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

Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency cries for help as bear continues to destroy price supports

The bear has not been kind to the cryptocurrency market with almost all the coins bleeding red. Bitcoin [BTC], which was speculated to hit highs of $25,000, has gone ahead and fallen below the $5,000 mark, a crash that has sent the entire cryptoverse into a frenzy.
1-hour

The one-hour chart for Bitcoin [BTC] shows a drastic price drop. The support breaks have been quite rapid, with multiple supports breaking one after the other. The new support, at the moment, is at $4499.8 while the immediate resistance is holding at $6,474.6. The downtrends on the chart have been quite visible, with the cryptocurrency falling from $6,474 to $5,673.1, and then falling to $4,615.4.
The Chaikin Money Flow [CMF] indicator has crashed into the bear realm, which indicates that the money flowing out of the market is greater than the inflow.
The Relative Strength Index [RSI] has just begun its trip into the RSI zone after breaking the oversold barrier. This shows that the selling pressure is more than the buying pressure.
1-day

The one-day Bitcoin graph paints a bearish picture all throughout. The indicators too have taken the side of the bear. The current one-day support is at $4,616.8 with the downtrend bringing the price down in two phases: $8,193-$6,493.4 and $6,493.43 -$4,621.
The Bollinger bands indicate the start of a massive price outbreak tending towards the bear zone. The upper band and the lower band have both taken sharp turns in the opposite directions, signifying the price drop to continue for more time.
The MACD indicator shows the signal line and the MACD line falling in tandem after a bearish crossover. The MACD histogram has been flat for a long time with the bearish graph taking over.
Conclusion
Bitcoin’s misery looks to continue for a longer period of time with the prices free-falling beyond expectations. The indicators show that a trend change does not seem to be around the corner,  with the bear currently speeding in the driver’s seat.
The post Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency cries for help as bear continues to destroy price supports appeared first on AMBCrypto.
Source: AMB Crypto

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

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.”
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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

Ethereum Plunges 12%: Will ICOs Continue to Drag ETH Down?

Bears hit the cryptocurrency market today, and Ethereum was among the most severe casualties.
The world’s third largest cryptocurrency erased as much as $2.25 billion from its market cap. Meanwhile, its value plunged 12 percent from an intraday high at $177 to $155.60 – its new intraday low – within a few hours, according to aggregated data available at CoinMarketCap.com. Aayush Jindal, a crypto market analyst at NewsBTC, predicted further declines in the Ether-to-dollar market, citing a critical bearish trendline that is capping every upside attempt of the digital currency.
SOURCE: COINMARKETCAP.COM
“There is a key connecting bearish trend line formed with resistance at $178 on the hourly chart of ETH/USD,” he forecasted.
ICOs Likely to Intensify Selling Action
A report coming at the behest of Diar, a daily crypto newsletter, also found strong bearish catalysts that point to an extended selling action in the Ethereum market. The study based its bearish prediction on the possibility of the leading ICO projects liquidating their ETH holdings.
“Some of the most popular and anticipated projects, most of which have yet to launch, are sitting on treasuries north of $500Mn. That’s excluding their cash on hand, as well as their own token reserves,” Diar research found.
Larry Cermak, head analyst at Diar, believed that these decentralized applications project would become unprofitable. Meanwhile, they will continue shorting Ether to cover their expenses against the lower market demand. The imbalance will prove bearish to the Ethereum market, overall.
“Obviously, a lot of the ICO companies will continue selling ETH to cover operating expenses and to fund their businesses,” Cermak said in a tweet. “It’s important to realize that the majority of these projects isn’t generating any revenue. And most likely never will.”
Demand to Drive Ether Bulls
The Diar analysis offered its predictions based on how ICO projects would behave with their Ether holdings. It provided a more straightforward view of the projects that reportedly holds roughly 3.7% of the total Ether coins in circulation. While the likelihood of ICO project selling their entire holdings is high, the same cannot be predicted on the demand side which keeps fluctuating.
Retail investors, hedge funds and every other speculator could keep looking at Ether as an investable asset, similar to Bitcoin. On the other hand, blockchain projects could create network effects for their platform growth and use Ether as money or store-of-value.
Then, scalability should continue to challenge the Ethereum network and hamper its adoption rate at a larger scale. Other projects are also developing in the blockchain space to circumvent Ethereum’s shortcomings but even they are facing challenges over some factors related to feasibility – and even decentralization.
In a near-term scenario, the Ethereum market should act on the whims of speculative investors. That means, an extended selling action should establish a new bottom and retrace its steps to find an equally crucial resistance – just like Bitcoin.
The post Ethereum Plunges 12%: Will ICOs Continue to Drag ETH Down? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Price Watch: BTC Targets Fresh Lows Below $5,200, Market Gloomy

