Tag: Crytocurrencies

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Cryptocurrencies

Coinbase Wallet Review 2020: Is It Different Coinbase Exchange?

Coinbase wallet is a standalone crypto vault developed by the San Francisco based tech-startup and one of the world’s biggest cryptocurrency exchanges – Coinbase. The wallet is online-based and free to all. The wallet has gained over time a reputation and massive following in the crypto industry not just because of its close association with the Coinbase Exchange but also due to its safety, accessibility, and support for numerous digital coins. Coinbase wallet is also is one of the few hot wallets that have never been hacked.

Coinbase wallet is a standalone crypto vault developed by the San Francisco based tech-startup and one of the world’s biggest cryptocurrency exchanges – Coinbase. The wallet is online-based and free to all. The wallet has gained over time a reputation and massive following in the crypto industry not just because of its close association with the Coinbase Exchange but also due to its safety, accessibility, and support for numerous digital coins. Coinbase wallet is also is one of the few hot wallets that have never been hacked.

Coinbase wallet is a standalone crypto vault developed by the San Francisco based tech-startup and one of the world’s biggest cryptocurrency exchanges – Coinbase. The wallet is online-based and free to all. The wallet has gained over time a reputation and massive following in the crypto industry not just because of its close association with the Coinbase Exchange but also due to its safety, accessibility, and support for numerous digital coins. Coinbase wallet is also is one of the few hot wallets that have never been hacked.

In this Coinbase wallet review, we take a look at some of its key operation and security features that make it one of the most popular crypto wallets. We also explore the ease of using the wallet – from the registration process to sending and receiving coins to the wallet.

Coinbase Key features:

Straightforward and user-friendly interface: The Coinbase crypto wallet has a friendly and easy to use interface. It is also overly simple, making navigation easy for both experienced and beginner crypto traders.

Seamless transfers to other wallets: Sending digital assets from your Coinbase wallet to another Coinbase wallet or a different cryptocurrency vault is easy and straightforward. 

Free to acquire: The Coinbase crypto wallet is free. And unlike the Coinbase exchange that is only available in a handful number of countries, virtually anyone in the world can download and use the Coinbase crypto wallet.

Highly customizable wallet addresses: When creating a Coinbase wallet account, you will need to come up with a unique username. And instead of sending coins to the complex and lengthy wallet addresses, the uniqueness of these usernames has made it possible for Coinbase users to send coins to usernames instead of addresses when exchanging cryptos from one Coinbase wallet to another. 

Non-Custodial wallet: Coinbase is a non-custodial crypto wallet implying that the coins aren’t held on Coinbase servers but stored in the app in your device. You, therefore, have real-time access and full control over your private keys. 

Integration with other online wallets: The Coinbase wallet easily integrates with some online crypto wallets like MyEtherWallet and Metamask with ease.

Security features:

Password protected with 2FA features: The most important security feature for any crypto wallet is arguably its password. But Coinbase seeks to enhance this further by introducing the two-factor verification security option, which uses your mobile phone number.

Biometric and auto-lock security options: In addition to the passcode and 2-step security protocols, the Coinbase mobile app wallet also supports other biometric security options such as the Face ID and fingerprint security systems. It also has the timed auto-lock system that closes the wallet app after a few minutes or hours of inactivity.

Double encryption: Coinbase further argues that the data held in the Coinbase wallet app, especially the private keys and passwords, are highly encrypted. According to their website, the wallet app employs the 256-bit encryption and has also received the Federal Government approved FIPS-140 certification.

Recovery seed: When signing up for the Coinbase wallet, you will be provided with a 12-word recovery seed. You can use this to recover your private keys if you ever lose the phone or forget the password to the wallet.

Currencies supported

Coinbase wallet is a multi-currency wallet that supports all the popular cryptocurrencies, ERC-20 tokens, and ERC 721 collectibles. These add up to around 100 coins, which include Bitcoin, Bitcoin Cash, Ethreum, Ethereum Classic, Litecoin, Ox, and QTUM.

Coinbase wallet cost and other fees

Whereas acquiring the crypto wallet is free, you will be charged for its use. Sending coins from the wallet to another attracts highly variable transaction fees.

