Technical Analysis of Polymath

The cryptocurrency market is advancing this Sunday and it is very important that the price of Bitcoin is again near $8 000. The current price of Polymath (POLY) is close to the strong resistance level which stands at $0.10 but it is important to say that the price of this cryptocurrency advanced recently above $0.11. The Polymath Network is a blockchain-based system to coordinate and incentivize participants to collaborate and launch financial products on the blockchain. Polymath has own token known as POLY and this token is used to issue securities on Polymath and interact with the platform. When we look at the 1-year chart we can see that Polymath (POLY) is moving in “downtrend”. As long Polymath is below $0.4 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.08 and $0.20 – If the Polymath jumps above $0.20 that would be a “BUY” signal and the open way to $0.30 or even $0.35. If the Polymath jumps above  $0.40 that could be a strong signal of the trend reversal and the open way to $0.50. On the other side, if the Polymath falls below $0.08 that will be a strong signal “SELL” signal and the next target could be around $0.05.

Advice: There is a correlation between the price movements of Bitcoin and other cryptocurrencies and the positive thing for the cryptocurrency market is that the price of Bitcoin has stabilized above $7 000. In my opinion, this is a highly speculative cryptocurrency and still very risky, I would invest only a small sum of money in this cryptocurrency. According to estimates, Polymath (POLY) is one of the cryptocurrencies which you should definitely not ignore and this cryptocurrency might still be undervalued despite all the problems. As for the technical picture, the Polymath remains in bearish phase but if the price advances above $0.40 next targets could be located around $0.50 and $0.60. On the other side, if the Polymath falls once again below $0.08 that will be a strong signal “SELL” signal and the next target could be around $0.05.

Technical Analysis of Zcash

The cryptocurrency market has stabilized this Saturday and it is very important that the price of Bitcoin is above $7 000. Zcash was one of the best performers on the cryptocurrency market in the last several days, in less than five days the price of Zcash has advanced from $60 above $80 and the current price stands around $72. Zcash is a cryptocurrency with a strong emphasis on privacy and identity protection. Zcash maintains the features of a public blockchain while enabling completely anonymous transactions. Zcash is different from Bitcoin because Zcash only shows that a transaction occurred while the Bitcoin blockchain keeps a record of every transaction. This cryptocurrency can also be used as payment and the positive thing is that lots of partners are already supporting the Zcash. In my opinion, this is a highly speculative cryptocurrency and still very risky but lots of analysts agree that Zcash (ZEC) is currently at a point where it has the potential to make very big gains. When we look at the 1-year chart we can see that ZEC is moving in “downtrend”. As long ZEC is below $200 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $50 and $100 – If the ZEC jumps above $100 that would be a “BUY” signal and the open way to $130 or even $150. If the ZEC jumps above  $200 that could be a strong signal of the trend reversal and the open way to $250. On the other side, if the ZEC falls below $50 that will be a strong signal “SELL” signal and the next target could be around $40.

Advice: There is a correlation between the price movements of Bitcoin and other cryptocurrencies and the positive thing for the cryptocurrency market is that the price of Bitcoin has stabilized above $7 000. In my opinion, this is a highly speculative cryptocurrency and still very risky, I would invest only a small sum of money in this cryptocurrency. As for the technical picture, the ZEC remains in bearish phase but if the price advances above $100 next targets could be located around $130 and $150. On the other side, if the ZEC falls below $50 that will be a strong signal “SELL” signal and the next target could be around $40.
 