Key Points

Bitcoin price is currently under pressure below the $5,500 resistance level against the US Dollar.
There was a break below a key bullish trend line with support at $5,530 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is declining and it seems like it could break the $5,230 and $5,200 support levels.

Bitcoin price is moving lower towards the last low against the US Dollar. BTC/USD could accelerate declines below if there is a break below the $5,200 support.
Bitcoin Price Analysis
The past few hours were pretty bearish because bitcoin price was rejected near $5,600 against the US Dollar. The BTC/USD pair started a fresh decline and traded below the $5,550 and $5,500 support levels. There was even a break below the $5,400 support and the 100 hourly simple moving average. It opened the doors for more losses towards the $5,230 and $5,200 levels.
During the slide, there was a break below a key bullish trend line with support at $5,530 on the hourly chart of the BTC/USD pair. Later, the price traded below the $5,350 support and the 1.236 Fib extension level of the recent wave from the $5,414 low to $5,700 swing high. The current price action is super bearish and it seems like the price could even break the $5,206 low. An immediate support is $5,230 and the 1.618 Fib extension level of the recent wave from the $5,414 low to $5,700 swing high. If there are more losses, the price could even trade below the $5,200 support.

Looking at the chart, bitcoin price is at a risk of a downside break below the $5,200 and $5,150 levels. There are even chances of a test of the $5,000 handle in the near term.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is well below the 30 level.
Major Support Level – $5,200
Major Resistance Level – $5,500
The post Bitcoin Price Watch: BTC Targets Fresh Lows Below $5,200, Market Gloomy appeared first on NewsBTC.
Source: New feedNewsBTC.com

Cardano Price Analysis: ADA/USD Accelerating Losses Below $0.060

Key Highlights

ADA price extended losses below the $0.0620 and $0.0600 support levels against the US Dollar (tethered).
There was a break below a connecting bullish trend line with support at $0.0614 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
The pair is currently trading well below $0.0600 and it could continue to move down in the near term.

Cardano price fell significantly recently against the US Dollar and Bitcoin. ADA/USD is likely to decline further towards the $0.0530 level.
Cardano Price Analysis
In the last analysis, we discussed that cardano price could extend losses below $0.0620 against the US Dollar. The ADA/USD pair did decline recently and traded below the $0.0620 and $0.0600 support levels. There was even a close below the $0.0600 support and the 100 hourly simple moving average. The last swing high was formed near $0.0640 from where the price started a solid decline.
During the drop, there was a break below a connecting bullish trend line with support at $0.0614 on the hourly chart of the ADA/USD pair. More importantly, the price traded below the last swing low of $0.0579. The next support is at $0.0560, which is the 1.236 Fibonacci extension level of the last wave from the $0.0579 low to $0.0649 high. The current price action is super bearish below $0.060. Thus, there are high chances of more losses towards the $0.0535 level. It represents the 1.618 Fibonacci extension level of the last wave from the $0.0579 low to $0.0649 high.

