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Azeez Mustapha

Cardano price forecast: ADA downtrend remains unchanged

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Key Highlights

  • The market is under huge bearish pressure, because the trend of the ADAUSD is on the downside, and the bears are steadily driving the price the nearest major demand zone at $0.02
  • However, the bulls, on the other hand, have already positioned themselves at the zone mentioned above to activate their investment buy trade decisions
  • The demand zone above signifies a major confluence arena, where the bulls have a high probability of lunching a buy order because the bears would have considered the zone as a maturity investment zone as taking profit

Current Statistics of ADA

Current market price: $0.051

Market Capitalization: $1,321,503,749

Trading Volume: $48,665,588

Major supply zone: $0.0.09, $0.107, $0.240

Major demand zone: $0.02, $0.01, $0.003

The intentions of Cardano as a cryptocurrency project

News revealed that Cardano platform is designed to maintain the operation and platform of cryptocurrency. The platform is multifunction and multilayered and gives the system the elasticity to be easily maintained. Cardano aims to become an internet of Blockchain, which makes it possible for all cryptocurrency to harmonize side by side.

Cardano Price Analysis August 8, 2019

Market analysis shows that the Cardano price is heading to the downside steadily, the bulls could not hold down the bearish pressure simply because the overall trend of ADA/USD pair is in a disadvantage.

The target ahead of the bears for ADA is located at the significant confluence zone at $0.02, and there is a high probability that the buyers will surely defend the above-mentioned primary demand zone, to limit the market from being going down deep.

CARDANO DAILY ANALYSIS

Chart Indicators Reading

All the market indicators are also under bearish pressure, by signaling for more downpour of the Cardano trend. The analysis had shown the current market structure is in a downward price movement except if the Buyers invalidate the view.

The bears are very much in the ADA/USD market, and in as much as the market trend is down, the sellers will continue selling off their investment for better profit maximization.

General Outlook for ADA

The market rests in a downtrend movement currently, and this downward trend may continue unless the significant confluence demand zone at 0.02 USD holds to favor the buyers. The trend is also on the downside for Cardano, and it is imperative and highly profitable to follow the pattern as our companion.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

TRON price forecast: TRX price ranges after a downward correction

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 Key Highlights

  • The coin is likely to continue its downward fall
  • On the other hand, the TRX market may range for a few days following the presence of small body candlesticks
  • The  small body candlestick described the indecision between buyers and sellers at the current market price

TRON Current Statistics

The current price: $0.021

Market Capitalization: $1,466,564,670

Trading Volume: $476,773,338

Major supply zones: $0.026, $0.028, $0.030

Major demand zones: $0.02, $0.018, $0.016

Latest News around TRON

It was reported that the founder of TRON was going to launch the first version of the Tron scalability solution, which is called Sun network. The new scheme is likely to be out on August 10. Some of the features of the new scheme are to provide limitless capacity for TRON main network and to support the increasing number of contacts. It was stated that it would feature at no cost businesses, lower charges, and a decentralized application.

TRON Price Analysis August 8, 2019

In June, TRX/USD pair reached a high of $0.040 price level but was resisted. The market commenced a downward correction. The bears broke the supply zones of $0.030 and $0.035 price levels.

The downward trend was corrected at the $0.020 demand zone. However, at the $0.020 demand zone, the bulls made an upward move but were resisted at the $0.030 price level. The market is consolidating at the $0.022 price level. The upward movement may not get sustained.

Tron TRX daily price analysis

Chart Indicators Reading

The upper trend line is a bearish trend line. If the bulls make an upward move and break the trend line — and another candlestick closes on the opposite of the trend line; then it is assumed the bearish trend is terminated. The coin is likely to resume its bullish trend. Both the 12-day and 26-day EMA are hinting southward pointing that TRX price is falling.

The price tested the lower trend line and commenced an upward movement. On the other hand, if the bears had broken the lower trend line, the market will further depreciate. In the meantime, the signal and MACD line both rest beneath the zero line indicating a sell signal.