 
 

Technical Analysis of Litecoin

The cryptocurrency market is advancing this week, the price of Bitcoin is above $8 000 and this is certainly a positive thing for all other cryptos. Litecoin is one of the best performers on the cryptocurrency market in the last several days, in less than five days the price of Litecoin has advanced from $75 above $103 and the current price stands around $100. Litecoin is a very interesting cryptocurrency to monitor since it appears to hold a number of advantages over Bitcoin. Litecoin has a faster block-processing rate that keeps miners intrigued (and rewarded), has a more decentralized proof-of-work algorithm than Bitcoin and lower transaction settlement times and fees. Litecoin was created by a Google employee Charles Lee, this project has a very good team of software developers and a large community that is growing. Lots of analysts agree that Litecoin has the potential to make very big gains in the upcoming period, short term support and resistance levels are $90 and $120 – If the Litecoin jumps above $150 that would be a “BUY” signal and the open way to $180. If the Litecoin jumps above  $200 that could be a strong signal of the trend reversal and the open way to $300. On the other side, if the LTC falls below $80 that will be a strong signal “SELL” signal and the next target could be around $70.

Advice: This trading week is very positive for the cryptocurrency market so far and the price of Litecoin currently stands around $100. Litecoin can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $300 in the next two years. Technically looking, if the price advances above $150, short-term traders can enter the position with the stop loss at $138 and take profit at $180 or even $200.
 
 

Technical Analysis of Bitcoin Cash

The beginning of May has been very positive for the cryptocurrency market so far, the price of Bitcoin is very close to $8 000 and this is certainly a positive thing for all other cryptos. Bitcoin Cash is one of the best performers on the cryptocurrency market in the last several days, in less than five days the price of Bitcoin Cash has advanced from $270 above $400 and the current price stands around $394. According to some estimates, Bitcoin Cash will not be able to replace Bitcoin and many skeptics believe it may not survive in the long-term. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. When we look at the 1-year chart we can see that Bitcoin Cash is moving in “downtrend”. As long Bitcoin Cash is below $1 000 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $350 and $450 – If the Bitcoin Cash jumps above $500 that would be a “BUY” signal and the open way to $550 and $600. If the Bitcoin Cash jumps above  $1 000 that could be a strong signal of the trend reversal and the open way to $1 500. On the other side, if the BTH falls below $350 that will be a “SELL” signal and the next target could be around $300.

Advice: Bitcoin Cash aims to take Bitcoin in a new direction geared towards faster transaction speeds and lower fees. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. As for the technical picture, the Bitcoin Cash still remains in bearish phase but if the price advances above $500, short-term traders can enter the position with the stop loss at $480 and take profit at $570 or even $600.
 

Technical Analysis of Ethereum

Ethereum is one of the best performers on the cryptocurrency market in the last two days, in less than 48 hours the price of Ethereum has advanced from $164 above $198 and the current price stands around $197. The beginning of May has been very positive for the cryptocurrency market so far, the price of Bitcoin is above $6 900 and this is certainly a positive thing for all other cryptos. It is also important to mention that there is a correlation between the price movements of Bitcoin and other cryptocurrencies. Ethereum is an open source development platform that allows developers to build and deploy decentralized apps (dapps). This cryptocurrency has the largest developer community and that Ethereum’s proof of concept is popular among institutional investors. In my opinion, there’s a very good reason to pay attention to it rather than Bitcoin: a lot of popular projects are launched using the Ethereum blockchain and this platform has big businesses’ attraction to its blockchain. When we look at the 1-year chart we can see that Ethereum is moving in “downtrend”. As long Ethereum is below $400 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $150 and $200 – If the Ethereum jumps above $200 that would be a “BUY” signal and the open way to $250. If the Ethereum jumps above  $400 that could be a strong signal of the trend reversal and the open way to $500. On the other side, if the ETH falls below $150 that will be a signal “SELL” signal and the next target could be around $130.

Advice: If the price advances above $200, short-term traders can enter the position with the stop loss at $190 and take profit at $250 or even $300. The beginning of May has been very positive for the cryptocurrency market and the price of Ethereum currently stands around $197. Ethereum can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $2000 in the next two years.
 

