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Trade Recommendation: Ethereum Classic

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The price bounces from the support zone formed by SMA50 and the uptrend line. RSI confirms price reversal and MACD histogram is going to support further upward movement. If the price moves above 16.00 resistance level, we’ll get an additional confirmation that the market is going to reach the previous highs. Pending orders for buy can be placed at 16.50 level with stop at 13.80 level. Profit targets are 20.00 and 22.00 levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

Market: ETCUSD
Buy: 16.50
Stop: 13.80
Profit Targets: 20.00 and 22.00

The trading signal is based on Poloniex chart.

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.

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3.3 stars on average, based on 44 rated postsDmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.




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3 Comments

  1. brivero

    November 14, 2017 at 5:44 pm

    Hey there, can you please help me understand what you mean by “recommended trading volume for this trade is up to 5% from your deposit.”

    Thanks!

  2. Dmitriy Lavrov

    November 14, 2017 at 7:49 pm

    For example if your deposit is 1000USD, you can invest in this market based on this signal not more than 50USD.

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Altcoins

Why Investors Should Pay Attention to Golem

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Did you know most of us only use a fraction of our computers’ capacity? Thinking about it, you wouldn’t expect most of the tasks we do on a daily basis to take up much computing power. So what do you think happens to the rest of your capacity?

It sits idle, and nothing is done with it. Your computer is still on and consuming electricity and this power goes to waste. Based on this exact “problem” Golem has come up with a solution that ends up being a lot like AirBnb for your computer.

Golem has created a peer-to-peer system for sharing computing power across the network. The result is a flexible, scalable solution that aggregates idle resources and democratizes the payout to the millions of people on the network.

Golem’s Long Road to an ICO

It took 3 years, but Golem finally completed the sale of their GNT token in early April 2018. The platform is built on ETH and utilizes smart contracts to drastically bring down the cost of distributed computing. The sale was completed in under 20 minutes and raised 820,000 ETH ($340 million).

How it works is that suppliers have extra computing power and are willing to be paid GNT in exchange for their computers performing tasks for requesters.

The app is 100% secure and operates in the background, and you can also choose what fraction of your computing power to use, so there’s no worry about getting slowed down by its operation. Ideally, the only time you would notice it is when you earn some ETH for performing tasks for other users.

Golem’s Economics

The mechanics of the market are pretty simple. There is demand (requesters) and supply (providers). The supply is essential, because there are no central servers that are able to perform computations. Providers will come to the network with the goal of earning a few dollars a month in ETH, at virtually no cost to themselves.

On the demand side, you have users who buy GNT tokens in order to pay for providers to perform tasks for them. Requesters generally join the network because of its lower cost. They are able to set the maximum they will pay (their bid) and Golem distributes the tasks appropriately.

A final party to consider are the software developers who enjoy access to a distribution channel that helps them depoy and monetize new software. Golem has a store that enables this function and adds much more value to the network.

The obvious competitors to Golem are big cloud services like Amazon Web Services and Microsoft Azure. The fact is that these services are grossly overpriced because the companies have developed an oligopoly that allows them to collect high margins. This is crazy because computing power is not actually a scarce resource and this is the market inefficiency Golem aims to fix.

Golem’s Long Game

Golem is currently trading at a fraction of a dollar ($0.145) and is down from a high above $1.00. The same downturn has affected many companies in the blockchain space, and Golem has received extra flak for taking so long to release their product. At the same time, another way to look at this is as a major buying opportunity.

Most of this has to do not with ineptitude, but a complex framework (Ethereum) that isn’t perfectly designed for integration yet. However, in the long-run Golem still has huge potential. As more features are released (Clay Golem is next) and they scale to be able to help data centres, there is no limit to how far they can go. The size of the market has been proven by Amazon and Microsoft, and now it is up to Golem to see if they can get a piece of the pie.

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.

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3.9 stars on average, based on 26 rated posts




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Altcoins

Lisk Mainnet Launch Triggers 32% Surge with Bitcoin Trades Dominant

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The Lisk (LSK) team announced the imminent launch of their mainnet migration earlier today, as the coin price bounced to 32% gains in less than twelve hours. An official block date has been set for the migration, expected to arrive on August 29th.

Since the surge, Lisk’s momentum has begin to cool, and with nearly two weeks before the mainnet goes live, it will be interesting to see how long the bounce lasts.