The chart indicates that ADA price settled below a few key support at $0.0600 and the 100 hourly SMA. To recover, the price must climb above $0.0600, $0.06200. If buyers fail to gain traction, the price will most likely slide below $0.0550 in the near term.
Hourly MACD – The MACD for ADA/USD is gaining strength in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently below the 30 level.
Major Support Level – $0.0550
Major Resistance Level – $0.0620
The post Cardano Price Analysis: ADA/USD Accelerating Losses Below $0.060 appeared first on NewsBTC.
Source: New feedNewsBTC.com

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.
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Source: AMB Crypto

Ripple Price Analysis: XRP/USD Could Gain Momentum Above $0.50

Key Highlights

Ripple price is holding gains above the $0.4700 support level against the US dollar.
There is a key bullish trend line formed with support at $0.4800 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is likely to accelerate gains once there is a break above the $0.5000 and $0.5180 levels.

Ripple price is trading in a bullish zone against the US Dollar and Bitcoin. XRP/USD remains well supported on the downside near the $0.4800 level.
Ripple Price Analysis
Recently, there was a decent support base formed near the $0.4500 level in ripple price against the US Dollar. The XRP/USD pair traded higher and broke the $0.4800 and $0.5000 resistance levels. There was even a close above the $0.4800 level and the 100 hourly simple moving average. Buyers pushed the price above the $0.5100 level, which is a positive sign. A high was formed at $0.5183 and later the price started a downside correction.
It declined below $0.5000 and the 23.6% Fib retracement level of the last wave from the $0.5480 low to $0.5183 high. However, there are many supports on the downside near the $0.4820 and $0.4800 levels. More importantly, there is a key bullish trend line formed with support at $0.4800 on the hourly chart of the XRP/USD pair. The trend line support is close to the 100 hourly SMA at $0.4760. Besides, the 61.8% Fib retracement level of the last wave from the $0.5480 low to $0.5183 high is near $0.4810. Therefore, as long as the price is above the $0.4800 support and the 100 hourly SMA, there could be more gains in the near term.

Looking at the chart, ripple price must break the $0.5000 and $0.5120 level to start a fresh bullish wave. The next major resistance is at $0.5250 and $0.5275.
Looking at the technical indicators:
Hourly MACD – The MACD for XRP/USD is slightly in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is just below the 50 level.
Major Support Level – $0.4800
Major Resistance Level – $0.5120
The post Ripple Price Analysis: XRP/USD Could Gain Momentum Above $0.50 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Price Weekly Analysis: Sell Rallies In BTC/USD Near $5,880

Key Points

Bitcoin price declined heavily and traded close to the $5,200 support level against the US Dollar.
There is a short term consolidation pattern formed with resistance at $5,550 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could correct higher towards $5,750 or $5,880, but upsides are likely to be contained.

Bitcoin price settled below key supports against the US Dollar. BTC/USD may recover in the short term, but sellers remain in control around $5,880.
Bitcoin Price Analysis
This past week, we saw a nasty decline from the $6,300 swing high in bitcoin price against the US Dollar. The BTC/USD pair collapsed below the $6,000 and $5,800 support levels to enter a bearish zone. The price even settled below the $5,800 level and the 100 simple moving average (4-hours). It traded close to the $5,200 level and formed a new yearly low at $5,206. Later, the price started an upside correction and recovered above the $5,400 and $5,500 levels.
Buyers pushed the price above the 23.6% Fib retracement level of the recent decline from the $6,304 high to $5,206 low. However, the $5,550 and $5,600 levels are currently acting as hurdles. Moreover, there is a short term consolidation pattern formed with resistance at $5,550 on the 4-hours chart of the BTC/USD pair. It seems like the price may break the $5,550 and $5,600 resistances to extend the current recovery. However, there are many barriers on the upside near $5,750 and $5,880. Besides, the 61.8% Fib retracement level of the recent decline from the $6,304 high to $5,206 low is at $5,880 to act as a solid hurdle.

