Theta: the latest trading news of the crypto
Theta: the latest trading news of the crypto
Trading

Theta: the latest trading news of the crypto

By Federico Izzi - 26 May 2020

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Among the trading news today, it is impossible not to mention Theta.

Scrolling the list down to the 27th position, there is precisely Theta (THETA) which, with a further jump up 17%, achieves the highest peak both as capitalization and price, with a rise that goes beyond 46 cents of the dollar

TETHA 20200526

This is the absolute record of this token that jumped to the headlines these days because of the partnership with Samsung

Theta, among the top 100 for cap market, is the best rise of the day, followed by Zilliqa (ZIL), +16%, and Enjin Coin (ENJ), +15%. 

Enjin Coin, while not reporting any news in this regard, benefits from Theta’s partnership. 

It is worth remembering that last year Enjin Coin reached an agreement with Samsung to pre-install the application on the smartphone operating system of the South Korean house. 

EDO 20200526

Today sees the high jump of Eidoo (EDO) among the rises, which achieves a +25% on 24 hours, ranking among the best of the first 150 capitalized. 

Probably the reason lies in the recent announcement of the launch of debit cards issued by VISA

From the lows at the end of 2017, Eidoo has today recorded an increase of almost 1000%

It is also among the top 3 best performances in the last two months, followed by Theta which stops at +840%, taking as a reference the March lows and the highs of these days.

A week after the last failed attempt to leap above $10,000, Bitcoin sees a hesitant recovery in the last 6 days due to the profit-taking and adjustments of the network

Two weeks after the historic halving, Bitcoin is seeking balance on a fundamental level with miners who are also struggling with revenues. Bitcoin’s network in the last few hours seems to be stabilizing with blocks that return to being in the majority of the 10-minute average, which in the last two weeks has often doubled the duration for the extraction of blocks due to the difficulty that has remained high despite the hashrate decreasing, with a setback in percentage terms that is the deepest in Bitcoin’s recent years. 

coin360 20200526
Source: COIN360.com

The bullish signs are again prevailing with more than 80% of cryptocurrencies in green territory. Among the big ones, there is Bitcoin (BTC) together with Cardano (ADA), which regained the 11th position in the last few hours, both rising by 1%. 

The market cap goes back up to 250 billion dollars, earning a handful of billions from yesterday’s levels. Bitcoin’s dominance remains at 65.5%. Ethereum fluctuates around parity and dominance at 9%. XRP is at 3.4% market share.

For the third consecutive day, XRP is in the fourth position after being overtaken by Tether who now holds the third position for capitalization.

BTC 20200526
Bitcoin chart by Tradingview

Bitcoin (BTC) trading

With the bearish movement of the last 48 hours, Bitcoin goes to test the lower neckline of the bullish channel that accompanies the positive upward trend since mid-March. From this dynamic support, prices have found new purchases that have bounced the value of 8,600 to the current $8,960

It is necessary to maintain this trend by confirming prices above the $8,800 area

Otherwise, the first level of support is in the 8,500 and 8,100 area which correspond to the two static lows touched in the 48 hours before the halving

A positive signal would come with prices above the 9,300 dollar area. 

ETH 20200526
Ethereum chart by Tradingview

Ethereum (ETH)

After the break of the bullish channel occurred on May 21st, Ethereum prices are fluctuating just above and below the $200 level, which after being a psychological area in recent days, also becomes technical support at this level. 

For ETH, it is necessary to return as soon as possible above the bearish trendline that combines the decreasing highs since last mid-February and which passes in the 206-210 dollars area. A confirmed break above these dynamic resistance levels could attract new purchases and the possibility of pushing above $215, a threshold that has rejected every attack by the Bulls 5 times. 

A negative signal for Ethereum would come, in the medium term, with a sinking below $175, the lowest in the first ten days of May. 

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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