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Weekly analysis TRON, Monero, Dash, NEM, and Tether

May 05, 2018 Posted /  200 Views

Weekly analysis TRON, Monero, Dash, NEM, and Tether

  • TRON

Within 5 years from now, the coin is predicted to be traded at $1. This is also a precise reason why investing in this particular cryptocurrency is a better option. TRON in spite of regular controversy with Ethereum has managed to launched 2500 nodes in 31 different countries. The coin is set to launch its mainnet on 31st May after which it would leave the Ethereum platform and would have an ecosystem of its own.

Currently, the coin pair TRX/USD  is trading at $0.090556. It is even having a strong support at $0.08118 level. Initially in the past week that showed up bullish trend but later on the bears began to pull the market down.

  • Monero

The cryptocurrency is exchanging supports and resistances of its moving averages. Also recently a new Monero wallet had been launched along with the launch of the dedicated website for it. As we observe the charge we can see the bearish trend dominate.

The 100-day simple moving average is providing the support. Currently, the market is trading in a contracting triangle. The price broke the key resistance area at $250, but trend got reversed due to the selling pressure. Above $250 there is a resistance provided by the 200-day SMA. On the downside, the support is at $230.

  • Dash

Launch in Jan 2014 as Xcoin later got renamed to Darkcoin. later in March 2015 again got rebranded as Dash. It is a decentralized peer to peer cryptocurrency that overcomes many disadvantages of Bitcoin and other cryptocurrencies. It provides anonymity through its coin mixing technique called privateSend in order to track the transaction from beginning to the end. The three features which make the coin important is MasterNodes, PrivateSend, and InstantSend. Since it's launch in 2014, it has managed to add 4,000 nodes to its network.

Currently trading at $425, the cryptocurrency is set to gain stability.

The coin carried a lot of buzz around it due to the reason that it has been running as a non-profit.

  • NEM

Launched on March 31st, 2016, NEM is a peer to peer cryptocurrency. It has a very wide vision of its success for its distribution model by adding a lot more features to the existing blockchain Technology like it's proof of importance algorithm, multisignature accounts, encrypted messaging along with the Eigentrust++ reputation system.

Currently, the XEM/USD is trading at $0.437. The price is following an upward channel trend since the past week. There is a high pressure on the buyers to retain the bullish momentum. The currency is also experiencing a firm support at $0.4239 level. If the bearish market does not dominate the bulls then the price is further predicted to touch the $0.5 mark.

  • Tether

This is one if the Altcoins which has been backed up by the Fiat currencies like EUR A

and USD. According to a data by Omni explorer, on March 20, 2018, it issued 300 million USDT tokens priced at $1 per token. Also in February, it had released  86 million EURO backed tokens, as well as 61.1 million Dollar, backed USDT tokens. Bitfinex is the fifth largest crypto Exchange when it comes to market cap shares leadership with Tether (USDT).

Currently, the coin is trading below the USD at $0.9972. It is also commonly regarded same as the USD due to its closeness towards it.  The price has fallen down when compared to the last week's price at approximately $1.0025.

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Tags: weekly analysis tether weekly analysis NEM weekly analysis Dash weekly analysis Monero weekly analysis TRON

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