Looking at the chart, BTC price may correct higher towards $5,750 or $5,880, but it is likely to face a strong selling interest.
Looking at the technical indicators:
4-hours MACD – The MACD for BTC/USD is back in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is currently recovering above the 30 level.
Major Support Level – $5,200
Major Resistance Level – $5,880
The post Bitcoin Price Weekly Analysis: Sell Rallies In BTC/USD Near $5,880 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Cardano [ADA/USD] Technical Analysis: Cryptocurrency price falls to yearly low as bear continues to enjoy its spoils

The bear attack has not been pretty to watch with several cryptocurrencies crumbling under the pressure. Even popular cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH] and Cardano [ADA] were not spared from the ruthless attack, with some coins even breaking their price supports.
1-hour

The one-hour chart shows Cardano’s [ADA] price moving sideways after a freefall from the top. The downtrend saw the price drop from $0.0743 to $0.061. The support was broken recently, with the price falling to its yearly low of $0.0581. The resistance has been holding at $0.0824.
The Bollinger band has undergone a slight divergence, with the size of the Bollinger cloud increasing, indicating multiple trend changes.
The Chaikin Money Flow has taken a hairpin turn towards the zone of the graph, which is a sign of the money outflow increasing. The indicator staying above the axis shows that ADA is reaching out to the bull’s realm.
1-day

The Cardano one-day chart shows the grave situation of the cryptocurrency falling to its lowest value in over a year. The new support right now is at $0.061, with the downtrend taking the coin falling from $0.174 to $0.061.
The MACD indicator points to the signal line moving downwards while the MACD line has become one with the axis. The bear maul has also affected the MACD histogram, almost making it tend to zero.
The Awesome Oscillator has reflected the bear attack, with the market momentum almost negligible now.
Conclusion
The support break has done Cardano no favors with the AO, CMF and the MACD all pointing to a continued bear run.
The post Cardano [ADA/USD] Technical Analysis: Cryptocurrency price falls to yearly low as bear continues to enjoy its spoils appeared first on AMBCrypto.
Source: AMB Crypto

Lightning Network’s capacity increase by 167% in a month; Network’s collective capacity is now worth $1.64 billion

Lightning Network has gained widespread adoption as the number of nodes on the network have reached 4,073 and the total network capacity [at the time of writing] has reached $1.64 million [281.07 BTC].
As per the data obtained from 1ML, the total number nodes currently up and running on Lightning Network have reached 4,073, which is the highest since its inception. Off the 4,073 nodes, 2,947 are public nodes and the total number of channels created for these existing nodes altogether is at a staggering 12,511 with an average of 12.6 channels per node.
This is an important milestone for Lightning Network because as per the statistics it can be inferred that the Lightning Network holds a total of $1.64 million worth of Bitcoin. The network capacity has increased by a massive 167% in the past 30 days.
To make matters more interesting, this growth of Lightning Network was seen in the past four months [138 days]. Considering that Lightning Network was introduced only a year and a half back this is an exponential increase in the adoption of the network.
Lightning Network is a process of transacting and settling payments off-chain so as to reduce the transaction times and drastically lower transaction fees. Lightning Network is a”second layer” payment protocol that operates most commonly on Bitcoin. It creates nodes between transacting parties to make the payments faster. Lightning Network was introduced to solve Bitcoin’s scalability problems.
A Twitter user @DRIVEMarkets tweeted:
“Lightning network growth has exploded in the last week. Over 224 BTC is now held on Lightning Network channels.  From $649,000 to over $1.2 million in under 5 days.”
Source: Twitter
It must be noted that statistics from 1ML are aggregated and calculated from multiple nodes within the Lightning Network. Due to the decentralized nature of the Lightning Network, the numbers observed are approximations and nodes that don’t broadcast their state are not included.
The post Lightning Network’s capacity increase by 167% in a month; Network’s collective capacity is now worth $1.64 billion appeared first on AMBCrypto.
Source: AMB Crypto