Technical Analysis of KyberNetwork

KyberNetwork was one of the best performers on the cryptocurrency market in the first three months of the 2019 year, in less than 90 days the price of KyberNetwork has advanced from $0.13 above $0.40 but the current price stands around $0.20. KyberNetwork is designed to provide the instant exchange of digital assets and cryptocurrencies with high liquidity. The KyberNetwork Crystal token (KNC) is used to pay fees on the KyberNetwork platform. According to some estimates, KNC has a bright future because a peer to peer system will become the only way to manage your cryptocurrency and cryptocurrency exchanges will go extinct. KyberNetwork also provides payment APIs that will allow Ethereum accounts to easily receive payments from any crypto tokens. The positive thing is that lots of partners are already supporting the KyberNetwork, KyberNetwork partners include the likes of interconnecting blockchain network ICON and Ethereum payment service Coinduck among others. The beginning of May has been very positive for the cryptocurrency market so far, the price of Bitcoin is above $6000 and this is certainly a positive thing for all other cryptos. When we look at the 1-year chart we can see that KNC is moving in “downtrend”. As long KNC is below $1 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.20 and $0.30 – If the KNC jumps above $0.4 that would be a “BUY” signal and the open way to $0.6 or even $0.8. If the KNC jumps above  $1 that could be a strong signal of the trend reversal and the open way to $1.5. On the other side, if the KNC falls below $0.20 that will be a “SELL” signal and the next target could be around $0.15.

Advice: In my opinion, this is a highly speculative cryptocurrency and still very risky, I would invest only a small sum of money in this cryptocurrency. As for the technical picture, the KNC remains in bearish phase but if the price advances above $0.40 next targets could be located around $0.60 and $0.80. On the other side, if the KNC falls below $0.15 that will be a strong signal “SELL” signal and the next target could be around $0.10.

Technical Analysis of NEO

NEO is a platform and China’s first-ever open-source blockchain in which users can issue and trade assets. NEO cryptocurrency represents ownership of the NEO platform and allows users to vote on protocol changes on the NEO blockchain. This cryptocurrency is previously known as Antshares and is often considered China’s response to Ethereum. NEO can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $200 in the next several years. The team behind NEO is very good and its founder Da hongfei is a great expert and a good leader. Another positive thing for NEO is that the Chinese government has embraced the platform, while simultaneously distancing itself from other cryptocurrencies like Ethereum and Bitcoin. NEO was one of the best performers on the cryptocurrency market in the first three months of the 2019 year, in less than 90 days the price of NEO has advanced from $7 above $14 but the current price stands around $9.6. When we look at the 1-year chart we can see that NEO is moving in “downtrend”. As long NEO is below $40 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $8 and $10 – If the NEO jumps above $11 that would be a “BUY” signal and the open way to $15 or even $20. If the NEO jumps above  $40 that could be a strong signal of the trend reversal and the open way to $60. On the other side, if the NEO falls below $8 that will be a strong signal “SELL” signal and the next target could be around $7.

Advice: According to estimates, this cryptocurrency has a bright future but I would invest only a small sum of money in NEO.  As for the technical picture, the NEO remains in bearish phase but if the price advances above $20, short-term traders can enter the position with the stop loss at $18 and take profit at $25 or even $30.

Technical Analysis of Bitcoin

Bitcoin is one of the best performers on the cryptocurrency market in the last several days, in less than five days the price of Bitcoin has advanced from $5 077 to $5 823. The beginning of May has been very positive for the cryptocurrency market so far, the price of Bitcoin is above $5 700 and this is certainly a positive thing for all other cryptos. Bitcoin is the first cryptocurrency to have existed and receive wide acceptance, it enjoys the support of both developers and users communities. Bitcoin cannot be stopped by the “hardfork” and this cryptocurrency can be accessed by everyone on the internet. The highest price of Bitcoin was above $19 000, a number of reasons have pushed Bitcoin to record highs, such as legalization of the currency in Japan for payments, boosted interest from other big countries, as well as the conclusion of a debate about the future of the cryptocurrency. When we look at the 1-year chart we can see that Bitcoin is moving in “downtrend”.  Short term support and resistance levels are $ 5 000 and $6 000 – If the Bitcoin jumps above $6 000 that would be a “BUY” signal and the open way to $7 000. If the Bitcoin jumps above  $10 000 that could be a strong signal of the trend reversal and the open way to $12 000. On the other side, if the BTC falls below $4 500 that will be a strong signal “SELL” signal and the next target could be around $4 000 or even $3 500.

