EOS Technical Analysis: Bears gain the power to pull down the cryptocurrency further

The bearish hit which led to the destruction of the crypto market looks very strong even after 2 weeks since it began. It can be noticed that most of the major digital assets have completely moved to the bearish zone. In the top 10 cryptocurrencies Bitcoin Cash [BCH], Cardano [ADA], Monero [XMR] have declined the most with up to 54% loss.
At the time of writing EOS is trading at $3.94 with a market cap of $3.5 billion. The cryptocurrency has seen a massive breakdown in the past week with a 26% decline in its value. It is also being noticed that EOS had touched the lowest point today since the beginning of 2018. The coin had dropped to $3.46 a few hours back, however, it is slowly gaining its momentum back with a hike of 2.21% in the past 1 hour.
1 hour:
EOS 1 hour chart | Source: TradingView
The 1-hour chart of EOS has a downtrend ranging from $5.31 – $4.6 – $4.07 with a resistance point fixed at $4.8. Though the cryptocurrency experienced an uptrend ranging from $4.2 – $4.5 earlier today, it has broken the support levels created at $4.2 and $3.6 and moved further downwards.
The Bollinger Bands demonstrate that EOS went through a price breakout a few hours ago. Right now the candlesticks are neither close to the upper band nor to the lower band. However, the expanded Bollinger bands depict that there is a high chance of volatility in EOS’ price in the coming hours.
In the Aroon Indicator, we can see that the Aroon Up line has touched the 0 level and moving sideways. The Aroon Down line is moving towards the 0 line at present, which can be considered as a positive sign for EOS traders and a trend reversal can be expected anytime soon.
The Klinger Oscillator has shown an insignificant bullish crossover with the reading line moving very close to signal line.
24 hour:
EOS 24-hour chart | Source: TradingView
The 1-day chart of EOS shows a completely bearish market for the cryptocurrency on a long run. In this timeline, EOS has a downtrend ranging from $14.99 – $5.3 – $4.5. The resistance points are at $10.50, $6.3 and $5.7.
The Parabolic SAR is clearly on the bearish end for EOS as the dotted lines are forming above the candlesticks and moving downwards along with them.
The MACD is also showing a negative trend in this timeframe. The moving average has taken a bearish crossover with the histogram forming red bars.
The Relative Strength Index [RSI] is currently moving below the oversold line indicating the selling pressure has increased in the market since mid-August when the cryptocurrency gained its momentum back and secured its position within the RSI zone.
Conclusion:
The short-term indicators are showing a highly volatile market in the future. However, the long-term indicators in this Technical Analysis are strongly in favor of a bearish market.
The post EOS Technical Analysis: Bears gain the power to pull down the cryptocurrency further appeared first on AMBCrypto.
Source: AMB Crypto

Cardano [ADA] tries to give a push back to the market crash with multiple developmental announcements

The bear attack has been quite the juggernaut with several cryptocurrencies seeing their supports break consistently. Cardano [ADA] which has felt the bear’s pressure too, has been on quite the developmental roll.
Just recently, Charles Hoskinson, the CEO and Founder of IOHK informed users about the upcoming 1.4 and Shelly update for the Cardano 1.4 network. Hoskinson had said:
“The update 1.4 for Cardano is coming along well and we’re in regression testing right now. We’ve had a few regressions but nothing significant is found yet and it’s a lot of new code. There has been a huge amount of refactoring on the core, and we’ve found new database solutions, so we’ve gone from lots of storage to little storage and become much more efficient.”
The computer scientist had also given his thoughts about the new appointees to the Cardano Foundation. Hoskinson’s comment comes in the wake of the appointment of Pascal Schmid as the interim Chairman of the Foundation Council. In Hoskinson’s words:
“What this means is that at the moment Pascal is the current custodian of the Foundation and will be in charge of the transition to reinvigorate and reconstruct the Foundation. There are a lot of things that have to be done between now and when the foundation can become effective as an entity.”
The IOHK official also stated that he would like to see IOHK and Emurgo working together and that might be a possibility in 60 days. He also added that it would be great to see diversity and community management with large grants and the hundreds of thousands of dollars being given to many different organizations. According to Hoskinson, these organizations can then be responsible for building Cardano communities all across the planet.
The post Cardano [ADA] tries to give a push back to the market crash with multiple developmental announcements appeared first on AMBCrypto.
Source: AMB Crypto

TransferWise Undermines the Potential Advantage of Blockchain Technology

CoinSpeaker

TransferWise Undermines the Potential Advantage of Blockchain Technology

Here’s a look into the myth of TransferWise regarding blockchain and why it is wrong into its belief.

