Day: July 9, 2018

Cardano Price Analysis: ADA/USD Could Extend Declines

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Key Highlights ADA price is trading below the $0.1500 support and is currently in a bearish zone against the US Dollar (tethered). There is a key bearish trend line formed with resistance at $0.1450 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair may continue to move down towards the $0.1400 and $0.1380 support levels in the near term. Cardano price is under pressure against the US Dollar and Bitcoin. ADA/USD is likely to retest the $0.1400 support if sellers remain in action. Cardano Price…

Ripple Price Analysis: Can XRP/USD Bounce Back?

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Key Highlights Ripple price declined a few points recently after trading as high as $0.4877 against the US dollar. There is a key bullish trend line forming with support at $0.4680 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may dips a few more points, but it remains supported above the $0.4650 level. Ripple price is placed in a bullish zone against the US Dollar and Bitcoin. XRP/USD must break the $0.4800 and $0.4860 resistances to trade further higher. Ripple Price Support During the…

Which Cryptocurrency Is the Most Usable as Money?

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It’s no secret that most mainstream economists don’t think too highly of cryptocurrencies. Not only have Bitcoin, Ethereum and the rest produced the “greatest bubble in history,” but they’re “neither a serious method of payment nor a good way to store capital” — at least according to the Bank of America and Nouriel “Dr Doom” Roubini, respectively. However, while traditional financial experts have spent countless hours complaining that the volatility of cryptocurrencies renders them unviable as actual currency, it is possible to use them as money in a wide variety…

Monero (XMR) Price Watch: Another Bullish Channel Bounce?

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Monero Price Key Highlights Monero is gaining traction since its bounce off the channel support and is testing the mid-channel area of interest. Applying the Fibonacci extension tool on the latest correction move shows that the 38.2% level lines up with this barrier. Stronger bullish momentum could take it up to the next levels at the top of the channel and beyond. Monero is gaining traction on its bullish run and looks poised to hit the next upside targets marked by the Fib extension tool. Technical Indicators Signals The 100…

Ethereum Price Analysis: ETH/USD Approaching Support

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Key Highlights ETH price traded above the $490 level before starting a downside correction against the US Dollar. There is a major bullish trend line forming with support at $472 on the hourly chart of ETH/USD (data feed via Kraken). The pair is approaching a few key supports like $478, $472 and $470, which are buy zones. Ethereum price is currently correcting lower against the US Dollar and Bitcoin. ETH/USD is likely to find support near the $472 level in the near term. Ethereum Price Support Yesterday, there was a…

Bitcoin (BTC) Price Watch: Ascending Channel Below Major Support

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Bitcoin Price Key Highlights Bitcoin price has formed higher lows and found resistance at the $6,785 level to create an ascending triangle. Price is testing the pattern’s resistance, which lines up with the broken long-term support visible on the 4-hour chart. Technical indicators are suggesting that the ceiling could hold for now. Bitcoin price is testing the top of its ascending triangle pattern, but technical indicators suggest resistance might hold. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA to indicate that the path of least…

Filings Link Crypto Exchange Bitstamp to Game Maker Nexon

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Public filings released in late May establish the strongest link yet between Bitstamp and Korean gaming firm Nexon, which was rumored to have bought the cryptocurrency exchange earlier this year. Those rumors date back to the spring when sources indicated that Nexon would pay as much as $500 million for Bitstamp, one of the industry’s longest-running bitcoin exchanges. Word of the acquisition also came months after Nexon bought a majority stake in crypto exchange Korbit for roughly $80 million in September 2017. Business Insider later reported in April that Nexon…

Local Crypto Exchanges are Circumventing India’s New Bitcoin Ban, Here’s How

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According to Coindelta co-founder Shubham Yadav, cryptocurrency exchanges in India can no longer process fiat-to-crypto trades and have shifted their business model to crypto-to-crypto trading. Central Bank’s Ban on Crypto Stands In April, CCN reported that the Reserve Bank of India, the country’s central bank, first imposed its ban on cryptocurrency trading, effectively disallowing local banks from providing banking services to crypto exchanges. On July 3, the Supreme Court of India refused to lift RBI’s cryptocurrency trading ban, reaffirming that banks cannot deal with cryptocurrency exchanges in India. While the…

Litecoin, EOS, Stellar Lumens, Tron, IOTA Technical Analysis

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Weekend’s price action was a short in the arm for Bitcoin, IOTA and a host of other coins under our focus. EOS is also stable despite claims of block producer crash by EOS New York. On the other hand, Tron implements their incentivization plan which is overly good for network development. EOS Technical Analysis EOS Daily Chart by Trading View From accusations of two percent of coin holders owning more than 90 percent of all EOS coins in circulation, RAM speculation, EOS centralization calls due to their emphasis on scalability…