BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LEO – BTC Ethereum Crypto Currency Blog

Current price action from top cryptocurrencies suggests that the path of least resistance is to the upside, indicating the market could be in the early stages of a new uptrend.

Even after the announcements of massive stimulus by the U.S. Federal Reserve, the ECB, and several other central banks, the equity markets are still struggling to launch a sharp recovery from the recent lows. This shows that traders are not confident that the equity markets have bottomed out and possibly investors are slowly losing hope that the central banks can rescue them from any crisis.

Meanwhile, the cryptocurrency market is showing a sharp rally from the recent lows. The total crypto market capitalization has risen from the recent low of about $118 billion on March 13 to about $191 billion on March 20, which is a rally of about 62%. This shows that the crypto traders are using the dips during panic selling to accumulate for the long-term. 

Daily cryptocurrency market performance. Source: Coin360

The sharp increase in the balance sheets of the central banks is likely to result in high inflation down the road. BitMEX Research believes that “in this changed economic regime, where the economy and financial markets are set loose,” Bitcoin has a great opportunity to prove its worth.

Fundstrat Global Advisors technical researcher Rob Sluymer wrote in a recent note that “Bitcoin will likely need months of consolidation to repair the technical damage now in place.” 

Nonetheless, we do not expect the recovery to be a long drawn one, especially with the Bitcoin halving due in about two months. Let’s analyze the charts of the major cryptocurrencies to determine the levels, which will signal a change in trend.

BTC/USD

Bitcoin (BTC) has seen strong buying from close to the $5,000 levels, which is a huge positive. This shows that the market participants believe that the largest cryptocurrency has put a bottom at $3,803.58.

BTC USD daily chart. Source: Tradingview

Currently, the bears are defending the resistance at the 20-day EMA. If the BTC/USD pair turns down from the current levels, we expect the bulls to step in closer to the support line of the ascending channel. 

If the pair bounces off the support line of the channel and rises above the 20-day EMA, a move to the 200-day EMA at $8,448 and above it to $10,500 is possible.

Contrary to our assumption, if the pair turns down from the 20-day EMA and plummets below the support line of the channel, it can result in a fall to $5,000. We expect strong buying to emerge at these levels.

Though we are positive, we suggest traders wait for the rally to prove itself before jumping in to buy. We will watch the price action for a couple of days more and then suggest a trade in it.

ETH/USD

The momentum in Ether (ETH) picked up after it broke above the downtrend line. This is a positive sign. The bulls are currently facing resistance at $155.612. If the biggest altcoin turns down from this level, a drop to $117.909 is possible.

ETH USD daily chart. Source: Tradingview

If the bulls purchase the next dip to $117.090, it will indicate buying on dips. This might also signal that the bottom is in place and a new uptrend is likely. This will offer a buying opportunity in the ETH/USD pair.

Conversely, a drop below $117.090 will indicate that the sellers continue to be active at higher levels and a drop to $100 will be on the cards.

XRP/USD

XRP has recovered to the overhead resistance of $0.17468. The bears are likely to mount a stiff resistance between $0.17468 and the 20-day EMA at $0.187. However, if the momentum can carry the price above the channel, a change in trend is likely.

XRP USD daily chart. Source: Tradingview

On a close (UTC time) above the channel, the XRP/USD pair can rally to the 200-day SMA at $0.24460. 

However, if the pair turns down from the current levels, a drop to the uptrend line is likely. If this support holds, it will signal demand at lower levels and might offer a buying opportunity. Conversely, if the bears sink the pair below the uptrend line, it will be a huge negative and can result in a retest of the recent lows at $0.114.

BCH/USD

Bitcoin Cash (BCH) has recovered sharply from the lows and is currently attempting to rise above the 20-day EMA, which has been acting as a stiff resistance since Feb. 18. A breakout above the 20-day EMA and the descending channel will be a huge positive and will signal a possible change in trend.

BCH USD daily chart. Source: Tradingview

Above the descending channel, the bulls can carry the price to $360. Though the 200-day SMA at $276 and the horizontal level of $306.78 might offer resistance, we expect these to be crossed.

On the other hand, if the BCH/USD pair turns down from the current levels, it can dip to $200 and below it to $169.62. We will watch the price action above the channel and then suggest long positions.

BSV/USD

Bitcoin SV (BSV) is attempting to break out of the descending channel. If successful, it will signal a probable change in trend. Above the channel, the next level to watch out for is $236 where we anticipate the bears to step in once again.

BSV USD daily chart. Source: Tradingview

If the BSV/USD pair turns down from $236, it might remain range-bound for a few more days before making its next move. However, if the bulls can drive the pair above $236, a rally to $337.80 will be on the cards.

Our positive view will be invalidated if the bulls fail to propel the price above the channel. In such a case, the pair will extend its stay inside the channel.

LTC/USD

Litecoin (LTC) has broken above the $35.8582-$38.8015overhead resistance zone. This is a positive sign as it signals buying at lower levels. However, we expect the bears to aggressively defend the 20-day EMA.

LTC USD daily chart. Source: Tradingview

If the bulls hold the next dip above the uptrend line, it will signal strength. The traders can wait for the bounce off the uptrend line to close (UTC time) above the descending channel to enter long positions. We will suggest a stop loss after the buy recommendation gets triggered.

Conversely, if the bulls fail to push the price above the descending channel, the LTC/USD pair might again dip to the uptrend line. Below this level, a drop to the support line of the descending channel is possible.

EOS/USD

The bulls are attempting to push EOS above the overhead resistance zone of $2.1624-$2.4001. If successful, a move to the 20-day EMA is likely. The three previous attempts to rally faced stiff resistance at the 20-day EMA, hence, we expect the bears to aggressively defend this level once again.

EOS USD daily chart. Source: Tradingview

If the EOS/USD pair turns down from the 20-day EMA but finds support at the uptrend line, it will signal buying on dips. This will present a buying opportunity.

However, if the bears sink the price below the uptrend line, it will signal an advantage to the bears and a drop to $1.7213 is possible. The next dip will give us a likely confirmation of whether the bottom is in place or not.

BNB/USD

The bulls propelled Binance Coin (BNB) above the overhead resistance at $12.1111. This has turned the sentiment positive in the short-term. However, the bears will attempt to stall the relief rally at the 20-day EMA. 

BNB USD daily chart. Source: Tradingview

If successful, the BNB/USD pair might dip back to the uptrend line. A bounce off this line will be a positive sign and will signal a change in sentiment from sell on rallies to buy on dips. That might present a buying opportunity. 

The first target on the upside is the downtrend line, closer to $17. Conversely, if the bulls fail to defend the uptrend line, a drop to $8.4422 is possible. 

XTZ/USD

Tezos (XTZ) rallied and closed (UTC time) above the 200-day SMA on March 19, which shows that bulls are back in the game. We anticipate the bears to mount a stiff resistance at the 20-day EMA at $2.06, which is just above the horizontal resistance at $1.955.

XTZ USD daily chart. Source: Tradingview

We also spot early signs of an ascending triangle pattern developing. If this pattern completes, it will have a minimum target objective of $2.9004. Above this level, the rally can extend to $3.3367 and above it to $3.50.

Conversely, if the XTZ/USD pair turns down from the overhead resistance and dips below the trendline of the triangle, a retest of $1.1349 and below it $1.0096 is possible.

LEO/USD

UNUS SED LEO (LEO) has been a slow mover in the past few days. It neither fell dramatically along with the other major cryptocurrencies in the past few days nor is it showing signs of strong buying at the current levels. 

LEO USD daily chart. Source: Tradingview

The LEO/USD pair remains stuck inside a $0.9081-$1.04 range since early-Feb. of this year. A breakout and close (UTC time) above $1.04 will complete a bullish inverse head and shoulders setup that can result in a move to $1.27488 and above it $1.36.

However, if the bulls fail to propel the pair above $1.04 and sustain it, a few more days of range-bound action is possible. A break below $0.9081 will shift the balance in favor of the bears.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Silk Road Coin Presentation by LGR Group

The time is past when tossing a single coin was already an added value. There are currently hundreds of coins and thousands of tokens in the world of cryptocurrencies, and therefore when a company wants to succeed it must offer not just one coin or one token, but an entire value proposition for an entire ecosystem. This is the case of the proposal that we bring today: Silk Road Coin by LGR Group.

 

What do we understand by Silk Road?

Before going in to talk in-depth, we must be clear about what we are talking about when we talk about Silk Road.

Silk Road, within the world of cryptocurrencies, refers to the first and most mythical online market with bitcoin. It sold absolutely everything, including drugs and weapons. That adventure of eliminating intermediaries ended with the founder (Ross Ulbrich) sentenced to life in prison in the United States and with a great controversy on a subject that has subsequently been debated in other tools: is the provider of a tool the culprit of what people do with it?

But no, when LGR brings us Silk Road, it does it from a more classic sense. The term “silk road” comes from the Renaissance, in which Marco Polo’s travel books describe the silk road as a great trade route that starts in China, croses all of Asia and all of Europe, and reaches most important ports in Europe, such as Venice at that time.

This is precisely the objective of LGR, it seeks to create a banking platform that will connect all the countries that are crossed by this historic trade route.

What is LGR Group?

LGR Group is a company founded with headquarters in Belize and specialized in banking and trade services and gold (in all its business lines).

Currently its core business is the gold trade, from producers (especially in Africa) to distributors or transformer refineries. It also has a major branch of commodity trading, thanks to its contacts in the Middle East oil sector.

In recent times they also have cryptocurrency exchange activities for high volume (OTC) clients.

And in the near future its big bet is the Silk Road Coin and Banking Platform.

 

What is Silk Road Coin?

Silk Road Coin is the cryptocurrency backed of the future cross border money movement and crypto banking services platform between Silk Road countries that aspires to unify all the countries that the Silk Road travels, forming a common market and with access by all of them under the same currency. It is interesting to remember that we are talking about 65 countries including China and many European countries, accumulating up to 1/3 of the total world population. Achieving the challenge of unifying them economically is a dream, which can be very profitable. And that it has the endorsement of the main Asian commercial organizations involved.

The objective is to help increase the wealth of nations and the standard of living of their citizens through trade.

On a technical level we are talking about a currency built under the Waves blockchain, one of the fastest, safest and most decentralized blockchains in the world. This is done to allow smooth operation and to not be affected by network saturation, as is often the case with the Ethereum network. Initially, we are dealing with a “coin”, which has its price linked to the euro (although in ICO it is cheaper).

The value proposition for Silk Road Coin includes reputable international trade professionals working towards those who initially acquire SRC tokens:

  • Cross-border payments between the member countries.
  • Interconnection of banks and financial systems of the member countries.
  • Crypto-banking services:

◦ Exchange from fiat to crypto and vice versa.

◦ Credit card.

◦ Cryptocurrency loans and deposits.

◦ Currency exchange for goods and smart contracts.

In this way, those who initially choose to be part of SRC will see how LGR experts analyze dozens or hundreds of projects and give way to the most powerful ones, thus having access to investments (and returns) that until now were only reserved for the private sector OTC.

 

The Silk Road Coin ICO

As best is “lead by example.” SRC was created under the Waves blockchain, so there was no need to host a typical ICO, in a typical exchange. Firstly, for the associated costs it has, but above all for the dangers derived from the centralization of the point of sale. You are exposed to attacks, robberies and hacks.

Therefore, this phase of the ICO is carried out in the form of a decentralized exchange on the Waves blockchain.

To do this, you just have to install the Waves DEX, and from there we go to the “trades” tab, and look for the SRC token identifier: CjhHBGdQycCgmP4vRoWvEL1SLzSUw5d2gwVs4fR84DBU. With this we can perfectly identify the token in the market and accept the sale offer or make a new offer, always in a decentralized exchange format as we have seen in other exchanges that exist outside of ETH where their tokens can be traded.

Other forms of purchase involve currency exchange, so it is best to go directly to the ICO page on the LGR Group website.

Here are some of the technical details of the token and the ICO:

  • Total offer: 1,000,000,000 SRC tokens.
  • Soft cap: 100,000,000 SRC tokens.
  • Hard cap: 500,000,000 SRC tokens.
  • Price: at 1 EUR. ICO price 0.90 EUR
  • Deadline: the ICO ends on April 30, or when the soft cap is reached.

 

Conclusion

If you are looking for a complete ecosystem managed by professionals, Silk Road Coin by LGR Global is a great investment opportunity.

 

Official Links