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Trade Recommendation: Zcash

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The trading idea is based on a breakout above the downtrend line and the local swing high with further upward movement. Pending orders for buy can be placed at 342.00 level with stop orders below SMA100 at 310.00 level. The main profit target should be at 400.00 level. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: ZECUSDT
Buy: 342.00
Stop: 310.00
Profit Targets: 400.00

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

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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2 Comments

2 Comments

  1. ORSILV SNIPERMASTER

    December 5, 2017 at 9:19 am

    No hermano, que mala recomendación, he perdido mas de 3000 dolares con su consejo. Esta moneda desde que la compre en su recomendación no ha hecho mas que bajar. Que mal por ese pésimo a augurio para ZCASH.

    • Korera

      December 5, 2017 at 7:52 pm

      no worries. you still should have 20 times more if you put 5% of your money…

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Altcoins

Factom (FCT) Rides Recovery to 65% Gains as Mortgage Service Adopts Blockchain

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Factom (FCT) climbed 65% from Wednesday through Saturday, as it continued to ride the recovery wave while the rest of the market stalled.

The price surge comes amid news that Factom’s Harmony blockchain-as-a-service (BaaS) technology is to be used by mortgage software and marketing firm, Equator, as a way to increase efficiency.

Factom Price on the Move

The press release announcement landed on November 13th, just as the recent market dip struck which wiped $38 billion off the global market cap. The value of FCT sunk along with the rest of the market, hitting a new 20-month low of $3.81, and a market cap of just over $30 million.

Since then, however, FCT’s fortunes turned round and the coin went on a day-on-day growth surge up to a price of $6.30 – a 65% increase. That was enough to take Factom’s market cap to over $50 million, and send it into the top hundred coins by market cap.

Of FCT’s trade action for Saturday, 100% of trades have come against BTC. Factom only has one other trading pair to its name – the CK USD (CKUSD) stablecoin. Poloniex catered to the majority of movements, with Bittrex, Upbit and Cryptopia picking up the rest.

Factom Gains Mortgage Service Use-Case

As per the press release which announced Factom’s new partnership:

“Equator, an Altisource business unit and a leading provider of residential loan default software and marketing solutions for many of the country’s top servicers, real estate agents and vendors, today announced an agreement with Factom, Inc. to integrate the Factom® Harmony blockchain-as-a-service (BaaS) platform into the Equator® PRO solution.”

According to the press release, Equator PRO is a software-as-a-service (SaaS) solution that aims to offer efficiency and oversight to help other mortgage servicers. Their platform includes but is not limited to:

“…loan management, loan modification, short sale/deed-in-lieu, foreclosure/bankruptcy, and real estate owned (REO) focused products…”

In the plainest of language, Factom just got a real-world use-case for its blockchain tech. Thus far, the technology is expected to be used to:

“…provide a distributed mechanism to preserve data, files and digital records, making them verifiable and independently auditable…”

Celebrations

Patrick G. McClain, Senior Vice President of Equator talked up the partnership, stating:

“Incorporating Factom’s blockchain tools will support our customers’ compliance obligations. At Equator we are regularly working to improve and advance our default servicing technology, and adding cutting-edge tools like Factom’s Harmony is another example of our continued leadership.”

Chief Operating Officer of Factom, Laurie Pyle, also celebrated the news, stating:

“At Factom we know a practical blockchain solution is needed to specifically deal with complex business data and documents. We look forward to working with Equator, who shares the vision of using blockchain technology to bring transparency and efficiency to the default servicing process.”

Factom launched just over three years ago and was subject to lots of positive chatter up until the ICO era came into play, and Factom was relegated from CoinMarketCap’s first page.

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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4.4 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.




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Altcoins

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

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  • 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.

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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.




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Cryptocurrencies

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

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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.

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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.




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