Monero’s XMR Breaks Through $300 Despite its Mining Controversy

Monero’s XMR has been seeing massive gains recently. This is despite a piece of malware that has been concerning the cryptocurrency crowd. XMR tested the $300 resistance level on Thursday after seeing its second consecutive bullish market sentiment.

What is Monero’s XMR?

Monero is an open-source cryptocurrency created in April 2014. It focuses on privacy and decentralization. It runs on Windows, macOS, Linux, Android, and FreeBSD.

Monero’s token, XMR, has enjoyed a steady increase in adoption since its release. Dark web marketplaces including AlphaBay and Oasis have embraced the cryptocurrency, reportedly due to popular demand.

Monero’s Malware Controversy

Monero hit the headlines recently thanks to a piece of malware mining it in secret on Android devices. The malware redirects users to websites that tap into a device’s processing power to mine the Monero cryptocurrency.

For example, U.S. online news publication, Salon has adopted this unconventional alternative to ads to make money. They are using a reader’s computing power to mine Monero.

The way they do is by giving readers that don’t want ads to appear on content an option to “suppress ads.” This allows Salon to use a reader’s unused computing power to mine virtual currency.

XMR Price Action

XMR saw similar types of patterns in terms of gains and pullbacks as other major cryptos in the past month. XMR/USD has pierced through the 50% Fibonacci retracement level of $273. It is testing the $300 level at the time of writing.

The pair remains below the daily Ichimoku cloud. However, the Tenkan line appears to be crossing above the Kiju line, signaling the medium-term bullish momentum to continue.


On the other hand, the future cloud remains bearish.

Monero is the 13th largest cryptocurrency by market cap. At $4,720,573,463 it trails behind Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Cardano, Stellar, NEO, EOS, IOTA, Dash, and NEM.

Monero’s market operates like that of many other cryptocurrencies. Those interested in investing in the cryptocurrency can purchase it outright through exchanges including Binance, Bitfinex, and Kraken.

According to their website, with Monero, you are “your own bank. Only you control and are responsible for your funds. Your accounts and transactions are kept private from prying eyes.”

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After correcting the final streak of losses earlier this week, Ethereum consolidates between key pivot levels for the third day in a row.

This comes as Ethereum’s rival, Dfinity, raises $61 million for its product. What could be next for Ethereum? Here’s a quick overview.

Ethereum Consolidates Below Daily Ichimoku Cloud

After reaching the all-time-high level at around $1,400 in mid-January, ETH/USD gradually made its way back down to the December support level of $678. This level also falls on the 61% Fibonacci retracement. It is currently consolidating between $678 and the 50% Fibonacci level of $823. The hard resistance is the daily Ichimoku cloud.

These are the exact same levels where Ethereum consolidated for two weeks back in December when it was making its way up to the all-time-highs.

Ethereum Consolidates-Below-Daily-Ichimoku-Cloud

How long will it take for Ethereum to fully recover?

After last week’s bloodbath, it could take Ethereum a while to regain its bullish momentum. These types of consolidating behavior aren’t that surprising. If the $678 support level holds, we could expect a gradual recovery towards the upper band of the Ichimoku cloud in the next few weeks.

However, there is still a risk of further drops towards the next support level of $478 at 78% Fibonacci.

Ethereum Rival Raises $61 Million

The consolidation comes as a new Ethereum rival, Dfinity, raised $61 million.

DFINITY is a non-profit foundation developing a blockchain-based “internet computer,” and are hoping to share it with the world. The product could have unlimited capacity and unmatched performance. Dfinity explained that the internet computer would allow decentralized versions of tech services such as eBay, Uber or Dropbox.

In other news…

Ethereum’s co-founder Vitalik Buterin donated $2.4 million in Ether to an Anti-aging research foundation.

Vitalik is the one who threatened to leave Ethereum right before the New Year, saying he’s fed up with the immaturity of the digital currency crowd. Now he’s staying true to his word by attempting to make a difference through his cryptocurrency fortune. It is now up to the market participants to take the news and decide on their next moves when it comes to Ethereum.

