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Litecoin wide range trading might result in more gainsKey support Litecoin has formed a massive support near $50, a key physiological level. It has been rejected three consecutive times, with the most recent bounce occurred on the 31st of October. Then price has jumped up by nearly 20%, reaching the $57.3 high, where it rejected the 200 Moving Average. Correction Currently LTC/USD corrected down, to the recently established low on the $53.15. There LTC rejected the 161.8% Fibonacci retracement level applied to the corrective wave down after the breakout of the downtrend trendline. The $53.1 Fib support level is being rejected, which shows the dominance of the uptrend. Potential As the support holds, price will either consolidate or move to the new higher high. While there are several minor resistance levels, we’ll concentrate on the stronger levels. The key resistance is confirmed by the 61.8% Fibonacci retracement at $60 physiological level. This price can be very attractive for both, buyers and sellers. Because those who had bough LTC earlier might consider fixing profit, and those who plan to sell LTC could be waiting for that price with limit orders. The next resistance is at $65, that is 88.6% Fibs, while the final and key resistance is at the previous high - $67. Consolidation Since 14th of august, Lite coin has been consolidating between $50 support and $65 resistance levels. This is a very wide range which can be extended further. If this scenario will be true, the $65 level is yet to be reached. But at the same time, if LTC breaks below the $53.1 level, price can drop back down to the $50 area. Such drop will not confirm the downtrend, but will show a more bearish consolidation scenario. Summary Price is producing higher highs and higher lows, which is a sign of an uptrend. But the Moving Average was rejected which is a bearish sign. It seems that consolidation in ongoing on both, short and long term. Unless $53.1 support will be broken, buyers are likely to dominate in coming days. Considering our previous idea on LTC/BTC, it shows that level of resistance became the support, where all attention might be concentrated.
POLONIEX:LTCUSD
by CryptalDash
Factors affecting Stellar (XLM/USD) priceThe news There are many interesting news surrounding the Stellar, that in combination, should affect the price. It is just the matter of interpretation, and understanding the market reaction to all that is happening. Let's get into it and see what is really going on. 1. Recently, Coinbase has accounted the listing of several coins. Which are ADA, BAT, ZEC, 0X and Stellar. 2. Stellar Development Foundation is getting ready for the biggest airdrop in the history of cryptocurrency. The amount to be released for the airdrop is simply huge to say the least, in total $125 will be given away. It emphasizes marketing intentions of Stellar, which are likely to show positive result by the end of this or beginning of next year. 3. On the 28 September 2018, Stellar has launched the zero-fee cryptocurrency exchange StellarX, which was announced by StellarX co-founder Christian in his Medium post. We talked about these news here: () Market reaction Analyzing above mentioned news, they all are very positive in nature, although market takes time to digest and really understand as to what is happening behind the scenes. Nonetheless, Stellar already showing a steady rise since the beginning of the month. Market reaction is clearly positive, but the question is whether this tendency will continue? Resistance holding Technically, price has been trading within the triangle pattern. Although, in November, XLM/USD has increased by 33%, it failed to break above the $0.29 resistance. It's the level that many investors are watching right now as it could be the trigger for the upside breakout. Why this level is so important? - Not only this is where downtrend trendline has been rejected, less than a month ago, Stellar already bounced off the very same level (38.2% Fibonacci). And finally, the RSI is in overbought condition, trading within the triangle pattern and rejecting the downtrend trendline. Ongoing consolidation All-in-all, there is not enough bull strength at the moment to break higher, and XSM remains in a consolidation phase. While the resistance is holding, range trading between $0.29 resistance and $0.22 support will continue. Breakout probability However, considering all the positive news around Stellar lately, the probability of the upside breakout remains higher. The $0.3 psychological resistance could be the number to watch this month. Break above could invite buyers and/or trigger the buy limit orders, thus pumping the price as high as $0.4 - next key physiological resistance. Downside risk remains On a downside, range trading is still ongoing. As long as resistance is holding, it is reasonable to expect price drop, either to the 200 Moving Average or down to the $0.24 or even $0.2 psychological support (88.6% Fibs). Important levels to watch Support: $0.238, $0.227, $0.207, $0.194, $0.174 Resistance: $0.289, $0.318, $0.353, $0.400
BITTREX:XLMUSD
by CryptalDash
1
Cardano (ADA) will become the base currency on IronX exchangeEmurgo and Cardano formed a partnership with IronFX - forex exchange platform. The reason for this partnership is to crowdsource raise $22.3 Million in a private sale, to build a new exchange by the end of 2018 - IronX. Emurgo is a parent organization of Cardano, that has announced its’ plans to use ADA token as a base cryptocurrency in the IronX exchange. a new exchange. twitter.com “IronX is a fully regulated and supported exchange for crypto investors, online traders and ICOs. Created by global leaders in online trading the IronFX Group and Emerge HK, creators of Cardano and ADA Coin, IronX represents a new era in online trading.” The vision of IronX is to build a crypto exchange that is created with the traditional trader in mind. This is why they are trying to merge the best in traditional trading from IronFX, with the best in crypto Emurgo HK, to create a world-class crypto exchange. Traders coming from a traditional stock and forex markets, might find it difficult to adopt the way cryptocurrency exchanges operate. Thus it can be more user-friendly for veteran traders to move onto the crypto trading. Considering the fact that IronFX is a well known and regulated forex brokerage firm, with huge client base, it becomes quite obvious about the IronX exchange potential. IronX will be using ADA coin as the base currency, which should substantially increase usage and trade volume of the coin in the long term. The announcement was made yesterday, October 31, when ADA has reached the $0.071 low. There it has rejected 78.6% Fibonacci retracement level along with the lower trend line of the descending channel. Also, RSI oscillator formed a bullish divergence and then broke above the downtrend trend line, signaling on the potential trend reversal. Indeed, ADA/USD might finally reverse to the upside. But there is one obstacle that it has to overcome. It is the $0.071 resistance level, where channel trendiness are crossing, confirmed by 61.8% Fibonacci retracement level. Upon the breakout, upside momentum should increase, resulting in more ADA gains. Price could reach the key resistance at 61.8% Fibs level, that is $0.081 price, where previously ADA/USD rejected the 200 Moving Average. However, as long as Cardano remains below the $0.067 support, downtrend will remain valid. And if it breaks lower, ADA/USD can be expected to drop down to either $0.067 or $0.064 support level. Of course the price is very attractive for Cardano investors. In fact, for some it might seem like a perfect buying opportunity. But while the risk/reward ratio is great, it could be safer to consider investing after the resistance is broken.
