Connect with us

Blockchain

Bitcoin Cash Price Prediction: BCH/USD Price Ranges as the Coin Holds $235 Support

Avatar

Published

on

BCH Price Prediction – June 14

In the past few days, BCH/USD price actions are consolidating below the moving averages.

BCH/USD Market

Key Levels:

Resistance levels: $260, $280, $300

Support levels: $215, $195, $175

BCHUSD – Daily Chart

BCH/USD is currently battling with the bearish pressure that continues to dominate the entire crypto landscape. A few actions were witnessed to the upside over the past few days. However, the zone between $235 and $240 remained intact as the key support level. The bulls are keen to ensure that the price stays above thec9-day and 21-day moving averages.

Moreover, despite the fact that the price reached as high as $242 yesterday, it was unable to maintain its performance and started to recede downwards. At the moment, BCH/USD moves below the 9-day and 21-day moving averages but the present trend indicates that BCH prices may fall marginally before the day runs out.

Furthermore, if the market drives below the $220 support, the BCH price could slump to $215, $195, and $175, bringing the price to a new monthly low as the RSI (14) is heading towards the 45-level. Meanwhile, if the bulls can hold the support at  $235, a strong buying pressure may likely take the price to $240 resistance. While trading at $250, a bullish continuation could touch the resistance levels at $260, $280, and $300.

Against Bitcoin, the last few days have given the bears an upper hand in controlling the market. Following the recent negative sign, the BCH/BTC trend may continue to go down in as much as the sellers keep on pumping more pressure into the market.

BCHBTC – Daily Chart

Looking at the daily chart, the market price may likely resume an upward trend if the bulls can hold the price at 2537 SAT and cross above the moving averages to reach the resistance level of 2700 SAT and above but as the technical indicator RSI (14) moves in the same direction, a retest could lower the price of the coin to the supports of 2400 SAT and 2200 SAT.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Source: https://insidebitcoins.com/news/bitcoin-cash-price-prediction-bch-usd-price-ranges-as-the-coin-holds-235-support

Blockchain

How Does the Future Look for Cryptocurrencies in the Financial Market?

Avatar

Published

on

The trading share of cryptocurrencies in the financial markets is getting bigger by the day, as professional and occasional investors redirect their funds from traditional assets to crypto coins. Billions of dollars, euros, pounds, and of other fiat currencies are used by traders, for the opening of new crypto trading positions, increasing crypto coin values, reputation, and market share. This is also one of the reasons, why new cryptocurrencies are regularly being launched. However, the supply of investment funds is not without limit, and on many occasions, it feels like a number of these new crypto coins are doomed for failure.

Today, cryptocurrency development stretches beyond its original creational limits, as even regulated institutions are investing in the creation of digital coins. These coins are generated to achieve collective wallet digitalization and consequently to gradually eliminate the need for cash. This, of course, is not something for which traders and investors care about, as their primary concern is how these assets will perform in the financial market. That being said, if a crypto asset is trusted and respected in the real world, then this will reflect on its performance in the world of finance. The problem is that for a cryptocurrency to earn the respect of the real economy, it will need to have enough time to mature.

 

Crypto Trading and Investment Challenges

Trading cryptocurrencies is not an easy task. There is a lot of research required, and there is a lot of work that needs to be done before opening a trading position. Experienced traders know that it is not something as fun and as easy as taking a spin on penny roulette, but those with less experience in crypto trading can end up facing heavy losses, just because they have not invested enough time to prepare for the worst-case scenario. Even though we have not seen any signs of a new cryptocurrency bubble burst for a long time, it does not mean that the threat is not there. This applies both to new cryptocurrencies as well as to those which the market categorizes as established.

Where Do We Go from There?

With a higher demand for digital monetary alternatives, it is only natural that countries, unions of nations, and Central Banks are looking towards finally regulating the crypto market. The regulation of such assets will set new standards for commerce and revolutionize the flow of money. It will, however, limit the profit potential of crypto coins, as it will no longer be possible for a cryptocurrency – whether it is new or old – to go from being worth peanuts to being worth as much as gold in a matter of hours.

👉Not being able to become rich overnight is bad news for those who dream of becoming wealthy through cryptocurrency trading, but it also comes with benefits. A regulated cryptocurrency market will discourage “dodgy trader” activity and reduce the risk of seeing toxicity forming in the crypto market. This will allow for the growth of crypto assets in a positively-charged environment, which will give them the time and stability they need to get to the same level of trust as that of traditional trading assets.

 

Source: Plato

 

Continue Reading

Blockchain

How Blockchain Can Help Your Business Grow

Avatar

Published

on

Ever since the introduction of Bitcoin in 2009, the world has changed the way it views fiat currencies and digital security. People were excited that they could finally transfer digital currency anywhere in the world without exaggerated banking fees or long hours.