Litecoin was not immune from the cryptocurrency bloodbath this week. It dropped 50% from its all-time high and confirmed below the daily Ichimoku cloud. Here is a quick overview.

LTC/USD Price Action

After reaching the all-time high level of $420 in mid-December, LTC/USD started a brand new downtrend. It has been mainly supported by the 76% Fibonacci retracement level of $163, as it tested it once in December and twice in the past week.


It has also confirmed below the daily Ichimoku cloud, with the Tenkan line, Kijun line, and the future cloud in a bearish momentum. The Chiko span has yet to cross below the cloud though.

Unlike many of its major cryptocurrency counterparts, Litecoin has mainly been consolidating after the sharp plunge. It has formed a series of Doji candlestick patterns in the past few days, with no clear indication of its next direction.

How Are the Other Cryptos Doing?

Besides Ripple’s XRP which has shifted into a bullish momentum after the plunge, many other cryptocurrencies including Ethereum and Bitcoin are also in a consolidation mode.

Litecoin and Bitcoin are practically correlated because their use cases are very similar. If you consider Bitcoin as an asset like gold, Litecoin would be Silver.

Litecoin was created by former Coinbase engineer Charlie Lee in 2011 as a quicker alternative to Bitcoin.

What Was the Crash All About?

This week’s crash came after a global tide of regulation against the inchoate cryptocurrency industry. On one hand, these regulations may be scaring bitcoin investors into selling their coins now before the full impact of regulation makes itself felt. On the other, it may also be threatening suspect exchanges such as BitConnect, with its own token declining in value by 46 percent between December 17th and January 15th — the day before it announced its closure.

In the United States, regulation has reared its head in the form of the SEC.

But you can’t blame this all on the fundamentals. From a technical point of view, these drops were also noted as an inevitable flow of market sentiment. And the fact that the prices fell exactly to the key support levels, further strengthens our pullback theory.

Any Good News in the Cryptocurrency World?

Yes. First off, Japan’s biggest bank, Mitsubishi UFJ Financial Group Inc. is hopping on the cryptocurrency train. It is planning to release its own cryptocurrency coin by March 2018.

In the US, the housing industry is starting to dip its toes into the Bitcoin water. One Miami condo seller is only accepting Bitcoin offers, while online real estate brokers say several other listings are willing to accept bitcoin as a payment option.

These are certainly good news for cryptocurrency bulls. However, there is no doubt that the crypto market can still be very easily manipulated by bots and big players due to lack of regulation.


While all eyes are on major cryptocurrencies and those on the top 10 largest market cap list, let’s take a moment to introduce some lesser known altcoins and new ICOs. Today’s we’ll be looking at Zcash and KodakCoin.

Zcash (ZEC) Overview

Zcash is a decentralized and open-source cryptocurrency. Zcash coin code is ZEC. Standing at the 23rd position in terms of cryptocurrency market cap, Zcash aims to differentiate itself from others by focusing a great deal on privacy.

According to their website, Zcash is based on peer-reviewed cryptographic research and built by a security-specialized engineering team on an open source platform based on Bitcoin Core’s battle-tested codebase.

What’s Unique About Zcash?

Zcash enables users to send public payments which work similarly to Bitcoin. With the support for both shielded and transparent addresses, users can choose to send Zcash privately or publicly. Zcash payments sent from a shielded address to a transparent address reveal the received balance, while payments from a transparent address to a shielded address protect the receiving value.

While this feature could be appealing to criminals, Zcash believes companies need the protection of privacy along with their supply chain in order to conduct their business, especially in the context of public blockchains. In addition, they believe that personal privacy is necessary for core human values like dignity, intimacy, and morality.