BINANCE:ADAUSD
by CryptalDash
Litecoin (LTC) Core 0.17 will make it x10 cheaperFollowing our previous idea on Litecoin, where Blockstream announced about the LTC potentially joining the Liquid network, now there are even more good news. Litecoin client release is on its’ way, which was announced on the official Medium blog page of the Litecoin Foundation. LTC Core 0.17 will introduce a faster and cheaper Litecoin, with a very low transaction costs, which can be compared of that in 2015. Below is the quote of the official announcement: "The average transaction fee as it stands on the network is L0.001 per KB or ~$0.05. With the announced changes that will soon become L0.0001 per KB or ~ $0.005, half a cent and back at 2015 levels." This is huge for the Litecoin, because transaction costs will be literally reduced by x10. It’s actually almost inline with the recent Monero announcement, where they recently reduced the transaction cost by 97%. The reaction to the news announcement was taken very positively by the market. You may ask how come?; LTC hasn’t gained much, in fact, its moving very slowly! But let’s take a closer look at the price development. According to our previous idea on LTC/BTC, Litecoin has reached the support level at 427.2% Fibonacci retracement level, rejected it and started to move north. By looking at the chart, it is clear that LTC/BTC has produced a double bottom near the etc 0.007 area. After the price bounce, it reached the and broke move the 23.6% fibonacci resistance, which currently acting as the support. The RSI oscillator trigged a buy signal while breaking above the downtrend trendline. So far price action is being very positive, while showing the potential for more growth. As long as Litecoin remains above the 0.00795 support, bullish momentum should be increasing. At some point price will reach the 0.008 resistance area, and if broken, next stop will be near btc 0.009. But in any case, investors will be paying attention to the etc 0.0076 support, where double bottom has been formed. If support will be taken out, LTC can drop down to 0.0073 area. Nevertheless, the timing for buying LTC could be just about right for some investors. And combined with a relatively cheap price, large buyers might start getting involved in LTC trading. As the downtrend is dominated, the risk will remain very high, although the rewards could be much higher. Please do not consider this article as a call to buy LTC, but look at it as a map, which may help you to trade Litecoin more effectively.
by CryptalDash
Bitcoin gained 215,000,000% by the 10 year anniversary.Recently Bitcoin has celebrated its’ 10 year anniversary. On the 31st of October 2008, a person, or a group of people under the name of Satoshi Nakamoto published a “Bitcoin P2P e-cash paper”, which can be found on bitcoin.org It was introduce at a very specific and perhaps a perfectly right time. Back in 2008 world was going through a financial crisis, demanding an alternative to the USD. And here you go, Bitcoin appeared out of nowhere. Whether it was created by a single person or a group of people, it seems that this was a carefully calculated event. On the 17 Mar 2010, the now-defunct BitcoinMarket.com exchange is the first one that starts operating. At a time it was priced at $0.003 for 1 Bitcoin. Currently BTC/USD rate stands at $6450, and that is a 215,000,000% growth! Clearly, Bitcoin has its use, and perhaps not so much as just being the first cryptocurrency, but maybe the best candidate for being the alternative to the world currency - the US Dollar. After a short “Happy anniversary Bitcoin” intro, time to move on the the current price action, which might show us upcoming price action scenarios. According to our previous idea, yesterday BTC/USD has rejected our projected resistance area near $6500. At the very same time the downtrend trend line, along with the 200 Moving Average, also were rejected. This makes $6500 - $6530 a very strong resistance. As price has bounced off it, there won’t be too many buyers, which are most likely are waiting for the break above. But when/if it breaks higher, it could trigger a massive wave buyers stepping in, pushing price up. Nearest resistant area is seen between $6840 and $6900, which if overtaken, can trigger even higher demand for BTC. Nevertheless, the resistance is being respected, which means that buying orders, sitting above the $6530, haven’t been triggered yet. Therefore, at this stage BTC/USD will most likely continue the range trading, between $6300 support and $6500 resistance. Break below $5300 can be a bearish signal for the BTC, and the risk of the price drop, down to $6100-6200, will become very high. Perhaps it is worth to wait and see, as Bitcoin approaches the potential decision making point, which is the nearest Fibonacci price cycle. It starts on the November 8, and maybe then the breakout occurs. Most likely, investors are waiting for strong move in price, accompanied by a heavy trade volume, and it could happen in just 3 days from now. In 10 years Bitcoin price has increased by 2,150,000 times, and it is extremely interesting to follow the direction of BTC in the next 10 years. The technology introduced by the Bitcoin is simply amazing. Considering that one day BTC might become a global currency, hard to imagine how far up it can clime.