Additionally, the Coinbase wallet doesn’t maintain a transaction fee structure. You, therefore, won’t know how much you will be charged for the coins transfer until after you have initiated the transaction.

Setting up the Coinbase wallet:

How to install a Coinbase wallet app:

Step 1: Start by downloading and installing the Coinbase Wallet App: Google Play Store for Android phone users and the iOS App Store.

Step 2: If you are new to the Coinbase wallet, select the “Create a New Account” option to create a Coinbase wallet app. If you already have a Coinbase wallet app and are you are looking to recover lost private keys, use the “Recover account” option.

Step 3: Choose a unique username.

Step 4: Choose a login option. You can either choose to create a six-digit passcode or the Biometric Face ID login option.

Step 5: The app will then present you with a 12-word recovery phrase as your account backup. Write these words down on a piece of paper and store it safely. You will need them to recover your private keys should you lose access to your phone or forget the wallet app password.

Step 6: You can now start transferring digital currencies in and out of the Coinbase wallet app.

Sending and receiving coins:

To receive funds into your Coinbase Wallet:

Step 1: Open and log in to the Coinbase wallet app.

Step 2: Open the coins and tokens icon and click on the type of coins you want to receive.

Step 3: Click on the receive option and copy the wallet address, or print the QR code provided and present it to your sender.

To send payments from your Coinbase Wallet:

Step 1: Open and log in to the Coinbase wallet app.

Step 2:  Open the coins/Tokens tab and click on the coins/token you wish to send.

Step 3: Select the send payments icon.

Step 4: On the send payments tab, enter the receiver’s wallet address, scan their address QR code, or key in their Coinbase username.

Step 5: Enter the number of coins you wish to send, confirm the address or user name, and click send.

Coinbase hardware wallet pros and cons:

Pros:

  • The Coinbase wallet app has one easy and straightforward registration process.
  • The wallet has multiple security features that include a passcode and biometric features such as Face ID.
  • The wallet app is free of charge 
  • The wallet integrates with other third party hot wallets like MyEther Wallet and Metamask
  • The wallet has the backing of one of the safest and most reputable cryptocurrency exchanges

Cons:

  • One may consider the number of coins supported by the Coinbase wallet app relatively limited
  • The wallet doesn’t support anonymous trading
  • It is hosted online, and this compounds the threat of a possible breach
  • The wallet is institutionally owned, implying that they may track how you invest and spend your coins
  • The wallet app isn’t hierarchically deterministic

Coinbase wallet compared to competitors:

Comparison with hot wallets:

The Coinbase wallet app is more secure than most wallet apps. It has many advanced security features like Biometrics, supports two-factor authentication, and is also highly encrypted. Additionally, whereas most hot wallets have suffered varied extents of security breaches, the Coinbase wallet app has never been compromised. The downside to the use of Coinbase is that unlike most crypto wallet apps like Mycelium that integrate with hardware wallets to add a layer of security and broaden the number of cryptos they can support, Coinbase doesn’t.

Comparison with hardware wallets:

Hardware wallets like Trezor and Ledger Nano S are more secure and have hardier security safeguards than Coinbase. The wallet app is, for instance, a soft target for remote hacks where anyone who gains access to your device remotely can easily clear your accounts. Hardware wallets have on-device buttons with the sole purpose of authorizing transactions. Plus, they tend to support more crypto coins than most wallet apps.

Customer support:

Coinbase customer support is relatively average. On their website is a quite elaborate FAQ page addressing some of the most common user queries. You, however, can only contact their support via social media or email. The wallet app doesn’t have phone support or the live chat feature.

Verdict: Is the Coinbase wallet app safe?

Three primary factors make the Coinbase crypto wallet a must-have for a budget cryptocurrency investor/trader. First, it is free to acquire. Secondly, it has some of the most advanced security features, including biometrics: fingerprint, and face ID. Lastly, it is closely associated with one of the most reputable cryptocurrency exchanges in the world. It is mostly ideal for low-volume crypto traders. But ensure that you also invest in solid antivirus software for both your phone and computer before installing the wallet app. 

 

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Cryptocurrencies

Guarda Crypto Wallet Review: Features, Security, And Ease Of Use

Guarda is a multi-currency non-custodial cryptocurrency wallet launched to the crypto community in 2017. It is developed by Guardarian OÜ Company, a blockchain technology startup based in Estonia. And while Guadarian has come up with several technological products, the Guarda wallet has received the widest reception in the crypto world because of its versatility and security.