ZEC Price Action

Unlike many of its crypto peers, Zcash ZEC actually started its journey high, at $30,000 in October 2016. It then dropped sharply to as low as $30 within two months. In mid-2017 it started to gain momentum, now fluctuating between $800 and $500.


It is currently supported by the 23% Fibonacci retracement level on the daily chart, while trading above the Ichimoku cloud.


KodakCoin Pre-Selling Ahead Of ICO

The other altcoin we’d like to look into today is KodakCoin. A new cryptocurrency from that photo company you haven’t heard of since you used a disposable camera.

It is actually a Vancouver-based company called Global Blockchain Technologies Corp. which is licensed by Kodak to use its name for this new cryptocurrency.  They have already begun pre-selling the cryptocurrency ahead of a public initial coin offering (ICO), sinking $2m into Kodak Coin. They have reportedly subscribed to all 8m Kodak Coins available in the pre-ICO first stage. The ICO date is not specified yet.

How Will KodakCoin Work?

The KodakOne platform will use the blockchain technology to enable photographers and agencies to register their work, sell rights to images and receive payment using KodakCoin. Participating photographers will receive payment for licensing their work immediately upon sale. Both professional and amateur photographer can sell their work confidently on a secure platform.

Final Thoughts

By now, you must know that cryptocurrencies have proven to be largely unpredictable in terms of price action. Therefore, looking into altcoins and diversifying as much as possible could be one way to manage your risk.

We have two rising stars in the cryptocurrency field. Cardano (ADA) and Stellar (XLM) are now both in the top 10 largets cryptocurrencies by market cap. Let’s take a look at both and do a quick comparison.

What is Cardano Blockchain?

Cardano is now the fifth largest crypto by market cap. It is a third generation cryptocurrency and the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.

Cardano blockchain development team consists of a large global collective of expert engineers and researchers.

Cardano’s Multiple Layers

Unlike Bitcoin, Cardano has two layers.

The first one is the Cardano Settlement Layer(CSL).  CSL works as a more efficient bitcoin, handling the balance ledger and basic transaction side of things.

The second layer is the Cardano Computation Layer. This is where decentralized apps and smart contracts built on Cardano will be based and can operate separately on the CSL layer.

These multiple layers mean that you can make changes to the platform without a fork.

Cardano’s Token, ADA Price Action

Cardano’s token, Ada, reached new highs above $1.20 this week. The reason for the surge could be the anticipation of the next major update for the platform being due for release next week.



What is the Stellar Blockchain?

Stellar aims to be a one-stop shop in the financial world, where with just one integration into the Stellar Network, everyone including, payment networks, banks and market participants have equal economic access economic. Stellar operates a network with the blockchain technology behind bitcoin. But unlike Bitcoin, Stellar’s transactions settle in 2 to 5 seconds and allow users to quickly exchange government-backed currencies, such as turning U.S. dollars into euros.

What Are Stellar Lumens XLM?

Stellar coins are officially called lumens or XLM for short when traded in the crypto exchanges. 

Lumens are technically the native asset of the Stellar network.

Native means that lumens are built into the network. Asset is how the network refers to an item of value that is stored on the ledger.

Stellar Lumens (XLM) Price Action

The native asset of Stellar, Lumens (XLM) reached for new highs at the end of 2017 and by Wednesday was up 65%. However, on Thursday it pulled back towards the 23% Fibonacci retracement level. It started Friday with a Doji candlestick pattern.


The young token remains above the Ichimoku cloud.

Both blockchains are gaining popularity with the market players. The hot debates are whether these can be the next Ethereum or the next Ripple.


Invest Responsibly,


Most major cryptocurrencies including Bitcoin, Ethereum, and Litecoin had a Christmas gift for those investors who had set up a buy limit order at lower prices last week. What can we expect from the cryptocurrency market in the new year? Here is a quick look

Cryptocurrency Overview

In a massive but temporary pullback, most cryptocurrencies saw a sharp decline to key support levels on the 21st.

Bitcoin Price Action

Bitcoin reached the 61% Fibonacci retracement level around $11,200. On Tuesday’s trading session, Bitcoin price formed a bullish engulfing chart-pattern reaching for the 23% Fibonacci retracement level of $16,427.

On the 4-hour chart, BTC/USD has broken below the Ichimoku cloud. The Kijun line has also crossed below the Tenkan line. The future cloud appears to be bearish.

BTCUSD 4 hour chart Technical Analysis 2018
BTCUSD 4 hour chart Technical Analysis 2018

Ethereum Price Action

Ethereum, the second largest cryptocurrency by market cap after Bitcoin, has been hanging around the pivot level of $718 after the temporary pullback towards $472 last week.

ETHUSD Daily Chart Price Action 2018
ETHUSD Daily Chart Price Action 2018

 Ethereum Founder Threatens to Leave While ETH Consolidates Before New Year

Ethereum’s founder is apparently fed up with the immaturity of the cryptocurrency community.

The 23-year-old Vitalik Buterin took to Twitter on Wednesday and threatened that he would leave if the crypto communities don’t get their act together.

He said people should “ differentiate between getting hundreds of billions of dollars of digital paper wealth sloshing around and actually achieving something meaningful for society.”

He believes people are focusing on posting meme about luxury cars and inappropriate jokes, which is not what the direction he envisions for the cryptocurrency world.

Ethereum has actually paved the way for hundreds of initial coin offerings. Now the total cryptocurrency market cap is around $0.5 Trillion. But Vitalik believes we have not quite earned this price explosion. Perhaps this could lead the way for a better crypto community in the new year.

What Do Cryptocurrency Bulls say?

Bitcoin and other cryptocurrency bulls continue to argue that it is another asset class called digital assets, like precious metals, stocks, real estate or bonds.

What Do Cryptocurrency Bears say?

Meanwhile, the bears remain concerned about the difficulties in regulation surrounding cryptocurrencies, believing that their lack of regulation will lead to their downfall.

What’s Next?

By now we have already experienced at least one massive pullback. But this doesn’t mean that we won’t see new all-time highs across the board in 2018. We also could see yet another pullback, whichever comes first.

Bitcoin could see drops to as low as $6,000 and gains to as high as $50,000.

Ethereum could see a pullback towards $359 and gains towards $1,700 in the new year.

This for sure makes investing in cryptocurrencies both exciting and high risk at the same time. With that, I’d like to wish you a happy new year, invest responsibly, and I’ll see you with more updates in 2018.



Just as we were talking about how Ripple is less volatile than its other cryptocurrency counterparts, Ripple’s XRP caught everyone by surprise and concurred new highs on Thursday.

Meanwhile, most other cryptocurrencies saw a bearish sentiment. So What’s going on? Let’s take a look.

Asians are Going After Ripple

Apparently,  61 banks in Japan are planning to launch a new digital payments systems pilot program using the Ripple blockchain network. This is organized by SBI Ripple Asia in Tokyo. They will work with Woori Bank and Shinhan Bank of South Korea.

This is a big deal because  Asia accounts for at least a third of all cryptocurrency trading volume. The main adopters are from Japan, South Kor, a and China via Hong Kong.

Coinbase Might Add Ripple

Major cryptocurrency exchange, Coinbase has recently announced that it is working to add support for more coins in the future. This has led speculators to go long on Ripple. As one of the oldest and most established cryptocurrencies in the ecosystem, many believe that it’s only a matter of time before Coinbase adds support for Ripple, giving the general public an easy outlet for purchasing the token.

Looking at Ripple’s Chart

Ripple’s XRP finally surpassed the $1.00 barrier and is rapidly approaching $1.2.

Ripple XRP Daily Chart - Fibonacci
Ripple XRP Daily Chart – Fibonacci

Once the bullish sentiment dials down, we could expect yet another period of consolidation with XRP. There could even be a pullback towards one of Fibonacci’s key restracement levels.

