Coinspeaker Ethereum Price Jumps 14% to Move above $175We have been used to Bitcoin already traditionally leading the crypto market. However, it seems that the most popular altcoin is slowly but surely taking the lead. Ethereum price is rising by exquisite pace since Monday’s candle open at $142, the second-largest digital asset has rocketed 13.85% higher, reaching $175.13 just minutes ago as of the time of this article’s writing.This is the highest price ETH has traded at since March’s capitulation event, and 88% higher than the $90 price that was that day.This tremendous jump has liquidated more than $1.6 million worth of short positions on BitMEX including thousands of dollars more of liquidations being reported each and every minute. Do not forget, even though $1.6 million doesn’t sound like a number that big, it represents a huge slice of the whole ETH market that is, traditionally, much less liquid than it is the case with Bitcoin.What Boosted Ethereum Price Rise?However, everybody’s wondering – what happened that boosted Ethereum on these tracks. As always, there is more than one answer to that question or, should we say, more market trends to be considered.According to Skew.com data, investors really want ETH. U.S. dollar-denominated open interest in the ETH contract rose to $67 million today that shows that investors are opening long positions as a response to this move. In that way, the price is pressured higher.Also, it seems Ethereum price is catching up with Bitcoin and that is a good thing. Last month there was strong underperform and fall from $200 to $89 in just 24 hours. That is more than 50% fall so, perhaps it’s time to catch up a bit.One of the possible reasons could also be the fact that a key technical analysis factor is playing out. Ethereum finally got out from this escalating triangle pattern that usually results in further rise for the asset.Josh Olszewicz, a prominent cryptocurrency analyst who identified this pattern, explained that the recent breakout gives ETH a target of $200, which could be claimed within the next two days.What About Bitcoin? Vitalik Buterin KnowsBe it as it may, predictions are that ETH could rise some more. But, what about Bitcoin?There were numerous predictions in the last few months about Bitcoin’s possible movement. Some were right and some were very wrong.The co-creator of the Ethereum network and its native cryptocurrency Ether (ETH) Vitalik Buterin went on to mention the two worst Bitcoin price predictions ever made since the digital currency was introduced back in 2009.In an April 6 tweet, Buterin commented that price predictions on crypto markets are “notorious for turning out very wrong” — both on the bull and bear side.Price predictions on the crypto space are notorious for turning out very wrong – on both the bull *and* bear side. pic.twitter.com/KkapAAxQBX— vitalik.eth (@VitalikButerin) April 6, 2020So, the worst bullish Bitcoin prediction was, according to Buterin, made by John McAfee, founder of major software firm McAfee and a former 2020 United States presidential candidate.From Million-Worth to ‘Worthless’Back in 2017, when BTC was reaching its records, McAfee said:https://twitter.com/officialmcafee/status/935900326007328768After holding his prediction for years, McAfee eventually retracted the “legendary” $1 million prediction in January 2020 and last week he called it “worthless.”As the most inaccurate bearish Bitcoin prediction, Buterin picked a forecast from prominent American economist and famous cryptocurrency critic Nouriel Roubini. In February 2018, Roubini argued that Bitcoin was on his way to zero.He tweeted:As expected Bitcoin now crashes below $6000. Now the $5K handle is reached. And the US Congressional Hearing on Crypto-Scams is still a day away. HODL nuts will hold their melting Bitcoins all the way down to ZERO while scammers and whales dump and run…— Nouriel Roubini (@Nouriel) February 6, 2018However, Buterin commented that people shouldn’t forget that everyone makes mistakes and called for social incentives for saying “sane” things.Ethereum Price Jumps 14% to Move above $175