TransferWise Undermines the Potential Advantage of Blockchain Technology

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Source: CoinSpeaker

Litecoin [LTC/USD] Technical Analysis: Bear market stays clear of finishing line

Litecoin [LTC] is one of the top-10 coins that was most affected by the bear market witnessed by the cryptocurrencies across the board. At press time, it had slumped 14%, trading at a depressed price of $33, with a market cap of $1.9 billion. The 24-hour trading volume was recorded at $618.3 million.
1-hour
LTCUSD 1-hour candlesticks | Souce: tradingview
In this timeline, the trendline is stretching from $48.15 to $42.35 [downward] and the support level is set at $31.45. The trendline is forming a descending triangle with the support line to depict the low nature of the market.
The Parabolic SAR is bearish on the price trend of Litecoin. Furthermore, the dots are aligned above the candlesticks to give a negative outlook on the case.
The Aroon Indicator is showing more strength in the downtrend as of now. The uptrend is weakening more with time and crashing in favor of the downtrend.
The MACD has made a bearish crossover by the signal line to depict a clear sign of the bear’s presence. The reading line is slumping further to confirm the stance.
1-day
LTCUSD 1-day candlesticks | Souce: tradingview
Similar to the above scenario, a downtrend can be observed in the one-day candlesticks as well wherein the trendline extending from $89 to $55 is forming a descending trend with the support set at $35.7. Moreover, an earlier support was set at $51 that was breached multiple times to finally dunk to the current level.
The Bollinger Bands are expanding to broaden the gap for prices to fluctuate. The volatility in the market was not high, but is predicted to increase as the bands diverge from the tunnel pattern.
The Chaikin Money Flow is extremely bearish on LTC at present. This can be observed as the reading line is crashing without any upturns to travel below the 0-line.
The Relative Vigor Index is also in tune with the above indicator to project a negative view on the market. The RVGI has made a bearish crossover by the signal and is traveling below to side with the bear.
Conclusion
In the technical analysis, the majority of indicators are predictive of a bearish run for the cryptocurrency. Therefore, it is a clear sign that the bear market has not ended as of yet. Furthermore, LTC may see a high level of volatility as predicted by the Bollinger Bands.
The post Litecoin [LTC/USD] Technical Analysis: Bear market stays clear of finishing line appeared first on AMBCrypto.
Source: AMB Crypto

USDX Wallet: a Solution for Effortless Crypto Transfers

CoinSpeaker

USDX Wallet: a Solution for Effortless Crypto Transfers

USDX Wallet, which enables multi-level security of transactions and instant transfers of assets via a phone number, is an efficient solution to conduct effortless crypto transfers. Its token sale is already live.

USDX Wallet: a Solution for Effortless Crypto Transfers

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Source: CoinSpeaker

US Election Commission Gives Green Light for Support of Favorite Candidates via Crypto Mining

CoinSpeaker

US Election Commission Gives Green Light for Support of Favorite Candidates via Crypto Mining

Under the FEC advisory opinion, it would be possible to support political campaigns by donating computer power to mine crypto for preferred candidates.

US Election Commission Gives Green Light for Support of Favorite Candidates via Crypto Mining

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Source: CoinSpeaker

India Ready to Announce Its Stance on Cryptocurrencies

CoinSpeaker

India Ready to Announce Its Stance on Cryptocurrencies

After years of ambiguity, the Indian government might finally reveal a regulatory draft for the cryptocurrency sector in the country before the turn of the year.

