Connect with us

Criptodivisas

Ripple Technical Analysis: XRP/USD dominated by bears as price hits lowest levels in 3 weeks, small bounce which may be temporary, Ripple ran well into oversold territory

Published

on

  • Ripple price came under heavy selling pressure in the early part of the session on Wednesday, dropping as much as 7%.
  • XRP/USD drops to lowest levels in over 3 weeks, pushing to lows of $0.5194.
  • On the 60-minute chart, the RSI well run its course into oversold territory.

 

XRP/USD 60-minute chart

 

Spot rate:                    0.5377

Relative change:         – 3.40%

High:                            0.5620

Low:                            0.5194

 

Trend:                          Bearish

 

 

Support 1:                   0.5195, (support on 60-minute chart).

Support 2:                   0.4915, 25th April lows.

Support 3:                   0.4555, 1st April lows.

Resistance 1:              0.5440, 12th June lows.

Resistance 2:              0.5690 50MA.

Resistance 3:              0.5945, supply zone.

Advertisement

Bitcoin

Top 7 Cryptocurrency Predictions for 2019

Published

on

Some days it feels like it’s all bad news for crypto. When the Federal Bureau says it’s not even a blip on the radar, the SEC delays another important decision, or the Chinese clamp down on content. The Ethereum scaling issue is putting everyone in a bad mood and regulatory uncertainty is causing confusion.

But, hey. If there’s anything we know about this crazy space, it’s that the situation can turn on a dime. Daily fluctuations and weak hands aside, a lot of hard work is being done. Countries like Switzerland and Malta are leading the way on regulation. Robust platforms are getting built. And those truly dedicated to crypto have hung up a “business as usual” sign despite the market slump.

But what’s in store for the year ahead and as we move into Q4 2018? Check out these top 7 predictions for 2019… Any thoughts of your own?

7. The Year of the Security Token

If 2017 was all about raising tons of money without fear of regulatory interference, the day of reckoning has come. In the United States, particularly, there’s an overall consensus from the SEC that most tokens are securities. And even if they aren’t, well, people just aren’t taking chances.

6. Further Price Decline Before Upward Swing

crypto price decline

You were probably hoping to hear about rainbows and butterflies and Bitcoin and Ethereum skyrocketing in price. Well, that isn’t necessarily going to happen. At least, not until a further drop first. According to Kovalak:

“The largest cryptocurrencies will test lower prices before new all-time highs. Would not be unreasonable to see Bitcoin go below $3,500 and I think at these levels the fundamental story becomes hugely attractive.” Are you ready for another drop? Better buckle your belt!

5. Decentralized Exchanges and Greater Security

It’s not only John McAfee who thinks that decentralized exchanges will take over as we move into the future. There’s always been something just not quite right about centralizing a peer-to-peer technology.

But with decentralized exchanges suffering from poor usability and transaction limitations, they’re still struggling to take on the incumbents. 2019 will change all that, not only making transacting cheaper but also keeping our crypto safer since having one single point of failure has been many an exchange’s undoing.

4. Enterprise Adoption

Ledger CEO Eric Larchevêque said, “Enterprises are really at the gates of cryptocurrencies. They are waiting to invest as much as they can.” And 2019 will see larger companies integrating blockchain technology into their business processes. They’ll start to see the benefits of cost savings, fraud reduction, and greater efficiency.

Khaled Khorshid, Co-Founder | Technology for Treon, says “I predict that 2019 will be similar to 1999 when Enterprise Systems like Oracle, Siebel, Clarify, SAP, Broadvision, and others brought a leap in companies’ efficiencies by automating and integrating business processes. Starting in 2019 Blockchain technology will take companies to the next level, from data management to the information age. DApps will be the focus.”

3. Institutional Investors Jump In

As regulation finally makes it to a point where traditional investors are comfortable enough to go all-in, the crypto space will explode. Projects that are similar to existing financial systems will gain in popularity first, including Bitcoin Futures and ETFs. Says Zhang Jian, Founder of Fcoin:

“2019 will be the year that traditional investors within the stock market will take the leap into digital assets. Compliance standards and regulations will begin maturing in their understanding of blockchain, both domestically and internationally. As these specific regulations materialize and roll out to the public, a new wave of market-makers will pour into the space.”

2. Scaling Solutions

bitcoin lightning network

“The most interesting ongoing development in cryptocurrency today is the prototyping and release of Layer 2 solutions such as Bitcoin’s Lightning Network and Ethereum’s Plasma,” says Co-Founder and CSO Dhruv Bansal of Unchained Capital. “It’s become clear that cryptocurrencies lucky enough to attract sufficient investors and users inevitably succumb to the twin afflictions of increasing fees and limited throughput.”

