Top 5 Crypto Performers Overview: Tezos, Cardano, EOS, Binance Coin, Neo

The crypto community will have to wait until the second half of May for the fate of the Bitcoin ETF applications from VanEck and Bitwise, because the US SEC has once again delayed its decision. Very few people expect the Bitcoin ETF to see the light of day in 2019. Hence, even if it is not approved, the impact on crypto prices is likely to be limited. If the ETF is approved, this will be a pleasant surprise and significantly increase crypto prices.

Bitcoin is not currently managing the recovery: it is the altcoins that drag Bitcoin prices higher. Based on option data, traders only give Bitcoin a 5 percent chance of reaching $ 10,000 by September this year. We believe that if the bulls manage to break out of $ 4,255, the markets will start to praise with a greater chance of reaching higher levels this year. Although we expect a number of sharp rallies during the year, we do not expect them to be comparable to 2017.

Argentine vice president of finance, Felix Martin Soto, said that promoting crypto will reduce the demand for US dollars in the Latin American nation and stabilize local markets. Countries are increasingly warming to the enormous potential of cryptocurrencies and blockchain technology. This will attract more investors to the investment category because they see the transformation that technology can bring to their economies. Although it is slow to catch up, the price will eventually follow the basics and altcoins have risen enormously in recent weeks. Let's look at the best performers of the past seven days.

XTZ / USDT

Tezos (XTZ) has been one of the strongest altcoins in recent days, as the prize was supported by some fundamental events that brought cheers to investors. The community has completed the vote on the protocol proposal that will determine the upgrade of Tezos, and the proposal now goes to a voting period for exploration (or "period with test period"). The markets also welcomed the additional subsidy received by Cryptium laboratories for the development of baking and consensus improvements for the Tezos core protocol.

Coinbase Custody offers strike services with Tezos (XTZ) to attract institutional players, where investors can achieve an annual return of around 6.6 percent and the assets of a customer are kept in a cold storage room at all times, leaving the process risk-free. 39; s expires. The Tezos foundation has indicated that PwC Switzerland has completed the statutory audit of 2017 and that the same has been submitted to the Swiss federal supervisory authority for foundations. PwC also performs the audit for 2018.

With these positive fundamental developments can the rally continue or will it become a roadblock? Let's figure it out.

The XTZ / USDT pair traded in a tight range of about 16 weeks before taking the upper hand. Last week, although the outbreak of the $ 0.33- $ 0.654310 range could not be sustained, the pair followed it with a new promotion this week. This shows a likely change in trend. In this switch, the digital currency has broken out from the 20-week EMA and can now gather for the 50-week SMA for $ 1.73. There is a small resistance at $ 1,295480, but we expect it to be exceeded.

Contrary to our assumption, if the bulls fail to scale $ 1.294580, the digital currency can consolidate for a few more weeks. The recovery will lose steam if the price again falls below $ 0.654310.

ADA / USD

The official arm of Cardano (ADA) has announced that the popular Ledger Nano S now supports the cryptocurrency, with which users can keep their assets safe. Also 19 Ethiopian and four Ugandan students have graduated from the IOHK Haskell course: these software developers will use blockchain technology to solve various problems in the Ethiopian agricultural industry. Charles Hoskinson, founder of IOHK, expects information to move between different systems in about three to five years, noting that the crypto industry is still waiting for the "WiFi or Bluetooth moment".

ADA / USD

The ADA / USD pair has extended its recovery for another strong week: it is now approaching the overhead resistance zone from $ 0.082952 to $ 0.094256. If the bulls upscale this zone and the 50-week SMA that is just above it, a rally of up to $ 0.20 in the medium term is possible. In the short term, however, we expect that $ 0.082952 to $ 0.094256 will be a strong hurdle. A few weeks of consolidation in the vicinity of this zone cannot be excluded.

On the other hand, the pullback is likely to be found on the 20-week EMA and below that at $ 0.051468. If the bulls fail to defend this support, the pair will weaken again.

Traders who have purchased 50 percent of their desired allocation on our previous recommendation can continue to wait up to $ 0.0350. We will look at the price promotion for another week and then propose that the stops end up higher.

EOS / USD

EOS continues to hold the first position in the Chinese government-sponsored rankings of major cryptocurrencies, and Weiss Crypto Ratings gave EOS a ranking of "A" for its challenge to Ethereum. From January, 48 percent of the DApps users were on EOS, much higher than the 28 percent on the Ethereum network. In another hack at the Bithumb plant, more than 3 million EOS were taken out of the hot wallet of the exchange. Let's see how the price responds to this news.

EOS / USD

After about four weeks of consolidation, the EOS / USD pair has resumed recovery. It will now try again to break the overhead resistance at $ 4.4930. If successful, it can collect up to $ 6,88299. The SMA of 50 weeks is just below this level; that is why we expect $ 6,899 to act as a major roadblock. But during the next pullback, if the pair manages to stay above $ 4,449, it will show strength and confirm that the markets have rejected the lower levels.

After an outbreak of more than $ 6,88299, we expect the virtual currency to gain momentum. Both moving averages are flattened and the RSI has risen to the center: this shows that sales pressure has decreased and a new upward trend is likely. Our bullish rendering will become invalid if the price does not exceed $ 4.4930 and falls below $ 3.8723.

BNB / USD

Binance has announced a new lottery format for the next token sale on Binance Launchpad. This is a change from the & # 39; principle of first come, first served & # 39; that was used for the earlier successful token launches. Binance also works with Risk Management and compliance company IdentityMind to improve data protection and compliance for Binance's global operations. The week also reported that many crypto exchanges reported fake volumes. Binance's CEO, Changpeng Zhao, welcomed these reports because it will help make the sector more transparent.

BNB / USD

The BNB / USD pair leads the altcoin recovery from the front. After the recent recovery, it is only about 35 percent of the lifetime highs hit in January 2018. This shows that selected cryptocurrencies have emerged from their bear markets and are on track to challenge the lifetime highs.

The pair is currently facing profit gains at the highest resistance of $ 18. We expect a few more weeks of consolidation, or a small correction, before the bulls try to break out of $ 18 again and make a new life high. On the other hand, the digital currency will find support at $ 14 and lower in the 20-week EMA. The moving averages complete a bullish crossover, indicating that the trend has changed.

Our bullish display will become invalid if the digital currency breaks down and is below the 50 percent retracement of the recent rally.

NEO / USD

NEO prices received a boost when Nash.io, a decentralized stock exchange built on top of NEO, announced it had completed the protocol file for Bitcoin trading. In another news, Binance has added additional stable ecoin links for NEO that could increase the volume for the cryptocurrency.

NEO / USD

The NEO / USD pair has reached the peak of the $ 5,48080- $ 10.00 range and is currently facing resistance on the 20-week EMA. The rise from the lowest point to the current level has been gradual, showing an accumulation by the bulls. If it breaks out of the 20-week EMA, the momentum and rally can rise to $ 17 and above to the 50-week SMA for $ 24.

On the other hand, if the price drops again from the current levels, it can extend its stay in the range for a few more weeks.

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