BITFINEX:BTCUSD
by CryptalDash
Monero transaction cost went down by 97%After the recent Monero upgrade, mentioned in our previous idea, XMR transaction cost went down by 97% That is extremely positive news for Monero, which by now, should have already been digested by the market. But at the same time, Bitcoin downtrend could have affected the price of Monero, holding it back from the potential growth. Maybe, after BTC price will find the support, stabilizes or reverse to the upside, XMR will enjoy a fast and strong recovery. Investors should pay attention to the current price of Monero as it sits right on the support, failing to break below. Currently XMR is trading near very important physiological support, that is $100. Not only it's a round number, but also a Fibonacci level - 61.8% and $88.6%. It makes it a very strong level, that will not be left without massive attention. Investors are likely to watch the low produced on the October 12, which is $99.55. Daily break and close below, will substantially increase the risk of further downtrend. In that case, price can reach next support at $90. On the upside, if support will continue to be respected by the market, Monero should reverse to the upside, or at least continue the consolidation. Strong resistance is located at $115 area, which is 61.8% Fib resistance level, that goes along with the high trade volume price. Break above $115 should invite more buyers and price can reach the $125 resistance. All in all, Monero remains a very attractive coin, especially considering the fact that price remains above the $100 mark. Nevertheless, there was no confirmation of the uptrend, thus making it a risky short-term investment.
POLONIEX:XMRUSD
by CryptalDash
Civic (CVC/BTC) breakout - price might explode!Civic has formed a double bottom on September 12, when price touched the bottom at bcc 0.00001581. Then, slowly but steadily CVC started to outperform the Bitcoin, while still trading within the descending channel. But today, finally, it broke above the channel, signaling on a potential trend reversal. Today alone, CVC gained over 11%, and currently trading near 2400 satoshis area. While the trend could be turning bullish, yet Civic has to break above the midline of the descending channel, which currently acting as the resistance. While the trend line is holding, downside correction can be expected, and even the downtrend continuation. Price can go further down, as low as 1000 satoshis physiological support level. However, on the upside, if the trend line resistance will be penetrated, Civic is likely to show strong gains in the near term future. It could reach one of the Fibonacci resistance levels, first being at 3800 level, and second 5800. Currently, trade volume remains very low, which might suggest that Civic will either consolidate or even go to the new all-time low. Therefore, waiting for the strong increase in volume, along with the break above the trend line can be the way to go when trading CVC/BTC.
by CryptalDash
Dash integration with Uphold might not safe it from freefallDash is a privacy-based coin, which is one of the top 15 cryptocurrencies based on the market capitalization. Last week - on October 23, 2018 - during Money 20/20 conference held in Las Vegas, Dash (Digital Cash) has announced the integration into the Uphold. Press-release: www.dashforcenews.com Uphold is a leading digital money platform that is providing financial services. Members of the platform can perform instant transactions between each other completely free of charge. Now, after Dash integration, Uphold users can buy and sell Dash with a credit card or a bank transfer, directly through the Dash wallet wallet. This shows that Dash aims to increase the usability and popularity of the coin, by making it more accessible for an average person. Some could make a conclusion, that more users equals higher price. This could be true in most case, however there are some points worth looking at. Dash is a privacy-based coin, and governments don’t particularly support “hidden transaction”. Private transactions mean that payments can be maid for goods and services, while Government will have absolutely no record of them and therefore no taxes will be collected. At this stage of the cryptocurrency adoption, it seems that legalization and government support is extremely beneficial for any coin. To the contrary, isn’t cryptocurrency meant to be private in the first place? On the other hand, there always will be those, that wish to stay in the dark, however, this don’t seem to be at the same scale as if government would support it. Certainly there is a use-case, but the question remains; how big? Getting to the price action, after the Uphold integration announcement, Dash has gained 5.7% the same day. Price went up from $154 to $163 were it bounced off the 23.6% Fibonacci retracement level, along the mid trend line of the descending channel. Market reaction to the news wasn’t very positive to say the least. After the bounce price went down and rejected the 78.6% Fibonacci support. The rejection was very clean, disregarding the fact that afterwards there was spike below that level - $150. This is also a round physiological price, that together with Fib level makes it a very strong support level. DASH/USD bounced off resistance as well as support, indicating on the range trading, in other words consolidation and/or accumulation phase. It might be a short or mid-term consolidation, but market will be expecting a breakout in anyway. Currently, short-term downtrend has high probability of continuation as Dash remains below the 200 moving average and rejected the midline of the channel along with Fib resistance. If it breaks and closes below the recent low at $147, next support at $140 is likely to be tested. Break below the $140 level, might push buyers to liquidate their coins, resulting in a stronger drop in price. Then price can be expected to test a $100 support, which seems to be the key level in the long run. Now lets consider the scenario where uptrend will dominate. First of all, Dash must break above the $163 resistance level, which might be the first signal of bullish momentum. Next upside target is located at $$188, that is 61.8% Fibs, where highest trade volume has been recorded recently. Overall, there is no clear short term trend and price can be expected to consolidate. Waiting for price breakout and looking for extra confirmations could be the way to go with Dash.
