Day: July 20, 2018

Cardano Price Analysis: ADA/USD Approaching Key Support

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Key Highlights ADA price surged towards the $0.2000 level before starting a downside correction against the US Dollar (tethered). There is a significant bullish trend line formed with support at $0.1700 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is correcting lower, but it remains well supported above the $0.1700 level. Cardano price is placed nicely in a bullish zone against the US Dollar, Ethereum and Bitcoin. ADA/USD remains buy on dips near $0.1700. Cardano Price Analysis There were further gains in cardano price…

Ripple Price Analysis: XRP/USD Turned Bearish?

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Key Highlights Ripple price broke a major support area near $0.4750 to move into a bearish zone against the US dollar. There is a key bearish trend line in place with resistance at $0.4700 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must move back above $0.4750 and the 100 hourly simple moving average to recover. Ripple price is under significant pressure against the US Dollar and Bitcoin. XRP/USD is likely to extend declines if it fails to move back above $0.4750. Ripple Price…

Ethereum Price Analysis: ETH/USD Facing Uphill Task

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Key Highlights ETH price declined further and broke the $482 and $475 support levels against the US Dollar. There is a major bearish trend line formed with resistance near $475 on the hourly chart of ETH/USD (data feed via Kraken). The pair has to move above the $475 and $480 resistance levels to move into a bullish zone. Ethereum price is under pressure against the US Dollar and Bitcoin. ETH/USD must move above $475 and the 100 hourly SMA to initiate a recovery. Ethereum Price Resistance There were further losses…

Tron (TRX) Price Watch: More Bulls Ready to Join This Retest?

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Tron Price Key Highlights Tron recently broke past a descending trend line on the 4-hour chart to signal a reversal from the downtrend. Price hit resistance at 0.0435 and is in the middle of a correction from the rally. Using the Fibonacci retracement tool shows the near-term support levels where buyers might be waiting. Tron is in the middle of a pullback from its recent surge higher, and buyers might be waiting at the Fib retracement levels. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA…

Bitcoin Cash Price Analysis: BCH/USD Holding Key Support

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Key Points Bitcoin cash price is holding an important support near $800 against the US Dollar. There is a contracting triangle forming with support near $805 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair has to move above the $830 and $840 resistances to gain traction in the near term. Bitcoin cash price remains supported above $800 against the US Dollar. BCH/USD is about to make the next move either above $830 or below $800. Bitcoin Cash Price Resistance Yesterday, we saw a minor…

Bitcoin (BTC) Price Watch: Is That a Bullish Continuation Signal?

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Bitcoin Price Key Highlights Bitcoin price recently broke past key resistance levels but is now consolidating around the $7,400 level. This could be seen as a bullish flag pattern, which follows a strong rally and could be seen as a continuation signal. A break past the $7,600 level could be enough to confirm that the bullish run is resuming. Bitcoin price appears to be consolidating inside a bullish flag pattern, which could be indicative of another run higher. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA…

Huobi Launches Huobi Cloud for Establishing and Operating Digital Assets Exchanges

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Huobi Group has announced the launch of a new platform, Huobi Cloud, that will allow users to build digital asset exchanges on top of Huobi’s existing platform. According to a statement shared with Cointelegraph, more than ten multinational companies have already become partners with Huobi Cloud. The new product is aimed at establishing over-the-counter (OTC) and digital asset exchanges. Partners will also be able to use the order integration and wallet systems, as well as the asset management and clearing system of the Huobi Global platform. Leon Li, Chairman of…

Internal Affairs Minister Denies Involvement in Crypto-Related Gov’t Investigation

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Japan’s Internal affairs minister Seiko Noda has denied her involvement in a government investigation into the operation of a non-registered cryptocurrency exchange, local news outlet the Asahi Shimbun reported July 19. In January, the Financial Services Agency (FSA) reportedly suspected a Tokyo-based company of violating the law by operating a non-registered cryptocurrency exchange. The FSA requested a written response to its concerns from the company, arguing that it “did not respond by the deadline given, it would report the matter to investigating authorities and take necessary steps.” The document obtained…

Decentralized Recruitment Marketplace to Protect Workers From Inflation

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Australia-based startup ChronoBank has launched the beta of LaborX, a decentralized marketplace for labor hiring. As the ChronoBank white paper claims, it aims to “revolutionize the short-term recruitment of real-world professions” by practically making any kind of work available on-demand — paid per hour, per day or even per second. The company currently focuses on tech personnel, but the principle can be extended to members of any profession which are hired and fired when the necessity arises — think plumbers and construction workers, chambermaids or other auxiliary staff. The company…

Chip Manufacturer Cuts Revenue Forecast Due to Weak Demand for Crypto Miners, Again

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Taiwan Semiconductor Manufacturing Co. (TSMC), a leading producer of microchips, has decreased its annual revenue and capital expenditure estimates following growth rate reduction in the smartphone and cryptocurrency mining fields, Business Times reported July 19. TSMC produces chips for tech giants like Nvidia Corp., Apple Inc., and Qualcomm Inc. TSMC cut its revenue growth forecast for 2018 to “a high single digit percent” from ten percent, and lowered its expected capital expenses volume to $10-10.5 billion from $11.5-12 billion. According to analysts, the company could face slowing demand for high-end…