustion among sellers. If profit-taking ensues and buyers return, another test of resistance might be seen.

Tron released a few details on its “secret project” Atlas, which is connected to their recent acquisition of BitTorrent. Founder Justin Sun said that this is a system designed to strengthen the foundations of TRON and make the altcoin more efficient. He said:

“Currently we are exploring the possibility of using the Tron protocol to improve the BitTorrent protocol, in order to make the BitTorrent protocol faster… I hope the integration of Tron and BitTorrent will allow both parties to work better as one in the future.”

To do this, Tron will reward users who share files on the BitTorrent network in exchange for making the network stronger.

At this point, there is no incentive for peers who have completed downloading to continue to seed. We intend to extend the rewards to peers who seed torrents, infusing more resources into the current ecosystem.”

This is in line with their push to decentralize the internet, seeing Tron as a hub for digital content creators.

 

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