Technical Analysis of Ethereum

Ethereum is one of the best performers on the cryptocurrency market in the last several days, in less than five days the price of Ethereum has advanced from$140 to $180. 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. Ethereum is an open source development platform that allows developers to build and deploy decentralized apps (dapps). Ethereum uses Ether (ETH) as its token and it is important to say that ETH is the third-largest cryptocurrency in terms of market cap behind Bitcoin and Ripple. 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: The beginning of April has been very positive for the cryptocurrency market and the price of Ethereum currently stands around $172. 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. 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. As for the technical picture, the ETH remains in bearish phase but 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.
 

Technical Analysis of Bitcoin

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. 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. 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 is moving in “downtrend”.  Short term support and resistance levels are $ 5000 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 $5 140 and there is a correlation between the price movements of Bitcoin and other cryptocurrencies. Investors who decided to invest in the Bitcoin when the trading was at its tiny fraction when compared to the highest price of this cryptocurrency, made the highest profit you could ever think of. The beginning of April has been very positive for the cryptocurrency market but all major cryptocurrencies are still under the pressure. 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 KyberNetwork

All major cryptocurrencies are advancing this Tuesday, the price of Bitcoin is very close to $5000 and this is certainly positive for the cryptocurrency market. In only several days the price of Kyber Network has advanced from $0.25 above $0.38 which represents more than 50%. The KyberNetwork Crystal token (KNC) is used to pay fees on the KyberNetwork platform. 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. In my opinion, this is a highly speculative cryptocurrency and still very risky but lots of analysts agree that KyberNetwork (KNC) 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 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 $0.30 and $0.40 – 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 $0.30 that will be a “SELL” signal and the next target could be around $0.20.

Advice: The cryptocurrency market has posted significant recovery this Tuesday but the negative trend is still strong. 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. 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 $0.30 that will be a “SELL” signal and the next target could be around $0.20.
 
 

Technical Analysis of IOTA

According to the rules of technical analysis, the “bearish” trend of this cryptocurrency is still very strong. Some analysts believe that the end capitulation is right around the corner and they hope that this 15-month-long correction was a lesson to those new to crypto investing. 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 has already teamed up with the likes of Accenture and Deutsche Telekom, with ambitions for additional big partners in the future. IOTA is a cryptocurrency designed for the Internet of Things (IoT). There is no concept of block or blockchain and thus no concept of mining. This also means there are no transaction fees. It uses a different data structure, tangle, which is based on a directed acyclic graph. 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: The positive news for the cryptocurrency market is that the price of Bitcoin advanced again above $4000. IOTA 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. 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. As for the technical picture, the IOTA 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 Dash

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. 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. It is also important to say that Dash solves two of Bitcoin’s biggest problems: speed of transactions and the lack of privacy. 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 $90 and $100 – 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 $90 that will be a strong signal “SELL” signal and the next target could be around $80.

Advice: All major cryptocurrency have advanced in the last several weeks but despite this, the cryptocurrency market is still under the pressure and for now, the “bearish” trend remains intact. The price of Dash is still under the pressure and for now, we can not see the “light” at the end of the tunnel. 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. 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.
 
 
 

Technical Analysis of Bitcoin Cash

All major cryptocurrency have advanced in the last several weeks but despite this, the cryptocurrency market is still under the pressure and for now, the “bearish” trend remains intact. The price of Bitcoin Cash has advanced from $105 above $160 in less than 60 days and the current price stands around $154. 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” and as long Bitcoin Cash is below $1 000 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $100 and $200 – If the Bitcoin Cash jumps above $200 that would be a “BUY” signal and the open way to $250 and $300. 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 $100 that will be a signal “SELL” signal and the next target could be around $80 or even $50.

Advice: Bitcoin Cash aims to take Bitcoin in a new direction geared towards faster transaction speeds and lower fees. The price of Bitcoin Cash has been in the “bearish” phase since January 2018 but we can not say that the lowest price in December 2018 is the end of this phase. 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 remains in bearish phase but if the price advances above $200, short-term traders can enter the position with the stop loss at $185 and take profit at $250 or even $300.

Technical Analysis of Bitcoin

The price of Bitcoin is again above $4000 but the cryptocurrency market is still under the pressure and for now, the “bearish” trend remains intact. 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 $3 500 and $4 500 – If the Bitcoin jumps above $5 000 that would be a “BUY” signal and the open way to $6 000. 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 $3 500 that will be a strong signal “SELL” signal and the next target could be around $3 000 or even $2 500.

Advice: The price of Bitcoin has been in the “bearish” phase since January 2018 but we can not say that the lowest price in December 2018 is the end of this phase. 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 $5 000, short-term traders can enter the position with the stop loss at $4 800 and take profit at $5 800 or even $6 000.

Technical Analysis of Ethereum Classic

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. The price of Ethereum Classic has been in the “bearish” phase since January 2018 but we can not say for sure that the lowest price in December 2018 was the end of this phase. 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 $4 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 $4 that will be a strong signal “SELL” signal and the next target could be around $3.

Advice: 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 $4 that will be a strong signal “SELL” signal and the next target could be around $3.5.

Technical Analysis of Ripple

The price of Ripple has been in the “bearish” phase since January 2018 but we can not say that the lowest price in August 2018 is the end of this phase. 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 $0.31 and this is very close to strong support which stands at $0.30. Ripple has been increasingly adopted by banks and payment networks, some important names include UniCredit, UBS & Santander, Global Payments Steering Group. When we look at the 1-year chart we can see that Ripple is moving in “downtrend”. 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: According to estimates, Ripple (XRP) is one of the cryptocurrencies which you should definitely not ignore and this cryptocurrency might still be undervalued despite the current situation on the cryptocurrency market. Ripple is an open source digital payment network which is also used by banks, the network is extremely fast and payments in XRP take around 4 seconds. It is important to say that all accounts and transactions have strong security and they are algorithmically verified. Ripple has a mission to become the go-to blockchain for big banks and financial institutions. 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 Polymath

The current price of Polymath (POLY) is close to the strong support level which stands at $0.10 but we can not say for sure that this is a bottom. 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 my opinion, this is a highly speculative cryptocurrency and still very risky but lots of analysts agree that Polymath (POLY) 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 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 $0.10 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: The price of Polymath (POLY)  is still under the pressure and for now, we can not see the “light” at the end of the tunnel. 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 $0.10 that will be a strong signal “SELL” signal and the next target could be around $0.05.