General Outlook for TRX

The price of TRON is making an upward move towards the supply zone of $0.025 price level. On the positive side, if TRX bulls break above the 0.025 USD price level, Sun-led cryptocurrency’s price would rise and retest the 0.040 USD overhead resistance. On the other hand, if the bulls fail to break above the $0.025 price level, the market will fall.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Binance Coin price forecast: Bearish pressure likely to continue on BNB

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Key Highlights

  • BNB/USD pair is on a downward fall to the demand zones of $20 and $24 price level
  • The market is likely to rise at the demand zone of $24
  • On the other hand, if the price is holding at the $27 price level, the crypto’s price may rise

Binance Coin Current Statistics

The current price: $27

Market Capitalization: $4,284,717,901

Trading Volume: $186,252,003

Major supply zones: $32, $36, $40

Major demand zones: $24, $20, $16

Binance Coin price analysis based on August 6, 2019 data

In May, BNB/USD pair reached a high of $36 price level. In June the bulls broke the $36 resistance level and reached a new high of $40. However, the market was resisted at the $40 price level, and the coin was on a descending correction.

The bears broke the supply zones of $40 and $36 price level to reach the demand zones. On July 16th, the downward trend line of Binance Coin (BNB) got corrected at the $24. The bulls took control of price and made an upward move to the supply zone but were resisted at the $32 price level.

Binance Coin BNB technical price chart analysis

Chart Indicators Reading

The upper trend line is a bearish one. If the price of BNB breaks the trend line, and another candlestick is closed on the opposite of the trend line; the coin is likely to rise to retest the supply zones. The lower trend line connects the previous low of May 9 and July 16.

If the bears break the lower trend line, the market will reach the previous low of $20 price level. Meanwhile, the signal line, as well as the MACD line, are underneath the zero line which hints a sell signal. The price of Binance coin rests below the 26-day EMA and 12-day EMA, which implies that the price is more likely to fall.

General Outlook for BNB

BNB/USD pair is dominated by small body candlesticks similar to Spinning and Doji tops that described the indecision between sellers and buyers at the present market price. The price of Binance Coin is consolidating at $27 price level for a possible bullish or bearish breakout. A bearish breakout will compel the crypto to depreciate further while a bullish break out will push the price upwards.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Bitcoin Cash price forecast: BCH may continue its upward movement

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Key Highlights

  • BCHUSD pair is likely to rise as price breaks the trend line.
  • On the upside, the Bitcoin Cash (BCH) price is likely to rise and retest the $400 and $440 price levels as bulls break the initial supply at $400.
  • BCH price is approaching the overbought region of the Stochastic indicator as the coin is in a bullish momentum and sending a buy signal.

Bitcoin Cash Current Statistics

The current price: $339

 Market Capitalization: $6,093,423,379

Trading Volume: $1,612,843,829

Major supply zones: $440, $480, $520

Major demand zones: $280,$240, $200

Latest News around Bitcoin Cash

Bitcoin.com is likely to commence exchange early in September, which will also include Bitcoin Cash. The company felt that the public will accept the Bitcoin Cash network and encourage free markets and choice. In September, the exchange intends to incorporate and launch coins like  Bitcoin, Ethereum, and Litecoin.

Bitcoin Cash Price Analysis August 6, 2019

Currently, the BCH/USD pair boasts an upward move as it broke the initial demand at the $320 price level. The coin had been in a bullish trend after the downward correction at the $280 price level. After the downward correction, the coin was characterized by the presence of little body candlesticks similar to Doji or Spinning tops.

These are candlesticks which describe the indecision between sellers and buyers at the current price. On the upside, the bulls broke the initial resistance at the $329 price level, and are approaching to retest the $440 and $480 supply levels.

Bitcoin Cash BCH technical price chart

BH Chart Indicators Reading

BCH market stands in the overbought area of the daily stochastic but still above the 60% range. This suggests that price is in a bullish momentum currently, and gives a buy signal. On June 27, the price had been on a downward correction after the supply at the $480 price level. On July 14, the downward trend was corrected at the $280 price level.