Coinspeaker British PM Boris Johnson Moved to Intensive Care Unit Due to Worsening COVID-19 SymptomsBoris Johnson, the Prime Minister of the United Kingdom was moved to the intensive care unit on Monday after his worsening Coronavirus symptoms. Last week, Boris Johnson was first detected positive for COVID-19 after which he was in self-quarantine at this residence in residence in Downing Street since March 26.In a video message last Friday, PM Johnson said that he had been feeling well but he still had some temperature. Earlier on Monday morning, the PM was admitted to the hospital as a “precautionary measure”. The British government has announced that Foreign Secretary Dominic Raab will take the PM’s duties for the time being. Raab has told the reporters that Johnson’s team will make sure to implement his plans to fight COVID-19.Briefing about the matter, a 10 Downing Street spokesperson said:“Since Sunday evening, the Prime Minister has been under the care of doctors at St Thomas’ Hospital, in London, after being admitted with persistent symptoms of coronavirus. Over the course of this afternoon, the condition of the Prime Minister has worsened and, on the advice of his medical team, he has been moved to the Intensive Care Unit at the hospital”.The spokesperson further appraised the situation saying that the PM is receiving excellent care. Besides, PM Johnson has also thanked the NHS staff for their hard work and dedication in the COVID-19 situation. The staff decided to move PM Johnson to St. Thomas Hospital’s ICU on Monday at 7 PM. Reports suggest that he was absolutely conscious at that time.Last night, on the advice of my doctor, I went into hospital for some routine tests as I’m still experiencing coronavirus symptoms. I’m in good spirits and keeping in touch with my team, as we work together to fight this virus and keep everyone safe.— Boris Johnson #StayHomeSaveLives (@BorisJohnson) April 6, 2020U.K. Is Major Victim of COVID-19, Trump Sends Best Wishes to JohnsonThe United Kingdom is one of the most infected countries in the world with coronavirus. As of writing this article, the total number of COVID-19 cases in the U.K. is 51,608 with over 5,300 deaths.Several experts have criticized the U.K. for responding very slow in taking quick measures. Finally, on March 20, the U.K. PM announced a nationwide lockdown. U.K’s decision came a long time after several other European nations imposed strict restrictions.U.S. President Donald Trump has extended his best wishes and support to the British PM after the latter was admitted on Monday evening.Trump was “very saddened to hear that he was taken into intensive care a little while ago”. “He’s been really something very special. Strong, resolute, he doesn’t quit, doesn’t give up. But when you get brought into intensive care, that gets very very serious,” added the U.S. President.British PM Boris Johnson Moved to Intensive Care Unit Due to Worsening COVID-19 Symptoms
Coinspeaker Bitcoin (BTC) Price Is above $7,350 as Traditional Markets Move North As WellBitcoin (BTC) price has crossed the $7,350 mark. Sources say that the world’s first working cryptocurrency crossed this overnight. Traditional financial markets rose as well. The Euro Stoxx 600 index is currently up by 2.79%. The UK’s FTSE is up by 2.93%. The Paris CAC 40 index is up by 3.38%. The Hang Seng is up by 2.06%. The Japanese Nikkei 225 is also up by 2.01%. Positive sentiment is across the board. On the American side, the Dow is up by 7.73%. The S&P 500 is up by 7.03% while the Nasdaq Composite has also gone north by 7.33%.Bitcoin (BTC) Price Rises Despite Bad NewsThese and other positive indices are coming at a time when global economies are giving negative statistics and COVID-19 is on the rampage. The market resilience has indicated a rise of optimism despite the current circumstances. Sources have said that the recent climb sends Bitcoin into buy territory. This also puts Bitcoin price in positive divergence. According to Bitcoin analyst Willy Woo, a bottom for Bitcoin prices has formed and this could be the support for a price rally. Two indicators reportedly show this. Firstly, the hash ribbons are going upwards. The hash ribbons are the moving averages of Bitcoins hash rates. They show the amount of computing power or hashes available in Bitcoin mining pools. An upward tick indicates that more computing power is available. The other indicator to show this is the mining s energy ratio. This is the ratio between Bitcoins market capitalization to its energy consumption. Woo further noted that this is the first time this ratio is indicating a buy zone since the crypto bubble of 2017. It also shows how things may look like as the bitcoin halving event nears in the middle of the year.There are still many skeptics though who believe that