Date: 2018 July 16
Road to Financial Success
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Technical analysis can give you a direction of the market, direction of the Cryptocurrency as well as the direction of shares market. At the moment, Road to the financial Success going to give you a Top 5 Cryptocurrency in the market. Those are
Bitcoin (BTC)
Ethereum (ETH)
Ripple (Ripple)
Bitcoin Cash (BCH)
EOS (EOS)
Let's dive into it, one things you should understand, and you should tell to yourself is that the technical analysis is not a Bulletproof, sometimes it might failed signal as well But however, you can get better idea and better direction of market. By Conformation of Technical analysis and Fundamental analysis you can decide if you want to buy or sell this cryptocurrency and shares but before invest don’t never ever forget to put a stop - limit on your investment after you decide how much money are you your willing to lose.
Bitcoin
The king of the Cryptocurrency, still holding a Market cap of $109.32 Billion which is the roughly 43% of Total market cap. Currently Bitcoin is sitting at $6,374 USD and it representing a 1.70% over the 24 hours of time.
Picture: Support and Resistance of Bitcoin in USD
Next support of Bitcoin now, can found on $6,000 USD and $5,700 USD. If this support Broke we will get a signal to Short the Bitcoin and we can expect that the Price of Bitcoin could go to $5,520 USD and Resistant found on $6,800 USD but if the king able to Broke this Price we’ll get the Signal that Bitcoin might go to $8,000 USD.
Ethereum
Smart Contract coin, the most promising Cryptocoin, at the writing of this technical analysis sitting at $449.27 USD, representing a 3.04% gain in the span of day, Ethereum has a great potential to grow, so that it’s better to invest in these coin, if you want to invest for long term. Let’s move forward to technical analysis of this promising coin.
Picture: Support and Resistance Price of Ethereum price in USD Price
Price of $ 400 USD in the strong support for the Ethereum, if it’s broken we can get a signal that the price of Ethereum can go down to the $ 350 USD, furthermore there are a two support can found for at least Short term, those are the $ 500 USD and $ 550 USD if those price are broke we will get the Signal to buy this smart contract coin and we can say that the price can go to $ 630 USD. But if you want for long term don’t look, what i mean if you want to invest your money for at least 5 Years you can Invest.
Ripple
It can said that the favourite coin of the Bank, “ Enterprise blockchain solution for bank-to-bank settlement. Real time settlements, cryptocurrency”. Holding 3rd position in market cap as well as this is popular and promising as well. The price of this coin might increase at 2 times, if something good news come out in market but for now it is in downtrend, however today saw a some improvement on the cryptoworld.
Technical analysis of “Real time Settlements” coin:
Picture: Support and resistance of Ripple
For the ripple, support can found $ 0.42 USD, if its breaks, it give a signal for short with target price will be the $ 0.20 USD it might los 50%, resisten for this coin found at $ 0.52 USD and if XRP go outside this area, it give a signal towards the $ 0.70 USD. At the moment, Road to Financial Success Don’t recommend to buy this coin, because of it is still in downtrend.
Bitcoin Cash
Hard fork coin of the King Coin (Bitcoin), Currently sitting at the $ 721 USD, representing a 2.61% gain within 24 Hours of time. After increase in block size from 8GB to 32GB the price of Coin, wipe out lots. Let's have a look into the Technical Analysis of “Roger Ver coin”.
Picture: Resistant and Support price of Bitcoin Cash in the USD pair
Support is found $ 650 USD if it manage to broke it, it might go towards around $ 437 USD, it is expected that the price of Bitcoin cash might it that direction, it lose the attraction of Investor and Trader. There is two resistant can found one is $ 760 USD and $ 830 USD, if the go towards the uptrend beyond that it can be expect that it will go $ 930 USD.
EOS
Eos io (The most powerful infracture for decentralized applications) according to there website. This is the fifth largest coin of the market with fifth market cap in World of Cryptocurrency before 1 month ago the price of this coin went high around $ 23 USD on multiple exchange website such Binance, bittrex and poloniex. In present, the coin price are sitting $ 7.31 USD representing a 4.64% gain.
Let’s look in the technical analysis of the coin:
Picture: Support and Resistance of EOS in the Pair of USD
The support is found between 6 to 7 USD this is the $ 6.3 USD it it manage to break it will give a signal to $ 5.80 USD. The resistant are found near to $ 10 USD, which is $ 9.8 USD. If it go further it give a signal that it will in next resistant $ 11.50 USD. For long term Investment, this is consider a good coin of the Year.
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Writer
Shiva Prasad Bhandari
Linkedin: https://www.linkedin.com/in/shiva-prasad-bhandari-b1b37b130
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