Bitcoin is down 10 percent in the past 24 hours and has set a new low for the year. The currency has been struggling to stay above $4,000, but it looks like the bears have the upper hand, at least in the short term. The currency slumped below $3,400 on most markets overnight and has since then looked increasingly likely to head to $3,000. At press time, Bitcoin was trading at $3,377 on BitMEX, Coinbase Pro and Kraken.
The rest of the market has also been heavily battered, with Ethereum trading at $86, Stellar down 17 percent to $0.11 and EOS bleeding heavily to trade at $1.7. For the second day in a row, Bitcoin SV and Tether are the only cryptos in the green in the top 20, with SV climbing to clinch the fifth place.
$3,000 an Increasing Possibility
Just three weeks ago, Bitcoin was trading at $6,400 and was enjoying one of its best runs in terms of volatility. This all changed just before the Bitcoin Cash hard fork, and nothing has been the same since. The currency has since then lost close to half its value and the agony looks set to continue for investors
At press time, the currency had lost 10 percent of its value in the past 24 hours to trade at $3,434. On some markets, the $3,400 level had been well beaten. These include BitMEX, Kraken, Bitstamp, Coinsbank and Coinbit where it was trading below $3,380.
Despite the unimaginable losses, it’s still not clear why the market is crashing. Some have attributed the losses to a spill-over effect of the Bitcoin Cash fork, but that in itself doesn’t seem enough to crash the entire market. Bitcoin SV, the result of that fork, has been on a great run recently which has seen it overtake Bitcoin Cash and EOS, further undermining this reason.
There are those who are of the conviction that all this is orchestrated by well-funded crypto traders who are tanking the market to make profits
Bitcoin is NOT naturally going down. It is being pushed down via whales placing spoofy sell orders on exchanges to make noobs and risk managers sell to “buy back lower”. They are stealing your bags and will make you buy back at a higher price.
While there’s no doubt in many people’s mind that Bitcoin will bounce back in 2019, there are indications that it could go even lower this year. With the sell-off being at its highest since mid-year, the currency could test the $3,000 level before the month ends. This could be the ultimate test for Bitcoin as falling below this level could greatly impair its ability to bounce back.
Crypto Startups Begin Sinking
The bear market has seen many crypto and blockchain startups either shrink their operations or sink altogether. Most of these startups raised funding through ICOs and have held most of it in Bitcoin and Ethereum. With the prices being 80 percent lower, they have been faced by lack of funds.
One of these is the Ethereum-based blockchain incubator, Consensys which recently revealed that it will reduce its workforce by 13 percent. The New York-based firm has been one of the most successful in the blockchain space and its downsizing shows just how much of an effect the bear market is having on most startups
Bloomberg also revealed that ETCDEV is closing down after lacking enough funds to operate. The startup is behind the successful Ethereum Classic which is a fork of Ethereum. According to its founder Igor Artamonov, the firm’s employees have had to seek employment in rival firms. He explained:
In this short timeframe, IOTA’s trend is bullish/sideways. IOTA is currently resting at EMA50 and MA200 confluence point while gathering pace to attack the resistance zone at 6080 sats, a Fib50 of the March 21st -May 13th high low at 6000-6100 sats.
Breakout point for IOTA would be penetration of the Fib382 at 5600 sats and breakdown point is the 4950-5000 sats zone, a local bottom from couple of days ago.
Daily IOTABTC is picturing the struggle in more detail – IOTA has been clawing back up to enter the declining wedge again which it managed to do 4 days agod. Current mini resistance is the Fib236 at 5500 sats. It is still far away from its horizontal support at 6200 sats. It is right now hitting MA50 which needs to be pierced before moving further up to the major resistance at 6300 sats.
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IOTABTC is still in a major, long-term bearish trend. It is molding a falling wedge pattern, a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge and is further confirmed with IOTA being oversold on the weekly CCI. However, considering this is the weekly chart, there is still some time to wait before this plays out. IOTA is currently sitting at 5220 sats and the wedge vertex is at 3200 sats and could be hit only in September, so it is going to be a long summer for IOTA.