POLONIEX:DASHUSD
by CryptalDash
2
Ethereum could have bottomed out. Will BTC now take the beating?Back from the May 21, Ethereum has been taking a beating from Bitcoin. ETH price has been struggling big time. Since then, during the next 4 months Ethereum lost to Bitcoin 69% and bottomed out on the September 12. By observing the bottom of the current downtrend, that is BTC 0.0268, Ethereum cleanly rejected the 927.2% Fibonacci retracement level. What is more interesting. The lower trendline of the extended descending channel was rejected right at the same time. Such a «coincidence» could be interpreted by some as the very bottom of the downtrend. Yet, others might wait for higher trade volume along with the resistance breakout. ETH/BTC continues to print lower lows and lower highs, thus validating the downtrend. But at the same time it found the support at BTC 0.030; not only it is a physiological level, but also a Fibonacci retracement support. Currently, following the price action high be the way to go, as many altcoins, along with Ethereum, are at very low historical levels. As the crypto market is growing rapidly, the new wave of investors could be attracted by the «bargain» price. All-in-all, while there is a good chance that Ethereum has finally fond the bottom, it is important to stay causes and the downtrend hasn’t been invalidated. Break above the BTC 0.034 might be the firs bull sign for ETH. Also, perhaps it is worth following the RSI for the break above the descending channel, or for a complete opposite scenario. The trade volume is very low, and soon market could show a substantial increase in trade activity. Maybe that will be the time to take action?
by CryptalDash
Tron aims to dominate blockchain gamingGaming remains a multi-billion industry which is step by step moving onto the blockchain. This is a very slow process although it has begun. More and more games are being built on the blockchain and/or starting to adopt the technology in some way. Tron is one of the coins that is heavily involved in Gaming which is moving at a very high pace in that direction. With such a deep involvement, it could be one of the top gaming coins, staying on the top of all the competitors. TRX has very strong technical capabilities, which might or should attract developers for building complex online games utilizing all the benefits of the decentralized environment. Recently, Tron has launched its’ first game called Magic Academy, where players can interact with each other, allowing to buy, sell and trade their games. While this was a massive step by Tron, the TRX team didn't’ stop there. Now they are planning to release the second game called “Coin War”. This is a new cryptocurrency entertainment prediction scenario. It created by FCC team based on the financial prediction scenario. Coin War is set to be utilized for prediction in price changes of the most popular cryptocurrencies, along with the trend forecasting of the stock market indexes. Since the beginning of the month, when TRX laughed their first game, price has been rising from BTC 0.022 area, up to the BTC 0.027 resistance. Currently TRX/BTC stands at the same price as it was at the beginning of October. Its not much of a progress for the Tron, but there is a positive aspect of such price activity. First of all, it broke the triangle pattern, establishing higher highs and higher lows pattern, thus suggesting the validity of an uptrend. Second, price remains above the BTC 0.022 support area, which in fact, has been rejected cleanly today. TRX/BTC has reached precisely 88.6% Fibonacci retracement, hitting BTC 0.0215 low, producing spike and bouncing off. Another fact worth paying attention to, is that under the heavy trade volume TRX failed to break below the support, and actually did the opposite. While price remains above the support, some may interpret it as the the bottom of the current corrective wave down. Yes, its a risky assumption, but its a game of the risk and reward, but upside potential is there. First resistance is seen at BTC 0.023, second at 0.026 and third at 0.027. With the probability of the uptrend continuation, further price decline should also be considered probable. RSI oscillator broke below the uptrend trendline, that can provoke a selloff, resulting in the price drop down to BTC 0.019 or even 0.015. But this scenario will gain power only if the current support is broken, with the daily break and close below BTC 0.0215. To summarize, fundamentally, Tron seem to have very strong future, although there is a lot to prove in the future. As the support is holding, uptrend will continue. But break below it, can result in a lost confidence by investors and rapid drop in price.
BINANCE:TRXUSD
by CryptalDash
2
EOS selloff might be ending as price approaching the demand zoneYesterday EOS has been trading near $5.4, where it formed the support. But today it has experienced a fast decline, and throughout the day lost over 7%. EOS/USD reached $5.05 low today and after small retracement is trading at $5.15. It seems that after the fast price drop, there won’t be a fast recovery, especially after price broke below the descending channel. Usually it takes time for price to confirm the bottom, consolidate and only then establish reverse. As trend is bearish, the probability that price will drop even further remains high. At this stage it is very risky to go against the trend and start buying EOS. The nearest support is seen at $5.00. This is a very strong physiological support, confirmed by the 78.6% Fibonacci retracement level. If that support is broken, EOS/USD might drop down to 88.6% Fibs at $4.84. Therefore, another 3% or 6% decline can be expected in the near future. Technically, price is trending down, although unexpected trend reversal might also take place. While the nearest resistance area is between $5.04 - $5.46, EOS must break above $ 5.5 with confidence. Such price action would indicate bullish intentions of the EOS, which obviously could trigger accumulation of buy orders. In short, trend is bearish and is expected to go down more. Only break above the resistance might indicate otherwise.
