Bitcoin Cash [BCH] Technical Analysis: Token turns the tide, emerges as highest gainer amongst top-10 coins

Bitcoin Cash has come to the fore, emerging as the highest-gainer in the top-10 as the collective market shot-up above the $120 billion-mark. The fourth-largest cryptocurrency is now head and shoulders above the rest of the coins in the market, in terms of 24-hour price increase, with a massive 7 percent price increase in a bearish market.
On 22 January, the BCH price slipped to a one-month low of $118.8, following which it saw a 10.79 percent increase as the coin’s price shot up to $131.64. The market cap of the coin surged by over $225 million in less than a day and is now valued at $2.31 billion.
Exchange dominance has also seen a re-shuffle, with the top spot being taken over by L-Bank, with a BCH trading volume of $22.52 million or 7.57 percent in the BCH/BTC trading pair. The following two spots are taken by P2PB2B in the BCH/USD and BCH/BTC trading pairs respectively.
1-hour:
Source: Trading View
It comes as no surprise that the one-hour BCH trend line shows a stand-out green uptick as the BCH price rapidly rose. Two prominent uptrends can be noticed, the first, larger one, stretching from $120.77 to $129.3 and the second, shorter one, extending from $127 to $130.12. Prior to the uptrends, the BCH price fell during the past weekend, indicated by the downtrend from $128.54 to $121.78.
Bitcoin Cash has skyrocketed past its immediate support level pegged at $119.94 and it is very likely to break its resistance placed at $130.49. The previous support and resistance levels of the coin were placed at $125.72 and $130.18 respectively.
The Chaikin Money Flow indicator points to a bullish market as the CMF line is above 0, indicating an inflow of money into BCH.
The Parabolic SAR shows that the coin is trading with bullish momentum as the dotted lines are aligned below the coin’s trend line.
The Awesome Oscillator confirms the above indications, as the AO line is green, showing a bullish swing to the BCH market.
1-day:
Source: Trading View
Despite the positive signs in the above one-hour chart, the one-day chart indicates that post the hardfork, BCH prices are on a steep decline, indicated by the massive downtrend stretching from $626.31 in mid-November to $139.64 in January. A brief uptrend, immediately prior to the hardfork, is also noticed from $429.62 to $628.56.
Bitcoin Cash’s support level of $76.7 has long been surpassed, with the coin trading at almost double of the support figure. However, the recent increase in the BCH price is still not close to the immediate resistance level of $196.84.
The Bollinger Band points to a long-run decrease in volatility for the coin as the Moving Average line shows that the coin is trading in a marginally bearish market.
The Fisher Transform indicator shows a crossing over of the Fisher and Trigger lines, indicating a bullish Bitcoin Cash market.
The Relative Strength Index has been on the rise since the week began and is currently pegged at 43.64, up from a low of 37.34 from last week.
Conclusion:
Bitcoin Cash is currently leading the top-10 coins list in terms of short-term price increase, which is confirmed by the one-hour chart indicators, pointing to a bullish market. In the long-run, however, the coin is still fighting off the bears and is looking to break into a bullish zone, with the one-day chart indicators pointing to the same.
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Source: AMB Crypto

Bitcoin [BTC] could soon see an imminent breakout due to recurring bear pennant pattern