Trading volume is low when compared to its market cap neighbors with only $36.7 million and “Real 10” volume being $21.1 mil. What is good, though, is the volume overstatement is relatively low, there is 1.7x discrepancy between the reported and the “Real 10” volume (trading volume on the exchanges that prevent wash trading). This means that IOTA’s liquidity is slightly inflated which is not the case with the majority of other coins.
Moreover, IOTA comparatively has a solid buy support, according to coinmarketbook.cc. Buy support is measuring sum of buy orders at 10% distance from the highest bid price. This way we can eliminate fake buy walls and whale manipulation and see the real interest of the market in a certain coin. IOTA currently has meager $3.4m of buy orders measured with this method, which sets IOTA buy support/market cap ratio at 0.40% which is faintly above average value. Bitcoin and Ethereum have a 0.27% and 0.28% ratios, respectively. This novel metric indicates there are a lot of manipulations, inflated liquidity and fake orders on all crypto trading pairs, including IOTA pairs.
All social metrics marked a noticable bump due to the Jaguar Land Rover news. You can see a huge increase in news articles, Twitter and Telegram posts. Sources for the data are DataLight and Predicoin.
Mid May Update: Fundamentals
To assess fundamental health of a project, we used the FCAS metric. FCAS is a comparative metric whose score is derived from the interactivity between primary project lifecycle fundamentals: User Activity, Developer Behavior, and Market Maturity.
There are a few sub components which provide data to each fundamental:
User Activity is comprised of Project Utilization and Network Activity
Developer Behavior is comprised of Code Changes, Code Improvement and Community Involvement
Market Maturity is comprised of Liquidity and Market Risk. Market Maturity has less than 5% impact on a project’s overall FCAS.
FCAS ratings are on a 0-1000 point scale with a corresponding letter grade. Break points are based on standard deviations in the underlying component distributions.
900 – 1000 is marked as S for superb. 750 – 899 is marked as A for attractive. 650 – 749 is marked as B for basic. 500 – 649 is marked as C for caution. And finally, below 500 is marked as fragile. You can read more about it here.
IOTA got an average C mark with this evaluation model. C stands for caution so IOTA is not looking good under this methodology for value assessing.
Below are some of the most important news around the project in the last 30 days.
The IOTA Foundation (IF) has launched its first international IOTA academy program in close cooperation with the IOT1 Academy, a deep tech academy based in Berlin and Shanghai.
Coordicide, the effort of removing the Coordinator from the IOTA networks, is well under way in its research phase. One step in the journey towards Coordicide is making the inner workings of the current network set-up fully transparent with an open-sourced version of the Coordinator running on Mainnet.
Britain’s largest auto manufacturer announced yesterday that it has begun testing software that will allow drivers to be rewarded in cryptocurrency for sharing data. The Reuters report added that Jaguar Land Rover is developing a ‘smart wallet’ that will be installed into vehicles to enable crypto deposits. Drivers would be able to earn IOTA for sharing information such as traffic conditions, or potholes via automatic sensors connected navigation providers or local traffic authorities.
Below is our long-term forecast where we cover general market movements and sentiment shifts before delving deeper into the specific predictions for IOTA.
IOTA was started to provide distributed ledger technology for the machines and internet-of-things (IoT) space where small connected devices regularly share data.
Because these machines and devices are generally specialized to be low power and perform only specific functions IOTA does not use a traditional consensus mechanism like proof-of-work or proof-of-stake nor does it use a blockchain structure. It rather uses a different type of public ledger with a popular moniker “The Tangle”.
The goal of the project is to allow these devices to conduct micropayment transactions between themselves and potentially to securely transfer data. At the core of the project is what is referred to as the ‘Tangle,’ a directed acyclic graph (DAG) that acts as the public ledger system. The team believes that this structure will allow for feeless payments, lower compute cost, and the ability to connect to billions of devices.
Year in Review
IOTA expanded their team in 2018 with active talent acquisition, building an almost 100 man and woman army of researchers, developers, domain experts and ecosystem building enthusiasts.
IOTA’s holy grail is Coordicide – or the removal of the centralized server called coordinator that disqualifies IOTA as a decentralized ledger as long as it runs under a control of single entity (IOTA Foundation). Throughout 2018, IOTA have validated aspects of their earlier roadmap and come up with great improvements, but also started researching a potential breakthrough that if validated, would greatly accelerate the performance of Coo-less IOTA.
The IOTA Foundation officially signed an MOU with UNOPS. Through this collaboration, the IOTA Team will work with different units at UNOPS to increase transparency and efficiency, as well as safety and security for UN workers who are out on the field on a mission.
The IOTA and European Smart City Consortium +CityXChange received a green light from the EU Commission. The ENGIE Lab CRIGEN and the IOTA Foundation (IOTA) signed a Memorandum of Understanding to cooperate in experimentation with the IOTA Tangle in the Energy and related IoT domains.
The list of similar memorandums and partnerships is extensive and goes beyond the scope of this article.
READAs Moloch Receives Backing the Future of Funding Takes Shape
The IOTA Foundation established the legal framework and internal governance model for the IOTA Ecosystem Development Fund (EDF) and they also announced the formation of a Research Council.
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During the last year we could see, for example, the development of the Trinity wallet and although it is still in a Beta stage, we can use it without major worries. Trinity is undoubtedly much easier to use and has more user-friendly functions.
IOTA Roadmap for 2019
The Foundation already has plans in place to make community engagement on development, research and adoption a lot more interactive and open in the new year, starting almost immediately.
IOTA Roadmap is very detailed and transparent and you can scrutinize their plans on this link.
What does the Icon (ICX) future look like?
In short, Coordicide will be the buzz word of the year for IOTA community and the last update we had on this project was the creation of a testnet without Coo to prove that the network can work without the Coordinator. Thus we arrived at CLIRI which is a fork of IRI (IOTA Reference Implementation) in which all trace of the Coordinator was removed. CLIRI is a test therefore it is not ready to be tested in the main network. Anyone who wants to research the CLIRI function can do so in the following GitHub repository https://github.com/iotaledger/cliri
How to evaluate fundamentals of a crypto project
We should consider crypto valuations like educated gambling, a ‘prediction market’ where we are betting on the odds of project and token success. There are some catalysts of success we can identify:
Project success drivers (user traction, strong financial bottomline, good treasury management, network effects/synergies between users and token investors)
Real user traction is the most important driver of success, that is what most of holders call “adoption”. If people start using certain crypto project because they find it useful and it makes their life easier, that is a guarantee of success. So far, almost no crypto project can claim to have done so.
Strong financial warchest that will enable teams behind the project to develop their visions, incentivize other developers to join them and start using their product is also a crucial aspect of any project. Tied into it is treasury management – especially for the project that had big ICO proceeds. Temptation to squander all those millions into “conferences and events” (read hard-core partying on yachts and luxury hotels) was massive, especially if we consider that majority of token projects founders were no-names and ordinary employees that worked for a paycheck before the ICO fairy-tale happened to them.
Another adoption indicator – network effects, where every additional user of a good or service adds to the value of that product to others. When a network effect is present, the value of a product or service increases according to the number of others using it.
If you can objectively notice that your favorite token project has some of these traits happening for it, be happy – you might have found a winner.
Token success drivers (favourable demand-supply dynamics, programmable incentives on token, aligned incentives with management team and consensus on token as common unit of value creation).
Token success is completely dependent on tokenomics. As defined by infloat.co, tokenomics involves the incentivization of certain stakeholders to ensure particular behavior.
So, tokenomics is essentially an incentive structure designed to ensure that a token has a purpose and utility within its native network. It is the study of how coins/tokens work within the broader ecosystem that can be considered as a sovereign micro-economy. This includes such things like token distribution as well as how they can be used to incentivize positive behaviour in the network.
For example, bitcoin is designed to ensure that bitcoin miners have a reason to mine new bitcoin. Miners validate bitcoin transactions and receive (or create) newly minted bitcoin in the process.
On the other hand, individuals, businesses and other bitcoin users pay a transaction fee for miners to include their transaction in the next block. This ensures that even when all bitcoin have been minted (to the tune of 21 million, which should happen in around 2140), bitcoin miners are still incentivized to keep ‘mining’ (i.e. validating transactions).
To paraphrase all of the above in the simplest terms: if you, after weeks of research and reading, can’t figure out why the project needs to have a token, it probably doesn’t.
So why does the token exist then?
– To make the project founders rich.
But there are some people on Twitter, Reddit, Telegram claiming otherwise.
-Yes, they are either: paid to do so by those same founders, they are desperate and delusional bad holders or they are just stroking their own ego with newly learned fancy economic terms and jargon.
Needless to say – stay clear of such projects.
General Market Movements and Sentiment Shift
The downfall of altcoins that were mainstream media darlings at the start of the year, IOTA among them, can be attributed, in part, to novice investors getting scared off once the bear market kicked in with a vengeance. Every resurgence of bitcoin in recent period, was met with the, for the most part, inability of altcoins to rally with it. Reason for that can be rookie investors learning from their mistakes, while smart money that was previously watching from the sidelines has begun to enter into bitcoin.
These entities weren’t about to buy BTC when it was trading at an all-time high, but they’ll take a look now, having missed the boat the first time around. None of them, it seems, are interested in altcoins however, despite the fact that many are trading at a 5x discount. Institutional investors may be cautious, but they’re not foolish.
Some altcoins will continue to have some speculative value for the foreseeable future. But just like the now infamous tulips, the hysteria will eventually subside. We are already witnessing the first phases of that slide and even though most of the bag holders react emotionally to articles that criticize their coins, I am just observing the developments on the market. You better start emotionally detaching yourself from your “great sounding” coin because if goes nowhere, ideas are worthless without execution and real users that see value in the project.
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2018 was a very interesting year overall for the broader DLT community, “ICO projects” came and burst in a similar fashion to the firework that painted the evening sky tonight.
While the mass death of barely-alive-in-the-first-place projects causes some uncertainty and skepticism among the newcomers, it is something veterans and pioneers of this space have been longing for.
In order for DLT to become established, we need quality over quantity, we need convergence on standards and consolidation of communities to bring to life what we’ve been working on for years. With less noise, 2019 will act as a Darwinian selection mechanism, much like that of which the IT companies post-dotCom Bubble experienced.
This is a good thing and absolutely necessary for the real maturation of the space.
Our IOTA Price Prediction for 2019
IOTA, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, IOTA can hope for one as well. Since that is very unlikely, don’t expect much to change for IOTA price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.
What does Tron future look like? See our TRX Price Prediction 2019
The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.
When Bitcoin goes up swiftly, it will likely:
Suppress or depress altcoins as money flows into Bitcoin;
Or, take altcoins along for the ride
READBytecoin (BCN) Price Analysis and Prediction 2019: If Someone Offers You BCN, Hit Him With a Brick (Mid May Update)
In cases when Bitcoin plunges, it will likely:
Depress altcoins as money flows into fiat;
Or, cause altcoins to boom as money flows into them, but this is rarely the case.
When Bitcoin moves sideways, it will likely:
Cause altcoins to mimic that as traders wait for a clear sign on the direction of the market;
Or, cause altcoins to flourish as traders look for returns in altcoins and try to get favorable trades in terms of BTC pairs.
To summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.
IOTA-BTC Price Correlation
The vast majority of trading that occurs in the crypto markets are between BTC and altcoin trading pairs. Since most altcoins do not pair with fiat currencies (and only a few are paired with stable coins like USTD), Bitcoin is the next best option. Therefore, when Bitcoin is stable, it forms as the ideal base currency for buying altcoins (which is why altcoins tend to do well when Bitcoin goes sideways).
Correlation is measured on a scale from -1 to 1. Values above 0 shows the degree to which altcoin is moving in the same direction as BTC prices (either up or down in tandem), and values below 0 shows the degree to which altcoin moves in the opposite direction of BTC prices (so when BTC goes down, altcoin goes up, or vice versa). Values around 0 shows that when BTC price moves, altcoins stays steady, or alternatively that when altcoin moves up or down that the BTC price is staying steady.
Based on the correlation analysis, BTC and IOTA have a strong positive relationship. The correlation coefficient of their prices is 0.62, which was estimated based on the previous 100-days’ price dynamics of both coins. Source – coinpredictor.io
Overall, the price change of any altcoin token is explained by the dynamics of the bitcoin-influenced market. However, there are also fundamental reasons for the individual token rise and fall in price, which can be pinned down to a big tech upgrade or more often, big partnership.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
IOTA (MIOTA) Future Outlook
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will IOTA be among those 5%?
Highly likely it will.
Future of this world is data.And data is IOTA’s main target.IOTA targets IOT(Internet of Things). IOTA has even started data marketplace alongwith the partnership of Microsoft,Fujitsu, Bosch etc. You can check it here – The IOTA Data Marketplace.
IOTA now has not only many premium companies as official partners, but also two world renowned influential experts (Dr. Richard Soley and Dr. Rolf Werner) as members of their supervisory board.
But not all is bed of roses with IOTA. Tangle and IOTA approach to DLT is absolute cutting edge and highly experimental.
The team is, at times, pretty mullish in their decisions, like the one to use a balanced Ternarywhich is a numeral system that has 3 digits,-1, 0 and 1. Iota was made to be used with existing hardware, But all existing Hardware now is completely binary. This means that all of iotas internal ternary notation has to be encapsulated in binary, This will result in increased storage and computational overhead. Iota cannot be successfully implemented into the present hardware and even if it is it will cause a significant wastage of both storage and computation power.
Iota violates cryptography’s best practices i.e Don’t Roll Your Own Cryptoand this has resulted in a lot of vulnerabilities in the system and a team led by Neha Narula found many vulnerabilities in iota’s hash function curl and the one of iota’s co-founder (Sergey Ivancheglo) claimedthat they had deliberately added the flaws in the curl hash function as a ‘Copy Protection’. All of this summed up means one thing: IOTA might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Check out our Verge (XVG) Price Prediction for The Future
All of this summed up means one thing: IOTA might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect IOTA will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Market prediction for IOTA – MIOTA Price 2019
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the IOTA price, which will give us another point of view to consider:
Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies and traditionally has a skeptical outlook for most coins. According to them, IOTA is expected to drop heavily to $0.05 per token in one year.
Trading beasts display that IOTA can climb to around $0.75 within a year which means it will essentially grow 2.5x in value in the next year.
Cryptoground predicts that IOTA might eclipse the current level by almost 3x and reach $0.85 by the end of 2019. They even added their version of IOTA price prediction 2024, where they stated that IOTA might reach $5.18 by 2024, a 20x increase to the current price.
Digitalcoinprice gave a neutral prediction saying that by 2019 end, IOTA might be worth two times more than now – around $0.5 per token.
IOTA Future: 2020, 2023, 2025
IOTA Price Prediction 2020
IOTA (MIOTA) has been one of the most argued projects in cryptocurrency over the last year. However, unlike many other vaporware projects, IOTA team kept working on their network and the project seems to have a solid future, despite being disputed by most of the bitcoin maximalists. In 2020, once the market wipes out the worthless projects, IOTA might jump into spotlight and top 5 coins ranks which could see the IOTA token price go up to its all time high levels of $5.69 per coin.
IOTA Price Prediction 2023
If IOTA survives to see 2023, that would mean the project stood the test of time and user adoption is growing, which would all lead to the token being worth at least 10-100x than its hitherto all time high. That would mean BAT would cost $56-560 per coin.
IOTA Price Prediction 2025
Again, if IOTA survives to see 2025, that would mean the project stood the test of time and user adoption is growing, which would all lead to the token being worth at least 100x+ than its hitherto all time high. That would mean IOTA would cost $560+ per coin.
Realistic IOTA Price Prediction
Predicting prices of novel, highly volatile and risky asset classes is a thankless task – best answer is no one knows. Educated guess is that realistic IOTA price for the foreseeable future is somewhere between its current price and its all time high.
It has been a remarkable day for all of the cryptocurrencies, tokens, and assets on the market. Bitcoin’s surprising sudden uptrend has caused a lot of shifts to take note of. Perhaps the biggest development is how the Binance Coin price successfully claimed a new all-time high for the second time in three days. One has to wonder how long this momentum can remain in place, though.
A New Binance Coin All-time High
Prior to 2019, the BNB all-time high sat well below $25. That record was reached during the 2017 bull run which triggered a lot of excitement, yet also subsequent losses shortly after. Now that 2019 seems to be the year of price recovery, the Binance Coin price has reached several new all-time highs. The most recent one comes in the form of a temporary push to $30.14, albeit that level could not be sustained as of yet.
BNB/BTC Technical Analysis
Unlike most of the alternative markets, Binance Coin successfully managed to gain some value over Bitcoin. A very steep uptrend materialized yesterday afternoon, resulting in a peak near 0.004 BTC per BNB. As was somewhat to be expected, Bitcoin’s sudden bullish momentum near the same time trigger an equally steep BNB/BTC retrace to more normal levels.
Since that dip, there have been a few attempts at pushing the ratio higher again. Successful attempts saw a value of 0.0037 BTC, 00375 BTC, and 003725 BTC being reached without too many problems. Unfortunately for traders, every push upward has resulted in an equal retrace, for the most part. However, there are some positive developments to take note of as well, assuming this uptrend doesn’t collapse entirely.
A new “buy zone” has been created between 0.0034698 BTC and 0.0035991 BTC. Any price between those levels would confirm the uptrend is potentially reversing, although it could also serve as a juicy entry point for future gains. Other key support levels can be found at 0.0034698 and 0.0033451 BTC. Even the 0.0032998 BTC level can play a key role moving forward. Any of the price levels below those values are up for grabs all the way down to 0.0030094 BTC.
BNB/USD Technical Analysis
For those traders who prefer a BNB/USD pair, things are looking virtually identical. This massive outbreak in value has allowed the Binance Coin price to reach a peak of $32.32, although this was triggered by a wick with very little trading volume behind it. The more realistic top is closer to $30.04, or even $29.07 depending on how one values the uptrend which is currently in place.
Right now it would appear the $30.04 level will act as a strong resistance, as new attempts to break it have all been rejected so far. The price seems more keen to retest support at $28.01, although there is a chance the $29.01 level will become the new “bounce” over the next few hours. Further confirmation is needed to draw any real conclusions in this regard.
If the $28.018 level would not hold, further support can be found near $26.79 and $26.31. If things were to really collapse, the $25.49 level can come into play fairly soon. As the Bollinger bands show signs of tightening, the market can easily break out in either direction. Traders need to keep in mind this current uptrend may look very different tomorrow when most of the “normal trading” resumes.
Conflicting MACD Signals
It is not entirely uncommon for the MACD to indicate how a trend will look in a few hours. For Binance Coin, the MACD for BNB/USD shows signs of reserving rather hard. This uptrend has yielded an overbought territory which sits well above the more normal values. However, that doesn’t mean a bearish period will commence. There may be a minor dip to one of the other support levels as identified above.
Things are a bit different when it comes to the BNB/BTC ratio. It would appear the market shows signs of potentially retesting levels above 0.003794 Bitcoin in the coming hours. A healthy MACD bounce is often promising, albeit such trends can always be short-lived. For now, there are plenty of green candles on the daily chart, but one never knows what the remainder of today will bring.
XRP is considered as one of the most valuable assets in the crypto-verse in terms of scalability and transaction speeds. It stood third on the list of the world’s top cryptocurrencies, with a market cap of $15.97 billion. The 24-hour trading volume of XRP was $3.91 billion, with XRP being priced at $0.37, at press time.
On the other hand, Stellar Lumens’ market cap was $2.38 billion. The 24-hour trading volume of the token was $6.29 million and it was priced at $0.124. It stood ninth in the top-10 cryptocurrency list.
The one-day chart pictured two uptrends. The first uptrend was from $0.328 to $0.370and the second uptrend extended from $0.309 to $0.454. The resistance point stood at $0.455 and the support lines stood at $0.290 and $0.316.
The Bollinger Bands indicated high volatility rate in the market.
The Awesome Oscillator was showing a bullish buying opportunity as the short-term momentum was greater than the long-term momentum.
The Chaikin Money Flow indicator line was above the zero-line, indicating that the flow of capital into the XRP market was greater than the capital flowing out of it.
The one-day XLM chart showed a downtrend from $0.209 to $0.141. There were three resistance lines which stood at $0.205, $0.169 and $0.142. The graph also showed three support lines at $0.116, $0.087 and $0.075.
The Bollinger Bands were diverging and depicted high volatility in the XLM market.
The Awesome Oscillator indicated that the closing bar was green and pointed towards a bullish buying opportunity. Also, the short-term momentum was exceeding the long-term momentum.
Chaikin Money Flow indicator was above the zero-line, indicating that the flow of money into the XLM market was greater than the money flowing out of it. However, the CMF was falling.
XRP continued to trade positively, while XLM seemed to be losing its bullish momentum.