Crypto markets analysis 15/03/2018

Durring the past 7 days we have see a hard correction in the crypto markets, the price of bitcoin made correction and fall from 10500 USD to 8030 USD across global exchange service .

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Today’s correction isn’t exclusive to bitcoin. All major cryptocurrencies including Ethereum, Bitcoin Cash, Ripple, Cardano, and Litecoin have declined in value, at a similar rate as bitcoin. Ethereum recorded a daily loss of 10 percent, while Ripple and Bitcoin Cash both decreased by just over 9 percent.

crypto markets

Crypto markets from coinmarketcap 

This Crash in the crypto marketsb is caused by serval things, between them :

1-The negative comments of US representatives followed a report released by $81 billion investment firm Allianz, which claimed that bitcoin has no intrinsic value .

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2-The negative effect of the sell off of bitcoin By Mt.Gox Ceo, that has sold over 40000 Bitcoins durrign the past 24 hours .

3-the last scams in th crypto industry like bitconnect and Davorcoin that show the negative aspect of the crypto world due to the lack of the understand of the blockchain technology and the absence of regulation .

But i am very bullish for the future of crypto currency and bitcoin, why ? :

1- Bitcoin is listed and adopted by serval instissiaonal investments firms each days  between them : USA was the fist country to list bitcoin on stock marekt on :  CBOE and CME .

2- the innovative developments being pursued within the cryptocurrency industry, especially the increasing adoption of cryptocurrencies in regions like Japan and South Korea and a lot of others reasons .

 

Bitcoin :

 

 

After that bitcoin has reach during the past 24 hours 7849 USD, now this digital assets is traded around 8200 USD, if bitcoin break the resistance level of 8500, it will return to be traded from 9000 USD to 9500 USD, bit of bitcoin fall below 7500 USD, then we could see a more hard correction from 6000 USD to 6500 USD.

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But i am very bullish, because there is some positive news that has come today, and also the trading volume has increase during the past 24 hours , for me i have buy around 8100 USD, i will sell around 10500 USD .

chart

Bitcoin Chart from coinmarketcap 

 

Ethereum : 

After reaching all time high price before 2 month, Ethereum is now traded around 600 USD, this levels are a good entry point, i advice you to buy from 600 USD to 670 USD, take profit from 800 USD to 900 USD .

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Use a stop lose around 550 USD, because if the price fall below 550 USD, we can see ethereum making a hard correction around 450 USD .

chart (1)

Ethereum Chart from coinmarketcap 

 

Litecoin : 

Litecoin is now traded around 163 USD, after reaching an all time high price around 223 . This levels are a good entry point on a long term trade on ltc, the targets profits are from 200 USD to 230 USD, if Ltc fall below 150 USD then sell directly, because the price can go back under 100 USD.

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chart (2)

Litecoin Chart from coinmarketcap 

 

Bitcoin cash : 

BCH is at a good entry level right now for a long term trade, buy around 900 USD to 1300 USD, take profit from 1800 USD to 2100 USD .

chart (4)

Bitcoin Cash Chart from coinmarketcap 

 

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Ripple : 

After reaching i’s all time high price around 3 USD, Ripple is now traded around 0.67, this is  agood entry point for a long term trade, the profits target are from 0.97 USD to 1 USD .

chart (5)

Ripple Chart from coinmarketcap 

 

Monero : 

Technical :

Monero is an amazing privacy coin that I personally like, and would love to invest in the near future…however…It is dangerously close to breaking below its uptrend channel . I would watch this closely if you hold it. If you’re looking to buy it in near future .

A nice entry could be coming. SO we watch and wait on this one i advice you to buy right nwo around 200 USD to 230 USD, the long term target is from 300 USD to 360 USD .

Fundamental :

There is the hardfork of Monero on 30/04/2018 .

chart (6)

Monero Chart from coinmarketcap 

Zcash : 

Technical :

I don’t see any opportunity in trading Zcash for midle or short term, but for the long term Zcash is at a good entry pint right now from 230 USD to 250 USD, take profit from 300 USD to 350 USD .

Fundamental :

There is an upgrade on the Zcash network on 30/06/2018 .

 

chart (8)ZCASH Chart from coinmarketcap 

 

Dash : 

 

After reaching it’s all time high price around 1400 USD, Dash is now traded around 400 USD this levels is a good entry point fo a long term trade on dash .

chart (9)

Dash  Chart from coinmarketcap 

 

Ethereum Classic : 

Fundamental :

First public release of Emerald Desktop Wallet & Warp sync in Geth in 31/03/2018, and also teh release of Beta of Emerald Mobile Wallet & Disable difficulty bomb on 30/04/2018 .

chart (10)

Ethereum Classic   Chart from coinmarketcap 

Cardano ( ADA ) : 

Technical :

ADA is at a good entry point for a long term trade from 0.17 USD to 0.18 USD, take profit from 0.6 USD .

Fundamental :

There is an update on the ADA roadmap on 05/04/2018 .

chart (12)

Cardano   Chart from coinmarketcap 

Tron : 

Fundamental :

There is a coinburn of tron on 31/03/2018

Technical :

The levels from 0.027 USD to 0.03 USD are a good entry point for a long term trade on Tron, the targets profits are from 0.05 USD to 0.06 USD . the born fo the coin will reduce the supply, what means that the price will increase .

 

 

 

chart (13)

Tron   Chart from coinmarketcap 

 

Omise go : 

I don’t see any trading opportunity in Omise go for short and midle term, but this levels of 11 USD to 13 USD, are good entry point for a long term trade , the targets profits are from 15 USD to 18 USD .

chart (14)

Omisego   Chart from coinmarketcap 

 

Neo : 

NEO is a good investment  in my opinion, for some  reasons. The Chinese are a proud country and they like to invest in their own projects; particularly when it comes to technology and innovation. It’s astonishing when you realize how many people are in China, and how many individuals, businesses and government branches will use this blockchain for the « NEW ECONOMY ». This to me is similar to the Emerging Market ETF’s that are available today which invest in companies particularly in Asia and Japan.

This levels from 65 USD to 75 USD are good entry point for a long term trade on Neo .

 

 

chart (15)NEO Chart from coinmarketcap 

 

Qtum : 

Qtum is right now at a good entry point from 15 USD to 20 USD, the targets profits are from 50 USD to 60 USD.

chart (18)

Qtum Chart from coinmarketcap 

 

 

Stratis : 

Fundamental :

The First Stratis Verified ICO  (GLUON) token sale starts Mar 27

Stratis is working on providing a smart contracts solution that will cater for .NET developers. 31st march

Sidechains Alpha Release 31st march

Stratis Identity iOS App 31st march

Technical : 

Buy from 4.5 USD to 5.5 USD , take profit from 10 USD .

chart (17)

 

Stratis    Chart from coinmarketcap 

 

Read also :

Crypto market analysis 13-03-2018

 

 

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