The price of Bitcoin is currently in a consolidation phase after formation of a recurring pattern twice within the span of a month. The current price of Bitcoin, at the time of writing, was $3,580, with the market cap hovering at $63 billion.
1-hour
Source: TradingView
Bitcoin’s price action, as seen in the chart above, is the best example of history repeating itself. The overall trend of Bitcoin is a downtrend as it has consistently been forming lower lows as seen in the hourly charts.
Pennant
There is a clear formation of a pennant in the price action chart, which breaks out to the top and then moves in a sideways fashion before dropping to retrace the same pattern all over again. However, it will be in a slightly lesser proportion compared to the one before.
Pennants usually show how the price gets caught up between forming lower lows as they head towards the peak of the pennant, where they have no more room, thus causing a breakout.
The first pattern started its formation on December 27, 2018, and it proceeded to ricochet between the trend lines consistently. The price broke out of the pennant pattern caused a massive spike of 6.56% as the prices rose from $3,838 to $4,090, The spike was followed by a sideways movement, which caused a sudden collapse in prices.
Fibonacci Retracement
The sudden collapse in the prices took place in two distinct steps, which occurred at the 0.618 Fibonacci level. The 0.618 level or the 61.8% level is deemed as the most important level by most traders. The price drop happened from $4,026 to $3,618, making a pit stop at $3,812, which, in total, was a drop of 10.13%. By observation, it can also be noted that the second collapse was almost half of the first one.
The second pattern that formed, followed the footsteps of the previous pattern and the price broke out of the pennant at $3,625 and reached $3,728, which was a total percentage increase of approximately 3%, which is half of the previous breakout. This followed by yet another sideways/downtrend movement, which collapsed again at the same Fibonacci level as the previous pattern. The collapse took place from $3,689 to $3,514 with a stop at $3,587 at the 0.618 or 61.8% Fibonacci level. The total decline was 4.74%, which is approximately half of the previous collapse.
Moreover, before the formation of the second pennant, the sideways movement of the prices found support at 0.886 or 88.6% Fibonacci level of the first pattern which was eventually broken as the prices fell lower.
At the moment, the prices are being supported at the 0.86 or 88.6% Fibonacci level of the second pattern, which is at $3,514, a perfect correlation. If the prices ever decide to break below this support, there is going to be a collapse.
1-day
Source: TradingView
The one-day chart also shows a consistent downtrend with prices forming lower lows, indicating a strong bear trend for Bitcoin. Bitcoin’s fall into the abyss is currently being supported by two supports, the first and the imminent support is at $3,477, which was tested multiple times. The second support is the lowest that Bitcoin reached in 2018, which is at $3,139.
Volume 
The volume indicator shows a very important indication of decreasing volume that has been in play since mid-November, which confirms that the price will undergo a massive and sudden change in the future.
The change, as per the technicals, indicates that the price should move downwards, however, the prices could go either way.
The Relative Strength Index also shows a declining trend, indicating that the selling momentum for Bitcoin is increasing.
Conclusion
The one-hour chart shows a recurring pattern in which the prices are being supported at the 0.86 Fibonacci level. If the price ever decides to drop to below the current support it would face the next immediate support at $3,136. In a worst-case scenario, the price would go into a free fall until $1,900 and the price was last seen at this point on July 14, 2017.
If the breakout happens to the upside then the price would have no resistance until $4,422 to $5,000, where the prices will be tested before it moves up. However, the one-day chart shows a declining volume trend, which indicates a strong movement in price that might happen in a few days.
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Source: AMB Crypto

Bitcoin [BTC] and other cryptocurrency exchanges are not money transmitters under MTA, says State of Pennsylvania

The State of Pennsylvania has released a statement on Bitcoin and other cryptocurrencies on their official portal. This guidance is in relation to the Money Transmitter Act [MTA] aka Money Transmission Business Licensing Law applicable to virtual currency exchanges.
The official statement also reveals that the Department of Banking and Securities [DoBS] of Pennsylvania has received multiple inquiries from businesses engaged in providing services related to buying, selling and trading cryptocurrencies. This was followed by the DoBS stating that the guidance is being published as they will not be addressing all the requests on a case-by-case basis.
According to MTA, money is defined as currency or legal tender that is recognized as a medium of exchange. To add on, the law of Pennsylvania stated that currency issued by the US government is only recognized as money in Pennsylvania. Due to this, Bitcoin and other cryptocurrencies are not classified as money according to the act. The statement also points that in the US, there has been not a single jurisdiction that has declared digital currency as a legal tender.
“…Thus, in order to “transmit” money under the MTA, fiat currency must be transferred with or on behalf of an individual to a 3rd party, and the money transmitter must charge a fee for the transmission”
They stated that a majority of the requests related to guidance on the applicability of the MTA were from cryptocurrency exchanges that were web-based. This was further followed by the DoBS deeming that these platforms are “not money transmitters” under the Money Transmitter Act.
“The Platforms, while never directly handling fiat currency, transact virtual currency settlements for the users and facilitate the change in ownership of virtual currencies for the users. There is no transferring money from a user to another user or 3rd party, and the Platform is not engaged in the business of providing payment services or money transfer services.”
The DoBS also gave an official statement on Kiosks and ATMs. They said:
“In both the one-way and two-way Kiosk systems, there is no transfer of money to any third party. The user of the Kiosk merely exchanges fiat currency for virtual currency and vice versa, and there is no money transmission. Thus, the entities operating the Kiosks would not be money transmitters under the MTA.”
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Source: AMB Crypto