Guarda is a multi-currency non-custodial cryptocurrency wallet launched to the crypto community in 2017. It is developed by Guardarian OÜ Company, a blockchain technology startup based in Estonia. And while Guadarian has come up with several technological products, the Guarda wallet has received the widest reception in the crypto world because of its versatility and security.

Guarda is a multi-currency non-custodial cryptocurrency wallet launched to the crypto community in 2017. It is developed by Guardarian OÜ Company, a blockchain technology startup based in Estonia. And while Guadarian has come up with several technological products, the Guarda wallet has received the widest reception in the crypto world because of its versatility and security.

Other factors that make Guarda wallet stand out include ease of use and transparency in fees. Additionally, Guarda is registered and regulated by the Financial Intelligence Unit of Estonia and licensed to offer cryptocurrency exchange services.

In this Guarda crypto wallet review, we will be taking an in-depth look at the multicoin, multiplatform wallet, exploring its key operation and security features as well as its pros and cons.

Key Features:

Multiplatform: Guarda is a multiplatform wallet accessible on multiple devices and operating systems. The most popular are its iOS and Android apps for mobile device users and the web-trader, plus Linux, Windows, and macOS desktop apps for their desktop clients.

Inbuilt exchange: Guarda has an elaborate in-built exchange where the wallet users can trade and swap one crypto for another or for fiat currency. It supports both fiat-to-crypto as well as crypto-to-crypto exchanges.

Supports credit cards: Guarda wallet with its inbuilt exchange is one of the few cryptocurrency wallets that do not just support fiat-to-crypto exchanges but also allow for the purchase of cryptos using credit cards. The Guarda wallet’s parent company is also in the process of rolling out a prepaid debit card that can be integrated into the Guarda cryptocurrency ecosystem.

Integration with hard wallets: Guarda crypto wallet integrates seamlessly with the Ledger Nano X hardware wallet. This not only boosts its security but also amplifies the number of supported currencies.

Chrome extension and DAPP ecosystem: Guarda wallet also has a Chrome extension that you can use to control your wallet. Recent improvements to the extension have also made it possible for Guarda wallet holders to access the EOS ecosystem, where they can create and interact with the different DApps.

Token generator: By acquiring the Guarda wallet, you also gain access to its parent company’s blockchain network and token generator tool that you can use to create, popularize, and issue your own token.

Security features

Password: First, in your Guarda wallet’s line of defense is the app/web-trader password that you set during installation.

Seed backup: Like any other non-custodial cryptocurrency vault, Guarda wallet furnishes you with a seed backup for your wallet. You will need it to recover the wallet and private keys therein should you forget the password or lose the phone hosting the wallet.

Non-custodial: Guarda is a non-custodial platform, and this means that the private keys are stored on your device and not on the company’s servers. This minimizes exposure to risk should the wallet company be breached. 

AES data encryption: All the data collected and stored in your Guarda wallet, including the private keys, is further secured using the AES data encryption tool.

Open-sourced code: The Guarda wallet source code is open-sourced. This means that it has been availed to the public and internet security experts; who have audited it to ensure that there are no loopholes that make it susceptible to external hacks or malicious codes that give its developers access to the private keys stored in your wallets.

Ease of use:

The Guarda crypto wallet is very easy to use. It has a highly simplistic and friendly user interface that’s easy to interact with; it is also easy to execute different commands for beginner traders and veterans alike. The app is also highly customizable, allowing you to change such aspects of the wallet app like themes and opt for light or dark mode.

Additionally, while it will only have a few default wallets on the user dashboard upon signing in, the creation of additional coins or tokens is instant. You only have to click on the coin or token you wish to create a wallet from the supported cryptocurrency list and tap ADD. 

Supported currencies and countries

Guarda crypto wallet currently supports over 47 major currencies: Bitcoin, Ethereum, Bitcoin Gold, Bitcoin Cash, Dash, Ripple, Litecoin, and more. It also supports hundreds of ERC 20 and BEP 2 Tokens.

It has established a global presence and currently supports residents of 100+ countries across the world, including 28 member nations of the European Union.

