CryptoCurrency Business

31/07/2018

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22/05/2018

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27/04/2018

Stellar Lumens Leads Market Recovery

Stellar Lumens led the cryptocurrency price recovery on Thursday after a privacy-based ICO by the name of MobileCoin raised $30 million using the Stellar Consensus Protocol. The announcement drew greater foot traffic to XLM despite a broad pullback in the market mid-week.

XLM/USD Price Levels
The value of Stellar Lumens (XLM/USD) is up nearly 17% at the time of writing to trade at $0.404. The cryptocurrency is trading just a fraction of a cent below its most recent two-month high set on Tuesday.

Lumens, which normally trades against other major cryptocurrencies, was last valued at 0.000044 BTC (+4.8%) and 0.000618 ETH (+4.8%).

Daily trading volumes amounted to $187 million, according to data provided by CoinMarketCap. Binance is the largest market for XLM, with roughly one-quarter of total transactions processed through the exchange. Poloniex and Upbit each represent roughly one-fifth of the XLM market.

Stellar led a strong market recovery on Friday, with every coin in the top-25 recording gains. At the time of writing, the cryptocurrency market was valued at $415.5 billion with total transaction volumes worth $27.4 billion.

27/04/2018

The latest Daily Pivots show us continued bias to the upside. Despite the pullback the last 2 days and our modest recovery, there may be more left in the bull move. However, the 60 minute chart shows the 3 Day Rolling Pivot Range (green/yellow dots) as resistance so we will need to see confirmation with the hourly candle closing above the 3 Day RPR high, at 1481.00.

Also considering the 14 Day Pivot Moving Average (red line) is edging back up, this makes the case for upside more compelling.

The action to take is to buy on a confirmation of strength and enter a long position only if the market closes above 1481.00. If triggered, place the stop loss and profit targets stated below.

Entry Price: 1481.00
Stop Loss: 1370.00

Profit Targets: First profit target 1615.00. Second profit target 1720.00. Once first profit target is reached, bring stop loss to breakeven, then as the market makes new highs, trail a stop loss on remaining position 50 points behind to safeguard profits or until second profit target is hit.

04/03/2018

Analysis: Bullish Weekend

Trading activity remains on very low levels in the segment, and that’s not a bad sign for the longevity of the rally, as probably lots of burnt investors are still on the sidelines, waiting for confirmation to enter the recovery.

The best period to that is already gone in the case of most of the coins, reflected in our trend model, but the continuation of the rally is still very likely, with no major red flags raised by the price action in the majors. The lack of momentum in the bullish moves is a slight concern here, but the resilience that most of the currencies showed during last week’s correction confirms the positive scenario.

Today, Monero and Bitcoin are the most active major coins, with the decline in ETC also making headlines. A large part of the market is not going anywhere, and to cite the old adage once more “Never short a dull market!”

BTC edged as high as $11,500 as the creeping rally in the most valuable coin cleared the $11,300 level, with all being now lined up for a test of the dominant declining trendline. It would be a surprise to see Bitcoin taking out that resistance without some struggle, and more nervous short-term traders could take some profits here before the “battle”.

In case of a pullback, support is found at $10,500, $10,000 and between $9000 and $9200, while above the key zone the main target is the $13,000 price level.

Monero on the Move, Ether Still Flatlined, ETC Correcting

The overnight break-out in XMR reached the $375 level before a pullback ensued, but a rally towards $400 is still likely. That said, the short-term momentum is now overbought, and taking some profits here could be a good idea for traders, but we would leave some chips on the table.

Dash and Litecoin have also shown some positive signs lately, but the corrective move in Ethereum Classic might be a warning sign that the early leaders of the rally might need more time to consolidate their lofty initial gains.

The tug of war in Ethereum’s market is still apparent, and with the very strong resistance ahead, we wouldn’t be surprise of more consolidation, before a move out of the declining trend to scare the weak hands out once again, as it is usually done by Mr. Market.

Ripple, Cardano, and Stellar the main laggards in the top ten, IOTA is in a similar position to ETH, while rising stars Tron and Nano have been very active yet again among the smaller coins.

Our short-term outlook is rather neutral for the segment, as the low liquidity could result in a choppy market with sudden spikes lower, but the we still expect the recovery to continue in the majors.

03/03/2018

Bank Frick allows direct investments in leading cryptocurrencies

Bank Frick is the first financial institution in Liechtenstein to offer the trading of five leading cryptocurrencies and secure safekeeping via offline storage. Trading takes place within the fully regulated framework of the Bank’s processes. The offering is aimed at professional market participants and financial intermediaries.

Read full article here:

Balzers (LI) – Starting today, professional market participants and financial intermediaries are able to invest in the five leading cryptocurrencies Bitcoin (BTC), Bitcoin Cash (B*H), Litecoin (LTC), Ripple (XRP) and Ether (ETH) at Bank Frick. The cryptocurrencies can be bought using euros, US dol...

26/02/2018

POSITIVE SIGNS ON HORIZON

It’s been a tough weekend for cryptocurrency investors, with the major drifting for the last three days, and although no real damage has been done to the technical setup, all rally attempts faded away. Short-term price is still mixed, and we are facing the lack of bearish momentum and the relative strength in several coins continues to help the bullish case.

Bitcoin and Ethereum are in focus, with the most valuable coin still lagging the segment average, while ETH pulling its weight ever since the first signs of relative strength on Thursday. Bitcoin got close to testing the $9000-$9200 support zone yesterday, but another rally attempt started today in early trading as buyers stepped in yet again.