Monero [XMR/USD] Technical Analysis: Bear continues to lead the market

The whole cryptocurrency market was massacred by the bear’s attack earlier this week. All the top cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], and Litecoin [LTC] bled double digits in the market. Nonetheless, the market is trying to recover from the attack by sprinkling green on some coins.
Monero, [XMR], the tenth-biggest cryptocurrency by market cap, had also hoped on to the bandwagon of crushing the investors. According to CoinMarketCap, at press time, the famous privacy coin was trading at $86.43, with a market cap of $1.43 billion. The cryptocurrency had a trading volume of $16.32 million and had plunged by 2.05%.
1-hour
Monero [XMR/USD] one-hour price chart | Source: Trading ViewIn the one-hour chart, the cryptocurrency shows a downtrend from $106.53 to $87.37 and an uptrend from $82.19 to $87.17. The coin demonstrates that there is an immediate resistance at $90.26 and a strong resistance at $95.11. The chart also shows that the coin has gained a strong support at $82.16 level.
Bollinger bands are currently contracting as the market is less volatile and a massive price action is highly unlikely to occur.
Parabolic SAR shows a bearish trend as the dots have aligned on top of the candlesticks.
Chaikin Money Flow also pictures a bear’s rule. This is because the CMF line is below the zero line, depicting that the money is flowing out of the market.
1-day
Monero [XMR/USD] one-day price chart | Source: Trading ViewIn the one-day chart, the cryptocurrency shows a downtrend from $292.71 to $114.07. Additionally, the price fell further from $106.81 to $90.25. The chart also shows that there is an uptrend from $84.20 to $101.77 and from $1o1.77 to $1o5.45.
The coin has to first breach the immediate resistance at $114.17 in order to get to the strong resistance, which is currently set at $147.56. The coin has a strong support at the $84.11 ground.
Klinger Oscillator indicates that the coin is going to be in the bear’s grip as the reading line was below the signal line, showing no signs of recovery.
MACD is also showing that the bear has no intention of letting the coin loose as the moving average line was well-below the signal line.
RSI is in complete agreement with both MACD and Klinger Oscillator as the indicator demonstrates that the selling pressure is currently more than the buying pressure. Nonetheless, a trend break-out could occur soon.
Conclusion
The market is currently in favor of the bear as the carnivores mammal has the support of the Parabolic SAR and the CMF from the one-hour chart and all the indicators from the one-day chart.
The post Monero [XMR/USD] Technical Analysis: Bear continues to lead the market appeared first on AMBCrypto.
Source: AMB Crypto

XRP/USD Technical Analysis: Could bears cause blood-spill over the green grass?

Across the cryptocurrency board, XRP is the only coin to be witnessing green figures post the market crash. Furthermore, the coin has managed to sustain the second spot after racing Ethereum [ETH].
At the time of writing, the token was up by 0.15%, trading at $0.47 with a market cap of $19 billion. The total 24-hour trading volume was recorded at
1-hour:
XRPUSD 1-hour candlesticks | Source: tradingview
The 1-hour analysis of the XRP candlesticks depicts two trend lines wherein the downtrend extends from $0.51 to $0.48 and the uptrend stretches from $0.43 to $0.47. There is a clear indication of a trend breakout as the trendlines are about to collide into each other.
The Parabolic SAR is presently negative on the coin’s fate. The dots are aligned above the candlesticks, pushing the price downwards.
The Awesome Oscillator is bullish on XRP as the bars are glowing green as of now.
The Chaikin Money Flow is seen taking a downward approach to predict a bearish market for the token.
1-day:
XRPUSD 1-day candlesticks | Source: tradingview
In the 1-day scenario, the XRP price trend is witnessing an uptrend from $0.27 to $0.47 and a resistance level set at  $0.58. The support line is forming an ascending triangle with the resistance level, suggesting a progress in the XRP market.
The Bollinger Bands are not predicting an increased volatility in the price trend. However, the bands have left space for the prices to fluctuate, forming a wide tunnel-pattern.
The MACD has just made a bearish crossover by the signal. The reading line is approaching further down to side with the bear.
The RSI has taken a neutral stance on the subject. The indicator was moving downwards but begun traveling horizontally, denying to confirm the coin’s fate.
Conclusion:
In this technical analysis, the majority of the indicators are projecting a negative price trend for XRP. A trend break out is predicted as well, but the Bollinger Bands are have suggested low volatility in the market.
The post XRP/USD Technical Analysis: Could bears cause blood-spill over the green grass? appeared first on AMBCrypto.
Source: AMB Crypto