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Altcoin Analysis: NEO, EOS, LTC, DASH and Lumens

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Bears all over guys and so far, all altcoin gains from last week’s bullish run has been reversed. LTC, EOS, NEO, Lumens and even DASH are on a down trend testing last week’s lows.

Let’s have a look at these charts:

XLM/USDXLM/USD Daily Chart for February 23, 2018

So far, Lumens sellers are trending right at last week’s lows and that’s a 100% retracement as far as price action is concerned.

Now, the thing is this week has been largely bearish-we can see that and track from what has been happening over the past couple of days.

If we zoom into the 4HR chart we notice that bear momentum is waning as candlestick are beginning to print away from the lower BB with stochastics at over sold territory.

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LTCUSD Technical Analysis for 02/23/2018 – Another Break and Retest

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LTCUSD recently broke above its descending trend line to show that a reversal is underway. The 100 SMA has also crossed above the longer-term 200 SMA to show that bullish momentum is returning.

At the same time, the 50% Fibonacci retracement level lines up with the dynamic support at these moving averages. This adds to its strength as support, especially since it lines up with an area of interest around the $175 level.

However, RSI is still on the move down to show that there’s some selling pressure left. This means that a larger pullback to the 61.8% Fibonacci retracement level or even the broken trend line resistance is still possible.

Stochastic is already dipping into oversold territory and looks ready to turn higher to indicate that bullish momentum could pick up. In that case, price could resume its rally to the swing high near $250 and complete an inverse head and shoulders pattern that could lead to a longer-term climb.

Dollar demand ticked lower recently but cryptocurrencies were left behind on the risk rallies. Regulation concerns are back as the SEC charged former cryptocurrency exchange BitFunder and its founder Jon E. Montroll with fraud for allegedly running the operation as an “unregistered securities exchange” and defrauding users of that exchange.

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Asian Altcoin Trading Roundup: Top Cryptocurrency is DigixDAO

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The selloff continues as the week ends in crypto land. Asians are leading the way and dropping their digital currencies for the third day in a row. Bitcoin has lost 8% on the day and has dropped back to just over $10k, altcoins as usual have been hit harder and are all in the red during this morning’s Asian trading session.

We have to go a long way out of the top 25 to find one that is actually up on the day. The only one in the top slot that is even in the green is Nano which we featured yesterday. Still trading higher on news of the app release, Nano is up 3.8% on the day – every other altcoin has fallen.

The next cryptocurrency that is up is DigixDAO, the gold based crypto that seems to do well when all others are falling. DGD is up 4.2% on the day, trading at $318 at the time of writing and has had a very good week gaining 34% from $235 this time last week. The only major difference with this coin is that it is based on a commodity which is why it seems to weather the storms better when all others are plummeting.

There are only 2 million DGD tokens circulating, most of which are traded on Binance which has almost 90% of the total. Market capacity currently stands at $635 million and it is ranked at number 35. $77.5 million has been traded in DGD over the past 24 hours.

All other altcoins are in the red but ones that have not taken such a hit include Ethereum, Neo, Bitcoin Gold, Rchain, and Maker. There are some bargains out there for those that like to buy the dip however the dip could keep dipping throughout the day.

Original linkOriginal author: Martin J. Young
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Ethereum Price Technical Analysis – ETH/USD Decline Looks Real

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Key HighlightsETH price faced a lot of selling pressure recently and declined below $810 against the US Dollar. Yesterday’s highlighted major bearish trend line with current resistance at $820 is intact on the hourly chart of ETH/USD (data feed via SimpleFX). The pair may correct a few points in the short term, but it remains in a downtrend below $840.

Ethereum price extended losses against the US Dollar and Bitcoin. ETH/USD declined as low as $776 and it is currently correcting higher toward barriers.

Ethereum Price Resistance

There was no major upside move in ETH price above the $860 level against the US Dollar. The price struggled to correct higher and it started a downside move below the $840 level. It declined and broke a couple of support levels such as $810 and $800. It traded as low as $776 from where a minor upside correction was initiated. However, the price may face many barriers on the upside on the way to $810.