India Ready to Announce Its Stance on Cryptocurrencies

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Source: CoinSpeaker

XRP invictus amidst market crash; Binance CZ clears the air around base-pair buzz

The cryptocurrency market is currently experiencing one of the most brutal bear attacks, wherein all the big coins, such as Ethereum [ETH], Stellar Lumens [XLM], Litecoin [LTC], EOS, Cardano [ADA], Monero [XMR] and Tron [TRX] have slumped by more than 10%. Here, Bitcoin [BTC] also broke below $5,000 amidst the bloodbath witnessed by the market.
However, XRP, which is now the second-largest cryptocurrency in the world after surpassing Ethereum’s market cap is absorbing most of the damage and is only down by 4%. At press time, the coin was trading at a decent price of $0.49 with a market cap equivalent to $19.8 billion. The total 24-hour trading volume was observed to be $1.2 billion.
XRP 1-day price chart | Source: CoinMarketCap
Throughout the day, XRP underwent wild fluctuations. The lowest point that the token was traded at was $0.47. Post this slump, XRP showed much courage and returned to its game. Here, it took a flight and jumped back up to trade at $0.51 where its market cap was $20.2 billion. At present, the coin has maintained its momentum by setting a support line from $0.43 to $0.47.
XRP has also been in talks regarding being listed as a base pair on the leading cryptocurrency platform, Binance. Changpeng Zhao, the Founder and CEO of the platform recently tweeted the procedure for requesting the listing of a coin on Binance. Here, his tweet read:
“The xrp base shill is strong. Let’s get it out of your system, and put all your shills under this one tweet, and let’s see how much we get. “
C3|Nik, a blockchain follower and an XRP fan also wrote regarding the issue and said:
“.@cz_binance The 2nd biggest crypto asset by market cap is not offered as a base trading pair on @Binance
There is a good opportunity there to provide more value to your customers.”
Many also believe that Binance will be benefitted by adding XRP as a base pair because of Ripple’s cross-border payments product, xRapid that uses the cryptocurrency. Furthermore, this move by Binance is expected to add value to its customers and become an xRapid preferred platform.
The post XRP invictus amidst market crash; Binance CZ clears the air around base-pair buzz appeared first on AMBCrypto.
Source: AMB Crypto

EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions

Despite a bearish and sideways market, cryptocurrency transactions seem to be on the verge of reaching the previous all-time high. As per the data obtained from Blockchain center, the total on-chain transactions for all cryptocurrencies exceeded 522.119 million and the total number of active users for these transactions add up to 1.357 million.
Source: Blockchain Center
EOS has the most number of transactions as compared to any other cryptocurrencies, even exceeding that of Ethereum [ETH] and Tron [TRX]. The total transactions of EOS as of today is approximately 350.30 million. These transactions are coming from a total of 41,457 active addresses.
The transactions on EOS network peaked at 468.08 million in the second week of August 2018 and has since declined to 350 million. When compared to the big picture, EOS’ transactions are coming from a mere ~3% of the total active users.
Source: Blockchain Center
Tron follows EOS and has ~78.543 million transactions, which is the highest number of on-chain transactions that Tron blockchain has ever witnessed. As compared to EOS, the total number of active addresses for Tron are almost halved, i.e, 21,211.
Source: Blockchain Center
 
Bitcoin’s total transactions in the year 2018 peaked at 24.25 million in the second week of January 2018 and are currently hovering at 17.08 million, but Bitcoin’s total active addresses far exceed that of EOS’ or Tron’s, coming up to 681,779.
Source: Blockchain Center
Ethereum has a total of 33.27 million transactions as of November 11, which is contributed by a total of 247,671 active addresses. Ethereum’s on-chain transactions peaked at 71.48 million in the second week of January 2018 and have since declined.
Source: Blockchain Center
XRP’s transactions have come down to 17.99 million transactions, which are one-quarter of XRP’s peak number of transactions i.e., 72.05 million. The total active addresses as of today add up to 6,924.
Source: Blockchain Center
In conclusion, Tron and EOS together have about 4.5% of the total number of active addresses, while still contributing 82% of all the cryptocurrency transactions.
Bitcoin and Ethereum together contribute a mere ~9.5% of the total transactions but have a cumulative active address contribution of ~68%. EOS contributes up to 67% of the total number of transactions on the blockchain while Tron contributes to 15% of the total transactions. To sum it all up, EOS and TRX control 82% of all the transactions which come from only 4.5% active addresses.
A Reddit user tsMQ commented:
“If only 3% of active addresses is making that many transactions imagine when we hit 10% maybe 15% we will be blowing them out of the water for transactions per 24 hours and usage per user which is what we want, users using their coins/resources not just bag holding and watching the price drop.”
The post EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions appeared first on AMBCrypto.
Source: AMB Crypto

