Technical Analysis of Tronix

Launched in 2017, TRON is a blockchain-based entertainment content sharing platform that aims to transform the global entertainment industry. TRON has own cryptocurrency known as Tronix (TRX) and lots of financial institutions and technical specialists are already supporting the TRON network. According to some estimates, TRON has a bright future because this network allows users to create content, websites and applications without having to rely on centralized services. The positive thing is that lots of partners are already supporting the TRON network, TRON partners include the likes of Gifto, Game.com, oBike, Peiwo among others (on the official website, you can find all TRON partners). We can say that the price of Tronih has stabilized around $0.020 but in my opinion, this is a highly speculative cryptocurrency and still very risky. As long as TRX is below $0.05 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.020 and $0.030 – If the TRX jumps above $0.030 that would be a “BUY” signal and the open way to $0.035. If the TRX jumps above  $0.05 that could be a strong signal of the trend reversal and the open way to $0.08. On the other side, if the TRX falls below $0.020 that will be a strong signal “SELL” signal and the next target could be around $0.015.

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, TRX remains in bearish phase but if the price advances above $0.030 next targets could be located around $0.035 and $0.050. On the other side, if the TRX falls below $0.020 that will be a strong signal “SELL” signal and the next target could be around $0.015.

Technical Analysis of IOTA

IOTA is a cryptocurrency designed for the Internet of Things (IoT), there is no concept of blockchain and there are no transaction fees. According to analysts, IOTA has very big potential in real-world applications and IOTA was planned from the beginning to interact with everything. IOTA has already teamed up with the likes of Accenture and Deutsche Telekom, with ambitions for additional big partners in the future. IOTA can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $4 in the next several years. The price of IOTA has been trading in $0.20-$0.40 range for a while and according to technical analysis, the downtrend is still very strong. When we look at the 1-year chart we can see that IOTA is moving in “downtrend” and as long IOTA is below $1 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.2 and $0.4 – If the IOTA jumps above $0.5 that would be a “BUY” signal and the open way to $0.6. If the IOTA 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 IOTA falls below $0.2 that will be a strong signal “SELL” signal and the next target could be around $0.15.

Advice: My opinion is that IOTA could be a very good investment opportunity and putting a reasonable amount of money into IOTA could potentially turn out to be an excellent investment. IOTA enables companies to explore new business-2-business models by making every technological resource a potential service to be traded on an open market in real time, with no fees. According to the rules of technical analysis, the “bearish” trend of this cryptocurrency is still very strong. If the price of IOTA advances above $1, short-term traders can enter the position with the stop loss at $0.9 and take profit at $1.3 or even $1.5.
 

Technical Analysis of Dash

Dash was one of the best performers on the cryptocurrency market in the last three months, in less than ninety days the price of Dash has advanced from$64 to $140. Dash is a privacy-focused cryptocurrency that was released in early 2014 under the original name of DarkCoin (DRK). The main advantages of this cryptocurrency are: low fees, quick confirmation times and a moderate level of anonymity. It is also important to say that Dash solves two of Bitcoin’s biggest problems: speed of transactions and the lack of privacy. In my opinion, this is still very risky cryptocurrency but Dash can be a very good investment option and some predictions say that this cryptocurrency could be above $1 000 in the next several years. When we look at the 1-year chart we can see that Dash is moving in “downtrend”. As long Dash is below $400 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $100 and $150 – If the Dash jumps above $200 that would be a “BUY” signal and the open way to $300 or even $400. If the Dash 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 Dash falls below $100 that will be a strong signal “SELL” signal and the next target could be around $80.

Advice: The last several weeks have been very positive for the cryptocurrency market and the price of Dash currently stands around $121. According to estimates, Dash is one of the cryptocurrencies which you should definitely not ignore and this cryptocurrency might still be undervalued despite all the problems. The positive thing is that lots of partners are already supporting this cryptocurrency and Dash is already connected with various payment programs. As for the technical picture, the Dash remains in bearish phase but if the price advances above $200 next targets could be located around $280 and $300. On the other side, if the Dash falls below $100 that will be a strong signal “SELL” signal and the next target could be around $80.

Technical Analysis of Ripple

Ripple (XRP) is one of the most popular cryptocurrencies in the market and according to some analysts, XRP can rise to $5 in 2019. This is a still very optimistic scenario in my opinion but it is important to say that XRP 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. Ripple is consistently adding new clients, many financial institutions are also using the Ripple protocol in order to transfer money from one part of the globe to another. Some important names include UniCredit, UBS & Santander, Global Payments Steering Group. If any of the large banks implement the Ripple protocol, this cryptocurrency can easily rise above $2 – $3. It all depends on the partnerships which it is forging with various companies all over the world. The price of Ripple currently stands around $0.33 and according to technical analysis, the downtrend is not over yet. When we look at the 1-year chart we can see that Ripple is moving in “downtrend” and as long Ripple is below $1 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.3 and $0.4 – If the Ripple jumps above $0.6 that would be a “BUY” signal and the open way to $0.8. If the Ripple 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 XRP falls below $0.3 that will be a strong signal “SELL” signal and the next target could be around $0.25.

Advice: Ripple has a mission to become the go-to blockchain for big banks and financial institutions. Ripple can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $5 in the next several years. Yes, it is true that the price could fall even more but the current price of XRP stands around $0.33 and this is very close to strong support which stands at $0.30. My opinion is that XRP could be a very good investment opportunity and putting a reasonable amount of money into XRP could potentially turn out to be an excellent investment. As for the technical picture, the XRP remains in bearish phase but if the price advances above $1, short-term traders can enter the position with the stop loss at $0.9 and take profit at $1.3 or even $1.5.
 