The technology, however, proved so versatile that it has found its way into other uses as well. In 2020, there are so many businesses that use blockchain that we simply don’t have the time to enumerate them all in a single short article. But we will do our best to give you examples of ways the blockchain could potentially help you.

 

More Security

Hackers rarely sleep. That’s one statement that Sony forgot back in 2011. While it is unclear whether they now use the blockchain or not, many other companies have started implementing it with great results.

The encryption technology that the blockchain employs requires transactions and other processes to go through multiple nodes connected to the blockchain to get approval. This way, if a hacker attempts to do something malicious, the multiple nodes will eventually realize that fraud’s at stake and stop the transaction in its tracks.

More Payment Methods

People often think that the blockchain is meant solely for cryptocurrencies. That’s not true, at least not anymore. Banks all over the world have started implementing this tech to ease transaction times and lower processing fees.

Moreover, businesses that implement blockchain can use this technology to offer their customers multiple payment methods with seemingly endless currency options. One non-banking company that has proved the efficiency of this method is BetConstruct, offering more than 400 payment methods.

 

 

AI Integration

Through the blockchain, you can set up a reliable network of chatbots that can help out your customers.

With the help of the blockchain, these AI bots can easily communicate with one another and learn from each other based on what users respond, how they rate their satisfaction with the chat, and how customer support agents respond to users once the chatbot sends them their way.

 

Hire Better Employees

Small companies often don’t have the time or necessary resources to double-check the information in a CV. But with the help of the blockchain, you won’t need any of that.

Even today, there are still a lot of people seeking a job who ungracefully lie in their resumes. The blockchain can process all the data in a resume and send you the verified information to see if it’s legitimate.

Not only does this save you time, but it also means you’ll have hired the right person for your future projects. And we all know what having the right person can mean if you want your company to be successful.

 

Improve Your Marketing Campaigns

You’re probably aware of the usual marketing techniques like social media, video ads, billboards, SEO, SEM, and more. Look, you won’t need the blockchain to implement those tactics.

However, Blockchain can be used by marketers to keep track of client information and consumer behavior. With this data, skilled marketers can craft clever campaigns that bring greater ROI. You can also use the blockchain to track any changes made to your campaigns. If only David Ogilvy has had this tech at his disposal, who knows what he would’ve been able to craft.

 

👉🔥The Bottom Line

The blockchain has revolutionized businesses all around the globe the same way it has revolutionized the way people view money.

Implementing this technology for your business will net you tons of long-term benefits for an otherwise small investment considering all the things you’ll be getting.

Source: Plato

Continue Reading

Blockchain

Charted: Ripple (XRP) Technicals Suggest a Crucial Breakdown Below $0.24

Ripple started a steady decline and traded below the $0.2500 support against the US Dollar. XRP price is showing bearish signs and it might slide further below $0.2375. Ripple failed to stay above the $0.2500 support and extended its decline against the US dollar. The price is now trading below the $0.2450 support and the […]

Avatar

Published

on

Ripple started a steady decline and traded below the $0.2500 support against the US Dollar. XRP price is showing bearish signs and it might slide further below $0.2375.

  • Ripple failed to stay above the $0.2500 support and extended its decline against the US dollar.
  • The price is now trading below the $0.2450 support and the 100 hourly simple moving average.
  • There was a break below a key contracting triangle with support at $0.2415 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to continue lower towards the $0.2350 support or even $0.2320.

Ripple Price Turns Red

This past week, we saw a sharp rejection in ripple near the $0.2600 area. XRP price topped near the $0.2595-$0.2600 resistance zone and started a fresh decline. It broke many important supports near $0.2500 to move into a bearish zone.

The decline was such that the price settled below the $0.2450 level and the 100 hourly simple moving average. It spiked below the $0.2400 support and traded as low as $0.2379. Recently, there was a short-term upside correction above the $0.2420 level.

Ripple recovered above the 23.6% Fib retracement level of the main decline from the $0.2503 high to $0.2379 low. However, the bulls failed to clear the $0.2450 resistance and the 100 hourly simple moving average.

Ripple Price

Source: XRPUSD on TradingView.com

It was also rejected near the 50% Fib retracement level of the main decline from the $0.2503 high to $0.2379 low. As a result, there was a fresh decline below the $0.2420 level. There was also a break below a key contracting triangle with support at $0.2415 on the hourly chart of the XRP/USD pair.

The pair is now showing bearish signs and approaching the $0.2400 level. The next support is near the $0.2380 and $0.2375 levels. A clear break below the recent low could lead the price towards $0.2350 or even $0.2320 in the near term.

Chances of an Upside Break in XRP?

An initial resistance for ripple is near the $0.2420 level. The first key resistance is near the $0.2425 level and the 100 hourly simple moving average.

A successful break above the 100 hourly SMA and then a follow up move above the $0.2450 resistance might open the doors for a fresh increase in the near term. The next major resistance is near the $0.2500 level.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level.

