Connect with us

Cryptocurrencies

Don’t Panic. Analysis of Zcash, Stellar Lumens, Litecoin and Dash

Published

on

We have been suggesting here and on twitter like a broken record that the ETH and XBT trades were hyper-extended and overdue to correct.  It looks like big money and/or hostile forces have taken advantage of the two corrections to force out weak hands from many altcoins.  These are the days when if you are not leveraged, you ought to play golf or take the kids to the park.  The current selling will end, so if you are not leveraged, and if you failed to sell the highs, it might be a good idea to just relax and take a break.  Markets will almost certainly rise again in a few days, like the phoenix.  No need to panic.

Zcash

ZEC is looking like a great trade.  Both short term and longer term charts have a bullish feel to them.

This 60 minute chart (bear setup) showed support was found at the 5th pair and the top of square, as shown above.

This bull setup on a 144 minute chart shows pricetime exiting a 2nd pair.  Resistance at the top of square is ~ $360.  However, if this rally gets going, the 3rd and 5th pairs are MUCH higher.

For the astro-traders in the audience, today (5/27 -5/28) sees a myriad of different planetary alignments that suggest today is a day to watch.  For example, Mars has rotated 120 degrees (trine) since the start date of this coin, as of today.

Stellar Lumens

Stellar Lumen has bounced off the low pretty well, but there is reason to believe that the bounce will fail.  The 4th arc and 5th arc pairs may need to be touched before this correction will end.

Litecoin

LTC has found support, again, at a longer-term Gann angle.  If that angle fails, not expected but possible, the fall might be painful.  Traders might want to put a stop under that angle, if they have not done so already.

DASH

Dash has found support at a longer-term angle, but the short-term bear setup suggests that the arc pair supporting it is weak.  A re-test is likely.  My guess is that a test of the 3rd arc is likely in the cards. Traders might want to put a stop below that Gann angle, or below that arc, with a buy order ~ $100.

 

Remember:  The author is a trader who is subject to all manner of error in judgment.  Do your own research, and be prepared to take full responsibility for your own trades.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

5 stars on average, based on 1 rated postsJim has an MBA from the University of Southern California. He has had a long career in both Corporate Finance and IT. Along the way he discovered that trading was a vehicle with great promise, but struggled for a long time without a mentor. After having been knocked down many times and having struggled to get back up, he had an epiphany and realized that geometry was a solution. He shares his experience here. If you do well as a result of suggestions made here, feel free to say thank you :) BTC: 1FUq3GB1Q8zz2JpuBr7YHzVBKnaWoxgmya Follow him on Twitter (@jimfred1276) or email him at jimfred1276 at gmail.




Feedback or Requests?

16 Comments

16 Comments

  1. leveler

    May 27, 2017 at 1:53 pm

    How about XRP?

  2. mikejeffery

    May 27, 2017 at 1:53 pm

    Any ideas about Ripple, seems that XRP is one of the most struggling coin in the past few weeks.

  3. nifymedia

    May 27, 2017 at 2:02 pm

    So according to the article, ZEC and STR is a buy now?

    • Joshnj82

      May 27, 2017 at 3:28 pm

      According the analysis ZEC looks profitable both short and long-term. XML (STR on Polinex exchange) recovered slightly but isn’t expected to recover from last session in full w/ the possibility of more losses in near future. That is the opinion of the analysis above.

  4. Gabriel

    May 27, 2017 at 2:09 pm

    I failed to sell the highs, so I took my kids out for the weekend. Very relevant advice as always Jim 😉

  5. Falkor

    May 27, 2017 at 2:49 pm

    How do you know it’s time to sell? Maybe next time I could avoid the the CryptoHammer!

  6. Jim Fredrickson

    May 27, 2017 at 3:51 pm

    I wish I had more cash to buy ZEC, XMR, DASH, XRP. The landscape is littered with bargains.

    • unitednoobies

      May 27, 2017 at 6:31 pm

      Hi Jim,

      What about XLM and ETH. The correction seems like a good buy? If so, when should a buy order be placed, what should be the entry point?

      • Jim Fredrickson

        May 28, 2017 at 12:49 am

        In both cases it seems a bit too soon to say the correction is over (time-wise, particularly for eth). But if you are not buying leveraged, then you can certainly buy here and make money in the weeks ahead… I think…

  7. chorez

    May 27, 2017 at 4:56 pm

    This Zcash graph you disply, seems like an old one? On poloniex it was trading for 120 at the low. Your graphs show a low of 150. Or is this the Kraken chart?

  8. Ritesh Sheth

    May 28, 2017 at 9:41 am

    Hi Jim,
    I would like to invest in ETH, Dash,XMR, ZEC and XRP. What percentage would you recommend on each of them for short (1-2 years) and long-term investment. Please suggest. Or Do you want me to pick any 3 or all 5. Reply Would be highly appreciated. I need your opinion. As I know Investment is subject to Market risk. thanks a lot.