Technical Analysis of Ethereum Classic

Ethereum Classic was one of the best performers on the cryptocurrency market in the last two months, in less than sixty days the price of Ethereum Classic has advanced from$3.5 to almost $8. Starting life as Ethereum, Ethereum Classic (and its value token, ETC) is the result of a long debate over how cryptocurrencies should handle disagreements within the community and data hacks. In my opinion, this is still very risky cryptocurrency but Ethereum Classic can be a very good investment option and some predictions say that this cryptocurrency could be above $100 in the next several years. When we look at the 1-year chart we can see that Ethereum Classic is moving in “downtrend” and as long Ethereum Classic is below $20 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $6 and $8 – If the Ethereum Classic jumps above $10 that would be a “BUY” signal and the open way to $12 or even $16. If the Ethereum Classic jumps above  $20 that could be a strong signal of the trend reversal and the open way to $30. On the other side, if the Ethereum Classic falls below $5 that will be a strong signal “SELL” signal and the next target could be around $4.

Advice: The last several weeks have been very positive for the cryptocurrency market and the price of Ethereum Classic currently stands around $6.25. Ethereum Classic is a peer-to-peer computing platform and the main advantage of Ethereum Classic is that this platform is more secure compared to Ethereum’s platform. According to estimates, ETC 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 Ethereum Classic remains in bearish phase but if the price advances above $10 next targets could be located around $12 and $15. On the other side, if the Ethereum Classic falls below $5 that will be a strong signal “SELL” signal and the next target could be around $4.

Technical Analysis of Polymath

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. In less than 30 days the price of Polymath has advanced from $0.095 above $0.1500 and the current price stands around $0.1134. According to estimates, Polymath (POLY) is one of the cryptocurrencies which you should definitely not ignore but in my opinion, this is a highly speculative cryptocurrency and still very risky. When we look at the 1-year chart we can see that Polymath (POLY) is moving in “downtrend”. As long Polymath is below $0.40 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.10 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 $0.1 that will be a strong signal “SELL” signal and the next target could be around $0.05.

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. 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 below $0.10 that will be a strong signal “SELL” signal and the next target could be around $0.05.

Technical Analysis of Litecoin

In less than 30 days the price of Litecoin has advanced from $52 above $98 and the current price stands around $79. Lots of analysts agree that Litecoin is currently at a point where it has the potential to make very big gains and the current situation represents a very good entry point for long-term investors. Litecoin was created by a Google employee Charles Lee, this project has very good team of software developers and a large community that is growing. When we look at the 1-year chart we can see that Litecoin is moving in “downtrend”. As long Litecoin is below $100 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $70 and $100 – If the Litecoin jumps above $90 that would be a “BUY” signal and the open way to $100. If the Litecoin jumps above  $100 that could be a strong signal of the trend reversal and the open way to $150. On the other side, if the LTC falls below $70 that will be a strong signal “SELL” signal and the next target could be around $60.

Advice: 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. The beginning of April has been very positive for the cryptocurrency market and the price of Litecoin currently stands around $79. 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. As for the technical picture, the Litecoin remains in bearish phase but if the price advances above $100, short-term traders can enter the position with the stop loss at $90 and take profit at $120 or even $150.

Technical Analysis of Zcash

In less than 30 days the price of Zcash has advanced from $50 above $77 and the current price stands around $69. 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. 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. 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: The beginning of April has been very positive for the cryptocurrency market and the price of Zcash currently stands around $69. Despite this, the cryptocurrency market is still under the pressure and for now, there is no important reason to change this negative trend. 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 NEO

NEO was one of the best performers on the cryptocurrency market in the last several weeks, in less than 30 days the price of NEO has advanced from $8.5 above $14 and the current price stands around $11.5. NEO is a platform and China’s first-ever open-source blockchain in which users can issue and trade assets. NEO cryptocurrency represents an ownership of the NEO platform and allows users to vote on protocol changes on the NEO blockchain. 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. 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 $10 and $15 – If the NEO jumps above $15 that would be a “BUY” signal and the open way to $18 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 $10 that will be a strong signal “SELL” signal and the next target could be around $9.

Advice: My opinion is that NEO could be a very good investment opportunity and putting a reasonable amount of money into NEO could potentially turn out to be an excellent investment. 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 Cash

Bitcoin Cash is one of the best performers on the cryptocurrency market in the last several weeks, in less than 30 days the price of Bitcoin Cash has advanced from $125 above $350. The beginning of April has been very positive for the cryptocurrency market so far, the price of Bitcoin is above $5000 and this is certainly a positive thing for all other cryptos. In an effort to improve the efficiency of transactions, Bitcoin Cash broke off from the original bitcoin network on 1 August 2017. 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. When we look at the 1-year chart we can see that Bitcoin Cash is moving in “downtrend” and as long Bitcoin Cash is below $1 000 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $200 and $350 – If the Bitcoin Cash jumps above $400 that would be a “BUY” signal and the open way to $450 and $500. 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 $200 that will be a signal “SELL” signal and the next target could be around $150.

Advice: The beginning of April has been very positive for the cryptocurrency market and the price of Bitcoin Cash currently stands around $300. 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. As for the technical picture, the Bitcoin Cash still remains in bearish phase but if the price advances above $400, short-term traders can enter the position with the stop loss at $380 and take profit at $470 or even $500.