Bitcoin and other cryptocurrencies must migrate from PoW, says Bank for International Settlement in a research paper

Bitcoin’s search volume for the global market as a whole piqued in Q4 of 2017 when it’s price hit an all-time high of ~$20,000.
This search volume for Bitcoin far exceeded that of Gold, Silver, US Dollar. Much of the appeal/attraction for Bitcoin or other cryptocurrencies comes from the fact that there is no central controlling authority and the fact that one can be their own bank.
As exciting and promising Bitcoin sounds, a paper published by Bank for International Settlements says otherwise. The paper titled “Beyond the doomsday economics of “proof-of-work” in cryptocurrencies” mentions how Bitcoin’s Proof-of-Work [PoW] consensus mechanism has two flaws. The paper also touches on the economics of Bitcoin and PoW, whilst imploring what the future might hold for Bitcoin and other cryptocurrencies that are based on similar consensus algorithms.
The first limitation that the paper stated was that Proof-of-Work axiomatically requires high transaction costs to ensure payment finality.
As per Satoshi Nakamoto, double-spending is an attack by a large miner controlling a significant fraction of the network’s computational power. The paper stated:
“Nakamoto’s definition of payment finality (although not explicitly spelled out as such) is thus operational: the deeper a payment is buried in the ledger, the less likely an adversary with given computational resources will succeed in a double-spending attack.”
Double-spending on such a network of nodes would actually be more profitable than mining, hence, the blockchain for Bitcoin includes “economic payment finality” –  the instant that payment to another party is completed, at which point the receiving institution has irrevocable access to the money.
This can be avoided by incentivizing miners with a very high required ratio of income as compared to the transaction volume [the amount that can be double-spent].
Moreover, the paper provided a rough example that the mining income must amount to 8.3% of the transaction volume, which is a multiple of the transactions fees in today’s mainstream payment services.
The second limitation that the paper stated was that the system cannot generate transaction fees in line with the goal of guaranteeing payment security and that the system either works below capacity and users’ incentives to set transaction fees are very low or the system gets congested and suffers scalability issues.
Furthermore, the paper noted:
“Underlying this is a key externality: the proof-of-work and hence the level of security is determined at the level of the block one’s transaction is included in, with protection also being provided by the proofs-of-work for subsequent blocks… While each user would benefit from high transaction fee income for the miner, the incentives to contribute with one’s own fee are low.”
The paper concluded that PoW can only achieve payment security if mining income is high, but the transaction market for Bitcoin will not be able to generate an adequate level of income. As a result, the liquidity is set to deteriorate substantially in the future.
The paper stated:
“A simple model suggests that ultimately, it could take nearly a year, or 50,000 blocks, before a payment could be considered “final”.”
Moreover, the research indicated that the second-layer solutions for Bitcoin and other PoW-based assets like the Lightning Network or Sidechains can improve the economics of payment security but they in themselves still face scaling issues.
Due to the above-mentioned facts, the liquidity of Bitcoin and other digital assets that have forked from Bitcoin and PoW based cryptocurrencies will eventually need to migrate from PoW consensus algorithm to a more fitting and evolving consensus algorithm.
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Source: AMB Crypto

Bitcoin Cash [BCH] escapes the bear as price shoots up by more than 7%

As the cryptocurrency market enters the last week of January, the behavior of tokens have also seen a change as some coins are in the green while others are still bleeding. The sporadic movement has been ongoing for quite some time now, with cryptocurrencies like Bitcoin [BTC], XRP and Bitcoin Cash [BCH] all suffering the same fate, until today.
On January 23, Bitcoin Cash saw a resurgence with the prices climbing on the charts. At the time of writing, BCH was rising by 7.06%, with a total market cap of $2.295 billion. The cryptocurrency was trading for $129.85 and had a 24-hour market volume of $276.262 million.

The chart showed that over the past 24 hours, Bitcoin Cash had climbed from a bottom of $119.94 to reach a peak of $130.42, before settling at its current price. The Chaikin Money Flow indicator on the chart also points to a significant spike, a sign of the massive amounts of money coming into the market during the price rally.
The total trade volume of BCH was majorly split between three exchanges: LBank, Huobi Global and P2PB2B. LBank had a grasp on $22.821 million worth of BCH trade while Huobi Global and P2PB2B saw BCH transactions worth $35.191 million taking place on the platform.
Bitcoin Cash has been in the news multiple times over the last few weeks, mainly due to updates and comments from its proponents. Roger Ver, the Chief Executive Officer of Bitcoin.com and one of the most vocal supporters, had recently announced that Bitcoin.com’s wallet will receive its update soon. The news had also rallied users of the wallet, one member even listing out the features needed in the update; spend and replace built right into the wallet, strong privacy thanks to Coinshuffle, and improving the transaction creation, signing, and broadcasting speed.
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Source: AMB Crypto

Bitcoin Cash [BCH] Technical Analysis: Bears charge towards BCH following weekend decline

Bitcoin Cash [BCH], the fourth-largest cryptocurrency has been pushed down due to the bearish market forces yet again. The collective cryptocurrency market fell by a massive $5 billion over the weekend and since correcting forces have not stepped in yet, the market cap is languishing at $118 billion, its lowest since mid-December.
At press time, BCH has declined marginally against the US dollar in terms of 24-hour price change, however, the market cap of the coin has fallen to $2.14 billion, just $20 million ahead of EOS [EOS], in the fifth place.
In terms of exchange-volume dominance, Bitcoin Cash [BCH] is being traded the most on P2PB2B with the following three trading pairs: BCH/USD, BCH/ETH, and BCH/BTC accounting for the following share: 8.24 percent, 7.51 percent, and 7.43 percent respectively. The next two exchanges holding maximum BCH volumes are HitBTC and LBank.
1-hour:

The one-hour Bitcoin Cash trendline boasts two prominent downtrends with contrasting severities. The first occurring prior to last weekend extends from $130.02 to $127.2, the second beginning at the close of the weekend extended from $128.49 to $$121.47. A meager uptrend was also noticed from $127.16 to $129.5.
Bitcoin Cash’s immediate support level is pegged at $119.64, which the coin is hovering over. The immediate resistance level of the coin is $123.07, which the coin slipped below on 20 January. The other resistance and support level of the coin is at $130.43 and $125.37.
The Bollinger Bands point to a decline in the volatility of Bitcoin Cash, as the weekend’s price fluctuations have stabilized. The Moving Average line points to a bearish trend in the market.
The Fisher Transform indicator points to a bearish market as the Fisher line has overtaken the Trigger Line.
The Awesome Oscillator indicates that the Bitcoin Cash market has been taken over by the bears, as the AO line is below 0.
1-day:

The one-day trend line boasts a significant downtrend during the Bitcoin Cash hardfork that split the coin in two and sent the market into a spiral. The first downtrend began prior to the hardfork and extended from $854.67 to $452.38, 47.06 percent decline, and the second one, post the November hardfork extended from $628.38 to $134.94, a whopping 78.52 percent decline.
The immediate key support level of the coin stands at $72.09, which the coin has not come close to since mid-December. The immediate key resistance level stands at $197.80, which the coin fell below at the beginning of the month. The previous support level stood at 411.52. The previous resistance levels were pegged at $650.38 and $628.38 respectively.
The Chaikin Money Flow points to withdrawal of money from Bitcoin Cash as the CMF line has dipped below 0.
The MACD Line points to a mildly bearish trend. Bitcoin Cash almost broke into a bullish territory at the beginning of the year but because of the bearish pressure, it failed to escape.
The Parabolic SAR points to a bearish market as the dotted line is aligned above Bitcoin Cash’s trend line.
Conclusion:
In the short term, Bitcoin Cash [BCH] has severely declined as the week began, trading at a low of around $119.34, while last week it saw a high of $131.69. However, in the long-run, the bears have softened their grip on the BCH market, as the trend line looks to stabilize and major indicators point to only a marginal bearish momentum for the coin.
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Source: AMB Crypto