Mainnet Triggers Lisk Surge

Late last night LSK was trading at a price of $2.73, before the surge took the coin to $3.62. For some context, the coin hadn’t found itself at a valuation in the $2.70 range since August of 2017.

After being saved from a yearly low the coin’s push evened out for a few hours but has just spiked again shortly before publication. The latest surge just saw 9.6% gains within the space of forty minutes, as the coin jumped from a valuation of $3.30 to $3.62, where it now stands.

The Lisk mainnet launch was announced earlier on Thursday, August 16th, with anticipation building in the days leading up. Looking back, the descent to the yearly low seems like a game of chicken, as investors waited for the opportune moment to ride the hype wave to the mainnet release.

Regardless, the team set out the date for the migration:

“#Lisk Core 1.0 is going to Mainnet! The migration will take place when we reach block height 6,901,027 at the end of round 68327. We expect this block height to arrive on Wednesday, August 29, no sooner than 11:00 AM CEST.”

The team reminded holders not to transact LSK within 24 hours of this time period, but conceded they couldn’t enforce such a rule:

“Please avoid making any transactions during the 24 hours prior to and after the migration. For exchanges, we also recommend not accepting withdrawals/deposits 24 hours prior to and after the migration as well. However, we cannot enforce this, as Lisk Network is fully decentralized and everyone in the community is free to post any transactions that they wish to at anytime.”

Bitcoin Dominance

BTC finds itself the prime mover in the majority of LSK’s market movements today, with over 90% of Lisk’s daily volume coming in the form of LSK/BTC trades.

Global Bitcoin dominance has been stuck on 53% for the last two days, after hitting 54.4% on August 14th. Despite fluctuations today which have seen BTC/USD valuations oscillate between daily peaks of $6,580 and daily lows of $6,270, Bitcoin is still in a stronger position relative to its digital competition, and finds itself represented on exchanges in proportion to its dominance.

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.

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4.4 stars on average, based on 38 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.




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Ethereum Classic Continues Surging Ahead of Coinbase Listing

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Ethereum Classic extended its rally on Thursday after Coinbase announced it would soon open the floor to ETC trades – a move that is expected to bring higher liquidity to the world’s 11th largest cryptocurrency.

ETC/USD Price Levels

The value of Ethereum Classic surged 15.9% on Thursday to $14.05, according to CoinMarketCap. The cryptocurrency has recovered more than a third of its value since bottoming at $10.43 on Monday. Prior to the most recent bear market, ETC was trading at two-month highs.

At current values, Ethereum Classic is capitalized at $1.5 billion, putting it just ahead of Tron and IOTA ($1.3 billion apiece). In terms of trading volume, more than $500 million in ETC traded hands on Thursday.

Ethereum Classic was well ahead of the broader market, which traded relatively flat on Thursday. At press time, the cryptocurrency market’s entire capitalization was $207.5 billion, up only slightly from 24 hours ago.

Ethereum Officially Joins Coinbase

Coinbase confirmed less than 24 hours ago that “Consumer customers will be able to buy, sell, store and use Ethereum Classic” beginning 5:00 p.m. PT on Thursday. ETC is just the fifth cryptocurrency to make its way to Coinbase, joining bitcoin, bitcoin cash, Ethereum and Litecoin.

The selection of Ethereum Classic in June came as a shock to the cryptocurrency community, which was expecting a higher profile coin to join the “elite four” currently supported by Coinbase. Dan Romero, Coinbase’s vice president and general manager, provided some insight on the company’s decision to go with ETC.

Although Romeo admitted to “seeing some head-scratching on this one,” the decision was largely based on regulation. ETC’s inclusion on the platform reflects the company’s desire to expand its listings while adhering to local regulations.

Earlier this year, the U.S. Securities and Exchange Commission (SEC) deemed bitcoin and Ethereum to be non-securities. Although this doesn’t apply to Ethereum Classic per se, the coin shares many of the decentralization features as its companion. Ethereum Classic was created in 2016 following a major attack on The DAO. This prompted the Ethereum Foundation to create a new version of Ethereum to rescue the lost funds.

As Hacked previously reported, ETC has become somewhat of a sleeper over the years, though interest seems to have re-emerged thanks to an active developer community.

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.

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4.6 stars on average, based on 548 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.




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