Tron Price (TRX) Still Going Down, But Technicals Show Positive Future

The Tron price (TRX) lost a good deal of its value over the last three days. On Friday, July 20, Tron is trading at $0.0349, losing around 8% in 24 hours. Technically, TRX is trading within a range on D1, with the major support at $0.0230, and the resistance at $0.1004. In the midterm, Tron is trading within a descending channel, trying to reach the major support. Meanwhile, the Stochastic is converging, which signals a possibility of ascending correction. This will be confirmed once the resistance of the current channel…

Money is Moving From Tokens Back to BTC

Throughout May and June, even during bear markets and strong downward movements, tokens performed relatively well against bitcoin. So far, in July, bitcoin has proven its dominance through a stable performance against the US dollar. Why Bitcoin is King, For Now Over the past three months, tokens have had a solid basis to increase in volume and price, mainly due to two major factors: the approval of ether by the US Securities and Exchange Commission (SEC) as a non-security and the unforeseen move of Coinbase to add two tokens in…

EOS Leads China’s Blockchain Rankings Again, Bitcoin Still Out of Top 15

The Chinese government has released its third round of public blockchain rankings, and EOS — the fifth-largest cryptocurrency by total market cap — once again reigned supreme. EOS Tops China’s Blockchain Rankings for Second-Straight Month Those rankings, published by the state-backed China Electronic Information Industry Development (CCID) and released this week, evaluated public blockchain networks according to three metrics, roughly translated as technology, applicability, and innovation, which were then compiled into an overall index score. Though scoring below its peers on applicability (middle column), EOS led the rankings with an…

Crypto Market Slightly Struggles After Mini Bull Run, Ripple Down 5%

Subsequent to demonstrating a mini-rally on July 18, the crypto market has declined by $12 billion, triggered by a large drop in the value of tokens. Ripple’s Downtrend Since Wednesday, bitcoin, the most dominant cryptocurrency in the market, has performed relatively well against the US dollar. Its volume, which remained below $3.5 billion last week, has rebounded to $5.2 billion, and tripled on the global market’s largest crypto exchange Binance. As of July 20, the price of bitcoin remains above the $7,470 mark, down less than 1.5 percent from its…

Bitcoin Price Watch: Can BTC/USD Hold This?

Key Points Bitcoin price is consolidating below a key resistance at $7,555 against the US Dollar. There is a connecting bullish trend line forming with support at $7,390 on the hourly chart of the BTC/USD pair (data feed from Kraken). A break below $7,380 could trigger a major downward correction towards $7,100. Bitcoin price is finding it hard to move past $7,555 and $7,575 against the US Dollar. BTC/USD must stay above $7,380 to avoid a downside reaction. Bitcoin Price Analysis Bitcoin price mostly traded in a range above near…

Cardano Price Analysis: ADA/USD Approaching Key Support

Key Highlights ADA price surged towards the $0.2000 level before starting a downside correction against the US Dollar (tethered). There is a significant bullish trend line formed with support at $0.1700 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is correcting lower, but it remains well supported above the $0.1700 level. Cardano price is placed nicely in a bullish zone against the US Dollar, Ethereum and Bitcoin. ADA/USD remains buy on dips near $0.1700. Cardano Price Analysis There were further gains in cardano price…

Ripple Price Analysis: XRP/USD Turned Bearish?

Key Highlights Ripple price broke a major support area near $0.4750 to move into a bearish zone against the US dollar. There is a key bearish trend line in place with resistance at $0.4700 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must move back above $0.4750 and the 100 hourly simple moving average to recover. Ripple price is under significant pressure against the US Dollar and Bitcoin. XRP/USD is likely to extend declines if it fails to move back above $0.4750. Ripple Price…

Ethereum Price Analysis: ETH/USD Facing Uphill Task

Key Highlights ETH price declined further and broke the $482 and $475 support levels against the US Dollar. There is a major bearish trend line formed with resistance near $475 on the hourly chart of ETH/USD (data feed via Kraken). The pair has to move above the $475 and $480 resistance levels to move into a bullish zone. Ethereum price is under pressure against the US Dollar and Bitcoin. ETH/USD must move above $475 and the 100 hourly SMA to initiate a recovery. Ethereum Price Resistance There were further losses…

Tron (TRX) Price Watch: More Bulls Ready to Join This Retest?

Tron Price Key Highlights Tron recently broke past a descending trend line on the 4-hour chart to signal a reversal from the downtrend. Price hit resistance at 0.0435 and is in the middle of a correction from the rally. Using the Fibonacci retracement tool shows the near-term support levels where buyers might be waiting. Tron is in the middle of a pullback from its recent surge higher, and buyers might be waiting at the Fib retracement levels. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA…

Bitcoin Cash Price Analysis: BCH/USD Holding Key Support

Key Points Bitcoin cash price is holding an important support near $800 against the US Dollar. There is a contracting triangle forming with support near $805 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair has to move above the $830 and $840 resistances to gain traction in the near term. Bitcoin cash price remains supported above $800 against the US Dollar. BCH/USD is about to make the next move either above $830 or below $800. Bitcoin Cash Price Resistance Yesterday, we saw a minor…