The $280 demand level was holding as the bulls scored an upward move. On July 30, the bearish trend line was broken and another confirmation candlestick closed in the opposite direction. This hints that the bearish trend is likely to have been terminated.

General Outlook for Bitcoin Cash

BCHUSD is in a bullish trend region. The crypto’s price is likely to rise because the bulls broke the bearish trend line and a confirmation candlestick closed in the opposite of it. The market made an upward move and it is approaching a high of $360  price level.

Meanwhile, Bitcoin Cash market is in the daily stochastic’s overbought region but above the 60% range. This indicates that the market is likely to rally.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Stellar price forecast: XLM in the green but bearish pressure can resume

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Key Highlights

  • XLM/USD pair might continue to range
  • Stellar (XLM)’s market can further depreciate to the demand zones at $0.07 and 0.06
  • On the other hand, a rise in price is expected if further downwards movement is rejected

Current Stellar (XLM) Statistics

The current price: $0.082

Market Capitalization: $1,619,277,450

Trading Volume: $77,789,110

Major supply zones: $0.09, $0.1, $0.11

Major demand zones: $0.07, $0.06, $0.05

Stellar Price Analysis August 5, 2019

The price of Stellar was on a range-bound above the demand level. The price of Stellar is characterized by small candlesticks like the Doji and Spinning tops which describe the indecision between buyers and sellers at the current market price. The price will continue to range below the supply zones as long as the small body candlestick dominate the chart.

However, the market is below the supply zones which indicate that price is likely to fall. On the downside, in case the price falls, the market will reach the previous lows at the demand zones of 0.07 and 0.06. On the upside, if the bulls break above the $0.09 price level, XLMUSD will rise and retest the $0.1300 and $0.1400 price levels.

Stellar XLM technical price chart

 

Chart Indicators Reading

XLM market has reached the oversold region of the daily Stochastic but below 20% range. This indicates that price is still in a bearish momentum and a sell signal is likely. From the daily chart, if the bulls break the upper trend line, the crypto’s price is likely to rise and retest the supply zones.

On the other hand, if the bearish trend continues and breaks the lower trend line, the coin will further depreciate to demand zones. The 12-day EMA and the 26-day EMA are trending pointing southward.

General Outlook for XLM/USD pair

Even after today’s rise in the price, Stellar can still turn bearish and get weak. The market may further depreciate because the indicators in the chart are signaling further selling pressure. The  Exponential Moving Averages are trending southward, indicating that price is likely to fall.

Generally, the outlook for Stellar is bearish at the movement, unless the situation changes, owing to any unexpected fundamental factors. Let’s see if the current Stellar price rally has got some legs or it will reverse soon.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Tron price forecast: The bulls may knock out the bears soon

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Key Highlights

  • The TRX/USD pair price is currently at the key level, and it appears that the market could not break the current major demand zone at $0.023 because the price seems to have lost to follow through the bearish momentum.
  • The buyers are coming into the market to activate their buy investment since the bears could no longer pilot the Tron to their desired critical level. The trend of this Token is a bearish market but the trend is already weak and the buyers are already defending the key level to their advantage.

TRX/USD Current Statistics

The market price at the press time: $0.0224

Total Market Cap: $1,502,787,025

Trading Volume in the last 24-hours: $473,854,716

Major supply zones: $0.040, $.070, $0.096

Major demand zones: $0.010, $0.006,$0.001

Tron Price Analysis July 31, 2019

Based on market price analysis, we could see the price forming a unique trading setup known as “Head and Shoulder” and if this setup valid we may see Tron (TRX) trending towards the upside in the next coming trading days.

The downtrend seems weak already because the buyers are already stepping into the market to make some investment trading buy decisions.

Tron TRX technical price analysis
TRX Chart Indicators Reading

The Chart indicators of the TRX/USD pair are also showing that the downtrend is weak. The market price is currently resting at the key major zone, price forming a trading setup called Head and Shoulder at the above-mentioned zone and the bulls are expected to activate their investment buy decision at the zone.

