After another morning of backwards momentum, our attention switches in the opposite direction this afternoon as the overall trend turns green. As it stands, a number of major cryptocurrencies are now starting to climb up, in some instances, these gains are coming in leaps and bounds. Of course, we can’t get too excited just yet, its unlikely that a bull market is about to return, however, even if this is just down to a simple air of correction, movements are positive, that’s always something to be thankful for.
Moreover, with many people ready to buy during these record low prices (two-monthly) perhaps a sudden surge like this is what we need to instigate that activity.
Either way, we are here to report the news, so we will do just that, here’s how the markets look going into this afternoon.
At the time of writing, Bitcoin is valued at $6,529.87, up 0.95% This is a minor climb, but it is a climb, and therefore we are starting to see signs that Bitcoin is going to challenge a move back up to $7,000.00 once again. In reality, we need to see Bitcoin at least try and breach $7,000.00 soon, otherwise we are at risk of investors losing interest. I suppose the saying ‘treat them mean, keep them keen’ really does have some bearing here.
Likewise, at the time of writing, Ethereum is on the up. Valued at $488.63, up 2.71%. If this continues through the afternoon we might very well see Ethereum reach $500.00 again, once this happens, investors will certainly breath a sigh of relief.
Cardano, Stellar, IOTA and TRON are all relishing in some strong positive movements. At the time of writing, Cardano is up 8.11%, Stellar is up 4.55%, IOTA is up 5.44% and TRON is up 6.17%. We at least know the latter is down to a combination of market correction and of course, a recent announcement concerning a brand new TRONWallet project.
This positivity seems to be threaded right through the markets. At the time of writing, ICON, Siacoin, Verge and Nano are all making very significant movements, up 11.98%, 21.75%, 10.99% and 14.12% respectively.
Don’t let optimism get the better of you. As quick as this sudden change came on, it could drop off and the markets could continue to decline again. As mentioned, this is mostly due to correction (this is what we should assume for now at least) and therefore we aren’t totally out of the woods just yet. Simply, just let this fall as part of your extensive market research and for now, let’s continue to watch the markets to see how they perform through the rest of today, into this evening on the final approach to the weekend.
EOS Technical Analysis: AUGUST 20, 2018
EOS Technical Analysis
From the News
- Huobi Global resumes EOS withdrawal after earlier suspension citing insufficient CPU resources.
— Huobi Global (@HuobiGlobal) August 19, 2018
Two days after the conclusion of that three-bar reversal pattern we mentioned in our last EOS trade plan, upsides are unexpectedly limited.
Notice that EOS prices are still consolidating inside Aug 17 bullish engulfing high low but are likely to edge higher this week providing opportunities for short traders to load up positions at $7, our immediate resistance line and previous break out level.
Remember, despite these higher highs, bears are overwhelmingly in charge considering the last two or three months trend.
Crypto News Flash: Bitcoin (BTC), Ethereum (ETH), Ripple and XRP, VeChain (VET), Cardano (ADA), IOTA
From Bitcoin’s expansion in North America to a new crypto conference on Capitol Hill, here’s a look at some of the stories happening in the world of crypto.
Bitcoin (BTC) and Ethereum (ETH)
Square’s Cash App now supports Bitcoin in all 50 states across the US, which means all 33.5 million users can now use the platform to buy and sell BTC.
Meanwhile, a new partnership is bringing more than a million people to a zero-fee trading platform for Bitcoin and Ethereum. The new pact brings BRD’s 1.2 million customers to Canada’s crypto trading platform Coinberry.
— Coinberry (@coinberryio) August 15, 2018
Ripple and XRP
Republican Congressman Warren Davidson has invited Ripple and 32 leaders in the crypto space to talk about ICO regulations. The list of invites includes NASDAQ, Kraken, CME Group, Circle and Intercontinental Exchange (ICE), which is forming Bakkt, a new crypto trading platform.
The meeting is scheduled to happen on Capitol Hill on September 25th.
Cardano has released its latest weekly. Th report highlights progress on the platform’s IELE testnet and Daedalus wallet. The company has also listed new job openings.
The latest Cardano Weekly Technical report by IOHK is out! You can have a look here: https://t.co/1t8Cadr8Yq
— Cardano Foundation (@CardanoStiftung) August 17, 2018
IOTA’s lead developer has dropped a new update on IOTA’s Trinity wallet, announcing that the desktop release is on the horizon.
VeChain CEO Sunny Lu is gearing up for a Q&A. The YouTube link is already live, with the session scheduled for 6:00 a.m. PST Monday.
EOS price analysis: Trapped in a triangle; some time before a breakout
- EOS stuck in a triangle on the medium term chart.
- Retraces from upper end.
EOS is stuck in a triangle that is slopinhg on the downside and the price has started retracing from upper end of the triangle on the medium term chart, although it is still some time before the breakout of this traingle occurs.
EOS/USD is up nearly 3 percent at $5.07 just around high point of the day. On the 480-minute chart, this crypto has got itself stuck in a downward sloping channel and the price is retracing from the upper end of the triangle.
Next move is on the downside where the lower end of the triangle will come at the rescue and then comes probably a breakout point – most likely on the upside.
EOS/USD 480-minute chart: