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Ethereum (ETH), Binance Coin (BNB) and EOS Crypto Analysis And Forecast

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ETH/USD

ETH

A bullish outlook is seen in the last 24hrs, this is confirmed by the moving averages which are moving side by side in an upward direction. The 7-day MA is seen above the 21day MA indicating bullish momentum. ETH/USD pairs started trading $231.55 (A). This was followed by a period of consolidation resulting in price rally moving in a sideways manner A to B.

The RSI is seen above 70 around X, V and Z indicating overbought market at those periods of time. Later on, the bulls manage to push the price a bit up to close at $239.28 (B) which was followed by a period of consolidation once again indicating luck of price momentum due to indecision in the market.

A three inside up Candlestick pattern appeared later on showing that the bulls rally and overtake the bears and pushed the price further up at (C) to close at $264.13. This placed resistance level at $268.09 and support level at $251.65. Resistance level was breached while the support level was tested severally. ETH is currently trading at $262.42; this shows that the price of ETH has increased thus increase sellouts is observed over the last 24hrs.

FORECAST

The 7-day MA is seen to have bent down during the last few hours this might indicate that the trend is coming to an end. The RSI is seen below 70 during the last few hours thus confirming a downtrend in the next few hours. New support should be set at around $254.50.

EOS/USD

EOS

EOS/USD pair started the day trading at $6.0808 (A). Luck of market momentum is seen from A to B, but the bulls are seemed to be on the upper hand.

The RSI is seen above 70 at X indicating that the asset was overbought at that period of time. Later on, at (B) buyers drove the price further up to a high of $8.2000 but they encounter selling pressure that drove the price back down, for the period to close near to where they open (C).

Resistance level (R) is placed at $6.7344 and support level (S) is placed at $6.5256, resistance and support level was breached and tested severally. This was followed by a bearish rally where traders pushed the price further down to close at $6.2400 thus, the current price.

FORECAST

The 21-day MA is seen to be crossing over the 7 day MA during the last hour, this indicates a bearish signal. The RSI is heading north at (Z) showing that a downtrend is likely to continue in the next few hours. New target should be placed at $6.0808 and stop-loss may be put into place slightly below or above the target before a breakout or a breakdown occurs.

BNB/USD

BNB

A bullish outlook is seen in the last 24hrs, the bulls are seemed to be up on their game. The day began with a bearish price rally where BNB started trading at $25.19190. The bulls, later on, managed to push the price up to close at $27.09166; this was signaled by the RSI (V) which was seen above 70 indicating an overbought market.

At that period of time indecision in the market was encountered for about 4hrs thus placed resistance level (R) at $26.96501. Traders later pushed the price down, placing support level (S) at $26.24737.

Resistance and support level was also tested and breached severally. During the last 3hrs the 21-day MA is seen to be above the 7 day MA indicating a bearish signal, this was followed by sellers pushing the price rally further down past support to a low of $25.17782. BNB is currently trading at $25.59308, this shows an increase in price thus increase sellouts.

FORECAST

The presence of a reversal pattern during the last hour signals bullish momentum. The RSI is also heading north, indicating an upward price rally in the next few hours. New target should be placed at $25.29040 while stop-loss should be set above support in case of a breakout.

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Cryptocurrencies

Nasdaq adds DeFi cryptocurrency index including Augur, MakerDAO, 0x

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Nasdaq is adding a new index that is dedicated to blockchain projects in decentralized finance, featuring major cryptocurrencies such as Augur, Maker, and 0x.

EXANTE, a European investment services firm that was established in 2011 to offer global multi-asset financial services, partnered with the stock exchange operator Nasdaq to offer the Decentralized Finance Index (DeFix).

DeFix is the first index that reflects the real-time dynamics of six decentralized finance solutions, including Augur, Gnosis, Amoveo, Numerai, Maker, and 0x. It offers investors an opportunity to speculate in a collection of platforms that have the potential to disrupt the financial industry. 

The index is going to be listed by Nasdaq under the ticker DEFX and it is already available to for tracking on the Nasdaq Global Index Data ServiceSM (GIDS) as well as other financial platforms such as TradingView and Google. Meanwhile, Yahoo Finance plans to list it in the near future. 

This is not the first time Nasdaq is listing crypto-related indexes. In February, the U.S. stock exchange, through its data dissemination relationship with Brave New Coin, added indices for Bitcoin and Ethereum, the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX). 

