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Analysis

EOS price analysis: EOS/USD spikes to 10.87 as Bitfinex enables EOS deposits and withdrawals

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  • EOS gained 2% during early Asian hours, but the upside is limited.
  • Bitfinex users now can deposit and withdraw EOS.

EOS/USD is changing hands at $10.68.  The coin spiked 2% during early Asian hours recovering from $10.20 low. EOS market value is registered at $9.5B with average daily trading volumes $725M. The upside momentum was accompanied by a short-term volatility spike, however, it is still subdued on a longer-term timeframe

The upside movement might have been triggered by the announcement that Bitfinex traders now can deposit and withdraw EOS – the first time after the transition from Ethereum blockchain to EOS mainnet.

Basically, it means that the transition to EOS.IO has completed successfully. The first user that received EOS deposit address on Bitfinex, noted the high speed of the blockchain and free of charge transactions.

EOS technical picture

Looking technically, EOS/USD is locked in a range with the upper limit at $10.80-11.00 and the ultimate support at $10.00. If the upside momentum gains traction and the coin manages to get above $11.00 handle, $11.64 (June 14 high) will come into focus, followed by $12.00. On the downside, a sustainable movement below $10.00 will take the price towards $9.08 (June 13 low) and $8.03 (78.6$ Fibo).

EOS/USD, the hourly chart

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Analysis

BTCUSD Analysis: The latest recovery and the bigger picture [Video]

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Bitcoin remains under pressure in 2018 with the market consolidating off the yearly low and still at risk for deeper setbacks. However, on a short-term basis, the recent break above $6,830 has triggered an inverse head & shoulders formation that has succeeded in taking the immediate pressure off the downside.

In this analysis, we take a look at Bitcoin each day, highlighting all of the need to knows for anyone looking to extract up to date information about major levels and relevant trends, both short term and longer-term. The analysis is designed for the trader, investor and even those simply holding the crypto asset, looking for an idea of where they may want to consider making that next conversion.

The cryptocurrency update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value add to all.

READ MORE:

Compilation of Predictions on the Future Price of Bitcoin Made by Experts, Millionaires Investors and Cryptocurrency Enthusiasts, Judge You.

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Analysis

IOTA (IOT) Technical Analysis:| JULY 23, 2018 |

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IOTA (IOT) Technical Analysis

IOTA (IOT) Technical Analysis

IOTA Daily Chart By Trading View

After three attempts by sellers, we now have a triple bottom right at 90 cents, our main support line and 2018 lows.

This line, borrowing from previous IOTA analysis, anchors our trade plan and we still maintain the same stand:  As long as IOTA price action is trending within 90 cents and $1.3, we shall remain neutral.

The best approach here is to trade a break out in either direction and gains above $1.3 or July highs will no doubt help resuscitate buyers helping push valuation back to $2 or higher.

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Analysis

Tron (TRX) Technical Analysis:| JULY 23, 2018 |

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Tron (TRX) Technical Analysis

Tron (TRX) Technical Analysis

Tron Daily Chart By Trading View

Undoubtedly, Tron is doing everything it can to compete and with the release of Tron Link, developers would have an easy time to interact with the Tron blockchain. Through an API, they can freely contribute dApps to the Tron ecosystem without compromising on security thanks to the robust encryption is use. Tron Link is an end product of Tron Watch who are also the creators of the Tron Wallet and is simply a chrome extension.

A simple Fibonacci tool between last week’s high low and we can see that TRX prices are finding support right at the 78.6 percent retracement level. Despite this encouraging development, we still remain neutral with bearish expectations unless of course we see gains above 4 cents, a previous support line and immediate resistance.

Remember, TRX bears are technically in charge and it’s clear when we draw a simple trend line between May-July highs. As such, we remain positive on price recovery but should sellers dip below July lows at 3 cents then we recommend shorting on every pull back with targets at 2.5 cents.

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