Guarda crypto wallet cost and fees

Acquiring the Guarda wallet and most of the accompanying products like the token generator tool are free.

You will, however, incur variable transaction fees when you exchange or swap cryptocurrencies and cash within the platform. Credit cards, particularly, tend to incur relatively higher fees than other transactions. The wallet app nonetheless lets you know the transaction fee before executing the order.

Customer support

Guarda website has a dedicated FAQ section where clients can get answers to some of the most common questions on how to use the wallet. Personal challenges with the app can also be directed to Guarda’s customer support team by opening ticket support on their website, via email or through their social media handles.

Setting up the Guarda crypto wallet

How to install the Guarda crypto wallet:

Step 1: Head over to the Guarda wallet website and download the app for your specific device, desktop, android, or iOS and install.

Step 2: Launch the app and select “Create New Wallet.”

Step 3: Create a strong password for your account and memorize it or write it down on paper.

Step 4: Click on the download backup to download the 12 words recovery seed.

Step 5: The app will then redirect you to your user dashboard, where you can start buying and selling crypto.

How to buy cryptocurrencies using your Guarda wallet:

Step 1: On your user dashboard, click on the “Buy” tab.

Step 2: On the drop-down menu, select your country of residence.

Step 3: On the buy menu, enter the amount you wish to buy in the “FROM” section and the type of crypto in the “WALLET” section.

Step 4: Choose the preferred payment method and click next (debit/credit card or bank wire).

Step 5: Recheck the purchase details and hit ‘Confirm.’

Step 6: You will then be redirected to the Simplex Payment Gateway to complete the transaction.

How to send cryptos into your Guarda wallet:

Step 1: On your Guarda wallet user dashboard, choose ‘Send.’

Step 2: Enter the number of cryptos you would like to send and the recipient’s wallet address.

Step 3: Review the wallet address and amounts before hitting ‘Confirm.’

Guarda crypto wallet pros and cons:

Pros:

  • A highly innovative and feature-rich crypto wallet that includes a token generator and an in-built exchange platform.
  • Guarda wallet is easy to use as it features a friendly user interface.
  • The wallet is non-custodial and compliments this with multiple security features like the open-sourced code.
  • The chrome extension lets Guarda wallet users interact with a wide range of DApps and the EOS ecosystem.
  • The Guarda wallet can be on multiple devices using different operating systems.

Cons:

  • The in-wallet swaps and exchange fees are higher than the charges at most exchanges
  • The number of cryptocurrencies supported on the platform is considerably  limited
  • It doesn’t support biometric security features or the 2FA

Comparing Guarda wallet with eToro crypto wallet:

eToro and Guarda are both hot wallets. Unlike Guarda, the eToro crypto wallet is custodial, implying that it holds the coins on behalf of the account holders. And in addition to the crypto wallet password used by Guarda wallets, eToro has gone a step further to store the client deposits in cold storage. The fact that eToro is exchange-linked means that the crypto exchange and swap fees are more competitive and that it accepts more withdrawal and deposit options. Guarda, on the other hand, supports more cryptocurrencies than eToro and further exposes its client to DApps.

Comparing Guarda with Trezor hardware wallet

Trezor T hardware wallet supports more cryptocurrencies and stores your digital assets offline away from remote hackers. This makes it a safer option for a crypto investor. On the other hand, while the hot wallet nature of Guarda exposes it to more security threats, it is more user-friendly, more versatile, and cheaper.

Verdict – is Guarda wallet safe?

Several factors lead us to believe that Guarda wallet developers have taken adequate measures to make a secure crypto wallet. These include its open-sourced code, the strong password, and downloadable backup seed, as well as its non-custodial nature. We are, nevertheless, alive to the fact that more could be done to make it safer, including the integration of biometric security features for the mobile apps and enabling the two-factor authorization. Guarda wallet is safe for use for low volume traders and beginners, but you must first invest in good antivirus software for your device.  