BITFINEX:EOSUSD
by CryptalDash
2
EOS expected to breakout soon, pay attention!The EOS mainnet, launched in June of 2018, that is able to handle around 1200 transactions per second with very low latency. This is the kind of performance needed for the required by banking grade software. EOS is trying to become a completely decentralized operating system, where large and corporate applications can be hosted. Main targets for the EOS are: 1. Smart contracts 2. Decentralized storage 3. dApps environment The main difference from other cryptocurrencies, is that EOS uses delighted proof of stake as a consensus mechanism that aims to be highly scalable. EOS certainly solves the scalability issue which Ethereum currently faces. This could be very attractive option of developers, but yet EOS has to prove a lot. Current price action clearly says that there is no demand for the EOS coin as it continues to trade within the triangle pattern. However, rather sooner than later the breakout will occur, and the question is; In what direction? As it usually happens when everyone is expecting the price to break to the upside, it goes a completely opposite way. Perhaps such scenario will be repeated again. First of all, there is a strong support formed near 80k satoshis, where EOS could be heading right now. Such prediction is based on the RSI oscillator moving pithing the descending channel and currently is near the upper trend line. There could be another wave down, that will result in a price drop towards either 78k or 72k satoshis area. If 78k support level will hold, the trend might start turning bullish, although to confirm this, 95k satoshis resistance level must be broken. When/if the support is penetrated, EOS/BTC should start trending upwards, where it’ll meet one of the Fibonacci resistance levels, with a final target at 160k. On the downside, if 69k level will be broken, with a confirmed daily break and close below, bullish scenario shall be invalidated and long term downturn will most likely continue. In short, price is consolidating, while moving within the triangle pattern. The breakout will occur shortly, but perhaps it should not call for action, but rather than a careful study of the price action. Support: 0.0007890 2. 0.0006900 Resistance: 0.0009550 0.0011390 0.0013330 0.0016120
by CryptalDash
EOS potential uptrend after rejecting the supportOn the 29th of April, EOS/BTC has reached an all-time high, hitting btc 0.00244. Since then price has been declining consistently, and on 22 August found bottom. After EOS has bounce off the support, the total loss to the Bitcoin was nearly 75%. The support at btc 0.000620 was confirmed by the 38.2% Fibonacci retracement level, applied to the uptrend trenldine breakout point. The support has been rejected cleanly; in fact, price has not stayed there for long, but produced a short-lived spike down and immediately went up. However on the corrective wave up, downtrend trendline has been rejected, along with the 23.6% Fibonacci resistance level. This brings up the conclusion that currently EOS is consolidating between the support and resistance levels, while struggling to establish a clear long-term direction. Break above the btc 0.001 psychological resistance and the 200 Moving Average should result in more growth, and price could move up towards the btc 0.0013 or btc 0.0015 resistance levels. But currently, as the resistance is still holding, the risk of the further decline remains. EOS coin price still might fall down towards the key support area, that is between btc 0.00062 and 0.00052. Break below that support area will most likely send price even lower, down to the btc 0.00022 support. First sign of the downtrend could be the RSI uptrend trendline breakout. First sign of the uptrend could be the break above the btc 0.001 resistance. Support: 1. 0.00062 2. 0.00052 3. 0.00022 Resistance: 1. 0.00095 2. 0.00100 3. 0.00132 4. 0.00148
by CryptalDash
5
Market simply ignores Ripple’s rapidly growing adoptionOver the past few months Ripple has enjoyed a series of positive news. Most of them were around the XRapid, that is faster and cheaper payment solution. With xRapid, money can be transferred between banks almost instantly, with XRP cryptocurrency being intermediary. Funds can be transferred with the local currency and then exchanged to the XRP, that is before sending them to any country though Ripple blockchain. Then funds are exchanged to the local currency. This type of money transfer would be at least 70% cheaper than a regular bank transfer and would be executed almost instantly. This could make Ripple the most used currency for transfers between banks, therefore resulting in XRP mass adoption and increase in price over short to medium term. The most recent news announced on the October 4, is that Japanese Bank Consortium launched an app that uses Ripple for instant domestic bank transfers. This is another great news for XRP, which is likely to attract millions of users worldwide. And finally, Singapore-based Paycent has made an announcement that they will add XRP, making their uses able to withdraw fiat currency from the ATMs in the beginning of November. Truly, a very positive fundamental news, but it seems that market is simply disregarding them completely. After Ripple has topped out on the