Advice: The price of Bitcoin currently stands around $5 730 and there is a correlation between the price movements of Bitcoin and other cryptocurrencies. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. As for the technical picture, the Bitcoin remains in bearish phase but if the price advances above $6 000, short-term traders can enter the position with the stop loss at $5 800 and take profit at $6 800 or even $7 000.

Technical Analysis of Cardano

Cardano is entirely open source that aims to establish a smart contract platform which focuses on more advanced features. According to the official website, this platform will deliver more advanced features than any protocol previously developed. Some analysts say that this project is being built from the ground up and aims to be the most practical and effective cryptocurrency network ever made. Cardano has own cryptocurrency known as ADA which is designed to work well with regulations and to be accessible to almost anyone. In my opinion, this is a highly speculative cryptocurrency and still very risky but lots of analysts agree that Cardano (ADA) is currently at a point where it has the potential to make very big gains. When we look at this chart we can see that Cardano is moving in “sideways”. As long as Cardano (ADA) is below $0.10 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.06 and $0.08 – If the Cardano jumps above $0.08 that would be a “BUY” signal and the open way to $0.09. If the Cardano jumps above  $0.10 that could be a strong signal of the trend reversal and the open way to $0.15. On the other side, if the Cardano falls below $0.06 that will be a strong signal “SELL” signal and the next target could be around $0.05.

Advice: According to estimates, this cryptocurrency has a bright future but I would invest only a small sum of money in Cardano. In my opinion, this project is still very risky and faces several problems. As for the technical picture, Cardano (ADA) remains in bearish phase but if the price advances above $0.10 next targets could be located around $0.12 and $0.15. On the other side, if the ADA falls below $0.060 that will be a strong signal “SELL” signal and the next target could be around $0.050.
 

Technical Analysis of Stellar

Stellar is a secure platform designed to provide access to an affordable and open financial system making it easier for users to achieve financial independence. According to some analysts, this platform can be the future of banking because it strives to provide a practical solution to key global issues. Stellar has own cryptocurrency known as Lumens ($XLM) and lots of financial institutions and technical specialists are already supporting the Stellar network. Stellar partners include the likes of IBM, Deloitte, Stripe, NEC Payments, Gramio Technologies, Distributed Lab among others (on the official website, you can find all Stellar partners). This is a highly speculative cryptocurrency and still very risky but lots of analysts agree that XLM is currently at a point where it has the potential to make very big gains. When we look at the 1-year chart we can see that Stellar is moving in “downtrend” and as long as Stellar (XLM) is below $0.30 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.08 and $0.15 – If the Stellar jumps above $0.20 that would be a “BUY” signal and the open way to $0.30. If the XLM jumps above  $0.30 that could be a strong signal of the trend reversal and the open way to $0.40. On the other side, if the XLM falls below $0.08 that will be a strong signal “SELL” signal and the next target could be around $0.06.

Advice: This is a highly speculative cryptocurrency and still very risky but XLM has a very good risk/reward ratio in the market right now which means you stand to gain a lot more for taking a comparatively smaller risk. Yes, it is true that the price could fall even more but the current price of XLM stands around $0.097 and this is very close to strong support which stands at $0.080. As for the technical picture, XLM remains in bearish phase but if the price advances above $0.30, short-term traders can enter the position with the stop loss at $0.28 and take profit at $0.40 or even $0.50.