Bitcoin prices have entered a price malaise and a breakout is unlikely. Such people believe that there has been sufficient lag time for exponential price increases.On the flip side, this school of thinking has been considered to be extremely flawed by some. The lack of an effective fundamental position on the matter shows the weakness of the argument. Many Factors Are Working for BitcoinBitcoin prices are more resilient now than at this same time last year. The Bitcoin halving event is also coming in a few months. The also oft-held belief that Bitcoin is a hedge in times of crisis has also generally proven to be true. The COVID-19 situation is also a factor that is spurring the adoption of cryptocurrencies across the board.As such, barring any unforeseen catastrophic events, Bitcoin prices should rise in tandem with the factors at play. This is thinking of the majority of those in the crypto space.For now, though, everyone in the crypto space waits with held breaths as Bitcoin prices test the $8,000, $10,000, $13,000, $17,000 and the ultimate resistance $20,000. It’s 2020, anything is possible.As at the time of filing this report, Bitcoin (BTC) price was at $7,356.0194 (+3.81%).Bitcoin (BTC) Price Is above $7,350 as Traditional Markets Move North As Well
Coinspeaker Visa and Mastercard Stocks Rose 12% on Monday, Both Up in Pre-MarketThe world’s two largest payments companies Visa Inc (NYSE: V) and Mastercard Incorporated (NYSE: MA) seem to be undaunted by the coronavirus crisis. Both Visa and Mastercard stocks are up, allowing investors to believe they are the best buy now.On Monday, Visa stock closed 11.58% up at $169.44. It went slightly down by 0.26% after hours, trading at $169.00. But it has already recovered today in the pre-market trading. At the moment of writing, Visa stock is 3.69% up, $175.69 per share. Mastercard stock is also performing well. Yesterday, it added 12.23% to end at $265.94. After hours, it rose by another 0.023% up to $266.00. In pre-market today, Mastercard is also upgrading. At the moment of writing, it makes up $275.95 per share.Why Visa and Mastercard are Worth BuyingAccording to many analysts, both Visa and Mastercard stocks are a good buy despite coronavirus. And here’s why.Firstly, Visa and Mastercard, as well as American Express, PayPal, and Discover cards, are the dominant players in the US payments industry. In 2019, the two largest shares of the purchase volume were generated by Visa (60% of the volume) and Mastercard (26%).Secondly, Visa and Mastercard are a major part of the payment processing as Internet purchases have reached an all-time high. Wall Street analysts do not expect their revenues to be as high as in 2019, but in the coronavirus hard times, profits will still be impressive.Further, both Visa and Mastercard have significant growth opportunities and important partnerships. For example, Visa Token Service that replaces a consumer’s card-related sensitive information with a unique identifier and enables secure transactions without card or person is supported by Apple Pay, Google Pay, Netflix, Samsung Pay, Fitbit Pay, and Garmin pay.Mastercard Track, B2B global trade platform powered by Microsoft Azure, is collaborating with Basware, BirchStreet, Coupa, the Infor GT Nexus Commerce Network, Ivalua, Jaggaer, Liaison Technologies, Tradeshift, and Tungsten Network.In addition, both Visa and Mastercard have made a number of important acquisitions. In 2019 only, Mastercard acquired RiskRecon, SessionM, Transactis, Vyze, Ethoca, and Transfast. Visa’s list of acquisitions included Bell ID, Verifi, Payworks, and Rambus.Coronavirus RisksBoth Mastercard and Visa are trying to grow beyond card transactions. And this is another reason to consider buying their stocks. However, there are several risks resulting from the unstable market in terms of coronavirus.In an SEC filing, Visa said it expects the second fiscal quarter net revenue growth to be about 2.5–3.5 percentage points lower than the outlook shared in January. Mastercard revenue growth for the same period will also be lower than expected.Visa and Mastercard, as well as any stocks in any industry, have already been impacted by the current pandemic. But in comparison with tech companies, Visa and Mastercard do not have to suspend their activities, as there is always a necessity to pay for something.Visa and Mastercard Stocks Rose 12% on Monday, Both Up in Pre-Market
