There is no bearish divergence in the RSI nor MACD, and both are moving up. Tron (TRX) 6-Hour ChartĪ look at the 6-hour chart for TRX shows that price is moving up while following a steady support line. Tron (TRX) Price Prediction and Analysis: Tron (TRX) Weekly ChartĪ look at the Weekly chart for TRX shows that price has moved past the 7-period moving average and is now headed for the $0.033 resistance area which coincides with the 21-period MA.įurthermore, the MACD is moving upward with strength and has almost turned positive. Price Prediction: I believe that during the next week price will head for the resistance at $0.11, after possibly validating the resistance line. We can see that after a long period of developing bullish divergence, price broke out of a descending wedge and a small retracement ensued. Stellar (XLM) 4-Hour ChartĪ look at the 4-hour chart for Stellar gives more information about where price might be heading. The MACD is falling but losing its power, and seems likely to make a bullish cross. Price is currently trading below the 7, 21 and 50-period moving averages and the Ichimoku cloud. Price is very close to the $0.7 support area formed by the highs of 2017. Price Prediction: I believe that during next week XRP will break the $0.325 resistance and head for $0.34 Stellar (XLM) Price Prediction and Analysis: Stellar (XLM) Weekly Logarithmic ChartĪ look at the Weekly chart for Stellar in logarithmic form shows that price is currently trading at $0.1, finding support at the 200-period moving average. However, the price is creating significant bullish divergence in both the RSI and the MACD. We can see that price tried to break the $0.325 level multiple times but got pushed back every time. XRP 2-Hour ChartĪ look at the 2-hour chart for XRP gives more information about where price might be headed. Most likely scenario: a break of the horizontal channel will likely generate an extended move towards either $0.8000 or $0.If the $0.3 support area fails to support price, the next one will be found at $0.16-$0.18. Weekly Chart Support: $0.2400 followed by the all-time low at $0.14ĭaily Chart Resistance: 100 days Exponential Moving Average and $0.4000 A bullish break of the 100 days Exponential Moving Average (red line on daily chart above) would increase the chances of a move above 0.4000, thus opening the door for a move into 0.80 area over the coming months. A break of 0.4000 could generate a climb to the previous significant high of 0.8200 while a break of 0.2415 will likely trigger an extended drop to the all-time low. This presents us with two scenarios that could develop over the next 3 to 6 months. The bears have attempted to break said channel but failed so we can consider it to be firm support for the time being. In the longer term, we can expect to see some type of bullish-movement develop due to the fact the downtrend is exhausted, there is established support in the $0.24 area and bearish advances have stalled.įrom a Daily chart perspective, the pair is trapped inside a horizontal channel created by 0.2415 support and 0.4000 resistance. However, this next strong move may be short-lived, and the price could reverse rather quickly so I urge caution. The last few weeks have been flat, with low volume and almost no volatility which means we may see a strong move to either side very soon. Similar to most other cryptocurrencies, IOTA reached its all-time high in late December 2017 and has been sliding lower ever since. This puts it in the number 14 spot by market cap rankings. MIOTA has been trading at $0.29 with a total circulating supply valued at $810,668,236. IOTA (MIOTA) Technical Analysis – The Big Picture The use of the DAG removes the dependency on miners for transaction validation: each new transaction must approve two previous transactions, thus eliminating the need for consensus in IOTA’s network. Its native digital asset is called MIOTA which enables micro-transactions between connected devices. It was launched in July 2017 and uses a Decentralized Acyclic Graph (DAG) instead of a blockchain. Sounds a little scary to me though, could be the start of “Skynet” and we all know how that turned out. According to its founders: “We envision IOTA to be a public, permission less backbone for the Internet of Things that enable true interoperability between all devices”. IOTA is an open source distributed ledger designed to execute transactions between machines connected to the Internet-of-Things.
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