Categories
Crypto Market Analysis

Today´s Crypto Events 05.07.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 05.07.2018

Cardano (ADA) — Roadmap Update

Edgeless (EDG) — World Gaming Executive Summit in Barcelona

Loopring [NEO] (LRN) — Airdrop

EagleCoin (EAGLE) — Master Node Public Activation Test

FidentiaX (FDX) — InsurTech Elevate Asia Conference in Singapore

Rise (RISE) — RightBTC Exchange Listing

IronCoin (PRN) — Airdrop Campaign Starts

Loopring (LRC) — Airdrop to LRC Holders

Peculium (PCL) — Webinar

Power Ledger (POWR) — Meetup in Seoul

Rupee (RUP) — New Website Release

Waves (WAVES) — Bitcoin Wednesday Conference in Amsterdam

Chainium (CHX) — Platform Release

Super Game Chain (SGCC) — FCoin Exchange Listing

Pundi X (NPXS) — Wanchain Meetup in Jakarta

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Crypto Market Analysis

Daily Crypto Update 26.06.2018

The Crypto Markets were Recovering yesterday after Weekend Losses but today we are seeing negative 24h numbers in the top 10 currencies. Bitcoin is trading around $6,173 at the moment of this publication, down around -0.45% over the last 24-hours. Yesterday, BTC raised to $6.342 but since then, the price started to go down, crossed the 100-50 EMAs and seems to be bearish for the remaining time of the trading session, according to the indicators. As we said it, the ten first currencies of the market are in red and the one that loses the most at this moment is Ethereum with -3.16%

General Overview

Market Cap: $251.594.440.275

24h Vol: $17.855.718.044 .

BTC Dominance: 42.0%

Suddenly the market that came a little inactive has become bearish and there are some lost in major cryptos, we must be alert to a possible drop.

The market is turning negative in the last hours but it has only lost a Billion in the capital in 24H, contrary to what we were thinking, apparently the market is not going to have a long setback and would like to resume the low levels of the weekend.

News

20 Percent? Japan’s Finance Minister Ponders Crypto Tax Policy Change
Japan’s minister of finance has discussed the possibility of changing the country’s current capital gains policy which sees crypto investors face between 15 and 55 per cent in taxes.

Breaking New Ground: South Africa Gets Its First Bitcoin Atm
South Africa, whose citizens are increasingly interested in investing and trading in cryptocurrencies, is to have its first functional bitcoin Automated Teller Machine (ATM), following up on Zimbabwe and Djibouti.

Crypto Market Remains Relatively Stable: Theta Surges 30% as Tokens Record Big Gains
The crypto market has slightly rebounded by $4 billion over the past 24 hours, providing investors with a breathing room in a major mid-term sell-off and downtrend.

Robinhood Aims to Disrupt Further by Launching a Cryptocurrency Wallet
If established cryptocurrency exchanges didn’t take notice when commission-free trading app Robinhood started offering free cryptocurrency trading earlier in the year, they are likely to now.

Source: ccn.com

Analysis

BTC/USD

Bitcoin is trading around $6,173 at the moment of this publication, down around -0.45% over the last 24-hours. Yesterday, BTC raised to $6,342 but since then, the price started to go down, crossed the 100-50 EMAs and seems to be bearish for the remaining time of the trading session, according to the indicators in this 1H chart. The immediate support is $ 6,131 and next to the Pivot S1 around $6,096.



Market sentiment

4-H chart technicals signal a sell sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 6637.76
R2 6491.77
R1 6370.11
PP 6224.12
S1 6102.47
S2 5956.47
S3 5834.82

LTC/USD

Litecoin price has lost -1.99% in the last 24H after touching yesterday highs around $84.18. The price was moving over the central pivot point during the beginning of the session but this support was lost and now the price is testing the pivot S1 at $78.81 in this 1H chart.



Market sentiment

1-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 90.0820
R2 87.2371
R1 84.4182
PP 81.5733
S1 78.7544
S2 75.9096
S3 73.0906

XRP/USD

XRP has lost -1.17% in the last 24h after finding a strong resistance in the central pivot point around $0.4817 and now is testing the pivot S1 in $0.4711. As like some of the main currencies, XRP comes negative in the last hours. If the Pivot S1 can support the price pressure we could see a bounce to $0.4793, if a breakout happens, a considerable drop can come for the pair.