Coinspeaker Apple (AAPL) Stock Up Nearly 9%, Company Set to Release New 13-Inch MacBook Pro in MayWhen the market bell rang on Monday, Apple Inc (NASDAQ: AAPL) stock was moving up from the previous week’s low $235 to trade at slightly above $262. As of Monday evening April 6, the stock had risen by $21.06, which reciprocated to 8.72%. Today in the pre-market, the stock is also up. It is rising by 2.22%. It is worth noting that since the free fall that began after the outbreak of novel coronavirus, this is the second notable bull run. One of the possible reasons for such a move is the expectation of a new Apple MacBook Pro.It is a positive note to start the week and also the second quarter of the year, even as the effect of the coronavirus continues being a scare to the stock market in the future. At the time of writing, the coronavirus has infected over 1,300,000 people worldwide, which raises the fear of a continued effect even in this quarter and maybe the next.Apple has been adversely hit by the coronavirus both directly and indirectly. The direct one is by the fact that the disruption of the supply chain in China will delay most of its scheduled launch. Although China has partially opened up the country, there are still fears that the virus may reappear once more, since it has not been eradicated from other parts of the world.The daily operations of the company have significantly reduced with time, whereby even affecting the suppliers’ business. The New York Times reported that sales at Taiwan’s Hon Hai Precision Industry, Foxconn, which is a major supplier of Apple electronics, were down by almost 8% by March. Earlier, it was reported that the launch of the 5G iPhone will be delayed by months due to the coronavirus crisis.However, despite all the challenges being faced by the company, its stock has bounced up with a notable percentage.New MacBook Pro as a Possible Reason for Rise in Apple Stock amid CoronavirusThe stock market has been reacting negatively to the ongoing coronavirus outbreak that has marveled even the superpowers. The stock market is almost being brought to its knees if the situation is not under control by the end of the next quarter. Most of the government assistance will start depleting since the resources will get stretched to the limit.In order to keep up with the changing environment, Apple is using different tactics to keep afloat. One of the moves, according to the leaker claims, is the fact that the company is preparing to refresh its MacBook Pro 13-Inch in May 2020. It is expected that the company designers have put a 14-Inch screen all without altering the overall physical size.There are also rumors that Apple is preparing to introduce its low-cost iPhone SE in weeks. The sources reported:“While launching a mid-cycle entry-level smartphone into the backdrop of consumer global lockdown and unprecedented pandemic will be a head-scratcher to some, Apple is viewing this as a low-volume, low-touch release with little fanfare as the phones are already ready to ship.”Whether it is a good period for launching new products (or updated versions) is a very controversial question. However, only the time will show who will be the winners in such a situation.Apple (AAPL) Stock Up Nearly 9%, Company Set to Release New 13-Inch MacBook Pro in May
Coinspeaker Markets Closed in Green Yesterday, $1,200 Stimulus Checks May Be Not Enough for AmericansStock markets on Wall Street closed in the green on Monday after the number of newly discovered coronavirus cases in the country continued to decline slightly on a daily basis. Meanwhile, the United States Federal Reserve revealed earlier in the day that it “will establish a facility to provide term financing backed by PPP (Small Business Administration’s Paycheck Protection Program) loans.”Fed to Establish Term Funding Facility for Small BusinessesWhat actually happened, is that the Fed announced it will create this facility by providing term financing.Fed said:“To facilitate lending to small businesses via the Small Business Administration’s Paycheck Protection Program (PPP), the Federal Reserve will establish a facility to provide term financing backed by PPP loans.”Also, let’s not forget that the Fed already implemented a slew of measures to curb the negative economic effects of the COVID-19 pandemic.It introduced open-ended asset purchases and an array of other measures including the Term Asset-Backed Loan Facility to help the economy and a $300 billion program to help small businesses lend