Monero [XMR/USD] Technical Analysis: Bear is here to stay for a longer duration

The whole cryptocurrency market has been in a bloodbath since the beginning of this year. The bear seems to have no mercy as it continues its rampage in the market, slashing double-digits of the majority of the cryptocurrencies.
The top-10 cryptocurrencies that were affected in the market include Ethereum [ETH], Litecoin [LTC], Stellar Lumens [XLM], and Monero [XMR], as all these coins plunged by more than 20% in the past seven days.
According to CoinMarketCap, at press time, Monero [XMR] was trading at $84.09, with a market cap of $1.39 billion. The cryptocurrency has a trading volume of $16.71 million and has plunged by 6.33% in the past 24 hours.
1-hour
Monero [XMR/USD] one-hour price chart | Source: Trading ViewIn the one-hour chart, the privacy coin demonstrates a downtrend from $106.53 to $91.18. The coin also pictures an uptrend from $82.19 to $87.60. Monero has an immediate resistance at $92.94. If the coin breaches this level, then there is a strong resistance level at $107.88. The coin has a strong support ground at $82.17.
Bollinger Bands have started to expand in the market, demonstrating that the market is going to be volatile for the cryptocurrency.
Parabolic SAR is showing that it prefers the bear’s rule in the market and wants the bear to be the king for a longer duration. This is because the dots are currently aligned above the candlesticks.
The Awesome Oscillator is demonstrating its allegiance to the bear as well, as the histogram has formed red lines.
1-day
Monero [XMR/USD] one-day pice chart | Source: Trading ViewIn the one-day chart, the cryptocurrency shows a downtrend from $212.87 to $114.07. It also shows that the coin has taken a further dip from $106.81 to $90.15. Monero has an uptrend from $84.20 to $101.77, followed by another uptrend from $101.77 to $105.45. The cryptocurrency has an immediate resistance at $124.50 and a strong resistance at $169.02. The coin is currently at its strong support level, i.e., $84.07.
RSI is also approving the rule of the bear as the coin is currently being oversold in the market.
MACD is also nodding to RSI’s decision as the moving average line is below the signal line.
Klinger Oscillator has also pledged its undying support to the bear as the reading line is below the signal line.
Conclusion
The cryptocurrency is going to be in the bear’s realm for a much longer duration. This is mainly because all the indicators have decided to side the bear, leaving the bull alone in the market.
The post Monero [XMR/USD] Technical Analysis: Bear is here to stay for a longer duration appeared first on AMBCrypto.
Source: AMB Crypto

Sorry Bitcoin, but Ripple’s XRP Сan Become Number 1 by Market Capitalization

CoinSpeaker

Sorry Bitcoin, but Ripple’s XRP Сan Become Number 1 by Market Capitalization

After last week’s sell-off the bitcoin price found support at around $5,500 but that has now eroded, with bitcoin falling some 3% over the last 24 hours to under $5,340—its lowest price since October last year. Is it a turn for XRP to become the first now?

Sorry Bitcoin, but Ripple’s XRP Сan Become Number 1 by Market Capitalization

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Source: CoinSpeaker

Crypto Exchange Binance can Make Ripple’s XRP Its Base Currency

CoinSpeaker

Crypto Exchange Binance can Make Ripple’s XRP Its Base Currency

Binance CEO Changpeng “CZ” Zhao took to Twitter on Sunday to send out a message to the XRP community regarding their constant talking of XRP as a base currency for the leading crypto exchange.

Crypto Exchange Binance can Make Ripple’s XRP Its Base Currency

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Source: CoinSpeaker

Bitcoin.com Mining Pool Provides All Hash Power to Secure the Bitcoin Cash ABC Network

CoinSpeaker

Bitcoin.com Mining Pool Provides All Hash Power to Secure the Bitcoin Cash ABC Network

Recent Bitcoin Cash hard fork split the whole crypto community into two warring camps trying to gain the dominance over the hash power of the network. Bitcoin.com mining pool chose ABC side providing all of its hash power in support for mining the altcoin.