Major Support Levels – $0.2400, $0.2380 and $0.2350.

Major Resistance Levels – $0.2420, $0.2450 and $0.2500.

Source: https://www.newsbtc.com/analysis/xrp/ripple-xrp-crucial-breakdown-below-024/

Continue Reading
Energy3 hours ago

nexAir acquires Atlanta-based medical gas supplier

Energy3 hours ago

Sight Machine Puts the True Smart Factory in Reach With Automated Optimization of Manufacturing

Energy3 hours ago

QMC Responds to Announcement of Canadian Electric Vehicle Production

Energy3 hours ago

United States $10.63 Million Cast LDPE (Low density Polyethylene) Disposable Gloves Market to 2025: Outbreak of COVID-19 to have a Positive Impact on the Market

Cannabis3 hours ago

7 Amazing Things to Know About Cannabis for an Amazing Love Life

AR/VR4 hours ago

HTC Vive’s XR Suite for Remote Collaboration Goes Live

Energy6 hours ago

Intelligent Power Module Market revenue to cross USD 2.5 Bn by 2026: Global Market Insights, Inc.

Energy6 hours ago

FP Markets amplía su oferta de valores CFD en productos, metales e indices

Energy7 hours ago

Xinhua Silk Road: Green transformation vital for coal coking dev. and B&R energy cooperation

Energy7 hours ago

Laureat Nagrody Nobla w dziedzinie chemii oraz międzynarodowi eksperci wezmą udział w organizowanym przez CBMM wydarzeniu poświęconym produktom akumulatorowym

Energy7 hours ago

El evento de baterías organizado por CBMM reúne al premio Nobel en Química y a expertos internacionales

Ecommerce15 hours ago

VTEX and Loop Integration Fuel Project N95’s Mission to Protect…

Ecommerce15 hours ago

BrandSpark Study Reveals the Most Trusted Service, E-Commerce,…

Ecommerce15 hours ago

Manifattura Valcismon Reaches Peak Performance with Centric PLM™

Ecommerce15 hours ago

Plotch Ecommerce ERP Announces Successful Onboarding of…

Ecommerce15 hours ago

Productsup Launches ‘Productsup Academy’ to Offer Online Training and…

Covid1916 hours ago

Air Travel High: TSA Screens 1 Million For First Time Since March

Energy17 hours ago

CleanEquity® Monaco 2020 – Apresentando Empresas e Novas Colaborações

Energy17 hours ago

Steel Dynamics Reports Third Quarter 2020 Results

Energy18 hours ago

New Placer Dome Gold Corp to Webcast Live at VirtualInvestorConferences.com October 20th

Energy18 hours ago

EnLink Midstream Declares Third Quarter 2020 Distribution

Covid1918 hours ago

U.S. Borders With Canada And Mexico Will Stay Closed Another Month

Energy18 hours ago

Algonquin Completes ESSAL Acquisition

Energy20 hours ago

Global Force Sensors Markets to 2025: Improvement of Medical Devices with Force Sensor Technology will Drive the Market

Energy20 hours ago

Black Mamba Rod Lift and Oil Baron Supply Join Forces, Increasing Run-Times, Preventing Tubing Wear and Cavitation in Progressive Cavity Wells.

Energy20 hours ago

Waterproofing Systems Market by Type, Application, and Region – Global Forecast to 2025

Energy20 hours ago

$824 Million Worldwide Mobile Substation Industry to 2027 – Impact of COVID-19 on the Market

Energy21 hours ago

Georgia Power launches new careers website for students as part of Careers in Energy Week

Cleantech22 hours ago

GM Unveils Factory ZERO

Covid1922 hours ago

UNICEF To Stockpile Over Half A Billion Syringes For Future COVID-19 Vaccine

Cleantech22 hours ago

Volvo Trucks Receives Grants to Deploy VNR Electric Trucks in Southern California

Covid1922 hours ago

South Korea Eases Coronavirus Restrictions, Touts ‘Exceptional’ Success

Crowdfunding22 hours ago

Rnwl: The First Over-the-Top Insurance Platform

Energy23 hours ago

Freeport-McMoRan’s Steve Higgins Elected as Chairman of the Board of the International Copper Association

Energy23 hours ago

Nufarm and CROP.ZONE Announce Cooperation to Bring Alternative Weed Control to Major European Markets

Energy24 hours ago

Global Belt and Chain Drives Market, 2020-2024: Growth Opportunities in Collaboration & Use of Newer Materials Enabling Broader Capabilities

Energy24 hours ago

New Report Shows Critical Impact of Oil and Gas Industry in Los Angeles County

Big Data24 hours ago

Best Apps to Check Internet Speed

France
Esports1 day ago

Python joins Heretics

Energy1 day ago

Ultra Safe Nuclear Technologies Delivers Advanced Nuclear Thermal Propulsion Design To NASA

Trending