Cardano [ADA] Technical Analysis: Bear holds strong on to the token’s future

The eleventh-largest cryptocurrency on CoinMarketCap, Cardano [ADA] exhibited a uniform price during the first part of the January 20. A gradual decline in its valuation was noted later in the day followed by a steady surge during the first half of the next day. Cardano developer, Charles Hoskinson, hosted his latest impromptu AMA session last week, disclosing the launch of a revamped Daedalus wallet structure in its 1.5 version, which would aid the coin’s scaling up the process.
At the time of writing, ADA held a market cap of $1.110 billion. The coin was priced at $0.043 and the volume of coins traded accounted for over $16.5 million, with a decline of 0.89%.
1-hour
Source: Trading View
The uptrend registered by the coin during the one-hour period tallied from $0.045 to $0.046 and a downtrend from $0.046 to $0.043. The first resistance was marked at $0.044 and the immediate support at $0.042.
The Bollinger Bands indicator exhibits a contraction in the graph, depicting a decline in price volatility of the market.
The Awesome Indicator depicts a bearish pattern in the coin’s price, with the lines turning green.
The Klinger Oscillator shows a bearish market trend for the coin.
1-day
Source: Trading View
The one-day ADA graph shows an uptrend from $0.030 to $0.041 in its price, accompanied by a whopping downtrend from $0.077 to $0.046. The coin has faced an immediate resistance at $0.05 and support at $0.037.
The Parabolic SAR indicator traces a bearish market pattern for the coin, with the series of dotted line aligned above the candles.
The MACD indicator for the same time period also forecasts a bearish pattern, with the MACD line below the signal line.
The Chaikin Money Flow graph lies below the zero-line, which depicts that the price of the coin is following a bearish trend with money flowing out of the market.
Conclusion
As indicated by the indicators MACD, CMF and Parabolic SAR on the one-day chart and the AI and Klinger Oscillator on the one-hour chart, the future of ADA still lies in the bear’s realm.
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Source: AMB Crypto

XRP/USD Technical Analysis: Market suffocates cryptocurrency as prices remain unchanged

The cryptocurrency market’s volatile nature has been prolonged with a majority of the top coins suffering the same fate. Cryptocurrencies like Bitcoin [BTC], XRP and Ethereum have been going through a mixed phase of bullish and bearish trends, sometimes taking the side of the bull for a longer time. XRP, at the time of writing, had a bearish undertone, which was reflected by most of the other cryptocurrencies too.
1-hour:

XRP’s one-hour graph paints the picture of a cryptocurrency undergoing sideways movement as a result of the unmoving market. XRP’s immediate support has been holding at $$0.318 while the resistance is at $0.343. The downtrend brought the prices down from $0.337 to $0.322.
The Relative Strength Index shows the graph staying in the middle of the overbought zone and the oversold zone. The hold in the middle is a sign of a relative equilibrium between the buying pressure and the selling pressure.
The MACD indicator comprises of the signal line and the MACD line moving as a conjoined pair after a bearish turn. The MACD histogram, on the other hand, is a mix of both bearish and bullish signals.
1-day:

The one-day graph for XRP bears a resemblance to the one-hour graph as both shows sideways price movement. The long-term support is currently at $0.262 while the recent downtrend resulted in the price falling to $0.374 from $0.515.
The Chaikin Money Flow indicator has taken a steep dip below the zero line. This is a sign of the capital leaving the market increasing in momentum compared to the capital coming into the market.
The Awesome Oscillator has shown a dip in its graph when placed side by side with the other time periods. The lull in the graph signifies the lack of market momentum.
Conclusion:
The above-mentioned indicators all point to a bear regime, with an extended bear run predicted. As the investor sentiment sours due to the unmoving market, proponents of the field expectantly wait for the market to go green before recording the longest bear market in the history of cryptocurrencies.
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Source: AMB Crypto

BitTorrent creator: “never been affiliated with Tron or Justin Sun”

Tron [TRX], the ninth largest cryptocurrency in the space, has been making a lot of buzz in the space. This has led to the coin gaining a lot of attention from other communities in the space as well. The main reason it is currently a hot topic of the space is its BitTorrent acquisition.
BitTorrent is considered to be one of the biggest acquisitions in the space as it has always been greeted with high-regard by several influencers in the space as it is the largest file-sharing peer-to-peer platform around the globe and because of its use-cases.
The speculation of Tron acquiring the platform was doing its rounds in the space much before the actual announcement. Additionally, some reports claim that Justin Sun, the Founder and CEO of Tron Foundation, had filed for a temporary restraining order on the platform as the software company had started look for more prospectus bidders. In the end, the Foundation acquired the biggest Torrent platform for over $140 million.
This was soon followed with news that employees had started to take the exit route after the acquisition, wherein five employees were confirmed to have left the firm. This turned out to a major blow for the Foundation as they released a statement clarifying the entire situation, citing that despite some taking the exit gate there were many who joined the bandwagon.
Now, Bram Cohem, creator of BitTorrent, has spoken about the Tron and the Founder on his official social media handle. He said on Twitter:
“I’m no longer in any way affiliated with BitTorrent and have never been affiliated with Tron or Justin Sun”
Along with this, the creator also spoke about the speculation of Sun investing in his current project, Chai Network. Cohem has clarified that neither Sun nor the Foundation have any shares in the project.
Chris Burniske, Partner at Placeholder said on Twitter:
“@Tronfoundation’s$TRX is pumping because it will allow people to claim #BitTorrent-coin ($BTT). Though, per tweets like Bram’s & other whispers, Tron is just shilling BitTorrent’s brand, while talent bleeds & workability of $BTT is an afterthought.”
Recently, the Former Chief Strategy Officer of BitTorrent, Simon Morris was also in the limelight for his statement against the Foundation’s current project and Justin Sun. In an interview with Breaker Magazine, he stated that Tron network will not be able to process BitTorrents’ transactions.
Nonetheless, this was soon brushed off by Sun, wherein he claimed that the team will be opting for on-chain/off-chain transactions and ensure that Tron network will be able to handle the token’s transactions.
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Source: AMB Crypto