money.The central bank said that it wants to help the markets get through the coronavirus economic crisis and added it will continue asset purchases “in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.”The decision, which was brought by the Federal Open Market Committee unanimously, also directed the New York Federal Reserve Bank’s Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 0 to 0.25%. The FOMC also put a limit of $30 billion on overnight repo operations at an offering rate of 0%.The Dow Jones Industrial Average index jumped on Monday by 7.73%, or 1,627 points, at the closing bell, pulled up by Boeing‘s gain of 19.2%. The Nasdaq 100 increased by 7.35% at the end of the trading session, as Ulta Beauty rocketed by 20.29%. The S&P 500 climbed 7.03% at the close as clothing company PVH led the gains, surging by 28.3%.Buyers Starting Taking ControlMeanwhile, the Trump administration commented earlier that there are signs of stabilization in hospital rates. That also helped to lift Wall Street sentiment on Monday. New York State reported 594 new coronavirus deaths on Sunday, fewer than 630 on Saturday, marking the first daily decline in coronavirus-related deaths.Tom Lee, head of research at Fundstrat, said in a note to clients:“Incoming data suggests NY state might peak sooner than Cuomo’s optimistic case. With better visibility on the healthcare crisis in the US, particularly, on a potential to model a national peak, we believe buyers are now taking control.”However, the U.S. is by far the country with the most cases at over 330,000. Marc Chaikin, CEO of Chaikin Analytics said:“If we are fortunate to see an effective treatment there will be plenty of capital gains opportunities. For me capital preservation is more important than capital gains. Use sharp bear market rallies, like we saw last week, to raise sufficient cash to enable you to withstand further declines without panicking.”Also, there is another important instance. Even though the government started sending out $1,200 in stimulus relief money, many Americans already say it won’t be enough and that they will need another round.Americans Need More Stimulus ChecksA survey from SimplyWise, a retirement income technology company, found that 63% of respondents said they will need new stimulus checks. Currently, the government is making one-time payments of $1,200 to individuals and $2,400 to couples. However, the thing is, that approximately 10 million Americans filed for unemployment in the past two weeks. Meanwhile, $1,200 won’t cover monthly rents in many parts of the country.Mark Mazur, director at the Urban-Brookings Tax Policy Center said that in order to secure additional stimulus checks, Congress would need to pass new legislation.He noted that this process could be relatively quick because they now have a precedent for how to structure those payments.Markets Closed in Green Yesterday, $1,200 Stimulus Checks May Be Not Enough for Americans
Coinspeaker What Companies Hire Remote Workers as Fed Estimates Coronavirus Job Losses to Hit 47MBecause of the coronavirus spread, many businesses had to shut down. Thousands of hotels, restaurants, bars, retail stores have been closed, leaving people without a job and bread and butter. In the period between March 22 and March 28, 6.6 million Americans filed unemployment claims. And this number is continuing to grow. The U.S. Federal Reserve has made a discouraging forecast: coronavirus job losses could hit 47 million, resulting in a 32.1% unemployment rate.St. Louis Fed economist Miguel Faria-e-Castro stated:“These are very large numbers by historical standards, but this is a rather unique shock that is unlike any other experienced by the U.S. economy in the last 100 years.”Many companies have placed their workers on furlough, which means they are temporarily suspended from employment for a specified period of time. Among these companies are Macy’s department store chain, oil and gas producer Noble Energy that has also reduced its contractor workforce by 75%, H&M, and many others.To handle the situation, Congress approved a $2 trillion economic relief package. In addition, it signed a $100 billion bill addressing paid sick days, unemployment benefits and food aid. The bill also raised payments for the unemployed to $600 per week. Laid-off workers would get those payments for up to four months.Companies Hiring Remote WorkersWhile many businesses are laying off the stuff, there are companies willing