Market sentiment

1-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 0.5097
R2 0.5006
R1 0.4905
PP 0.4814
S1 0.4713
S2 0.4622
S3 0.4520

Conclusion

There is a new bearish and unexpected scenario today. Although the losses have not been so big, the market is feeling nervous again, which may lead us to go back to the weekend minimums very soon if the selling pressure is still active.

Categories
Crypto Market Analysis

2GIVE/BTC Turned To The Downside

2GIVE (2GIVE)

Market Cap: $2.88M

Circulating Supply: 519.37M 2GIVE

Max Supply: 0 2GIVE

Volume (24h): $11.07K

2GIVE/USD = $0.005658

2GIVE/BTC Technical Analysis

The 2GIVE/BTC rate has dropped significantly today and has reached the 0.00000084 level, but now has squeezed a little in the last hours. We may have a great selling opportunity if the rate will drop further and will close below the  0.00000084 low and below the downside 50% Fibonacci line of the major descending pitchfork. Personally, I believe that only a valid breakout above the outside sliding parallel line (SL) will invalidate the bearish scenario.


 

The rate has made a valid breakdown below the uptrend line which is the same as the lower median line (lml) of the ascending pitchfork, and also failed to reach and retest the SL of the minor descending pitchfork. Price could drop deeper because it stays closer to the downside 50% Fibonacci line of the major descending pitchfork.

The first target it will be at the 50% line and at the 150% line, a breakdown below the mentioned dynamic support lines will send the rate towards the upper median line (UML). Actually, the median line (ML) could attract the rate after the several false breakouts above the upper median line (UML).

Conclusion

The 2GIVE/BTC should drop further if it will close below the 0.00000084 today’s low and below the 50% line of the major descending pitchfork. The first major downside target remains at the ML of the minor descending pitchfork. A Stop Loss can be placed right above the 0.00000105 high.

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Crypto Market Analysis

Dogecoin Could We Have A Breakout?

Dogecoin (DOGE)

Market Cap: $433.90M

Circulating Supply: 114.75B DOGE

Max Supply: 0 DOGE

Volume (24h) $14.08M

Technical Analysis

Dogecoin (DOGE) continues to move higher on the short term after the failure to reach the near-term support levels. The cryptocurrency increased as the crypto market has managed to recover a little after the last corrective phase.  You should know that the perspective remains bearish on the short term because the rate is still trapped below a downtrend line which represents a very strong dynamic resistance.

The rate moves sideways on the short term, so maybe will be better to stay away until we’ll have a valid breakout from this extended range.


 

DOGE/USD has developed a major triangle on the Daily chart and now the rate has failed to approach and reach the downside line signaling a potential reversal. The rate has turned to the upside on the short term, but it remains to see how long this will be because it has increased slowly. The current rebound could be only temporary and it could still drop towards the 0.00288000 – 0.00248254 support area.

Price dropped along the upper median line (uml) of the descending pitchfork,, but failed to reach the first warning line (WL1). It could still reach the WL1 as it is trading very close to it. Dogecoin (DOGE) has managed to breakout above the 150% line and could fight hard to reach the first warning line (wl1) in the upcoming period.

Conclusion

A really great buying opportunity could appear only after a valid breakout above the downtrend line, above the warning line (wl1) and above the 0.00487198 static resistance. The Stop Loss could be placed below a former low.

 

Categories
Crypto Market Analysis

ETH/USD Losing Altitude

Ethereum (ETH)

Market Cap: $52.26B

Circulating Supply: 99.73M ETH

Max Supply: 0 ETH

Volume (24h) $2.09B

Technical Analysis

ETH/USD plunged in yesterday’s trading session and ignored another downside obstacle. Price registered humble gains today, but you should know that the perspective remains bearish on the short term. The crypto market has started to drop after the minor upside movement and could continue this downside movement because we don’t have any reversal signs.

The rate could increase a little in the short term and could test and retest the broken levels before it will drop further.


 

You can see that the price has retested the sliding parallel line (SL) of the descending pitchfork. It has failed to make a breakout above the confluence area formed between the 50% line with the SL. The price dropped below the first warning line (WL1) of the descending pitchfork and below the lower median line (LML) of the ascending pitchfork signaling a further drop.

ETH/USD could come back to test and retest the broken lines. So, we’ll have a great selling opportunity if the price will stay below the lines mentioned.