EOS’s Brock Pierce: Ethereum [ETH] will be in trouble if it does not solve scaling issue this year

The cryptocurrency market’s roller-coaster movement has been noted by a lot of proponents in the space, with many predicting the bearish behavior to last for more time. In a recent chat with CryptoTrader Ran NeuNer, Brock Pierce, the current Chairman of the Bitcoin Foundation and co-founder of the EOS Alliance, spoke about the fall of Mt.Gox and the behavior of the cryptocurrency market right now.
Pierce stated that Mt.Gox being one of the first major cryptocurrency exchanges had a lot riding on it and its fall sent shockwaves across the industry. He said:
“The fall of Mt.Gox incurred massive reputation damage and the feeling that it propagated throughout the industry was crazy. People thought that since Mt.Gox got hacked, Bitcoin must be unsafe too. We need to create safer and better practices in the field.”
The EOS Alliance co-founder was also of the opinion that custodial issues need to be solved and that twenty nineteen will be the year of BUIDL. Pierce added 2018 was the year of HODL while 2017 was when the term ‘lambo’ came into the fore. According to him, it is very difficult to retain people in a bull market. He then gave his comments on the scalability issue persistent among a lot of cryptocurrencies. In his words:
“If Ethereum does not solve the scaling this year then there will be a problem. The market is not going to wait for them to catch up, especially with all the generation 3 blockchains coming up. EOS is currently the number two chain in terms of developers with a lot o runway. It also helps in having the most advancement form of solving scalability issues.”
Brock Pierce informed users of exclusive information related to DApp token. He said that Bancor and Liquid EOS will solve the RAM and CPU issues probably by February. He focused his discussion on the effect of communities in the cryptocurrency space, citing “community is everything, technology comes later”.
Looking at the new year, Pierce opined that the sectors of adoption and the fundamental building is on the right path, and in some cases at its peak. He closed the discussion by adding:
“I rarely make predictions but I have a feeling by the end of this year we will see apps built on the blockchain that will have a million users.”
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Source: AMB Crypto

Ethereum [ETH/USD] Technical Analysis: Coin has found a new resting place

Ethereum [ETH], the third-largest cryptocurrency by market cap, continues to stay beside the bear. It is not the only cryptocurrency that is preferring the bear over the bull. Other coins such as Litecoin [LTC], Monero [XMR] and Bitcoin [BTC] are also pictured hanging out with the winter animal.
According to CoinMarketCap, at press time, Ethereum was trading at $117.30 with a market cap of $12.25 billion. The currency has a trading volume of $2.29 billion and has plunged by over 8% in the past seven days.
1-hour
Ethereum one-hour chart | Source: Trading View
In the one-hour chart, the coin demonstrates a downtrend from $129.38 to $124.65 and $122.85 to $116.30. The uptrend is outlined from $114.35 to $115.03. The resistance levels are set at $117.81 and $124.93 for the coin. Whereas, the support levels can be spotted at $114.95 and $114.30
Chaikin Money Flow, irrespective of the coin’s choice, is forecasting a green day as the line is able the zero-mark, showing that the money is flowing into the market.
Bollinger Bands is forecasting a less volatile market as the bands are seen close to each other.
Parabolic SAR is abiding by the coin’s decision and is seen forecasting a bearish market as the dots have aligned above the candlesticks.
1-day
Ethereum one-day chart | Source: Trading View
The one-day chart shows a downtrend from $499.01 to $155.91 and from $149.9 to $123.20. The uptrend for the coin is pictured from $117.43 to $83.74. The immediate resistance is laid out at $128.51 and the strong resistance is at $156. The support grounds for the currency is at $114.43 and $82.82.
RSI is showing that the buying pressure is currently evened out with the selling pressure.
MACD is forecasting a bearish side for the coin as the moving average line is below the signal line after the two met for a short duration.
Klinger Oscillator, is on the same page, as the reading line has placed itself below the signal line after a crossover.
Conclusion
The coin likes its refugee in the bear’s market as it is indicating a longer stay. The indicators that are in complete agreement with the coin’s decision are Parabolic SAR from the one-hour chart, MACD and Klinger Oscillator from the one-day chart.
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Source: AMB Crypto

Tron [TRX/USD] Technical Analysis: Bears pressure the bulls out of the scene

Tron has been known to defy the market trend on multiple occasions and it was doing the same at the time of writing. The prices of Tron are up by 4.15% with a market cap of $1.74 billion while the 24-trade volume is at $248 million.
Most of the trade volume for TRX comes from the exchange Upbit, a Korean exchange via the trading pair TRX/KRW.
1-hour
Source: TradingView
The one-hour chart for Tron shows an uptrend that extends from $0.0215 to $0.0237, while the downtrend extends from $0.0328 to $0.0264. TRX prices have moved away from the support at $0.0212 and towards its imminent resistance point at $0.02678. The subsequent resistance point can be seen at $0.0328.
The Parabolic SAR indicator indicates a bearish move as the markers have spawned above the price candles.
The MACD indicator has finished a quick bearish crossover and seems like it might undergo another crossover, but a bullish one, unlike the recent crossover.
The Awesome Oscillator shows a decreasing momentum as the bars are reducing in size and the bars are transitioning from red to green bars.
1-day
Source: TradingView
The one-day chart shows a small uptrend that extends from $0.0132 to $0.0215 while the uptrend extends from $0.0287 to $0.0725. The support at $0.0120 is holding good even in the longer one-day time frame. The resistance line at $0.0268 was breached briefly as the price moved above it and has now come back down again.
The Aroon indicator shows a crashing uptrend that has reached the zero-line, while the downtrend line has failed trying to come back up.
The Chaikin Money Flow shows a crashed CMF line to an oversold zone. The money for TRX is flowing out of the market.
The Relative Strength Index shows a slightly higher buying momentum as the RSI line has crossed above the 50-line.
Conclusion
The SAR, MACD, and AO indicators all indicate a bearish aura hanging over Tron in the one-hour chart. The one-day chart for TRX shows a sideways trend as indicated by Aroon, CMF, and RSI markets.
The post Tron [TRX/USD] Technical Analysis: Bears pressure the bulls out of the scene appeared first on AMBCrypto.
Source: AMB Crypto

Haven Protocol [XHV]’s “exit scam” put on hold as developer comes back to shoo away the FUD

The Haven Protocol community panicked as they believed that the developer might have abandoned the project and it could turn out to be yet another “exit scam”. The panic was thwarted as the developer came back from what seemed like a long absence and confirmed that the exit scam was just FUD.
The developer’s Twitter handle @havendev was tagged in a thread on January 21, 2019, by a user @cryptoblkbeard saying that Haven Protocol was an exit scam.
The thread contained a screenshot of a Discord chat of user @news.ctuler who seemed distraught due to the absence of the core developer of the project.
news.cutler said:
“Consider this project dead unless some devs take it over.
@havendev is apparently the only person with access to the code repository was asked weeks ago to open it up so other contributor could help out and review the code.
Ever since then we haven’t heard from him.”
He continued saying that the developer was asked to make the dev fee transparent and there was still no reply from the core developer. news.cutler said that he would be gone even if the core developer showed up.
Another Discord user @donjor said that he concurred with news.cutler and that they could fork the repository if need be and as long as it helped the Haven community. He said that he would try and connect with @havendev and gain access to the code.
After all the commotion on Twitter and Discord, the developer reached out to the community and put an end to the FUD of Haven Protocol being an exit scam. He said:
“Haven development has been ongoing. I have still been working on the offshore code through Christmas and new year. I stepped down from running the Discord and social networks 4-6 months ago and handed that control over to @donjor and @news.cutler.
In light of the insane amount of FUD, and although I want to keep the offshore code under wraps I will prepare it and hand it all to the team so that they can hire new devs to work o nn it. I will continue to help the team where I can.”
More updates from the community about the code repository are yet to surface. The price of XHV dropped on January 21, 2019, and it has spiked up from $0.3097 to $0.3679. The 24-hour price change shows a massive 9.17% increase after the positive news about the dev.
The post Haven Protocol [XHV]’s “exit scam” put on hold as developer comes back to shoo away the FUD appeared first on AMBCrypto.
Source: AMB Crypto

BitGrail exchange declares bankruptcy after almost a year of announcing $195 million loss

The year of 2018 has been a very volatile year for the cryptocurrency market. The year witnessed a majority of the coins hitting its highest value in terms of price and, at the same time, slump to its lowest value. Along with this, the year also saw several altcoins rise to fame in the space. The most notable event apart from the volatility of the market is considered to be the hacks that took place throughout the year. Well-known exchanges such as Coincheck fell prey to hackers, losing millions of customers’ funds.
BitGrail, an Italian cryptocurrency exchange, was one such platform that was compromised in early 2018. The exchange lost almost $195 million worth of customers’ cryptocurrencies. The exchange rose to fame as it became one of the major platforms to trade Nano aka RailBlocks. It was the very same cryptocurrency the exchange ended up losing to the hackers, as the Founder, Francesco Firano, revealed that 17 million Nano tokens were stolen by hackers.
The announcement of the hack was soon followed with speculation that this was a premeditated act and that the exchange had been planning an exit scam for quite some time. Even the Nano team expressed their doubts on the whole situation. In an official statement, the team had stated:
“We now have sufficient reason to believe that Firano has been misleading the Nano Core Team and the community regarding the solvency of the BitGrail exchange for a significant period of time.”
On January 21, 2018, after almost a year of announcing that the exchange was compromised to an attack, the firm has now declared bankruptcy in their official telegram channel. Additionally, when asked about the bankruptcy on Twitter, the CEO, Francesco said that it is “confirmed”.
Bitgrail declaring bankruptcy | Source: Discord
PaddyThePriest, a Redditor said:
“This is good news for Nano as far as I can see. Lays the blame for the hack at Bomber’s feet. Also shuts his lying mouth once and for all.”
Darkrender7, another Redditor said:
“If nano rockets upward like bitcoin did… it very well could turn out that he’ll be able to pay everyone back in fiat and make off will millions from selling the rest of the nano at the new high market price. Thats what’s going on mark and Mt. Gox”
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Source: AMB Crypto

Coinbase supports inbound and outbound international [SWIFT] wire transfers; ventures deeper into Asia

Coinbase, a leading cryptocurrency exchange platform in the US, has taken another massive step to support their institutional clients and high-volume business across Asia. The platform announced today that they have opened their doors to professional trading and custody platforms for institutional clients and high-volume customers in Asia.
On their official blog post, the exchange stated that their clients across Asia can now access the platform’s trading services for institutions, cold storage service, and Coinbase custody.  In order to achieve this, the platform will “now support inbound and outbound international [SWIFT] wire transfers, allowing Coinbase clients in Asia to fund their accounts from non-US bank holdings”.  They added that this feature will help their non-US customers to access the platform’s deep pool of cryptocurrency liquidity.
The exchange further stated that they will also be providing these high-volume customers in Asia the access to trade, deposit and withdraw Circle’s stable coin, USDC via Coinbase Prime, allowing customers to access several trading pairs available on the platform. Additionally, approved high-volume customers in Asia have access to the platform’s Coinbase Custody, an institutional-grade service optimized for storing large amounts of cryptocurrency in a highly secure manner.
They said:
“We see a bright future ahead for crypto in Asia. Building on our announcement last June that Nao Kitazawa would lead our efforts in Japan, we have also recently appointed Kayvon Pirestani to head institutional sales in Asia, operating from our Tokyo office.”
To add on to customer’s delight, the platform will be rolling out their recent OTC trading desks to all the approved Coinbase Prime clients around the world, allowing a few select customers to perform large amounts of trade.
Andrew Robinson, head of institutional sales and trading for Coinbase in Europe, the Middle East, and Africa, said in an interview with Forbes:
“The OTC, which went live in the U.S in November and the in the U.K. just before Christmas, has been well received so far. This latest upgrade means Coinbase customers outside the U.S. are now able to trade without a domestic U.S. bank account – something we think is going to make a big difference for out trading volumes.”
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Source: AMB Crypto