Home / Cryptocurrency / Big moves this weekend? Price of the Tron & Binance currency

Big moves this weekend? Price of the Tron & Binance currency

From yesterday's highs to $ 220,397,000,000 the valuation of the cryptocurrency capital cap has been constantly depreciated. As you can see from the underlying global chart, the assessment failed to overcome the resistance level at around $ 224 billion, which leads the assessment into a downward trajectory.

Cryptocurrency Price Market Watch

Take a look at our live coin prices and market caps

  • Market capitalization: $ 217,731,114,327
  • 24 hours a day: $ 12.144,501,159
  • BTC Dominance: 52.2%

As a consequence, the market is in red with an average percentage of variation among the top 100 coins, equal to about 1.7%. The biggest gainer in the last 24 hours is Holo with an increase of 11.3%, Wanchain 8.34%, Aurora 14.23%, Genesis Vision 16.7%, The biggest loser is Noah Coin with a decrease of 13.88%.

news

Today there are no significant titles. The most important titles are those concerning regulation.

The CEO of Crypto Exchange Bakkt said today that the right regulation could help the market thrive.

The right level of regulation can go hand in hand and help new technologies like cryptocurrency.

Kelly Loeffler, the CEO (CEO) of the forthcoming cryptocurrency exchange in the United States, Bakkt, said on Wednesday. Loeffler was one of the speakers during the first day of Fintech Forward 2018, the annual conference of the Commodity Futures Trading Commission (CFTC) which focuses on the challenges and opportunities of new technologies, including blockchain and virtual coins.

I wanted to underline this title because it's what I've always said: only significant titles are normative ones.

In the lines of what is being said the next title that is worth mentioning is that the EThe European Securities and Markets Authority (ESMA) has allocated over € 1 million to monitor the fintech and crypto assets, according to a document published on October 4th. As reported by cointelegraph:

In its annual work program for 2019, ESMA cites a € 1.1 million program and its objectives for next year, which include the regulation and supervisory treatment of new financial assets, focusing on activities fintech and crypto.

The program:

Achieve a coordinated approach to the regulation and prudential treatment of new or innovative financial assets and provide advice to present to the EU. institutions, market participants or consumers.

The third is the title from Australia. Regulator of the market of Australia, the The Australian Securities and Investments Commission (ASIC) is considering a new tactic to regulate the digital currency exchanges and increased monitoring of initial coin offerings (ICOs) to provide better investor protection As reported by the cryptovest.

As regards the period, ASIC has committed itself to creating a new framework for the application of the principles for the regulation of market infrastructures suppliers to crypt exchanges, monitoring emerging products, including ICOs and intervening "where there are inadequate behavior and potential damage to consumers and investors ".

Tron Price TRX / BTC

From yesterday's up to 360 Satoshi, Tron's price fell 3.8% and is currently trading at 345 levels of Satoshi.

Looking at the 4-hour chart you can see that after the down resistance line has been interrupted the price action has formed in a triangle inside the support area from which we will see soon a break when the price approaches the apex.

By zooming in on time, I believe that the price action inside the triangle has formed a correction that ended up on the resistance line of the triangles and that is why I would expect a breakout from here to the bottom and the continuation of the downward trend. The next horizontal level strong enough to contain the momentum is at 205 Satoshi.

Market sentiment

Tron appears to be in the purchase zone on the hourly chart.

Rotation points

S3 0.00000239
S2 0.00000289
S1 0.00000311
P 0.00000339
R1 0.00000361
R2 0.00000389
R3 0.00000439

Binance Coin BNB / BTC

From today's opening the price of the Binance currency has increased by 2.59%, going from 15544 Satoshi to 15949 level Satoshi.

Looking at the 4-hour chart you can see that the price action of the Binance currency has created a similar pattern with each subsequent cycle. This is called a fractal and as you can see its characteristics are that an impulsive move occurs (who is higher upwards) after which the price retires and creates a triangle in which it bounces a couple of times before breaking it upward and continue the uptrend. The price action is doing exactly the same pattern again as it broke the last triangle resistance line.

By zooming in on the time table you can see that a smaller bull flag has formed after a breakout from the last fractal of the triangle. This means that the move is impulsive in nature and, since it has just begun, an increase is expected for the price of the Binance currency.

Market sentiment

The Binance coin is located in the purchase area.

Rotation points

S3 0.0013771
S2 0,0014439
S1 0,0014794
P 0.0015107
R1 0.0015462
R2 0.0015775
R3 0.0016443

Conclusion

Since the market is at a turning point, I was waiting to see some sort of suggestion on the direction of the movement. Since there are still no conclusive moves, I believe that the weekend will be a catalyst for activating the market operators as both buyers are sellers who are starting to become impatient during the period of market inactivity.

It seems that time for the market implies its decision: will the downward trend continue or will it pause towards the high?

Another third scenario is also possible and is one in which we do not see a breakout full of events but rather just a stasis around current levels and price action just comes out of the triangle. In this case the triangle would be invalidated and the market would probably prolong the period of stagnation. It would really be a good thing for prices, because this could indicate a fund.

Source link