In December 2017, market participants were waiting impatiently for the total capitalization of the encrypted market to reach $ 1 trillion. Rapid advancement until December 2018 and total market capitalization is struggling to keep the $ 100 billion mark.
This shows the complete change in sentiment in the last year: last year, it was fear of losing and this year we are afraid of losing all the money invested in cryptocurrencies.
During the extremes of the bull or the bear phase, the markets exceed and exceed the technical objectives by a large margin. We believe that the decline has reached a state of panic, which will end with a background formation as soon as possible.
Therefore, investors who believe in the long-term potential of the asset class should be prepared to invest once the decline has ended. Downside risk from current levels is limited, while upside potential is attractive.
EOS / USD
Manufacturers of EOS blocks (EOS) operate in negative margins and many will get into trouble if the price is not recovered or if no change is made to the existing reward system.
Hackers also have a field day with decentralized apps (DApps) based on the EOS blockchain. Their hacks have caused a loss of about $ 1 million since July.
Charles Hoskinson of Cardano believes that the US Securities and Exchange Commission (SEC) will probably exercise its weapons against the initial offer of EOS's $ 4 billion (ICO) currencies. So, how does the future appear according to the rankings? Let's find out.
The main trend of the EOS / USD pair is falling. The price has made new lows since the start of the year from the $ 4,403 break.
The bulls had tried to form a base from mid-August to mid-November, which failed. The model's goal of that break was $ 2,161. However, the bears easily passed this level and entered the digital currency at a minimum of $ 1.55. Even at these levels, there is no urgency among buyers to intervene and provide support.
This suggests that the decline may extend to the next support at $ 1.2 and below it at $ 1, which is an important psychological support. The RSI is close to the oversold territory, which shows that the sale was excessive.
It is likely a return to the level of interruption, which in this case is the area from $ 3.8723 to $ 4.493. However, traders should start long positions only after the virtual currency signals a reversal of the trend. Until then, it is better to stay on the edge.
BNB / USD
Binance, one of the best encryption exchanges in the world by volume of exchanges, has launched educational content to provide the public with "unbiased" information on crypts and blockchains. Content development was undertaken by Binance Academy, which is the dedicated training arm of the exchange.
Another arm, Binance Labs, released its first batch of blockchain projects from its incubation program, which provided the projects with funding and other necessary resources. The exchange added six new pairs, with the USD USD currency that was recently included in its Combined Stabbo Market.
The Binance Coin pair (BNB / USD) is relatively strong, as it has not given much ground after the reduction of the minimum from the start of the year to $ 5.4666, formed on 6 February. It is currently falling into a descending channel.
If bears break below the immediate support of $ 4,172,348, the decline can reach the channel's support line at $ 2.5.
Although the trend is declining and beneficial for bears, RSI is in the oversold territory, so we can expect the bulls to try to rise above the top resistance at $ 5.4666. If successful, the current drop can be defined as a bear trap and the pullback can extend to the channel resistance line, just above $ 7.5. Traders should only attempt a negotiation after forming a reliable purchase.
TRX / USD
TRON (TRX) launched the TRC20 exchange this week. With the current exchange, the liquidity of the TRON network is expected to increase. The 24-hour transaction amount for DApps increased 48% from the previous week. Likewise, 24-hour trading volume increased by 151% in the last week. With these developments, how does the graphic model appear? Is this a fund in sight?
The bulls have tried to put a fund in place in recent months. The TRX / USD pair consolidated between $ 0.0183 and $ 0.0281551 for around three months, before collapsing on November 19th. An attempt to trace the gap has failed and the bears are attempting to extend the downward trend. The breakdown gives a model target of $ 0.00844479. If the drop does not stop at this level, the next support is $ 0.00554133.
However, if the bulls defend $ 0.01089965 and push the price above $ 0.0183, the digital currency will indicate a likely trend change. Until then, every withdrawal will be satisfied with a wave of sales, so it is better to wait and watch.
LTC / USD
The Litecoin (LTC) Lightning Network is ready for launch on one of the largest payment gateways, CoinGate. The creator of Litecoin, Charlie Lee, has welcomed the news in a recent Tweet"Even Litecoin will soon have more than 1000 merchants accepting LN payments! Thanks to @CoinGatecom!"
Lee had sold all of his Litecoin in December 2017, citing a conflict of interest. He therefore indirectly indicated that the price of Litecoin could collapse $ 20. With the price falling near its forecast, will you find a fund at these levels or will it continue to fall? Let's find out.
The LTC / USD has been on a strong downtrend since it peaked at $ 370 in December last year. Although there was an attempt to form a base at $ 47.246, the bears collapsed on November 13 and resumed the downward trend. There was another attempt to defend the support for $ 29,349, but it did not last a week.
Currently, the downtrend has resumed and the next bearish support is the $ 19- $ 21 zone. If this does not hold up, the fall may extend to $ 15. RSI has reached oversold levels, seen the last time at the beginning of 2015.
If the digital currency rebounds from current levels and rises above $ 29.349, it will indicate that markets have rejected lower levels. In that case, a withdrawal to $ 47,246 is likely. However, since bears have the upper hand, traders should wait for the trend to reverse before attempting a long position in it.
BTC / USD
Some believe that after the bear crushing Bitcoin (BTC) market will meet its end. However, Jeremy Allaire, co-founder of Circle, believes that Bitcoin will be worth "much more" than it is now in the next three years.
Co-founder of Fundstrat Global Advisors, Thomas Lee, believes that the fair value of Bitcoin is between $ 13,800 and $ 14,800, a good 315 percent higher than current levels. During bear markets, prices can fall to insane levels, which turns out to be a good buying opportunity for the brave who can go against the trend.
The trend of the BTC / USD pair is clearly falling. After breaking the $ 5,900 critical support, the bulls were unable to defend any intermediate support level, which shows that the bears are in charge.
The sale pushed the RSI into oversold territory, a level seen last time at the beginning of 2015. Immediate support is $ 2.974, which we expect a strong rebound.
Conversely, if the virtual currency fails to recover, the downward trend may extend to $ 1,752. With each fall, the pair approaches the bottom, but it is difficult to predict where the decline will end.
Because the slide has been clear, it is likely that the next retreat is just as clear. Therefore, traders can expect a new breakpoint test of $ 5,900 once the trend reverses. Until then, the merchant courts are rushing on every small retreat.