It has moved above the 23.6% Fib retracement level of the last decline from the $858 high to $776 low. However, there is a major resistance near $810-820. More importantly, yesterday’s highlighted major bearish trend line with current resistance at $820 is intact on the hourly chart of ETH/USD. The trend line resistance is close to the 50% Fib retracement level of the last decline from the $858 high to $776 low. Therefore, if the price corrects further from the current levels, it could face sellers near the $820 and $825 levels. Above $825, the next major barrier for buyers is at $840.

On the downside, the recent low at $776 is a key intraday support. If the price fails to stay above $776, then it could accelerate declines towards the $750 level.

Hourly MACD – The MACD is gaining pace in the bearish zone.

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The 5 Top ICO Projects to Keep an Eye in February-March 2018

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2018 had started with a large increase in cryptocurrency world. That success has later been a bit smudged with the slight overall market fall in mid-January, but the currencies are growing again, despite the high volatility.

Multiple projects are being developed to capitalize on growing coins and blockchain technology popularity. We outline 5 most promising projects that use Initial Coin Offering model and are making their way through the market at the end of winter and the first month of spring 2018.

1) Cappasity

The Capacity project had set its sights on developing tools to revolutionize AR/VR and 3D technologies, this project has already introduced a professional 3D digitizing solution.

The Ecosystem economy of the platform is designed to be driven by the market. Thus, the Marketplace is the key economic unit where goods turnover occurs. Using the Marketplace, participants are free to rent, sell and buy AR/VR/3D content as well as released apps. Each content file is assigned with an ID or a hash to prevent any copyright infringement. All hashes of all the files are listed in the blockchain and cannot be changed.

The API is used for synchronization with product catalogs as the Cappasity tool could be implemented for customers’ e-stores. Additionally, Cappasity tools show better compatibility with various browsers than most comparable alternatives. Cappasity.AI to analyze customer interaction with 3D content and provide a customer interest heat maps for each product.

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Bitcoin Cash Price Technical Analysis – BCH/USD Breaks $1,200

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Key PointsBitcoin cash price did not correct higher and declined below the $1,200 support against the US Dollar. There are two bearish trend lines forming with resistance at $1,250 and $1,280 on the hourly chart of BCH/USD (data feed from SimpleFX). The pair may decline more in the near term and it could even break the $1,100 support level.

Bitcoin cash price declined further below $1,200 against the US Dollar. BCH/USD looks set to extend the current decline towards or below $1,100.

Bitcoin Cash Price Resistance

There was no stopping sellers as bitcoin cash price failed to correction above the $1,300 level against the US Dollar. The price declined and broke yesterday’s low to trade below the $1,200 level. It opened the doors for more losses and the price traded towards $1,150. A low was formed at $1,134 and it seems like the price is struggling to correct higher in the short term.

On the upside, the price is facing resistance near the 23.6% Fib retracement level of the last drop from the $1,325 high to $1,134 low. There are many resistances on the upside below the $1,300 level. More importantly, there are two bearish trend lines forming with resistance at $1,250 and $1,280 on the hourly chart of BCH/USD. The first bearish trend line is close to the 50% Fib retracement level of the last drop from the $1,325 high to $1,134 low. Therefore, a break above the $1,250 and $1,260 levels won’t be easy. Above $1,260, the second trend line at $1,280 is the next hurdle.

On the downside, the recent low of $1,134 is a short-term support. If the price breaks the stated level, it could test the $1,100 level.

Looking at the technical indicators:

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Blockchain can Save the Asset Management Industry Billions Every Year

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Digital solutions will go a long way in the financial industry. Right now, a lot of processes still require manual labor. It is cost-inefficient, cumbersome, and introduces unnecessary delays. The asset management sector can certainly benefit from the performance increase provided by blockchain technology.

Blockchain in the Financial Sector

It is evident distributed ledgers will play a big role in the future of finance. Not just in terms of banking or remittance either. Instead, new research indicates blockchain can revamp the asset management business as a whole. More specifically, the technology can automate buying and selling of funds, which will lead to major cost reductions. Giving investors more bang for their buck is always an option worth looking into.

Looking at the current daily trading volume across the busiest markets, total savings may add up to $2.7bn. That is a rather significant amount which should not be overlooked whatsoever. Using a distributed and decentralized market infrastructure will have many different benefits. Saving on costs is, perhaps, the biggest selling point in this regard.

