Chinese Crypto Rankings – Shelley Needs Stable and Robust FoundationsOctober 28, 2019
Ethereum has been making it’s way higher. The price of the ETH is positive, near the $175 and the $180 levels versus the USD. It is expected for the ETH/USD pair to climb higher, breaking near the $190 and $192 resistance levels in the short-term. The major support level for ETH/USD is $180, and the major resistance level is at $190. The RSI for ETH/USD is correcting lower, and it is touching the 50 levels. The MACH for the pair is losing momentum in the Bullish zone.
Bitcoin climbed past $10,000, it corrected lower, and it is trying to work past the $10,000 resistance area. Bitcoin is currently leading the momentum, and the major cryptocurrencies are trading below their price averages. The BTC broke out, and it caught the investors off-guard with its wild ride.
Libra from Facebook is running into a lot of problems. The major partners to the token have abandoned the association. Libra stumbling down has influenced the market sentiments, but the wild ride of the Bitcoin back to the uptrend has had investor interest pour back into the market.
Ripple is below the resistance area versus the USD. It is rising slowly. A key bullish trend line is forming for the XRP near $0.2950 on the XRP/USD chart. Several Altcoins like TRX, ONT, NEO, and VET are up by more than 20% over the past sessions since the Bitcoin upsurge. The RSI for Ripple might test the 50 levels as it corrects lower. The MACD is moving back in the bearish zone. Major support levels are seen at 0.29, and significant resistance levels are seen at $0.30.
Cardano’s Shelley has a complex PoS protocol, and it will require some serious testing. The project has been subject to harsh criticism due to its slow development. ADA holders will be able to earn real rewards by joining the incentivized testnet. The project, however, requires “stable and robust foundations.” Any user who holds or transfers their ADA to one of the many approved wallets will be able to participate in the testnet process.
Patel clarified, “Stake pool operators should be comfortable with command-line interfaces and have some system operation and server administration skills.”
TRON is serious about improving its plug of partnerships. On the list of Chinese Crypto, Rankings EOS is on the top, but the Ethereum has dropped. The parameters for the rankings were technology, application, and creativity. However, there is not a clear explanation of what further requisites apply for the features. Either way, homegrown projects are excelling in Chinese crypto rankings.