Solving most existing blockchains’ scalability issues can and must take front and center in the year ahead if they’re to stay in the race. Says Bansal, “Bitcoin’s Lightning Network was beta released to the public earlier this year and already has some 3000+ nodes with 10k+ payment channels between them, providing a capacity of more than $500k in BTC for near-instant peer-to-peer transactions.

Ethereum’s Plasma project has not yet launched but a new paper by lead developers Vitalik Buterin and Joseph Poon suggests much progress has been made on the structure and design of Ethereum’s answer to the Lightning Network.” Watch this space.

1. Mass Adoption

That 2019 will be the year of mass adoption of cryptocurrencies is hard for many to believe. Most of the wider US and UK public have never heard of blockchain or–if they have–think it’s something illegal.

Most likely, when we start to see wider usage, Asia will take the lead, although, it’s doubtful that blockchain solutions will have enough maturity for mass appeal in the coming months.

The general consensus from the crypto community seems to be that next year is too soon to see mass adoption of crypto. We first need scaling solutions, investor buy-in, enterprise integration, tighter security, and, of course, regulation. But who knows what’s in store for 2020? That’s a little harder to gauge.

News Source:

Continue Reading

Bitcoin

TRON (TRX) Long-Term Price Forecast- February 17

Published

on

TRX/USD Long-term Trend: Ranging

Supply zone: $0.0400, $0.05000, $0.0600
Demand zone: $0.01000, $0.00800, $0.00600

Tron long-term outlook remains in a range-bond market. The bears return predicted in last week analysis remained strong within the range. The two EMAs were broken as the bears continue the downward journey.

TRXUSD dropped initially to $0.02448 and later to $0.02360 in the demand area. This was the low of the week on 14th February.


With price below the two EMAs crossover and the stochastic oscillator signal in the oversold region pointing up at 8%. It suggests a minor push to the upside before downtrend continuation within the range.

TRXUSD is in consolidation and trading between $0.02881 in the upper supply area and at $0.02142 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.

Source.bitcoinexchangeguide

Continue Reading

Bitcoin

Bitcoin [BTC/USD] Price Analysis: Sideways trend resumes as bears suck volatility out of the market

Published

on

Bitcoin has been moving stagnantly in a sideways fashion for over a week now, ever since its short-term pump on 8 February 2019.

The price of Bitcoin, at press time, was at $3,576 with a market cap of $63 billion. The 24-hour trading volume of Bitcoin is at $5.89 billion, and most of the trading volume for Bitcoin is coming from BitMEX by trading BTC perpetual contracts against the US Dollar.

1-hour

The one-hour chart for Bitcoin shows an uptrend that extends from $3,366 to $3,577, while the downtrend in the current time frame is not yet formed. The support at $3,358 is far from being tested ever since the above-mentioned rally. The resistance at $3,498 was breached a few days back however while the subsequent resistance at $3,577 is currently being tested.

The Parabolic SAR markers have spawned below the price candles, pushing the price upwards in line with a bullish trend.

The MACD indicator shows a bullish crossover as the MACD and the signal lines have crossed each other and are headed up.

The Relative Strength Index is slightly above the 50-line but below the 60-line. This indicates that the buying momentum is increasing for Bitcoin.

1 Day

The one day chart for Bitcoin shows a dominant downtrend that extends from $9,800 to $3,590. There isn’t a major rally which would lead to the formation of an uptrend. The support at $3,189 is holding good since November of last year. However, the support at $4,111 has now become a resistance line. The long term resistance for Bitcoin can be seen hanging at $7,641.

The Aroon indicator shows a further decline of the uptrend which was due to the recent short-term rally that occurred during the second week of February.

The Stochastic indicator is showing a bearish crossover in which, the Stochastic line and the signal line are both moving downwards.

The Chaikin Money Flow reads above the zero mark and indicates a decrease in the momentum of buyers i.e., the buyers getting exhausted while simultaneously the sellers gaining momentum.

Conclusion

The one-hour chart for BTC shows a relatively positive outlook as indicated and confirmed by the MACD, SAR and the RSI indicators. However, the longer time frame indicates a completely opposite trend for Bitcoin i.e., bearish trend, as indicated by the Aroon, Stochastic, and CMF indicators.

Source. ambcrypto

Continue Reading
Advertisement
Advertisement
Open

Close