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Technical Analysis of NEO

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 cryptocurrency market has advanced around 2-3% in the last 24 hours and the price of NEO is also supported by this situation. The price of Bitcoin is still below $8 000 and there is a correlation between the price movements of Bitcoin and other cryptocurrencies. 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. 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 $16- If the NEO jumps above $16 that would be a “BUY” signal and the open way to $20 or even $25. 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 “SELL” signal and the next target could be around $8.

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 IOTA

In less than twenty days, the price of IOTA has advanced from $0.26 above $0.55 and the current price stands around $0.46. According to the rules of technical analysis, the “bearish” trend of this cryptocurrency is still very strong. 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 $0.4 and $0.5 – 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 $0.4 that will be a “SELL” signal and the next target could be around $0.35.

Advice: May has been a very positive month for the cryptocurrency market, the price of Bitcoin advanced above $9 000 (current price around $8 500) and this is certainly a positive thing for all other cryptos.  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 Ripple

The cryptocurrency market has got around 30% of market capitalization in the last several weeks and for now, there is no important reason to change this positive trend. In less than twenty days, the price of Ripple has advanced from $0.30 to $0.48 and the current price stands around $0.44. 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. 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. The price of Ripple is still very low 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 $0.4 and $0.5 – If the Ripple jumps above $0.5 that would be a “BUY” signal and the open way to $0.6. 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 $0.4 that will be a strong signal “SELL” signal and the next target could be around $0.35.

Advice: 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 but in my opinion, 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. May has been a very positive month for the cryptocurrency market so far, the price of Bitcoin is above $8 600 and this is certainly a positive thing for all other cryptos. There is a positive correlation between the price movements of Bitcoin and other cryptocurrencies and as long the price of Bitcoin is above $ 7 000 the current positive trend remains intact. As for the technical picture, if the price of XRP advances above $0.50, short-term traders can enter the position with the stop loss at $0.44 and take profit at $0.6 or even $0.7.

Technical Analysis of Bitcoin

May has been a very positive month for the cryptocurrency market so far, the price of Bitcoin is above $8 600 and this is certainly a positive thing for all other cryptos. In less than thirty days the price of Bitcoin has advanced from $5 400 to $8 958 and the current price stands around $8680. There is a positive correlation between the price movements of Bitcoin and other cryptocurrencies and as long the price of Bitcoins is above $ 7 000 the current positive trend remains intact. 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 $ 8000 and $9 000 – If the Bitcoin jumps above $9 000 that would be a “BUY” signal and the open way to $9 500. 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 $7 000 that will be a strong signal “SELL” signal and the next target could be around $6 000 or even $5 500.

Advice: The price of Bitcoin currently stands around $8 680 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. It is important to do a lot of research and try to identify those currencies which are likely to fit together in an overall ecosystem, rather than trying to pick a single winner. As for the technical picture, if the price advances above $10 000, short-term traders can enter the position with the stop loss at $9 600 and take profit at $11 000 or even $12 000.

Technical Analysis of Cardano

Cardano was one of the best performers on the cryptocurrency market in the last three weeks, in less than 20 days the price of Cardano has advanced from$0.06 above $0.10 and the current price stands around $0.08. The price of Bitcoin is above $8 000 and there is a correlation between the price movements of Bitcoin and other cryptocurrencies. Cardano is entirely open source that aims to establish a smart contract platform which focuses on more advanced features. Cardano has own cryptocurrency known as ADA which is designed to work well with regulations and to be accessible to almost anyone. 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. 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 $0.07 and $0.09 – If the Cardano jumps above $0.09 that would be a “BUY” signal and the open way to $0.10. If the Cardano jumps again 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 the official website, this platform will deliver more advanced features than any protocol previously developed. 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. As for the technical picture, ADA remains in bearish phase but if the price advances again above $0.10 next targets could be located around $0.12 and $0.15. On the other side, if the ADA falls below $0.06 that will be a strong signal “SELL” signal and the next target could be around $0.050.

Technical Analysis of Dash

Dash was one of the best performers on the cryptocurrency market in the last several days, in less than five days the price of Dash has advanced from$140 above $170 and the current price stands around $154. The cryptocurrency market has advanced around 2-3% in the last 24 hours and the price of Dash is also supported by this situation. The price of Bitcoin is above $8 000 and there is a correlation between the price movements of Bitcoin and other cryptocurrencies. 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. 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. 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 $150 and $200 – 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 cryptocurrency market is advancing again and it is very important that the price of Bitcoin is again above $8 000. 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. 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 Ethereum Classic

The cryptocurrency market has weakened around 3-4% in the last 24 hours and the price of Ethereum Classic is also pressured by this situation. There is a correlation between the price movements of Bitcoin and other cryptocurrencies but the positive thing for the cryptocurrency market is that the price of Bitcoin has stabilized above $7 000. 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. 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. 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: There is a correlation between the price movements of Bitcoin and other cryptocurrencies but as long the price of Bitcoin is above $7 000 there is no fear of “sell off” for other cryptos. 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 Tronix

The cryptocurrency market is little changed this Wednesday but it is very important that the price of Bitcoin is again near $8 000. The current price of TRON is close to the short resistance level which stands at $0.03 but it is important to say that the price of this cryptocurrency advanced recently above this level. 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 above $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: 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. 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 again 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 EOS

EOS is a blockchain based decentralized operating system which enables businesses to build blockchain applications in a way similar to web-based applications. Elimination of transaction fees and scalability are two major features of the software. Since many of the enterprises and companies and developers are looking for such a decentralized blockchain-based platform, the future looks bright but there’s still a level of uncertainty surrounding the project. This is still very risky cryptocurrency and investors should also have in mind the competition the EOS network will face from other similar projects. In my opinion, EOS will have big problems to compete with Ethereum which stands the number-one platform for dapps and smart contracts. The positive thing is that EOS has already teamed up with the likes of several big companies, decentralized exchange known as EOSfinex is the partnership between EOS and Bitfinex. The cryptocurrency market is advancing again and it is very important that the price of Bitcoin is again near $8 000. The current price of EOS is close to the short resistance level which stands at $6.5 but it is important to say that the price of this cryptocurrency advanced recently above $6.8. As long EOS is below $10 this cryptocurrency is in the “SELL” zone. If the EOS jumps above $10 that could be a strong signal of the trend reversal and the open way to $15. On the other side, if the EOS falls below $5.5 that will be a strong “SELL” signal and the next target could be around $5.

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 EOS remains in bearish phase but if the price advances above $10, short-term traders can enter the position with the stop loss at $9 and take profit at $12 or even $15.

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.