The Asian holiday weekend is upon us and markets are looking good. Most digital assets are in the green and Bitcoin is holding steady at over $10k again. Altcoins are once again being pulled up by their big brother and, as expected, one is standing out from the crowd.
According to Coinmarketcap NEO is the only altcoin trading in double digit gains during this morning’s Asian session. Up to $140 from $121 this time yesterday, Neo is having a solid run and is 13% higher. All other cryptocurrencies are marginally up on yesterday’s levels. Neo has been one of the few altcoins that has shown a lot of resilience during the big dip on February 6. It dropped to a low of $67 and has since made gains of over 100% over the past ten days. Neo’s all-time high came in mid-January when it reached $195.
Neo
Often referred to as the Chinese Ethereum, Neo has made steady progress over the past three months. It does not have the wild fluctuations that other altcoins experience and is one of the more stable cryptocurrencies. Neo is a platform, similar to Ethereum, which enables developers to build decentralized applications on. It is being used for a number of ICOs and new projects in the region.
The community is very active and developer conferences are held often across the world. The launch of a new decentralized NEO and GAS powered exchange called Neon is likely to boost prices further however the project is still in pre-ICO stage. As with most cryptos, Neo is traded predominantly in South Korea which has over 30% of the global volume. Market capacity currently sits at $8.9 billion and Neo is ranked at number 7. Over $264 million has been traded in the past 24 hours.
Other altcoins enjoying solid gains during the Asian session are Monero, Litecoin, OmiseGO and Verge.
More on Neo can be found here: https://neo.org/
Cardano
Key Highlights
ADA price struggled to gain momentum above the $0.40 level and moved down against the US Dollar (tethered).
There was a break below a major ascending channel with support at $0.3800 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
The pair has to stay above the $0.3700 support to avoid further declines in the near term.
Cardano price is slightly bearish against the US Dollar and Bitcoin. ADA/USD may decline a few points, but it may later bounce back to retest the $0.40 resistance.
Cardano Price Resistance
There was a steady price action in ADA price recently above the $0.3500 level against the US Dollar. The price even traded above the $0.4000 resistance, but it was not able to gain upside momentum. A high was formed at $0.4044 from where the price started a downside correction. It moved below the 23.6% Fib retracement level of the last wave from the $0.3420 low to $0.4044 high.
More importantly, there was a break below a major ascending channel with support at $0.3800 on the hourly chart of the ADA/USD pair. The pair is now trading below the $0.3900 level. However, the downside move was protected by the 50% Fib retracement level of the last wave from the $0.3420 low to $0.4044 high. The pair is currently holding the $0.3700 support and it must stay above the mentioned levels. If it fails to stay above the $0.3700 level, it could even test the 76.4% Fib retracement level of the last wave from the $0.3420 low to $0.4044 high at $0.3553.
Cardano Price Technical Analysis ADA USD
On the upside, the price may continue to struggle near $0.4000. A successful break above the $0.4000 level could ignite more gains toward $0.5000 in the near term.
Hourly MACD – The MACD for ADA/USD is currently in the bearish zone.
Hourly RSI – The RSI for ADA/USD is moving lower and is currently below the 50 level.
Major Support Level – $0.3700
Major Resistance Level – $0.4000
Ripple
Key Highlights
Ripple price traded as high as $1.1024 before starting a downside correction against the US dollar.
Yesterday’s highlighted ascending channel with current support at $1.0080 is intact on the hourly chart of the XRP/USD pair (data source from SimpleFx).
The pair may extend the current decline, but it is likely to find support near $1.0000 and $1.0080.
Ripple price is currently correcting lower against the US Dollar and Bitcoin. XRP/USD remains well supported on the downside above the $1.00 handle.
Ripple Price Support
Recently, we saw a nice upside move in Ripple price above the $1.00 level against the US Dollar. The price traded above the $1.10 level and formed a high at $1.1024. Later, a downside wave was initiated and the price moved below the 23.6% Fib retracement level of the last wave from the $0.9136 low to $1.1024 high. However, there are many supports on the downside such as $1.0000 and $1.0080.
More importantly, yesterday’s highlighted ascending channel with current support at $1.0080 is intact on the hourly chart of the XRP/USD pair. The pair extend the current correction pattern, but the channel support and $1.00 are major buy zones. Furthermore, the channel support is near the 50% Fib retracement level of the last wave from the $0.9136 low to $1.1024 high. The last but not the least, the 100 hourly simple moving average is also positioned around the channel support and $1.00 to prevent declines.
Ripple Price Technical Analysis XRP USD
Therefore, the $1.00 handle is a major buy zone. A break below $1.00 could push the price back in the bearish zone. On the upside, an initial resistance is at $1.10. Above $1.10, the price has to surpass $1.15 for more gains.
Looking at the technical indicators:
Hourly MACD – The MACD for XRP/USD is currently reducing its bullish slope.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is struggling to stay above the 50 level.
Major Support Level – $1.0000
Major Resistance Level – $1.1100
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Unhealthy ? Depends whose health we are concerned about.
As above, most of these ETH Token sales offer little more than the right to re-sell your token. Similarly to how ICO's were public and now going private, the whole "buy solely so you can re-sell something with no intrinsic value" will likely seem less awesome later in 2018 - 2019.
Do we raise via Private or Public ? Have been asking myself the same question. Private can be quick and more certain, but only makes the wealthy wealthier.
I am still inclined to try to incorporate doing the hard yards and making opportunities available to individuals at home in their spare time, but this could take a lot more work for a lot less return.
Our Coin/Token will definitely NOT be offering only the right to re-sell the Coin. This could be attractive to a LOT of individuals to not need to go private, but maybe not. So will be going hard on a separate revenue generating project toward reducing the need to rely solely on ICO funds and/or be able to expense more on reaching the desired target audience instead of just whoever is willing to pay.
Does it matter who buys your Coin/Token or what they do with it? It does to us but should it?
This year, do not explain the transfer, SSH is encrypted, there are people trying to break the brute force. Public online VPS, while 22 ports are open, a lot of scans and an attempt to log into the system will be conducted every day. I had to look for fail2ban.