Later on, it included the XRP Liquid Index (XRPLX) to provide a real-time data for the price of 1 XRP, quoted in USD. Finally, Nasdaq’s Quandl platform announced a partnership with CryptoCompare to provide aggregate index datasets with up-to-date pricing data for the “most liquid” cryptocurrency markets.   

Charles Hayter, co-founder and CEO at CryptoCompare, welcomed the association by stating that:

“WE ARE DELIGHTED TO PARTNER WITH NASDAQ ON A JOINT AGGREGATE CRYPTO REFERENCE PRICES PRODUCT. RELIABLE DATA IS THE BEDROCK OF TRANSPARENT, LIQUID MARKETS AND BY BRINGING OUR HIGH QUALITY, GRANULAR DATASET TO A GLOBAL INSTITUTIONAL CLIENT BASE, VIA THE QUANDL PLATFORM, WE WILL GIVE TRADERS AND INVESTORS A COMPETITIVE EDGE.”

Although cryptocurrencies aren’t tradeable on the Nasdaq at the moment, other established financial institutions are reportedly building cryptocurrency trading platforms.

Fidelity Investments, for instance, is launching a cryptocurrency trading service through Fidelity Digital Assets, according to a Bloomberg report. Bakkt, a subsidiary of the Intercontinental Exchange (ICE), which owns the New York Stock Exchange, is set to deploy the first physically-settled Bitcoin futures contracts in the market in the next two weeks.

Overall, it seems like cryptocurrency instruments are finally coming to the masses.

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Filed Under: U.S., Altcoins, DeFi, Trading

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After Ali began forex trading in 2012 In 2014, he came across Bitcoin’s whitepaper and was so fascinated by the idea of a decentralized, borderless, and censorship-resistant currency that he started buying Bitcoin. By 2015, he started traveling to spread the word about Bitcoin.

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Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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New Decentralized Fiat-to-Crypto Gateway Launches on Ethereum Blockchain for Visa and Mastercard Users

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A decentralized cryptocurrency exchange developed on the Ethereum blockchain by the creators of the Kyber Network is launching one of the first non-custodial fiat-to-crypto gateways.

KyberSwap is being introduced through a partnership with Coindirect, a Hong Kong-based  crypto payment service provider backed by MakerDAO. The goal is to help anyone buy crypto with fiat more easily, with low fees of 3.5% by using Visa and Mastercard debit or credit cards.

According to the announcement, KyberSwap supports trading with Ether (ETH) and ERC20 compliant tokens, and is designed to be a fast, simple and secure DEX (decentralized exchange) for anyone, including totally new crypto users.

Key features

  • Fiat to crypto on-ramp
  • Fully on-chain token swaps
  • Non-custodial Limit Orders
  • iOS and Android mobile apps
  • Straightforward UI/UX

KyberSwap expects the new platform to spur adoption by eliminating complex KYC for small amounts and enabling the crypto curious.

Imagine a curious user who wants to try DApps on Ethereum, and would like to start by buying a small amount e.g. 20 Euro worth of ETH. There aren’t many fast and convenient ways to do so. Coindirect allows small purchases of crypto, with just basic credit card information. Once the user is comfortable with crypto purchases and wants to increase his trade limit (~3000 Euro per day) and get even lower fees, he has the option to furnish more personal details.”

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Cryptocurrencies price prediction: Bitcoin, Ripple & NEO – European Wrap

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Bitcoin is trading below the opening price ($10,158) on Thursday. The bulls initially extended the leg above $10,200 resistance before a reversal swept in at $10,205.70). The chart I analyzed earlier today shows regression having been stopped slightly above $9,800 on Wednesday. The almost immediate bounce above $10,000 was supported by the ascending trendline further encouraging the buyers to regain control.

fxsoriginal

Ripple’s XRP, the third-largest digital asset with the current market capitalization of $10.8 billion, has recovered from the intraday low of $0.2211 and settled at $0.2530 by the time of writing. Despite the recovery, XRP/USD stays down 1.4% on a day-on-day basis.

Ripple

NEO has been sidelined below $9.00 handle. The 20th largest digital asset with the current market value of $628 million has gained nearly 2% since the beginning of the day and stayed unchanged on a day-on-day basis. NEO is most actively traded at Bitfinex against USDT. From the longer-term perspective, the coin peaked at $24.04 on June 26 and has been moving within a downside trend ever since

NEO

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