September 21, investors started to dump the XRP coin. Today it is traded at $0.46 that is 40% cheaper than one month ago. Currently the downtrend still seems to be valid as price produces lower lows and lower highs. Nevertheless, the support was found at $0.38, which is 50% Fibonacci retracement. After the bounce price went up, and bounced off the 61.8% Fibs at $0.53. At this time, XRP/USD is trading near the 200 Moving average, which is being rejected so far. This could result in the short-term growth. Although for the price to establish an uptrend, $0.53 resistance area must be broken. As the trend is bearish, the probability of a price decline remains very high. If $0.43 support will be broken, XRP should go down to next support at $0.38. Break below $0.38, might send Ripple much lower, potentially towards the 13 August low; $0.24 support area. In a nutshell, short term is down and Ripple might lose another 50% to the USD. However, investors might get attracted if $0.53 resistance area is broken. In this case trend should become bullish, sending price to the next resistance at $0.7. Support: 1. 0.43 2. 0.38 3. 0.24 Resistance: 1. 0.53 2. 0.70
POLONIEX:XRPUSD
by CryptalDash
5
Cardano will supported by Trezor hardware wallet.Cardano accumulation is coming to an end Several days ago, on the October 23, Charles Hoskinson ( Input Output hong Kong co-founder) twitter an announcement. It the twit he stated that by the end of the month Cardano will be supported on Trezor hardware wallet. The steps that Cardano is making towards the funds security seems very reasonable. This way ADA holders can get more sense of security for the invested capital, thus inviting large investors into play. The interesting fact is, that on Tuesday, when the announcement was made, Cardano has tested $0.074 low. This is the 61.8% Fibonacci retracement level that has been rejected cleanly. Throughout this week price has been ranging between $0.077 and 0.074 support level, which was rejected 3 times already! Currently, price is trapped in the triangle pattern, failing to break either above the downtrend trend line and below the uptrend trendline. The RSI oscillator is trading within the descending channel, and the break above might be the first bullish signal for ADA/USD. Second confirmation to look for is the break and close above the $0.0775, which might push price up to the «high volume» resistance at $0.0835 and potentially to $0.1 physiological resistance confirmed by 127.2% Fibs. Considering the fact that the RSI is trending down and that ADA stays below the 200 Moving Average, the probability of the ADA dropping more down remains high. Break and close below the current support area, might seem like invitation to sell ADA at least for the short term. Buyers should be looking at the $0.067 and $0.060 levels, which might seem a lot more attractive comparing to the current price. The battle between bulls and bears is obvious, and who will be the winner is yet to be decided by the market. The Cardano accumulation might have come to an end, and it just a matter of time before it breaks out.
BINANCE:ADAUSD
by CryptalDash
Retail investors are controlling the Bitcoin. Whales are waitingA trusted cryptocurrency news source in China - CnLedger, has reported that merchants can now legally accept cryptocurrency as a method of payment. This seems to be huge news for Bitcoin and cryptocurrency space is general. Just imagine the price of BTC if China will move from fiat currency to cryptocurrency? At the same time perhaps question is not “if” china will be moving towards cryptocurrency adoption, but “when”? Of course it is a long term perspective and this could be the reason why market hasn’t reacted positively yet. Mass adoption along with the the list of use cases for cryptocurrency is at the very early stage. It seems now the trade physiology could play its’ role. Attention of traders seems to be concentrated on the round numbers, where masses are reacting the most. This could be because the trade volume is extremely low, and retail investors are driving the price, rather than Wales, that currently are just waiting or the right moment. Based on our previous analysis on BTC/USD: , price has reached and broke below the support level at $6464. It shows the potential for the short term weakness of the BTC price. At this stage Bitcoin is likely to fall down even further, and round psychological numbers are of interest for the retail investors. Current resistance is at $6500, which today was rejected. BTC is expected to drop towards the next round price. It could be $6400, $6300 or $6200 - the key level that previously has been acting as a strong support. Although it is not necessary that BTC will fall down, as break and close above the $6513 could be the bullish signal, that might invalidate further drop in price. In a nutshell; 1. The $6500 resistance rejected. 2. Downtrend trendline rejected. 3. RSI oscillator moving within the descending channel. 4. New Fibonacci cycle just started. 5. Price continues to produce lower lows and lower highs. This price action clearly indicates the presence of the bearish dominance. As long as price remains below $6500 area, trend will remain down. However, big money might come by surprise, and $6513 resistance could be taken out instantly.
