Connect with us

Cryptocurrencies

Trade Recommendation: Siacoin

Published

on

This is a long term trade. The market gives us a new swing high which can be used for placing new buy orders. Entry level is 0.00000105 with stop orders at 0.00000042 level. Profit targets are 0.00000150 and 0.00000280 resistance levels. MACD lines and DMI support upward movement and if the price breaks SMA100 and the resistance level, we should expect for a new uptrend. Based on the breakout signal, we’ll be able to join this market movement on time. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: SCBTC
Buy: 0.00000105
Stop: 0.00000042
Profit Targets: 0.00000150 and 0.00000280

The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Siacoin.  

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...

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.




Feedback or Requests?

Altcoins

Ethereum Price Analysis: ETH/USD Has Big Opportunity to Fly Again

Published

on

 

  • ETH/USD is running at seven consecutive sessions of losses, dropping as much as 25%.
  • Price action is moving within a strong demand area, which could very well see the price rocketing again.

Current Price Action

ETH/USD is stuck within a stubborn downward trend. The price is running at a seven consecutive session losing streak. During this time period, ETH/USD has dropped as much as 25%, falling from $226, down to recent lows of $171.95. This is the biggest weekly loss seen since the bear market back in September.

The price was trading in a consolidation manner; this had been the case after the above-mentioned bear market drop. ETH/USD at the time had dropped as much as 45%, before finally staging a recovery. Since the bounce on 12th September, price action began to form a bearish pennant pattern, which was then firmly broken on 14th November.

ETH/USD daily chart

Buying Opportunity  

At the time of writing, ETH/USD is seen trading deep within a known demand area. Buyers last pilled in and drove the price north, back on 12th September, as detailed above. It had gone on to gain a whopping 50%, following the hammer candlestick reversal confirmation. The demand can be eyed around the $170 territory.

Eyes should be on indications of a reversal, the potential for a signal from a candlestick formation, similarly to the prior mentioned recovery. In terms of the RSI via the daily time frame, ETH/USD is very much in oversold territory. The index seen around the 27 level at the time of writing, which could see the price soon bottoming out.

Upside Targets

Should life be kicked back into the bulls, another retest of the breached pennant pattern would likely be seen. Resistance underneath the pennant should be noted at the psychological $200 mark. The bears firmly ran through this price level on 14th November. Further north, another barrier can be observed at $230 area, a known supply zone.

There has been much debate over the past couple of months, as to whether the cryptocurrency market has hit the bottom. Many believed that this was the case, after the deep September drop. While some were still calling another corrective fall. Once some stabilization from the bulls is seen and recovery picks up momentum, this may be the last of the bears for 2018.

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...

4.5 stars on average, based on 54 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




Feedback or Requests?

Continue Reading

Cryptocurrencies

DigiByte (DGB) Recovers 15% as Testing Begins on ASIC-Defeating Algorithm

Published

on

DigiByte (DGB) showed strong signs of recovery on Friday, as the coin price made up 15% of its value after the recent market dip.

Testing has begun on a self-adjusting algorithm which changes itself every ten days. According to the DigiByte team, and founder Jared Tate, such a move would see the threat of ASIC centralization greatly reduced.

Multi-Algorithm

As it stands, the DigiByte blockchain (which is the longest in the world) is secured by five different hashing algorithms, and subsequently, five different groups of miners. SHA256, Scrypt, Skein, Groestl and Qubit miners currently take 20% each of the block rewards, and the algos are cycled every ninety seconds.

Even with the multi-algo system already in place, testing has begun on a self-adjusting algorithm which would be impossible to predict by ASIC machines. According to the DigiByte twitter feed:

“We are proud to announce we are testing the next generation of #blockchain mining technology. Imagine a mining algorithm that recreates itself every 10 days? No ASIC could ever be created for it. True #Decentralized #ProofOfWork #CyberSecurity.”

DigiByte founder, Jared Tate, whom you may remember from his recent spat with Binance CEO, CZ, further elaborated on the concept of the new algorithm, stating:

“The idea is an algorithm that recreates itself every 10 days. FGPA’s will be the ideal hardware to mine with. Every 10 days miners will get to “reprogram” and rediscover the most efficient settings to mine the #DigiByte #blockchain with.”