The next immediate supply zone is located around $0.085, and if the Sellers fail to defend this zone, then the bull may continue to push the price to the next available supply zone at $0.1000

General Outlook for Tron (TRX)

Presently, the trend is resting at a confluence zone at $0.023 and if the bulls could not defend this zone then the market will continue pouring down in the next coming trading days.

Therefore it would be a good decision to wait for the next direction of the trend since the price is currently at the major significant zone.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Tron price analysis: Will TRX break the confluence zone to the downside?

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Key Highlights

  • The price of Tron (TRX) is currently hovering around the confluence zone, and it is expected of the market to go up. TRX/USD pair has a high probability of visiting upside, of forming the second leg of the trading setup known as “Head and Shoulder.”
  • The over trend of this market is bearish, but the near term demand zone is located at $0.011, and if this zone holds, then the price may give limelight to the upside.

TRXUSD Current Statistics

Current market price: $0.022
Market Capitalization: $1,475,420,592
Trading Volume: $395,739,272
Major supply zones: $0.031, $.066, $0.075
Major demand zones: $0.011, $0.008,$0.001

Latest News on Tron

Sources say that the Tron CEO Justin Sun was unable to take part in the Warren Buffett lunch because of the trade tensions between the United States and China. The information added that Justin Sun lunch promotion was provocative according to the Chinese government; this is why the lunch didn’t take place at all.

Tron (TRX) Price Analysis July 30, 2019

The market price is currently moving around a confluence zone, but based on the market structure, the price is expected to form a trading setup called “Head and Shoulder.” And because of this, we are hoping for the Tron price to go up – and hit a minor supply zone at $0.031, after which the downtrend may likely to continue from thereof.

Tron TRX technical price analysis

Chart Indicators Reading

According to the chart analysis, the market structure may likely form the Head and Shoulder, and if this setup becomes valid, TRX/USD pair will more likely visit the low at the major demand zone. However, the above view would be invalidated if the price breaks the predetermine supply zone at $0.031 because the bulls would have dominated the entire coin.

General Outlook for TRX

As things stand, the overall outlook of Tron (TRX) market is bearish; the downtrend is expected to continue towards the major demand zone at $0.011. And if that zone gets defended by the bulls then, we may see the price recovering to the upside.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Electroneum Price Forecast: ETN holds a strong demand base, what’s next?

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Key Highlights

  • The market is currently at the major critical demand zone at 0.00000047BTC, the investors are already coming into the Electroneum market, and the demand would be higher than the supply.
  • The Token should begin slowly to show some bullish swing as expected; the price is unable to break to the downside because the buyers seem more hopeful that the market will go up considering the “Head and Shoulder” trading setup already formed.

Electroneum Current Statistics

Current Market Price: 0.00000047BTC

Market Capitalization: $43,900,155

Trading Volume: $1$132,535

Major supply zones: 0.00000075BTC, 0.00000097BTC, 0.00000150BTC

Major demand zones: 0.0000003BTC, 0.0000002BTC, 0.0000001BTC

Latest News around Electroneum

The news summary concludes that the new radical Electroneum upgrade has brought in some limelight for nonprofit miners. The announcement was also made that the UK based Electroneum platform has made all its local miners redundant and turned them all to charities and nonprofits.

Electroneum Price Analysis

Based on the price action of this cryptocurrency, the market is currently forming a unique trading setup known as “Shoulder Head Shoulder.” And if this setup finally plays out as expected, then the bulls will surely dominate the whole market for the next trading days ahead.

ETN price has finally rested at the oversold base level at 0.00000047BTC; the bears appeared to have taken out their long term investment profits at this level. And if this level holds firmly without being compromised, there would be a massive long term bullish bias.

Electroneum chart analysis

Chart Indicators Reading

The Moving Average indicator is already supporting that the bullish momentum should begin. On the other hand, all technical market tools are also pointing that the bullish rally should commence, considering the importance of Head and Shoulder trading setup we currently have.

General Outlook for ETN/BTC pair

The trend of the ETN/BTC pair is currently showing an uptrend, considering the powerful trading setup we are having at the current 4hour market analysis.

