It is now likely that alt coin Monero bears will drive prices lower after price action failed to close above $136 on 5 different occasions after November 12. Generally, most alt coins other that NEM seem to be shedding their recent gains. Alt coin NEO is a perfect example. Let’s look at the charts: NEM … Continue reading ALT COIN MONERO BEARS SHALL DRIVE LOWER IF PRICE ACTION FAILS TO CLOSE ABOVE $135
It is now likely that alt coin Monero bears will drive prices lower after price action failed to close above $136 on 5 different occasions after November 12.
Generally, most alt coins other that NEM seem to be shedding their recent gains. Alt coin NEO is a perfect example.
Let’s look at the charts:
NEM INCHING HIGHER AND FURTHER FROM THE 20 PERIOD MA
After period of consolidation and NEM price action trending around the support zone of around $0.20, price action continued to swing higher yesterday.
As we can see with yesterday’s bullish candlestick which was also accompanied by buy momentum as stochastics momentum shows.
Note that after November 16 above average volumes and a bullish candlestick with a $0.08 Hi-Lo, NEM prices have been inching higher. Besides that, price action is gradually moving further away from the now support 20 period MA.
We recommend NEM bulls to continue loading their long positions.
On top of the over-extension, there was a bear divergence and consequently, we saw USD bulls driving prices lower and shedding $84 on November 19.
November 18 lows of around $410 will act as our immediate support now that bull momentum is decreasing even in the daily chart. Notice those lower lows relative to the upper BB.
These IOTA higher highs and upper BB hugging hint at strong bull momentum. If IOTA bulls continue to rage, immediate resistance lines will be at $0.98 and $1.1.
For that to happen, we have to check price action for any close above November 16 highs of $0.90. Any close above that with no stochastic sell especially in the 4HR chart means bulls are in charge.
Otherwise if USD bulls jump in and drive prices lower, bears should initiate sells.
ALT COIN MONERO BEARS IN CHARGE AFTER PRICE ACTION TESTS $136
Even after 7 days of decreasing momentum and lower lows relative to the upper BB, alt coin Monero is still resilient and stagnating at resistance zone.
Judging from volumes chart, November 18 was bullish but prices were buoyed mainly by sentiment. Check out the participation levels which kept decreasing after November 12. In the 4HR chart, the path of least resistance is a correction towards immediate support at $120.
First of all notice that price action failed to close above September 9 highs of $136. With this realization, it is increasingly becoming likely that alt coin Monero bears shall push prices lower.
Even though Monero bulls inject momentum, prices have been closing with long upper wicks below $136 in the past 8 days. That itself is caution enough.
NEO HITS $45 BUT CORRECTION IS IMMINENT
After hitting bull targets on November 18, NEO is now retracing. The bull ride was very strong and abrupt. As a result, our triggers will be based on two things that will determine the short to intermediate term trend of this cryptocurrency.
The first one is the reaction at the main resistance-previous support-trend line on November 19. NEO prices reversed sharply after testing $45 which was also a key resistance line marking September 23 highs.
In the 4HR chart, there is a clear bear divergence after that USD drive on November 19. Other than the bear divergence on the 4HR chart, November 18 candlestick close was above the upper BB. This means NEO was temporarily over-valued and now prices is correcting low for equilibrium purposes.
Despite stochastics being bullish we have to see how today’s prices will close. That will largely depend on how prices will react around $34 support line.
Bitcoin: The Thing? Seeking Alpha Of late onshore and offshore BEP’s (breakeven points) are coming down… Is this a double edged sword? Many players have exited? A reduced number of competitors in the pool, with limited capital resources directed towards the leaner lower BEP threshold …
Bitcoin: The Thing? Seeking Alpha Of late onshore and offshore BEP's (breakeven points) are coming down... Is this a double edged sword? Many players have exited? A reduced number of competitors in the pool, with limited capital resources directed towards the leaner lower BEP threshold ...
Things have been looking pretty good for holders of the NEO cryptocurrency. Despite a sharp dip late last night, the NEO price is still maintaining a sense of stability around the $40 mark. Last night’s dip created an excellent buying opportunity, to say the least. It is evident the NEO price will be affected by a fair amount of market resistance in the coming hours, though. NEO Price Rally Isn’t Over yet While things may have looked a bit bleak for the NEO price when last night’s dip occurred, the market has rebounded pretty well afterward. More specifically, seeing the
Things have been looking pretty good for holders of the NEO cryptocurrency. Despite a sharp dip late last night, the NEO price is still maintaining a sense of stability around the $40 mark. Last night’s dip created an excellent buying opportunity, to say the least. It is evident the NEO price will be affected by a fair amount of market resistance in the coming hours, though.
NEO Price Rally Isn’t Over yet
While things may have looked a bit bleak for the NEO price when last night’s dip occurred, the market has rebounded pretty well afterward. More specifically, seeing the NEO price drop from $42 all the way to just under $37 in a matter of a few hours isn’t fun for anyone. The people who were waiting to buy in received the opportunity they were waiting for when that dip occurred, though.After all, the NEO price quickly bounced back to over $40 in the next 90 minutes.