BITFINEX:BTCUSD
by CryptalDash
4
Bakkt might launch physically-delivered Bitcoin futuresAccording to anonymous source, next week Bakkt could get approval to launch its physically-delivered Bitcoin futures product from U.S. Bakkt is an Intercontinental Exchange platform, seeking to create a “regulated ecosystem” for institutional investors. If regulators will approve the project, Bakkt will start launching Bitcoin (USD) daily futures contract for clients. However, going back to December 2017, non-physical Bitcoin futures were launched from CBOE and CME Group. We all know the result; high volatility combined with a very poor performance. Currently it is only can be speculated on the Bitcoin price action that might take place next week. But even though it's only a prediction, the Bitcoin short term future looks bright from the technical point of view. Today BTC/USD has spiked down, hitting the daily low at $6462. There are few important points that are worth paying attention to: Price rejected the 88.6% Fibonacci retracement level Even upon the heavy trade volume BTC failed to close below the descending channel RSI oscillator broke above the downtrend trend line After hitting today’s low, BTC/USD already recovered by 1.55% and currently trading near $6570. Throughout this week, BTC traded around the $6570 area. But today after establishing the low, this became a strong Fibonacci resistance level. At this point trend doesn’t look to be bearish, as the support was rejected. But at the same time it remains below the resistance, which does not suggest a bullish scenario. If BTC to go higher, the $6570 resistance must be broken. The next upside resistance is located at $6630 area, which is also confirmed by two Fibonacci retracement levels. The final resistance is at 61.8% Fibs that is at $6730, and it seems that only upon the break above that price, BTC/USD could start establishing a medium-term uptrend. As of yet, it is a downtrend and BTC certainly remains under selling pressure.But, watching the nearest resistance level should help to understand the short-term bitcoin direction. Support: $6464 Resistance: $6570 $6630 6730
BITFINEX:BTCUSD
by CryptalDash
2
Power Ledger’s AGE token- Renewable Energy Investing RevolutionYesterday, Power Ledger has introduced Asset Germination Events via Twitter: twitter.com Asset Germination Events is a Power Ledger’s token (AGE), which aims to offer a way for anyone to invest in renewable energy generation. Currently, someone with less than USD 2,500,000 can’t get his own wind farm or a solar farm. This makes an average, or in other words retail investor, unable to participate in high-value assets investment. But what are the benefits for the POWR token holders? According to the Power Ledger’s announcement, POWR token will be a priority access mechanism for AGEs, while offering a discount during AGEs. Additionally, Power Ledger should be using the management fees for administering an asset portfolio, to fund POWR buyback and burn program. While the energy market is always of high demand, POWR token holders in the future might enjoy the benefit of participating in the alternative energy investment, previously unavailable to the average person. Power Ledger is planning to pursue this goal while being fully regulated in Australia. It is not a short or an easy task, but if they will manage to succeed in Australia, perhaps they can do the same worldwide. It's time to look at the market reaction after such an ambitions announcement… POWR bottomed out on the September 12, along with most alt coins. Price has reached $0.12 low, and on the September 22 reached $0.22 high, resulting in a 85% growth. Although it failed to break above the descending channel and also rejected the 23.6% Fibonacci retracement level at $0.2. Up until now, POWR/USD continues to trade below the resistance. Today its trading at the 200 Moving Average, that clearly representing the support. Since yesterdays’ announcement, no drastic actions were taken by investors. Such a calm reaction is not necessary a bad thing, since the MA support is being respected. If POWR manages to stay above and break the $0.2 resistance, further price increase can be expected. Next resistance level is seen at 50% Fibs, that is $0.28. If broken, price should rise further, towards the 78.6% Fibs at $0.37 area. In any case, while POWR remains below the resistance, trend is considered to be bearish. Break below the Moving Average might lead to the price drop towards the $0.16, $0.14 or even the new lower low at $0.09. Certainly an interesting time for the Power Ledger…
BINANCE:POWRUSD
by CryptalDash
ZCoin released "fair" Proof-of-Work algorithmToday ZCoin announced the release of Merkle Tree Proof, a new Proof-of-Work algorithm which will be activated on the December 10. This POW is designed to fight against cryptocurrency mining centralization like ASIC farms. The aim is to level the playing field between people with huge amount of computing power (such as mining farms) and those with little power. This, obviously, might help ZCoin to get less centralized increasing the demand and popularity of the coin, resulting in the increase in price. Currently ZCash is trading near btc 0.0015 support, where it is forming a double bottom. Yet the double bottom pattern hasn’t been confirmed as the break below is still possible. However, the RSI oscillator shows bullish divergence, suggesting a potential upside move. If price will remain above the 0.0015 support, ZCoin is likely to move upwards and should be reaching 61.8% Fibonacci. This is btc 0.0038 resistance level, and if XZC will rise that high, the result will be a 160% gain over the Bitcoin. However, break below the support could have a negative affect on the XZC/BTC, obviously making it much riskier investment. All-in-all, fundamental news are positive and ZCoin might be the coin of interest in the coming days/weeks.
