Month: July 2018

Cardano Price Analysis: ADA/USD Primed for Gains above $0.1800

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Key Highlights ADA price moved into a bullish zone above the $0.1600 and $0.1700 levels against the US Dollar (tethered). There is a tiny connecting bearish trend line with resistance at $0.1780 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair remains well supported above the $0.1700 and the 100 hourly simple moving average. Cardano price is placed in a bullish zone against the US Dollar and Bitcoin. ADA/USD has to move past $0.1800 to gain traction in the near term. Cardano Price Analysis There…

Ripple Price Analysis: XRP/USD Sighting Break Above $0.4700

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Key Highlights Ripple price is slowly recovering and is currently trading above $0.4500 against the US dollar. There is a major bearish trend line in place with resistance at $0.4680 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to break the $0.4680 and $0.4700 resistance levels to make a nice upward move. Ripple price is facing tough barriers against the US Dollar and Bitcoin. XRP/USD may perhaps break the $0.4700 resistance to move into a bullish zone. Ripple Price Resistance There were…

Japanese Crypto Exchanges Push for Limit on Margin Trading Borrowing

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A self-regulatory organization formed by cryptocurrency exchanges in Japan is proposing a limit on how much investors can borrow when margin trading. According to a report from Jiji Press on Tuesday, the Japan Virtual Currency Exchange Association (JVCEA) has suggested domestic trading platforms enforce a restriction that investors can only borrow up to four times their deposit. The JVCEA said the proposed plan aims to protect domestic investors because there are currently no market rules governing the upper limit of how much cryptocurrency investors can borrow in margin trading. According to…

Ethereum Price Analysis: Can ETH/USD Hold Gains Above $466?

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Key Highlights ETH price started a fresh upside move and traded above the $465 and $470 resistances against the US Dollar. There was a break above a major declining channel with resistance at $461 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently placed nicely in an uptrend with a key support near the $466 level. Ethereum price is on the move above $465 against the US Dollar. ETH/USD is likely to break the $485 high for more gains in the near term. Ethereum Price…

XRP’s Drop in Line with Other Crypto ‘Underscores XRP’s Independence from Ripple’

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Ripple has released the second quarter 2018 report for its digital asset XRP today, July 24. According to the report, Ripple’s sales of XRP tokens were a “drop in the bucket” compared to the total XRP market. Per the report, Ripple sold $75.53 million in Q2 in total. Of this amount, the company sold $56.66 million via programmatic sales, which amounted to 0.125 percent of Ripple’s $45.35 billion in sales during the whole second quarter. Direct sales amounted to $16.87 million, carried out via Ripple’s subsidiary XRP II, LLC, a…

Tron (TRX) Price Watch: Small Reversal Pattern Sighted!

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Tron Price Key Highlights Tron price could have another shot at a rally as it broke above the neckline of a short-term double bottom. Price is hitting resistance around 0.0400 and may be due for a pullback before resuming the climb. Applying the Fibonacci retracement tool shows the nearby support levels where more buyers might be waiting. Tron price confirmed a short-term double bottom but might need to make a pullback to gather more bullish momentum. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to confirm…

Bitcoin Cash Price Analysis: BCH/USD Surging Above $750

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Key Points Bitcoin cash price gained traction and jumped above the $840 and $850 resistances against the US Dollar. There was a break above a declining channel with resistance at $810 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is placed nicely in an uptrend and it could retest the $890 and $900 resistance levels. Bitcoin cash price is surging higher against the US Dollar. BCH/USD is primed to extend gains above the $880 level in the near term. Bitcoin Cash Price Trend There…

Bitcoin (BTC) Price Watch: Bulls Keep Charging, Where to Next?

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Bitcoin Price Key Highlights Bitcoin seems unstoppable in its climb as it sets its sights on the next upside targets. Price is on its way to test the dynamic resistance at the 200 SMA inflection point then the $9,000 area of interest. Technical indicators on the daily time frame are still reflecting the presence of selling pressure. Bitcoin price has been on a tear and buyers might have enough energy to push for a test of the next upside barriers. Technical Indicators Signals The 100 SMA is below the longer-term…

Novogratz’s Galaxy Digital Leads $52.5 Mln Fundraising Round for Crypto-Lending Firm

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Crypto-focused merchant bank Galaxy Digital has recently led a $52.5 million fundraising round for crypto-lending firm BlockFi, according a blog post by the company July 24. Galaxy Digital CEO and founder Mike Novogratz confirmed in a tweet that he is, “excited to get into the crypto lending business.” With the new round of investment, the startup will reportedly be able to expand its business outside the U.S. and to support more cryptocurrencies. BlockFi, featuring “loans backed by your cryptoassets,” offers corporate and retail loans on their digital asset holdings. BlockFi…

Coinbase Internal Investigation Concludes No Insider Trading Took Place

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Coinbase exchange has reportedly concluded that no insider trading of Bitcoin Cash (BCH) took place in December 2017, Fortune reports Tuesday, July 24. Anonymous sources close to Coinbase told Fortune that the exchange and wallet service provider conducted a company-wide meeting last week to discuss the results of an internal investigation. A Coinbase spokesperson revealed to Fortune that the “independent internal investigation” has been completed, and the company is “determined to take no disciplinary action,” following a months-long probe by two national law firms. A Coinbase representative told Fortune: “We…