It is advisable to strictly follow the market structure and setup before making any investment decision on Electroneum or any other cryptocurrency.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Ripple price forecast: Will XRP see one more downswing before recovery?

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Key Highlights

  • The XRP/USD pair is expected to visit one more downward swing before a reasonable pullback, or bullish bias could be seen.
  • The Ripple (XRP)’s major demand zone at $0.24886 remains very strong, and there is a high probability that the price may not breakdown this zone.
  • Also, the buyers are focusing more on have a good investment entry point at the above major demand zone. And if this is well defended then, a bullish swing is guaranteed.

XRPUSD Current Statistics

Market price: $0.30819

Market Capitalization: $13,317,834,594

Trading Volume: $890,452,068

Major Supply zones: $0.45, $0.58, $0.80

Major demand zones: $0.15, $0.10, $0.05

Latest News on Ripple

We recently had that Ripple sent an open letter to U.S. regulators dated July 28, 2019, towards this week’s cryptocurrency regulation. The sources added that Brad Garlinghouse, Ripple CEO, requested to Washington to be more emollient about the approach of the coin (and cryptocurrency in general) in the future.

Ripple (XRP) Price Analysis

According to the price action analysis, it’s evident that the bear is expected to drive the market downward for one more bearish swing since the overall trend is downward, and the near term critical confluence demand zone at $0.24886 is a bit far from the current price.

However, the downtrend may turn to uptrend if the above mentioned significant demand zone is bridged and defended by the bulls.

Ripple XRP price analysis

Chart Indicators Reading

The market indicators are also proving there is a need for one more down step for XRPUSD before both the buyers and the sellers could fight the next course of moving out.

The next major demand remains the same as mentioned above, and the next focus of the buyers as a major demand zone remains valid at $0.57519

General Outlook for Ripple (XRP)

The long term general market structure remains bullish, and it is ideal to strictly follow the market trend divergence at any point time for profit maximization.

However, the near term major demand zone for Ripple (XRP) remains very active, as mentioned above, and the bulls will ensure this zone is well defended for bullish resumption.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Stellar price analysis: XLM may rebound for bullish bias at a key confluence zone

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Key Highlights  

  • The market promises to rebound for bullish bias at the confluence zone, after a considerably long run of the bearish market since May 16th, 2019.
  • The price is expected to form a bullish setup bias at the confluence zone around $0.067. And if this zone eventually holds, we may likely see a massive bullish rally in the XLM/USD.

XLMUSD Current Statistics

Current market price: $0.08425

Market Capitalization: $1,655,884,649

Trading Volume: $78,951,161

Major supply zone:  $0.141, $0.175, $0.222

Major demand zone: $0.04530, $0.02560, $0.015

Stellar marches in the right direction

Since its inception, Stellar (XLM) has been focusing well to have a strong technology backup, the innovative network system and model, and partnership with some of the IT gurus. The company is now focusing on the activities to gain public adoption for the coin, and this will further enhance the current market performance of XLM.

Stellar Price Analysis July 29, 2019

Based on what the XLM/USD pair is currently doing, the price is expected to form a powerful trading setup known as “Double Bottom,” and if this setup holds it is possible to have a bullish market rally towards the significant supply zone at $0.175 being the next desired target for the bulls.

However, the next major critical demand zone remains at $0.067, but if the bears successfully breakdown the above confluence zone, then Stellar market will continue in a downward trend – and this may invalidate our bullish bias analysis above.

Stellar Price Forecast

Chart Indicators Reading:

From our Stellar technical price analysis above, we see that most of the market indicators are already signaling that the price is at oversold level, a reasonable and decent pullback towards the upside is needed to enhance price stability.

The bulls are ready to lunch their buy missile at the primary zone ($0.067) since the level appears to be the most major confluence zone.

General Outlook for XLM/USD

The market is currently in a downtrend, and this downward movement may continue unless the primary confluence demand zone at $0.067 holds to favor the buyers.

However, the Stellar (XLM) price is currently reacting to the above major demand zone, and if this is valid, we may, therefore, see some bullish rally towards the next primary supply zone at $0.175.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.