X
by CryptalDash
Monero (XMR) major upgrade makes it officially “Bulletproof”Following past months of development, Monero was preparing for a major upgrade, which yesterday was successfully activated. So what is the upgrade all about? On the 18 October, Monero has implemented a Bulletproffs protocol, which is an advanced technology that makes any blockchain more efficient, cheaper, faster and more scalable. This method for sending private transactions, is considered to be the most effective, which can have a massive effect on Monero, now and in the long term future. It is time to look at the price action since the Bulletproffs protocol has been integrated … Clearly, market hasn’t reacted yet, as during the past few days it continues to trade near the 61.8% Fibonacci support level at btc 0.0015756. However, what should be noted, is that this level has been tested a number of times, and each time price rejected it. The important thing is that after upgrade, price hasn’t fell below the support, and today actually bounced off it cleanly. Not to mention the bounce off the uptrend trendline. So far the price action stays positive for Monero. As long as the support level is being respected, XMR/BTC will either consolidate or continue trending upwards. The consolidation should be confirmed upon the rejection of the btc 0.018600 resistance that is 61.8% Fibs. Upon the price breakout above this resistance, Monero is likely to travel further north, aiming at the key resistance area near btc 0.002 psychological round number. Namely; 78.6% Fibs at btc 0.020088 or 88.6% Fibs at btc 0.020977. Currently RSI oscillator remains below the downtrend trendline, which makes Monero buying opportunity very risky at this time; disregarding the fact that the support is holding. Perhaps more time is needed for XMR to reveal its’ price development plan. Talking about the risk, if the support will be penetrated, with a clean daily close below btc 0.015627, Monero might be forced to go lower, hitting either btc 0.014800 (78.6% Fibs) or btc 0.014230 (88.6% Fibs). Briefly, fundamental news are extremely positive for Monero, although investors didn’t react on it. Perhaps market is still digesting the news and as long as the support is holding, price is likely to rise. Support: 1. 0.015756 2. 0.014800 3. 0.014230 Resistance: 1. 0.018594 2. 0.020088 3. 0.020977
X
by CryptalDash
1
Basic Attention Token (BAT) will be added to Coinbase?Recent rumors are that BAT might get listed on Coinbase, as was mention in the Coinbase report. In the report, it was mentioned that some cryptocurrencies like Basic Attention Token, Stellar and Cardano might be considered for addition in the Coinbase listings. On the 11 October, 0X has been added to the Coinbase and since then price is up by over 30% against the Bitcoin ( the link to our 0X idea is down below) While the BAT addition remains just rumors, market has already reacted and today price already went up by over 20%, hitting 3.8k satoshis high. This week trade volume has remain at a steady high rate, as the price was producing higher highs and higher lows. Today it broke above the 38.2% Fibonacci retracement level, and seems BAT is heading towards the next Fibs near 4k satoshis area. The resistance is confirmed by 50% Fibs along with the upper trendline of the extended descending channel. If broken there should be more upside potential, but upon rejection price should correct down. The correction could end either at 3.5k or 3.2k support levels. Support: 1. 0.00003500 2. 0.00003200 Resistance: 1. 0.00003940 2. 0.00004380 3. 0.00005015
by CryptalDash
RavenCoin massive gains over Bitcoin… time to take profit?Following the Binance announcement made on the 11th of October (twitter.com), that RavenCoin will be added to their listings on the October 12, RVN/BTC uptrend has begun. Price surged from 220 up to the recently established all-time high, reaching 824 satoshi. In 10 days Ravencoin has outperformed the Bitcoin by 333%, which is an amazing growth in a very short period of time. There is no question, that after such rally many investors would start to think about fixing their profits, thus selling RVN. Technically speaking, price has reached the resistance at 427.2% Fibonacci retracement level that is 885 satoshis. At first, under the massive trade volume, RNV/BTC broke above the Fibonacci resistance, although failed to close above. Today price has bounced off the resistance, which might trigger a selloff, not to mention the RSI oscillator downtrend trend line breakout. Although, for a strong correction to start, Ravencoin must break below the 773 satoshis support, only then further decline could be expected. In such scenario, price is likely to test either 660 or 550 sats support level, and potentially go even lower. On the upside, daily break and close above the 885 satoshis resistance might be the confirmation of further uptrend. This could be another 115% growth opportunity, as final upside target is seen at 1127.2% Fibs, that is 1670 satoshis level. Based on the percentage growth, upcoming wave up is expected to be very similar to the previous one, which was 117%. Support: 773 661 549 Resistance: 885 997 1109 1221 1333 1445 1557 1669
by CryptalDash
Ethereum's Constantinople Testnet FailedThe attention of the Ethereum community has been massively focused on the upcoming update called “Constantinople”. This is a huge step for the Ethereum blockchain, as the Constantinople was meant to bring a variety of upgrades, which were expected and needed. On 13 October 2018, Constantinople was put on the testnet, but failed to work. While it is unclear if it was the lack of miners on the ETH network for the Constantinople to fail, but certainly it is of great interest to miners. Why? Because this upgrade would lower the reward for the miners, and instead of getting 3 ETH, they will get only 2 ETH as a block reward. However, at the same time, Constantinople should reduce the inflation rate, which makes it more attractive for investors. While the update failed, investors didn’t seem to have any reaction as price remained within a very narrow range; between btc 0.031 support and 0.032 resistance. Both of these are the Fibonacci retracement level, and its clear how the 38.2% level is currently acting as the resistance. Although, looking at he 61.8% Fibs support, it was broken on the 11 October, and later, on the 15 October it was rejected. There is an impression that market is going through the uncertainty, as ETH/BTC price struggling to establish a clear direction during the past 3 days. Yes, it spiked up on the 15 October, reaching the btc 0.0344 high. However, the 88.6% Fibs support, 200 Moving Average and the long-term downtrend were rejected, and the 4h closing price below the btc 0.032 resistance. As the downside risk is very high, price might decline further, reaching either btc 0.0292, 0.0281, 0.0271 support. Nevertheless, for this to happen, 4h close must be below the btc 0.03 psychological support. On the upside, close above the btc 0.032 might be considered as a buy signal for short-term investors, and ETH/BTC should re-test the btc 0.034 resistance. Support: 1. 0.0310 2. 0.0300 3. 0.0292 4. 0.0281 5. 0.0271 Resistance: 1. 0.0320 2. 0.0344 3. 0.0376
by CryptalDash