-Bitcoin news, price, information & analysis The theme of the day had to do with Monero hard fork and EOS network developments. As we now know, Monero wants its new coin XMC to be ASIC resistant but apparently these miners have been behind it hash rate.
It’s evident. Shortly after the fork, its hash rate dropped 80% before recovering hours later.
EOS on the other hand is making visible progress with EOS Dawn 3.0 release. Obviously this is encouraging for coin supporters but in the short term, EOS is not finding support price wise.
Let’s have a look at these charts: XLMUSD Weekly Chart from Bittrex for April 7, 2018 Despite Abra listing Stellar Lumens and potentially exposing this digital asset to potential investors, prices remains relatively calm and down. Fact is, from yesterday’s dip, data from CoinMarketCap shows that there is exposure of Lumens to market forces and is actually down 1% in the last 24 hours. From a technical perspective and considering all these confluences, odds of further erosion in the next couple of days remains high.
Since price action is relatively calm, there are no major changes as far as support-resistance levels are concerned therefore $0.15 is still our immediate bear target. Of course, if there are rapid losses below week ending March 18, then our next target is $0.07. Read more from newsbtc.com…
thumbnail courtesy of newsbtc.com