    • Jim Fredrickson

      May 28, 2017 at 10:06 am

      ETH, XRP and ZEC have each been singled out as instruments that corporate America intends to put to use. Each of them have a very bright future, imho.

  9. Ritesh Sheth

    May 28, 2017 at 10:53 am

    Thanks a lot for your generous reply, appreciate it. I will equally distribute on all these three (ETH, XRP and ZEC).

  10. shyam_shankar

    May 28, 2017 at 1:22 pm

    ZEC you are telling based on the technical chart analysis or Coin analysis JIM? I have heard that ZEC has no future those are only speculations?

  11. Stipperdestip

    June 5, 2017 at 8:32 pm

    Hi Jim, what do you think will happen to Lumen before/ after June 27, 2017 (they are distributing up to 16 BILLION lumens to bitcoin holders or 16% of the initial lumens)?
    https://www.stellar.org/blog/bitcoin-claim-lumens-2/
    I look forward to receiving your view on this.
    Many thanks!

  12. Stipperdestip

    June 11, 2017 at 7:00 am

    Hi Jim, I still look forward to receiving your reaction. Best, S.

You must be logged in to post a comment Login

Leave a Reply

Cryptocurrencies

Digibyte Price Jumps 18% Following CNBC Coverage

Published

on

As the markets started to turn this morning a few coins quickly raced out in front. Within the top-10 EOS was the strongest grower with over 9% growth in the last couple of hours.

But of all the coins in the top-40, Digibyte stands out as the strongest performer in a morning of strong performers.

Yesterday evening (UTC) one DGB coin was worth $0.0338, and by the time of writing that price now stands at $0.0401. That marks 18% growth and gives DGB the title of 5th strongest performer out of the top-100 this morning.

Digibyte’s weekly high of $0.0458 is still some way off, but depending on the strength of today’s market recovery DGB could perhaps clear its weekly high before the week is over.

Close to 95% of DGB’s daily volume has come against BTC, with ETH trades making up only a fraction of the 24 hour total.

Digibyte Gets CNBC Coverage

Last Friday, the 13th of June, turned out to be quite a lucky day for Digibyte as it got a taste of what all coins crave at this early stage of the crypto boom – mainstream media coverage.

Digibyte’s founder, Jared Tate, joined CNBC’s ‘Cryptoman’ Ran Neu-Ner to talk about a range of crypto and blockchain related issues, while also filling viewers in on the potential of his own project.

The Digibyte community is one of the most active on Twitter, and was recently buoyed by the rollout of the Digibyte Awareness Team which aims to spread word of DGB’s features potential. The Twitter community had been requesting that Neu-Ner interview Jared Tate for a while, and they finally got their wish, as Neu-Ner said:

“Dear @DigiByteCoin community. You asked me for a year and here it is, my gift to you, my interview on CNBC with @jaredctate.”

DGB Listed on Cryptopia

Digibyte was recently listed on the token exchange Cryptopia, and while the bulk of the daily trades are still coming from Bittrex, Poloniex and Upbit, the Cryptopia trading pairs are slowly starting to heat up. Right now only around 2% of DGB’s daily volume is coming from Cryptopia, but today’s surge might see that change very soon.

The Cryptopia team took to Twitter on July 12th with an announcement that the DGB/USDT trading pair was now functioning and ready to trade:

“Hi Cryptopians! We are happy to announce the opening of the DGB/USDT trade pair as of 10pm UTC. You can start trading with this pair from now. Happy trading!”

At the moment no DGB/USDT trades have taken place, according to CMC, and Tether trades make up less than 1% of the total volume across various exchanges.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.4 stars on average, based on 22 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




Feedback or Requests?

Continue Reading

Altcoins

Cryptocurrency Market Rebounds as Trade Volumes Recover from Yearly Low

Published

on

Cryptocurrency prices were seeing green Sunday, as market activity rebounded from the lowest level of the year with bitcoin and the major altcoins making tepid progress.

Crypto Market Update

Every cryptocurrency in the top-20 by market capitalization was trading in positive territory Sunday. As a result, the total market capitalization of all digital currencies rose by $6 billion to $254.5 billion. Bitcoin’s share of the pie remains roughly 43%.

The bitcoin price edged up 1.7% to $6,363, with the bulls continuing to defend the critical $6,000 level despite repeated downturns.

Ethereum, the no. 2 cryptocurrency by market cap, rose 2.4% to $447.

Bitcoin cash jumped 3% to $719. BCH has shown poise over the past five days even as accusations of node centralization continue to grow.