All of this seems to indicate there’s a lot of solid NEO price momentum in place right now. While it remains unclear if this trend can be sustained for a few more days or weeks, there is some good money to be made at this point in time. Even though there is still a lot of volatility as far as the NEO price is concerned, daytraders are making solid money thanks to these fluctuations. Overall, NEO is losing ground in both USD and BTC value right now, though.
To put this latter aspect into perspective, the NEO price has lost 3.63% in USD value. That is nothing to be overly concerned about, yet the current Bitcoin price trend will make this gap even wider in the next few hours. The worrisome part is how NEO loses ground compared to Bitcoin directly, resulting in an 8.21% drop. Altcoins continue to struggle with their BTC relation whenever Bitcoin’s value goes up, that much is certain.
One thing working in favor of the NEO price momentum is the strong trading volume. Demand for this altcoin remains surprisingly high, as nearly $300m worth of NEO has changed hands over the past 24 hours. This volume is larger than some other top 10 cryptocurrencies, even though a lot of people are merely chasing the pump rigid now. Moreover, once people convert back to Bitcoin, this volume will only grow larger for the wrong reasons.
Bittrex remains the bastion fro NEO trading these days. They are the only exchange processing over $100m worth of volume. Unfortunately, this also means this single exchange is responsible for nearly 50$ of all NEO trades in the past 24 hours. Bitfinex and Bitfinex are also in the top three, but their trading volume is far more modest compared to Bittrex. An interesting scenario well worth keeping an eye on, although no one knows for sure how this will play out in the long run.
All things considered, NEO will be one of the altcoins facing some uphill battles in the coming hours. With the Bitcoin price reaching another new all-time high, altcoins will eventually start to bleed badly. This will have an effect on the NEO price as well, although it is difficult to predict how this will all play out. Cryptocurrency is attracting a lot of money right now, and Bitcoin isn’t the only currency to benefit from this momentum.
Rally Fatigue? Low Bitcoin Volumes Could Cap Upside CoinDesk Bitcoin prices are at their highest ever, but there may be a chink in the cryptocurrency’s armor. Just a week ago, the bitcoin-U.S. dollar (BTC/USD) exchange rate hit lows near $5,500. Then, by Friday, prices were flirting with fresh record highs …
Rally Fatigue? Low Bitcoin Volumes Could Cap Upside CoinDesk Bitcoin prices are at their highest ever, but there may be a chink in the cryptocurrency's armor. Just a week ago, the bitcoin-U.S. dollar (BTC/USD) exchange rate hit lows near $5,500. Then, by Friday, prices were flirting with fresh record highs ...
The NAGA Group, creators of the first blockchain-based ecosystem for decentralized trading, investing, and education in financial markets, virtual goods, and cryptocurrencies. has announced the launch date of their NAGA Coin (NGC) token pre-sale. —————————————————————————————————- Who is The NAGA Group? Naga Token Sale is LIVE! Hurry up to get the 30% Bonus. Founded in 2015, … Continue reading German FinTech Company NAGA Group to Launch Token Pre-Sale Today
The NAGA Group, creators of the first blockchain-based ecosystem for decentralized trading, investing, and education in financial markets, virtual goods, and cryptocurrencies. has announced the launch date of their NAGA Coin (NGC) token pre-sale.
Founded in 2015, The NAGA Group AG broke records earlier this year, launching the fastest-performing German IPO in the last 15 years. Listed on the German Stock Exchange in Frankfurt, NAGA Group shares are currently trading at nearly 500% above their original issue price. The company employs a team of over 120 people and has a market cap of over $250 million USD.
The NAGA Group’s flagship product is SwipeStox. Combining social features like chat channels, timeline updates, following and watching other users, etc… with a robust trading platform, SwipeStox is designed to take the confusion out of trading. Launched in 2016, SwipeStox boasts tens of thousands of active users, millions of dollars in annual revenues, and a total trade volume of over $49 billion to date.
Switex, another NAGA Group product, is the first independent legal virtual goods exchange platform. It allows video game players to buy in-game virtual items from other gamers as well as from the game publishers themselves. Other virtual items, such as concert and movie tickets, e-gift cards, etc…, can also be bought and sold on the platform. Currently in alpha, Switex is expected to launch in Q4 2017.
NAGA Token Pre-Sale
The NAGA token pre-sale will begin on November 20, 2017 and will end on November 27, 2017 or when the pre-sale token supply (20 million NGC) sells out.
Biggest Names in the Crypcommunity Join NAGA Group
As if NAGA Group wasn’t stirring up enough excitement already, on November 15, 2017, they announced that two of the biggest names in cryptocurrency – Bitcoin.com CEO Roger Ver and COO Mate Tokay – had joined the project’s Advisory Board. In addition, it was also revealed that the founder of the Evercoin cryptocurrency exchange and Limited Partner with Pantera Capital, Miko Matsumura, had joined the Advisory Board as well.
All three men bring a wealth of cryptocurrency and financial knowledge and experience to the table and it will be interesting to see how their influence and guidance will help shape the project’s future. Moreover, Naga’s Tokens Sale PR provider is Byzantium Agency with a substantial experience in the sphere, that will also help shape the strategy and campaign.