Slump or Not, BUIDLers Gonna BUIDL

The cryptocurrency market has been anything but stable in recent days. But we, the Finrazor team, do not let the spikes and free falls distract us from work. For the past few weeks, we’ve been preparing a series of educational beginner-friendly articles about some of the more established as well as newer technologies

After all, it’s the tech that we are here for, isn’t that right?

Some of the more widely supported and well-established projects include

  • Ripple, a set of technologies that promise to revolutionize cross-border payments and provide on-demand liquidity;
  • Nano, a highly scalable cryptocurrency powered by the block lattice DAG-based structure;
  • IOTA, another DAG-based high-performance cryptocurrency enabled by the Tangle technology that seeks to be useful in the age of Internet-of-Things and M2M economy.
  • Cardano, a highly ambitious smart-contract platform that employs a strict academic approach to development and peer review process.

Privacy coins and the explorers of the mysterious zero-knowledge cryptography

  • Monero, the biggest Bitcoin-based privacy coin which uses a clever combination of cryptographic technologies such as Ring Signatures, Bulletproofs and stealth addresses;
  • Zcash, another cryptocurrency that uses zk-snarks to give users an option of making their transactions anonymous. Zcash recently held a hardfork called Sapling;
  • Dash, a privacy-focused cryptocurrency that provides users with anonymity by employing coin-mixing techniques,
  • Mimblewimble, a protocol that promises an unprecedented level of scalability which concurrently solves the issue of privacy. It can be implemented as both a sidechain to Bitcoin or a separate blockchain, as are Grin and Beam.

Some of the lesser-known, yet promising projects

  • Algorand, a new protocol that promises high scaling by employing Byzantine agreement and cryptographic sortition.
  • Holochain is a wildly different beast. Unlike many blockchain projects, it puts the individual node and its freedom as the core consideration for protocol design.
  • Avalanche does not even have an implementation yet but still has gained a lot of attention due to its clever design that builds four protocols upon one another and forms a single technological stack.

XRP

0.4543 USD
1.98%

ZEC

85.65 USD
1.37%

DASH

170.40 USD
1.94%

ADA

0.09184 USD
1.19%

XMR

96.55 USD
-0.86%

NANO

1.77 USD
0.43%

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Crypto Price Analysis & Overview: Bitcoin, Ethereum, Ripple, Monero, Beam

Bitcoin The price was supported on critical levels as indicated in the chart. Meanwhile, it holds positively and produces higher lows that are technically healthy. However, it should be considered that a potential correction could set us back as far as $6,000. Support in the $8,000 range held this week. We saw a failed attempt to break above the 200MA and the upward trend stopped at $8,350. Ethereum Against the USD, the price has been relatively stable since the last correction. Resistance is at $195. Support in this range is at around $170. The RSI is low and despite the increase in sellers, the price hasn’t been affected. Against BTC, the trend was broke and we’re looking for support. Meanwhile, it’s in the 0.021BTC range. The next level of support is expected at 0.02BTC. Resistance in this range is at 0.022BTC. While the upward trend is falling apart, price is still above the 50MA which is a positive sign. The RSI is very low. Ripple Against the USD, the trend continues to rise towards the 200MA as we have indicated. This seems to be the target and there is resistance at 32 cents. Support is around 28 cents. However, is it a positive trend or is it a double top here and it’s a trap? Against Bitcoin, the upward trend hasn’t been tested at the 200MA at 3900 SAT. If this resistance breaks, the next one is expected at 4400 SAT. Support is seen at 3300 SAT. Monero Against the USD, support and demand cycles in the $50 range. If this level fails, the next support can be estimated at around $44 according to Fibonacci and the previous bottom. Resistance is at $60. The 50-20MA line is far away and the RSI is at the bottom. If the resistance at $66 breaks, the next one is expected at around $75 at the 200MA. Against BTC, the trend is going down and the attempts to change it have failed. Only a 15-20% increase would bring confidence back to the market. Resistance in this range is at 0.007BTC while support is found at 0.006BTC. Beam Against the USD, there’s not a lot of trading information but we still got analysis and tried to figure out where the levels are and what moves should we keep an eye out for. The bottom is at 52 cents with a high trading volume. Support is at 56 cents while resistance is at 64 cents. In general, it looks similar to the move we marked in the yellow circle so it’s important to consider that from here we can also find a new bottom. On the other hand, if the resistance breaks in and the price manages to rise above the 0.618 Fibonacci levels, it will be very positive and we can see a change in the trend. Against BTC, the chart looks technically similar to what we saw against the dollar. We marked the move in yellow once again and if we see consolidation above the 0.618 Fibonacci levels, this would bring confidence back to the market. In the meantime, support in this range is at 680 SAT and resistance is at 740 SAT. The post Crypto Price Analysis & Overview: Bitcoin, Ethereum, Ripple, Monero, Beam appeared first on CryptoPotato.
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