Tell Me More About Ripple and XRP

Ripple, Inc. is the company that builds and maintains the Ripple network. It has built a blockchain-based system that banks use to issue IOUs and settle debts. XRP is Ripple’s asset and native token.

What’s XRP Used for?

XRP basically has two uses. One is to pay fees on the Ripple network. The other is being used as a “bridge currency” for value transfers between any two institutions that don’t have a trusted relationship.

However, what cryptocurrency enthusiasts need to keep in mind, is that XRP is not necessary for the Ripple network to function.

Ripple’s Market Cap

Ripple continues to save its spot as the 4th largest cryptocurrency by market cap. It is currently trailing behind  BitcoinEthereum, and Bitcoin Cash.


IOTA confirmed below a triangle chart pattern on Thursday after a Microsoft partnership misrepresentation scandal. What’s next for the new kid around the block?

What Went Down Before

Also called the new Bitcoin, IOTA’s market cap suddenly jumped to number 4 on the cryptocurrency list last week. Its price surged over 600% going from $1 to $5.5.

One of the main reasons the company got so much attention was that they made us believe they are fully partnering up with Microsoft.

CCN reported that large-scale conglomerates including Samsung, Cisco, and Volkswagen also partnered with IOTA, to utilize its Tangle-based solution for data monetization.

What Happened This Week

This week it turned out that Microsoft is not really an IOTA partner, but a participant.

But despite the absence of an official agreement, the two companies are indeed working together on several technology exercises involving IOTA’s Tangle network. The experiments include installing and connecting weather sensors to IOTA’s ledger technology.

How is IOTA Different than Other Cryptocurrencies?

IOTA’s name is a play on the ‘Internet of Things.’ With its simplistic worldview, it is actually seeking to build an ‘Economy of Things.’

IOTA’s mission is to connect businesses and their technological resources as something that can be traded.

But that is not all. According to some analysts, IOTA’s Tangle ledger is superior to cryptos relying on blockchain technology.

While the startup still needs meaningful partnerships to advance, the ecosystem appears to show a lot of promise comparing to its peers.

Looking at the Chart

IOTA’s price dropped for the second consecutive day on Thursday, breaking below its new key support level. At the time of writing, it is testing below a symmetrical triangle chart pattern.

IOTA Tests Below Triangle Chart Pattern
IOTA Tests Below Triangle Chart Pattern

For now, from a technical point of view, we are still in a wait-and-see situation.

In a traditional market, if the price confirms below the triangle we could expect the bearish sentiment to continue towards next support levels. In this case, it would be the 50% and 61% Fibonacci levels at 3.17 and 2.6 respectively.

However, cryptocurrencies, in general, have shown that they are not following the typical market behavior. At least for now, when there is so much noise going on about them.

Regardless, for those who still have faith in this cryptocurrency, this could be a good opportunity to purchase it at a lower price. That is if you have sufficient risk tolerance to play this market.

Invest responsibly!

Kiana Danial

I really wanted to write about a cryptocurrency other than Bitcoin today. But Bitcoin price just won’t give us a break! After reaching a new high above $14,000 on Wednesday, the market decided to break yet another record. Testing almost $20,000 on Thursday!

Bitcoin Price Action

Bitcoin price sure did erase some of the gains at the end of the day. But it started Friday’s trading session on yet another bullish momentum.

Bitcoin Price Tests Near 20000 - Daily Chart
Bitcoin Price Tests Near 20000 – Daily Chart

At the pace the Bitcoin price bubble is growing, it appears we may not even see any point in counting on periodic pullbacks to any psychological market levels.

But if Bitcoin price were to test a support level after these massive gains, it might be the 23% Fibonacci retracement level $16,425.

Bitcoin Market Cap

As the king of cryptocurrencies, Bitcoin’s $297B market value has now passed Bank of America’s $288 billion. So basically, if we were to compare Bitcoin to the largest companies in the US by market cap, it would rank number 11 right after JPMorgan Chase and Exxon Mobil.