The current drop is natural and it was expected after the failure to reach the median line (ML). Right now only a false breakdown below the lower median line (lml) of the ascending pitchfork could invalidate a further drop, but is hard to believe that the buyers could force the rate to increase significantly from here.

Conclusion

The perspective remains bearish on the short term as long as the ETH/USD rate stays below the sliding line (SL) of the descending pitchfork. It could drop towards the 400 psychological level because it should be attracted by the 150% lines in the upcoming period. Only a valid breakout above the SL will signal a reversal.

Categories
Crypto Market Analysis

XMR/BTC – Head and Shoulders Seems To Be Confirmed

Monero (XMR)

Market Cap: $2.70B

Circulating Supply: 16.06M XMR

Max Supply: 0 XMR

Volume (24h) $46.72M

Technical Analysis

The XMR/BTC dropped sharply in yesterday’s trading session and most likely it has validated the Head and Shoulders pattern. You can see that the rate has moved sideways on the Daily chart, but now it has made an aggressive breakdown signaling that it could move towards fresh new lows in the upcoming period.



 

Technically, it should drop significantly if the chart pattern was validated. The price failed to stay above the 0.02369701 static support and now seems determined to go down as the crypto market has started an aggressive bearish movement again. All the important cryptocurrencies are moving down after a temporary rebound.

You can notice that the rate has failed to reach and retest the upper median line (UML) of the descending pitchfork signaling a high selling pressure on the short term. Right now it is pressuring the upside 50% Fibonacci line, but it most likely will close below it and will move towards the median line (ML) of the descending pitchfork.

Technically, it should drop towards the 0.013 level after the breakdown below the neckline. We’ll see what happens, but you should know that the perspective remains bearish as long as the rate stays below the UML and much below the 150% Fibonacci line.

Conclusion

The XMR/BTC is expected to drop further after the yesterday’s amazing sell-off. You can still go short on this and you can place your Stop Loss right above the 0.0257100 former high.

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Crypto Market Analysis

Basic Attention Token Remains Bullish

Basic Attention Token (BAT)

Market Cap: $377.29M

Circulating Supply: 1B BAT

Max Supply: 0 BAT

Volume (24h) $5.03M

 

BAT/USD plunged in the last hours and could invalidate a further increase. However, I want to show you a great buying opportunity only if this will be a false breakdown below the lower median line (LML) of the ascending pitchfork.

The rate has it into a corrective phase on the short term after the impressive upside movement. Price has found a strong demand right above an important support area. Right now you should stay away because this could be only a temporary rebound and the rate could drop and could take out the support area.

Basic Attention Token Price Prediction



 

BAT/USD has made a false breakdown below the 50% and below the 61.8% retracement levels. It has increased and has closed above the 38.2% retracement level and above the lower median line (LML) of the ascending pitchfork. A false breakdown below the LML followed by a retest will signal a further increase in the short term.

However, you should know that the rate could take out the support from the outside sliding line (SL) if it will close on it, and will invalidate a further increase.

Conclusion

The perspective will remain bullish as long as the rate stays above the SL of the ascending pitchfork. We may have a buying opportunity only if the rate will stabilise above the 38.2% retracement level and above the LML. The first major upside target will remain at the median line (ML).

Categories
Crypto Market Analysis

INCNT/BTC – Can We Buy It?

 Incent (INCNT)

Market Cap: $15.13M

Circulating Supply: 46.02M INCNT

Max Supply: 0 INCNT

Volume (24h) $45.70K

 

Price is trading in the red right now and is about to reach a very strong dynamic support again. INCNT/BTC erased yesterday’s impressive gains signalling that it continues to remain under massive selling pressure.

The outlook remains bullish on the Daily chart despite the current drop. INCNT/BTC could still increase if the rate will be rejected by the near term dynamic support. The uptrend is still unharmed, that’s why I’ve said that it could increase.



 

The next few days will be crucial because a breakdown will attract more sellers. A false breakdown or a rejecting from the uptrend line will send the rate towards the inside sliding line (SL) of the descending pitchfork. It could take this out if it will close on it.

Only a valid breakout above the sliding line (SL) will announce an important upside movement. Personally, I believe that a breakout above the sliding line (SL) will send the rate much above the UML. So, the bias will remain bullish as long as the rate stays above the uptrend line.

