Cryptocurrency Sentiment: The Positive Wave
Conversations in the cryptocurrency realm have skyrocketed, with a whopping 85.5% of discussions reflecting a positive outlook, according to tech researchers. While social media praises Facebook’s Libra currency with a mind-blowing 97.7% positivity, traditional media seems to rain on the parade, showcasing more skeptics than supporters. Go figure!
Central Banks and the Libra Effect
Since the last financial fiasco, central banks have been playing a dangerous game of money-multiplication, printing like it’s going out of style. Hiromi Yamaoka, a former Bank of Japan executive, pointed out that the rise of Libra might just make central bankers self-discipline ninjas, avoiding currency debasement. The battle between digital currencies and fiat might just heat up.
Top Three Cryptocurrency Underperformers: Are They Attractively Cheap?
With sentiment turning bullish after a scrappy period, are we looking at potential buying opportunities in the underselling market? Let’s dive into the charts of the top three losers of the week.
DASH/USD: The Stuck Star
DASH has been stuck in a pricing limbo, bouncing between $95.43 and $120.84 for over 15 days. It’s like watching your friend try to decide between pizza toppings—pure indecision. If it breaks below $95.43, it’s expected to plunge to $58.49. But for now, let’s hold those horses since the digital currency is hovering near the middle of its range.
XLM/USD: The Understudy
Stellar XLM hasn’t dazzled in recent months and is flirting dangerously close to its yearly lows. After gallivanting around $0.08, it’s threatening to dip below its 200-day comfort zone. But don’t sell your XLM party hats just yet! If it breaks out above 20-day EMA, we could see a resurgence—next target, $0.145.
EOS/USD: The Gentle Fall
Meanwhile, EOS has reported a meager decline of just over 1%. After a jaw-dropping 448% rally from a low of $1.58 to a high of $8.69, it’s understandable that some traders would want to take profit and head to the beach. But if EOS can break above its descending channel, we might find ourselves back in the race to $6.75 or higher.
To Buy or Not to Buy: Trading Strategies Explored
With all this high-stakes chart drama, the question remains: should you be diving into these assets? Here are some witty and wise strategies:
- For DASH: Wait for a breakout above $120.84 before even contemplating a purchase.
- Stellar XLM? Buy above $0.10 for a better shot or keep your eye on that breakout above the moving averages!
- As for EOS, only consider the long game when it decides to break free from its downward spiral. Patience is the name of the game!
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