Bitcoin.com Mining Pool Provides All Hash Power to Secure the Bitcoin Cash ABC Network

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Source: CoinSpeaker

Litecoin [LTC] suffers 6% price slip as markets go on a downward spiral

Litecoin [LTC] has slumped 6.18% in the 24-hour time frame, as most cryptocurrencies suffered a strong attack from the bear over the last week. The cryptocurrency market, in general, has been sliding downwards ever since the start of 2018, and it doesn’t come as a shock to see Litecoin and other dominant cryptocurrencies like Bitcoin [BTC], and Ethereum [ETH] falling down as well.
Litecoin, which was trading at $42.68 earlier, has slumped down 6.18% and was trading at a depreciated price of $39.99 at the time of writing. The market cap of Litecoin also fell down by $160 million and is currently at $2.36 billion.
As seen on the one-day chart, the price of Litecoin on November 18 pretty much stayed the same and moved sideways.
The price of Litecoin, which started trading at $42.68, took a steep downward slump at 06:34 UTC on November 19, bringing the prices down to $41.20.
Source: CoinMarketCap
On the seven-day time frame, the prices seem to have suffered a much more traumatic experience as compared to the one-day time frame. Litecoin was trading at $51.22 on November 12, until the ground below the prices collapsed, causing the prices to dip, first to $41.92, then to $40.78.
Source: CoinMarketCap
The total trading volume for Litecoin was $372.29 million and most of it came from Coinbit, which contributed 37.06% of the total trading volume i.e., $248.80 million. Coinbit is a Korean exchange and the volume comes from the trading pair LTC/KRW.
DOBI Trade follows Coinbit and contributes 13.12% of the trading volume. The total trading volume was contributed by LTC/BTC pairing.
The post Litecoin [LTC] suffers 6% price slip as markets go on a downward spiral appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Cash ABC’s hash burst was rented from Bitcoin [BTC] network, says nChain’s CEO

Jimmy Nguyen, the CEO of nChain, recently spoke about the truth and consequences of Bitcoin Cash [BCH] hash war between the miners voting between Bitcoin Cash SV and Bitcoin Cash ABC. He began the talk by stating that the hash burst which took place in the network from Bitcoin Cash ABC’s side was rented or subsidized from the BTC network.
This, according to him, was done ‘in order to artificially boost the support for Bitcoin Cash ABC far higher than it had ever been in the days and weeks leading up to the hard fork’.
Jimmy further explained why nChain did not bring more hash to support Bitcoin Cash SV. Though the team had access to thousands of petahash worth of support for Bitcoin Cash SV, they decided not to go with it to avoid the consequences it would have in the future for the Bitcoin Cash community.
According to him, it is hypocrisy to move hash for a day or two from the rival network that most of the community do not like, and use that to claim victory. Jimmy said:
“The whole reason that such hash was available on the BTC network to move onto BCH is because the people who should have fought Bitcoin Core did not, and splintered off to create the Bitcoin Cash network, and allowed BTC to continue on. That’s perfectly fine. But now they’re borrowing hash, renting it, subsidizing it from the very network they so vehemently oppose many of them to try and claim a victory on the BCH network.”
It is important to think about the governing model when there are disagreements. When the Nakamoto Consensus was written in the Bitcoin whitepaper, there was supposed to be only one Bitcoin network. Bitcoin Network has its magic in its economic incentives. Currently, the Nakamoto Consensus is being tested for the first time, he added.
Jimmy said:
“Satoshi Nakamoto could not have envisioned, at the time the white paper was written, that there was going to be some splintered-off network using the same hash algorithm. And with the idea of one CPU equals one vote, or miner hash power equals the vote, it was designed.”
He also said:
“I’m sure most logical people can agree with it to recognize that the people who have an ongoing continuous invested interest in the network are the ones that should vote on a rule set.”
The ABC supporters have been very quick to declare that they are the winners in this hash was by moving BTC hash by Bitmain and other sources. However, nChain’s Craig Wright and Coingeek’s Calvin Ayre is taking an alternate path to achieve genuine and legitimate sustained hash that supports the network, said Jimmy Nguyen.
He added:
“And that is why, if you notice, over the days leading up to the hard fork., the CoinGeek, SVPool, and BMG pools started gradually increasing the hash they were devoting to the network.”
The post Bitcoin Cash ABC’s hash burst was rented from Bitcoin [BTC] network, says nChain’s CEO appeared first on AMBCrypto.
Source: AMB Crypto