Ripple XRP rose 1.9% to $0.445. Meanwhile, EOS gained 2.4% to $7.13.

Volumes Hit 2018 Lows

Daily turnover in the cryptocurrency market bottomed fell to around $8.8 billion on Saturday, the lowest since November, according to CoinMarketCap data. Daily trade volumes rose by as much as 20% Sunday, reaching $10.5 billion. At the time of writing, 24-hour volumes were valued just under $9.9 billion.

Since the April downturn, trading volumes have thwarted multiple rally attempts for cryptocurrency prices. Daily turnover has crossed the $20 billion mark only once since June.

As Hacked previously reported, tepid volumes reflect a general decline in retail trading activity on major digital currency exchanges. This is further corroborated by the sharp drop in Google search results for terms like “bitcoin” and “cryptocurrency.” Basically, the half-year market downturn has spooked new traders from entering the market.

Amid the downturn, exchanges like Coinbase have reported a drop-off in app downloads as fewer traders show interest in buying cryptocurrency. Meanwhile, trading apps like Robinhood are still growing thanks to a suite of service offerings that extend far beyond cryptocurrency. Robinhood began offering cryptocurrency back in February but still maintains a thriving platform for traditional markets, such as stocks and ETFs.

Several leading exchanges have announced plans to relocate to jurisdictions with friendlier policies toward cryptocurrency. Malta, a tiny Mediterranean island state, has managed to lure Binance and OKEx to its shores thanks to favorable regulations.

As Hacked’s James Waggoner recently showed, much of the downturn in crypto trading activity has been associated with fears of a regulatory clampdown in jurisdictions like the United States and South Korea. In the case of China, those fears were realized last September when policymakers issued a blanket ban on cryptocurrencies and initial coin offerings.

However, a “tectonic shift” in regulatory thinking is currently underway, which could pave the way for a renewed uptrend in cryptocurrency markets. Case in point: the U.S. Securities and Exchange Commission (SEC) has declared bitcoin and Ethereum to be non-securities. So long as there is no conveyance of ownership, ICOs may also fall under this favorable regulatory purview.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.6 stars on average, based on 497 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




Feedback or Requests?

Continue Reading

Altcoins

Bitcoin Cash Price Shows Poise as Accusations of Centralization Grow

Published

on

Bitcoin cash (BCH) traded within a narrow range Saturday even as opponents of the virtual currency hurled accusations of centralization against its developers.

BCH Price Levels

The bitcoin cash price was little changed on Saturday, reflecting a subdued trading environment in the broader market. At press time, BCH/USD was trading around $703, virtually unchanged compared with 24 hours ago. At current levels, bitcoin cash is capitalized at $12.1 billion, according to data provider CoinMarketCap. Daily trade volumes amounted to $274.5 million.

The fifth largest cryptocurrency by market capitalization has shown poise over the past five days, with prices fluctuating between $671 and $706. Like other cryptocurrencies, bitcoin cash experienced a sharp reversal last Monday, knocking prices from more than two-week highs.

Bitcoin Cash Highly Centralized: Bitpico

Hacker group Bitpico has uncovered massive node centralization of the Bitcoin Cash network, and has taken to Twitter to uncover IP addresses of the platform’s nodes. One screenshot of Bitpico’s discovery showed 98% of the IP addresses associated with bitcoin cash were “sitting in the same server rack,” the group tweeted earlier this week.

In response, a Twitter user by the name of Melik Manukyan showed that the BCH servers were hosted on a cloud farm belonging to Alibaba.

The group  claimed that 49% (or one-half of 98%) of all Bitcoin Cash network nodes were running on the Alibaba cloud farm.

If confirmed, centralization of the Bitcoin Cash network would mark a significant departure from the original bitcoin, which was envisioned as having no central authority (as an aside, the backers of bitcoin cash claim that BCH is the original crypto chain).  Satoshi Nakomoto said as much in the original bitcoin whitepaper published in 2008:

“By convention, the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block. This adds an incentive for nodes to support the network, and provides a way to initially distribute coins into circulation, since there is no central authority to issue them.
The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it is CPU time and electricity that is expended.”

Last month, Bitpico announced it was planning to launch an attack on the BCH network with the goal of dividing it. The group says the coordinate strike will inflict grief on Roger Ver, one of bitcoin cash’s most ardent supporters.

Ver was revealed as the owner of bitcoin.com back in 2015. As Hacked reported back in April, manipulation involving bitcoin.com may have contributed to BCH’s massive rally. You can read the full story here.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
3 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 53 votes, average: 4.67 out of 5 (3 votes, average: 4.67 out of 5)
You need to be a registered member to rate this.
Loading...

4.6 stars on average, based on 497 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




Feedback or Requests?

Continue Reading

5 of 15 Seats Available

Learn more here.

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending