If Privacy Issues of Cryptocurrencies are Solved almost all Problems are Solved

Maheen Hernandez By Maheen Hernandez October 20, 2019 Off
Cryptocurrencies

Ethereum is currently held in a falling wedge, according to a famous analyst.  The price of the Ethereum might go down to as low as $140 in the near term before it can break the upper boundary to surge higher. Ethereum is currently held in a technical formation.  The token now does not have strong fundamentals.  The ETH is lethargic in its recovery.

Its resistance area determines the scope of a particular cryptocurrency.  There will be rapid price increases when the resistance area is broken.  ETH accumulates between the resistance area and the current price.

ETH will break out after going down to $150, eventually creating an ascending support time followed by a break out initiating a rapid rise in the price trends.

The weekend session showed that the cryptocurrencies continue to be depressed.  The overall cryptocurrency market lost $9 billion in less than a week, and the bears largely continued to be under control.  The price of the Bitcoin went down below $8,000 on Friday after it was not able to correct above $8,100.  The downtrend explored levels towards $7,800.

The price of the Ripple is working for the third straight week in the green.  The resistance level at $0.2850 will be taken over by the bulls.  There is a barrier at $0.3000, capped the greater upside.

When it comes to minimizing unexpected outcomes, a successful risk management plan is of paramount importance. Temptation, in many cases, leads to poor choices. With a proper plan, one would be able to profit more without putting a lot on the table.

Litecoin has caught up with support and ended the day at $53.31.  The first primary support level was seen at $52.59, and it fell short of primary resistance levels. Significant support and resistance levels to Litecoin were left untested.

In terms of trading volume, TRON has surpassed the Ethereum.  It has outperformed its significant rival, Ethereum.  Tron has announced it’s yet another major milestone. Justin Sun stated that “Tron’s trading volume on dApps touched 68,504,852 USDT, and this number works out to be more than Ethereum by almost twice.”

The DApp ecosystem would become stronger with more number of people joining the platform as developers and users. Tron is behind Ethereum when considered in terms of the total numbers of unique users and the main net accounts.

Despite a promising start, several cryptocurrencies are beginning to struggle. With almost all cryptocurrencies, there is no big issue to deal with if the privacy issues are solved.

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