However, the blockchain will also introduce additional transparency. It will also lead to new industry-wide standards to automate most of the financial entries recorded by different companies. As of right now, most of that information is still inputted on a manual basis. Staffers need to be paid to complete the tasks, which is both costly and time-consuming at the same time.

Transforming Asset Management Solutions

One thing most people don’t realize is how these added costs are paid by the end investor. That is a situation which needs to change sooner rather than later. A lot of money is “wasted” on manual labor which could easily be automated in this day and age. Whether or not blockchain is the best solution in this regard, remains difficult to predict.

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AT&T and Bayer tap Blockchain to Disrupt Digital Advertising

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Digital advertising is an industry prone to disruption in many different ways. Major brands are trying to introduce a new degree of transparency to this industry in the future. Even AT&T and Bayer are banking big on blockchain technology in this regard.

Disrupting Digital Advertising

It is unclear what the future will hold for digital advertising. The current business model suffers from a lack of transparency. At the same time, advertising fraud is on the rise. Something will need to change sooner rather than later. Bayer, the pharmaceutical giant, has been vocal about issues affecting the digital media supply chain.

More specifically, the company warned about fraud and waste since 2016. Ever since that time, very little action has been undertaken to improve that situation. Using blockchain technology to alleviate some of these concerns is certainly an option worth exploring. Bayer is working together with Amino Payments.  As such, Bayer is now experimenting with blockchain-based campaigns. It is a small step in the right direction.

Interestingly enough, there is another major player working together with Amino Payments. That is none other than AT&T, the famous telecommunications provider. That company is also concerned about the fees taken by intermediaries when it comes to digital advertising. There is no real transparency to make any proper assessments in this regard as of right now.

The Role of Blockchain Technology

AT&T has now begun experimenting with blockchain-based advertising solutions earlier this year. They see merit in the “bidded programmatic space”. It is of the utmost importance advertisers know how their budget is being spent. Without any transparency solution in place, it is impossible to determine how that plays out. If advertisers don’t get their money’s worth, there’s no reason to continue with the current digital advertising model.

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UK parliament’s Treasury committee launches cryptocurrency inquiry

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An inquiry into cryptocurrencies has been launched by an influential UK parliamentary committee. The Treasury Select Committee of the House of Commons announced today that it will begin hearings on “digital currencies and distributed ledger technology”.

Contrary to reports on CoinDesk and elsewhere, the Treasury Select Committee is not an arm of the government or HM Treasury, and as such it can only make recommendations as opposed to laying down rules and regulations.

Nevertheless, the committee has the power to take oral and written evidence from both regulators and industry bodies as well as cross-examine individuals at its hearings. The reports of parliamentary committees can sometimes act as the foundation upon which legislation is brought forward by government.

Nicky Morgan MP, the chair of the parliamentary committee and a former secretary of state for education, says the inquiry will assess the “regulatory response” of the UK’s main financial regulator, the Financial Conduct Authority (FCA), as well as the attitude of government and the position of the Bank of England, the country’s independent central bank.

Morgan, a member of parliament for the ruling Conservative party, worries that consumers are oblivious to the lack of regulation in the cryptocurrency arena. “People are becoming increasingly aware of cryptocurrencies such as Bitcoin, but they may not be aware that they are currently unregulated in the UK, and that there is no protection for individual investors,” said the lawmaker.

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Ripple Price Analysis: XRP/USD to Decline Further?

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Ripple price declined recently and moved towards $0.9300 against the US Dollar. XRP/USD is currently at a risk of more declines and it could break $0.9300.

Key Talking Points

Ripple price started a downside move from the $1.1994 swing high against the US Dollar. There was a break below a major bullish trend line with support at $1.108 on the 2-hours chart of the XRP/USD pair (Data feed via Bitstamp). The pair is currently under pressure and it may decline further below the $0.9300 level.

There was a short-term top formed in Ripple price above the $1.1900 level against the US Dollar. The XRP/USD pair formed a high at $1.1994 and started a downside move. It declined and traded below the $1.10 and $1.04 support levels.

The price is now trading well below the $1.00 level and the 100 simple moving average (2-hours), which is a bearish sign. It also moved below the $0.9600 support and traded close to the $0.9250 level.

During the downside move, there was a break below a major bullish trend line with support at $1.108 on the 2-hours chart of the XRP/USD pair. The pair traded as low as $0.9292 and it is currently correcting higher.

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