Category: Analysis

Stellar Temporarily Flips EOS as ADA/USD Bulls Eye 12 cents

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Still, altcoins are weathering strong headwinds. Other than bullish ADA/USD and XLM/USD, EOS/USD, XMR/USD pairs are stable while LTC/USD could below $50. Needless to say, we are overly positive expectant of loss reversals following 10 months of consecutive lower lows. Let’s have a look at these charts EOS/USD Price Analysis Carbon USD—CUSD, is officially the first stable coin on the EOSIO platform. With fiat as collateral, CUSD is also accessible for Ethereum users. But according to the founder, Samuel Trautwein, their grand plan is to transition into this “fiat-backed algorithmically…

NEM Price Rebounds to Two-Month High Following Coincheck Relisting

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Twitter Facebook LinkedIn The price of NEM tokens (XEM) has risen some since Japanese exchange Coincheck announced that it would once again allow trading of the token, which was suspended after a hack at the exchange led to a more than half-billion dollars in tokens being stolen and systematically laundered through other exchanges. The XEM price started picking up momentum just before the announcement. It presently sits at almost 12 cents per token with a market capitalization of nearly $1 billion, a far cry from its January high (which had…

Bitcoin Erases Weekend Gains & Struggles to Break Out of Bear Trend

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Twitter Facebook LinkedIn Bitcoin kicked off the week by erasing gains made during the weekend, falling 1 percent against the US Dollar. Bitcoin Relinquishes Hard-Fought Gains The BTC/USD pair stayed depressed despite an upside attempt, printing intraday lows near 6319-fiat against the high at 6384-fiat. The breakdown action in the European forex market helped the dollar establish its 16-month high. Due to the US bank holiday today, Wall Steet is bound to post lower volume, but its relevance to the overall intraday health of the greenback could surface tomorrow when the…

Cryptocurrencies Will Not Replace or Disrupt Fiat Systems

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The People’s Bank of China (PBoC) has shown extreme confidence in the superiority of fiat systems over cryptocurrencies. China’s central bank refused to acknowledge blockchain and its derivatives as catalysts for financial innovation. Stating that no technology was able to disrupt the monetary system, the bureau believed that blockchain would not make any substantial difference in the ways conventional financial protocols govern. It further added that blockchain assets like Bitcoin would remain inflexible and without intrinsic value-credit collateral. The comments came as a part of a 20,000-word research paper published…

Bitcoin Cash Drops 8% Despite November 15 Hard Fork, Market Stagnant

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Twitter Facebook LinkedIn Over the last 24 hours, the price of Bitcoin Cash (BCH) has dropped by more than 8 percent, experiencing a steep sell-off for the first time since October 11. For nearly two weeks, BCH has maintained strong upward momentum supported by the growing anticipation towards the scheduled November 15 hard fork on the Bitcoin Cash network. Yet, since November 7, Bitcoin Cash has recorded five sell candles on its daily price chart, dropping from $640 to below the $500 mark within a five-day span, by more than…

Bitcoin Price Watch: BTC/USD Targets Fresh Weekly Lows

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Key Points Bitcoin price declined recently below the $6,300 support before correcting higher against the US Dollar. There was a break above a connecting bearish trend line with resistance at $6,360 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is struggling to break the $6,380 resistance and the 100 hourly simple moving average. Bitcoin price is trading in a bearish zone below $6,400 against the US Dollar. BTC/USD could decline further towards the $6,250 or $6,220 level in the near term. Bitcoin Price Analysis…

Cardano Price Analysis: ADA/USD Could Resume Gains Above $0.080

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Key Highlights ADA price corrected lower recently and tested the $0.0738 support area against the US Dollar (tethered). There is a major bullish trend line formed with support at $0.0755 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is likely to climb higher once again above the $0.0780 resistance in the near term. Cardano price is holding key supports against the US Dollar and Bitcoin. ADA/USD could break the $0.0780 resistance as long as it is above $0.0735. Cardano Price Analysis After trading above…

Ripple Price Analysis: XRP/USD Could Recover Above $0.5200

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Key Highlights Ripple price extended slides recently, but it found support near $0.4860 against the US dollar. There was a break above a key bearish trend line with resistance at $0.5050 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently trading above $0.5000 and it could recover above $0.5200 in the near term. Ripple price is slowly recovering against the US Dollar and Bitcoin. XRP/USD is positioned nicely for more upsides towards the $0.5200 or $0.5280 levels. Ripple Price Analysis There was a…

Ethereum Price Analysis: ETH/USD Bullish Above $214

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Key Highlights ETH price found a strong support near the $206 level and recovered against the US Dollar. There was a break above a connecting bearish trend line with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently moving higher towards the $212 and $214 resistance levels in the near term. Ethereum price is trading in a range against the US Dollar and bitcoin. ETH/USD must move above the $214 resistance to start a solid upward move. Ethereum Price Analysis There were…

Cardano, Zcash, Stellar Surge Prior to Coinbase Listing, XLM up 27%

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Twitter Facebook LinkedIn As the anticipation towards additional cryptocurrency integrations builds following the listing of Basic Attention Token (BAT) and 0x (ZRX), the prices of Cardano (ADA), Zcash (ZEC), and Stellar (XLM) have started to surge. Since November 2, the day BAT was officially integrated into Coinbase Pro and Coinbase.com, XLM, the native cryptocurrency of the Stellar blockchain network, has increased from $0.22 to $0.28, by more than 27 percent. Cardano and Zcash, two cryptocurrencies alongside Stellar, BAT, and 0x Coinbase expressed its interest in May, have also increased substantially…