INCNT/BTC failed to retest the 50% Fibonacci line (descending dotted line) signalling that this could be only a temporary drop.

Incent Price Chart (INCNT/BTC)Conclusion

It will increase further if it will stay above the uptrend line. A valid breakout from the descending pitchfork will bring us a great chance to go long on it with an upside target at the WL1.

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Crypto Market Analysis

EOS Bullish Perspective

EOS/USD

Market Cap. $7.301.307.239 USD

Volume (24h) $568.861.000 USD

Circulating Supply: 802.920.263 EOS

Total Supply: 900.000.000 EOS

Max Supply: 1.000.000.000 EOS

 

EOS/USD is trading in the green and tries to stabilize above a broken dynamic resistance. Technically, it is somehow expected to climb much higher in the upcoming period.

EOS/USD is trading in the green

EOS/USD has retested the upper median line (UML) of the former descending pitchfork and now tries to reach new highs. Price climbed above the median line and should approach the 50% Fibonacci level and the sliding line (sl2).

You should know that only a valid breakout above the mentioned resistance levels will confirm a further increase. The false breakdown below the first sliding line (sl1) has signaled that the bulls could take the lead again.

A valid breakout above the sliding line (sl2) and above the 10.0000 psychological could send the rate towards the upper median line (uml) and towards the first warning line (WL1). Resistance can be found at the 150% Fibonacci line as well.

EOS Bullish Perspective

I’ve added an H4 chart to show you what could happen in the upcoming hours. A failure to stabilize above the median line (ml) could signal a minor drop. So, a drop below the sliding line (sl1) followed by a retest will send the rate towards the downside 50% Fibonacci line.

We may have several breakout attempts above the upside sliding line (sl2) and above the 50% Fibonacci level (see the daily chart). The perspective will remain bullish on the daily chart as long as the rate stays somewhere above the UML and within the ascending pitchfork’s body.

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Forex Market Analysis

Consolidation In The Crypto Market

Cryptocurrencies have been stagnant and without many big moves to either side. The reason for that is the uncertainty abbot what happens on the tax day. We see less movement

Cryptocurrencies have been stagnant and without many big moves to either side. The reason for that is the uncertainty abbot what happens on the tax day. We see less movement

Cryptocurrencies have been stagnant and without many big moves to either side. The reason for that is the uncertainty abbot what happens on the tax day. We see less movement in crypto because, whoever wanted to pull their money out before tax date, did already, and we now see only people that hold.

BTC/USD consolidating

After the recent spike due to positive fundamental news (approval of the Muslim community), Bitcoin has its momentum slowed down. It made an attempt over an 8230 Fibonacci retracement line of resistance, but failed and is now consolidating and going slightly downwards, with decreasing volume. The price range is currently between the 50 EMA and 100 EMA on the 1h time frame.

crypto consolidation

NEO/USD bouncing off the resistance line

As we have concluded in the last analysis, neo was in a tough spot, and the most likely thing that would happen to it was the bounce off the red resistance line (shown in the graph). That is exactly what happened to it. This is a big deciding point for NEO, as indicators are “fighting” for the range and the direction of the next movement. RSI just left overbought, volume is declining, and there is a major resistance on the upside, but there are also both EMAs as support, they crossed each other, signaling a bull trend. I am more inclined towards the bear side for a bit until all the indicators get in line.

NEO/USD bouncing off the resistance line

XRP/USD forming a triangle pattern

XRP has recently spiked, after the big announcement that regarded cooperation with Apple. When that happened, XRP spiked up and broke the $0.63 resistance line, which has now become support. It bounced off of it a couple of times, forming a perfect triangle pattern, with the expected breakout from the pattern around the 19th or 20th of April. It will most likely be an upwards move, but it can’t be said with certainty. EMAs and the support line form a “defense” against triangle patter break downwards, but ultimately, people will decide.

XRP/USD forming a triangle pattern

Final word

Markets are mostly consolidating since these are uncertain times fundamentally. Everyone is waiting for a catalyst, for a reason to re-enter the market. The next few days will determine the overall short-term trend of the market, so watch out for the swing trades for now. One thing is good, and that is the increasing volume in the general crypto market.

© Forex.Academy