A rally above the Saturday high near $10,500 would confirm a swing low, which could lead to a quick rally to new hights after the correction. Short-term traders have a good opportunity to use yesterday’s lows as a stop-loss level, with targets ahead at $11,300, $11,750, and $13,000

Ethereum is outperforming BTC, and the coin not just held up above the Thursday lows during the weekend, but it’s also closer to the upper boundary of its declining trend, pointing to a possible break-out in the coming days. As the long-term momentum is neutral, investors could still add to their holdings, and traders could also play the break-out here. Support levels are still found at $780, $740, $625 and $575, while resistance is ahead near $910 and $1000.

24/02/2018

Trade Recommendation: Ethereum

This is a short term trade.

Entry Price: 869.25
Stop Loss: 845.00
Profit Targets: First profit target 897.00. Second profit target 924.00.

Once price reaches the first profit target raise the stop loss to breakeven.

24/02/2018

Technical Analysis:
Majors Currencies Still on Rally, but Strong Levels Not Reached Yet

The cryptocurrency segment has recovered from a correction yesterday, with the major coins all turning into green during the day session, despite the bearish start.With gains of up to 15%, the rally helped the relatively weaker coins.

Bitcoin and most of the largest altcoins remained stable, and BTC recaptured the $10,000 level. The initial rally topped out near $10,400, and the coin is trading back near the $10,000 level, as the bullish momentum faded away somewhat.

We expect the uptrend to continue even if the correction could still carry Bitcoin lower. Further strong support is found between $9000 and $9200, while targets are ahead at $11,300, $13,000, and $14,250.

Ethereum showed strength during the bounce again after yesterday, together with the early leaders of the rally, and although the coin dipped below the $845 level in the second half of the session, the signs remain positive for bulls. Support levels are now found at $780, $740, $625 and $575, while resistance is ahead near $910 and $1000.

Litecoin

Litecoin managed to reach back up to $215 after briefly trading near the $180 support during the Asian session today, with the key $200 level still being in the center of attention. The coin remains above the prior declining trendline after testing it overnight, and we still expect it to resume its uptrend after the correction, with resistance levels ahead at $225, $250, and $300, and support at further $170 and $150.

Dash

Dash turned volatile after a period of strength and calmer market conditions, and although it fell as low as $600 during the correction, the long-term picture remains constructive. Investors could add to their positions during the current correction, as we expect the recovery to resume. Support is now found at $600, and $500, while resistance zones are ahead near $$650, $700, around $825, $950, and $1000.

Ripple

Ripple continues to show relative weakness although it held up above the$0.85 level as expected, and it’s trading just below the key $1 resistance after today’s rally. While the correction might still continue, we expect the coin to resume the recovery in the coming weeks, with targets ahead at $1.25, and $1.50, and further resistance at $0.68.

Ethereum Classic

ETC recovered above the key $32-$34 support zone, in a very bullish fashion today after trading close to the $30 level overnight. The coin remains one of the strongest majors from a short-term technical perspective and we expect the uptrend to resume soon. Resistance is ahead near $37 and $43, while further support zone is near $27.

Monero

Monero continues to trade near the $280 level, the lower boundary of the bullish consolidation pattern, still among the strongest coins from a long-term technical perspective. The coin faces strong resistance near $300 and $335, but we expect the uptrend to continue even if the correction is not done yet. Above $335, the next target is at $400, while further support is found at $240.

NEO

NEO was behind most of the majors yesterday, being stuck below the key $120 level the lower boundary of the primary resistance zone ahead. As we still expect the broad correction to continue, traders should stay away from new positions, but investors could still accumulate the coin. Further resistance is ahead at $130, $150, and near the all-time high at $190, while support is at $100 and $80.

IOTA

IOTA held up above the $1.50 level despite the relative weakness that it has been showing during the correction, and it’s now slightly stronger during the bounce. The correction could still continue but we expect the recovery to resume soon, with resistance zones are ahead near $1.9, and between $2.2 and $2.35, while further support is at $1.2.

14/02/2018

Litecoin on the Move

Consolidation period in most of the majors continued in Asian trading today, with the overhead resistance still towering above Bitcoin and Ethereum. In another bullish turn of events, Litecoin, which has been gathering relative strength in recent days, popped higher, taking out the crucial $170-$180 resistance zone.

As LTC has been the leader of the rally off the crash lows, the strength of the coin is a very strong sign that the advance has legs, and the rest of the segment will resolve the consolidation pattern in a bullish way.

The dominant downtrend is still intact even in LTC before the much-awaited LitePay launch , and those short-term traders who entered positions should expect strong resistance again near the $200 level and the coinciding descending trendline. Support is now found in the same $170-$180 zone, while further strong resistance ahead near $250, and a weaker level at $225.

The largest digital currency is also knocking on the door of the $9000-$9200 resistance zone that has been capping BTC’s advance in the recent period. The coin moved out from the short-term triangle pattern that formed in the past few days. While the trend change is still not confirmed, a quick rally to $10,000 is in the cards now in the coming days.

As volatility in traditional assets will likely spike in the coming hours, with the crucial Consumer Price Index and the Retail Sales report coming out in the US, the crypto-segment might also experience wild swings.

Altcoins Showing Encouraging Signs

All the majors are sporting gains today, and the early leaders of the rally, Dash, Stellar, and IOTA also showing strength, albeit not as much as LTC. Traders should also keep an eye on Monero that is still in a strong technical position, close to breaking the down-sloping trendline, while Ethereum Classic will likely take a break after its surge.

Although further volatile swings are expected, and a new uptrend is yet to be established in the segment, the bullish signs that emerged last week are still present, and a new cycle is likely underway.