But is this enough for investors to keep pouring money and investing in Bitcoin?

Bitcoin Investment Strategy

Bitcoin backers view it as a currency and payment system of the future as well as a new kind of investment. They say it’s an emerging alternative to the USD, euro and yen and an investment such as gold, stocks or bonds.

Skeptics say Bitcoin is impossible to value, wildly volatile and a speculative play that may never gain widespread acceptance.

Should You Invest in Bitcoin?

This really depends on your personal risk tolerance, current financial situation, and future goals.

But even if you are an investor of high-risk appetite, at this point I would recommend thorough risk management ahead of time.

Personally, I believe we could see the $50,000 price level for Bitcoin before the bubble bursts. However, for all Bitcoin investors out there, it is important to set target limit orders and at least take partial profit as the Bitcoin price goes higher.

This way, they will be able to manage the risk of a potential Bitcoin bubble burst.

Needless to say, and as we always recommend to all traders, only invest the money that you can afford to lose!



Kiana Danial





Along with Bitcoin, Ethereum had a crazy day this week. Although Ethereum had a more predictable correction right to the previous resistance level of 395. We were expecting the pullback because Ethereum tends to have a pullback every time it reaches new highs.

ETH/USD Technical Analysis

ETH/USD reached a new high of $480 last week. After consolidating in that area for four days, it rode on the Bitcoin mania and reached a predictable level on Wednesday. 

ETHUSD Technical Analysis
ETHUSD Technical Analysis

We could see further drops for ETH in the coming days, towards the next support level at 339. However, so far, market participants appear to be indecisive on which direction to take Ethereum next.

Ethereum Founder Unveils Plans for “Ethereum 2.0”

Meanwhile, Ethereum’s founder, Vitalik Buterin, unveiled his plans for “Ethereum 2.0” this week, which would be the next-generation version of Ethereum.

The Ethereum network was originally born as an idea for next-generation cryptocurrency network to begin with. It could do a lot more interesting things than just financial transactions. But, in the past years, it has also revealed a few major issues within the network.

According to Buterin, there are currently three major problems that need to be solved to push the Ethereum network to the next level: privacy, Consensus and smart contract safety, and probably the biggest of them all: scalability.

To overcome these, Buterin explained that the next generation of Ethereum will use a new architecture called “sharding,” which will enable the network to process thousands of transactions per second — all on the same chain, which means safety will not be sacrificed.

Buterin also noted that sharding will create new types of addresses on the network, which will give Ethereum the opportunity to evolve by adopting new backward incompatible protocols without disrupting the main blockchain. Once Ethereum 2.0 is launched, it could potentially create yet another bullish market for it to bring it to new highs, but of course, this could take some time.


Bitcoin’s biggest competitor isn’t Ethereum

While we’re at it, let’s through this idea around.

The biggest competitor to bitcoin and its crypto-empire might appear to be Ethereum. Ethereum has the second-largest market cap of any digital currency, and it’s had an even better year-to-date performance than bitcoin. Further, its blockchain is being tested in small-scale and pilot projects by 200 different organizations in the Enterprise Ethereum Alliance.

But the two cryptocurrency giants seemingly have different missions at the moment. Ethereum appears intent on pushing its blockchain to enterprises, while somewhat ignoring its Ether token as a means of payment. Meanwhile, bitcoin has focused extensively on building up its reputation as a payment facilitator, and only recently turned its attention to attracting businesses to its blockchain. While competitive to a degree, bitcoin and Ethereum aren’t direct threats to one another.

Instead, bitcoin’s biggest competitor just might be Litecoin. As of Nov. 27, Litecoin had the sixth-largest market cap of all cryptocurrencies, at $4.9 billion, trailing only bitcoin gold, Ripple, bitcoin cash, Ethereum, and bitcoin.

We will dig deeper into Litecoin next time!



Kiana Danial

Invest Diva