A History of Innovation

Along with the aforementioned multi-algo mining, DigiByte can point to several unique features and achievements which one might not expect of a coin ranked around the 30s by market cap.

The blockchain is the longest in the world, thanks largely to its fifteen-second block times. DigiByte also claim their blockchain is the fastest, and with 560 transactions per second confirmed that might be true.

Likewise, the blockchain is secured by over 70,000 node operators, while the Bitcoin and Ethereum chains are only backed up by around 9,000 and 15,000 respectively.

DGB/USD On the Move

From the 11-month low of $0.015186, the DGB coin price recovered to the tune of 15%, hitting the $0.017591 mark by Friday morning. After levelling off, the price remained at the $0.017 range for the rest of Friday afternoon, and was still there moving into the evening.

While the broader market waves probably dictated DGB’s fate during the recent dip, the return to the $0.015 range may prove to be technically significant. That was the price range which triggered DGB’s parabolic growth last December, when it went on a near 10x growth run over the course of the next month.

Over 60% of DGB’s movements were fuelled by BTC trades, however the second most concentrated trade was, surprisingly enough, against the Turkish lira – making up 18% of the $1.6 million total volume.

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...

4.4 stars on average, based on 89 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

Cryptocurrencies

Tron (TRX) Recovers 10%; Data Indicators Point to Rapid Expansion

Published

on

Tron (TRX) saw a rapid recovery bounce of 10% following the market wide rupture of the previous few days, a figure exceeded only by XRP (XRP) and Stellar (XLM) among the major altcoins.

The recent crash wiped 15% off the value of Bitcoin, and $38 billion left the global market cap in the blink of an eye. While it seems like time stood still for the last few days, the noises coming out of Tron HQ are much the same as they were before the crash.

Tron Data Indicators

Tron founder and CEO, Justin Sun, released a community update on Friday which detailed some recent indicators of Tron’s expansion. Sun tweeted:

“In the past 46 days, #TRON has welcomed another period of rapid development. During this time, our core data indicators as well as the entire #TRON ecosystem experienced significant growth. Here is an update for all #TRONICS.”

The update covers some of Sun’s own personal social media data, such as the number of his Facebook followers now exceeding two million. His Twitter followers exceed half a million – a number remarkable only for the fact that the account was created just last year.

Moving into the blockchain data, Tron made news recently for exceeding 1.3 million daily transactions – a number 119% that of the EOS blockchain. Accounts created on the Tron blockchain also crossed 600,000, which is 20% more than EOS despite the TRX chain being ‘younger’.

Since the mainnet upgrade (v.1.3) to activate the Tron Virtual Machine went live on October 8th, there have been 269 smart contracts created, and over 1.2 million ‘triggers’ of those contracts (undoubtedly partly fuelled by gambling apps).

Meanwhile, the Tron DEX which launched at the end of October has already seen 100 million TRX change hands. The DEX has seen an average of 1,650 daily users, as well as 26,000 daily transactions.

TRX Listed on FCoin

As per Justin Sun’s tweet on November 16th:

“#TRON will be listed on @FCoinOfficial, you can deposit and withdraw #TRX on November 19, 20:00 (SGT) and trade TRX/BTC, TRX/ETH, TRX/USDT on November 21, 20:00 (SGT).”

Deposits and withdrawals will begin on November 19th, and trading will begin in earnest on November 21st. TRX will find itself with two crypto pairings, as well as a stablecoin pair – TRX/BTC, TRX/ETH and TRX/USDT.

However, a quick glance at the FCoin exchange numbers reveals a platform which caters to nothing but transaction mining. Whether this will make itself felt on TRX’s market numbers (specifically volume), remains to be seen. One wonders what the benefits of having the coin listed on the exchange really are.

Since the bottom of Tuesday-Wednesday’s dip, TRX climbed from $0.017546 up to $0.019412 – a jump of 10%. Since the peak the surge levelled off, sending the coin back to the $0.191 range.

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...

4.4 stars on average, based on 89 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

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