to bring on new full-time and part-time remote employees. Let us see which remote-friendly companies are welcoming new stuff.AmazonThe e-commerce giant is looking for a Senior Security Consultant, Recruitment Marketing Specialist, and Senior Executive Marketing Manager, the Public Sector. Besides, Amazon is helping to deal with coronavirus job losses by hiring about 100,000 new workers. To handle the rising demand, the company has already hired 80,000 new hands.Amazon said:“We also know many people have been economically impacted as jobs in areas like hospitality, restaurants, and travel are lost or furloughed as part of this crisis. We want those people to know we welcome them on our teams until things return to normal and their past employer is able to bring them back.”Motorola SolutionsMotorola Solutions is offering remote positions of Area Sales Manager and Channel Sales Executive. The company’s goal as an employer is to enable workers in all types of industries to communicate, thrive, and perform their best work.UnitedHealth GroupThe American for-profit managed healthcare company is hiring a Registered Nurse Staff Development Instructor and a Triage RN Case Manager. As an employer, the UnitedHealth Group also offers a comprehensive benefits package to eligible employees.OracleMultinational computer technology corporation Oracle is looking for a Principle Linux Engineer and a Database Administrator. Hiring intelligent candidates, Oracle also offers exciting and challenging career paths in return.LiveAreaThe global commerce services provider aims to bring digital commerce to life by uniting artful design, trendsetting strategy, technology, and digital marketing best practices. It is currently offering the positions of a Magento Systems Engineer and a Front End Architect.Continuum Global SolutionsRemote position available at Continuum Global Solutions is Customer Service Representative.HubspotThe developer and marketer of software products for inbound marketing and sales is hiring a Corporate Account Executive – SaaS Sales and a Channel Account Manager.Citizens BankThe company is looking for a Home Mortgage Capital Markets Business Systems Analyst and an Appraisal Analyst II. Citizens Bank also offers competitive benefits to eligible associates. They include health insurance, generous paid time off, retirement plans, employee stock purchase options. Besides, it offers discounted bank services and loan rates, adoption and educational assistance.NetsmartAvailable remote positions at Netsmart are Chart Reviewer and Certified Coding Specialist.SalesforceCloud computing company Salesforce is ready to welcome a Senior Manager, Sales Enablement Program Management Office, and a Business Consultant, Digital Engagement – Marketing Strategy.But of course, it is far not the full list of remote jobs available. There are more options for specialists with different skills and experience. The world is changing these days and probably it’s a good reason for us to change our lives as well.What Companies Hire Remote Workers as Fed Estimates Coronavirus Job Losses to Hit 47M
Coinspeaker What Options There are For You if You Have 401(K) Loan and Lose Jobs amid Coronavirus CrisisSeveral economic disruptions have occurred since the novel coronavirus was announced as a global pandemic. As many people get laid off by their employers, the situation on the ground is becoming tougher by the day. As a result, a 401(K) loan is being considered as a better option to save most families that may have lost their jobs due to the coronavirus pandemic.Since its inception in 1978, it has grown tremendously to become the most popular plan among employers. This is because it is much more relatively flexible than other plans in the market. According to the act on the plan, one is allowed to borrow 50% of the vested balance up to a limit of $50,000. The loan is expected to be repaid in five years, otherwise, it attracts some penalties including from the taxman.According to a report by Vanguard’s 2019, How America Saves, 13% of all the 401(K) savers have an outstanding loan. The number is expected to rise if the current environment where coronavirus is threatening most lives prevail for a long period.What to Expect if You Have 401(K) Loan and Become Jobless amid CoronavirusAt the end of the first quarter of 2020, millions of people lost their jobs in the United States due to coronavirus pandemic. The figures that are observed now have not been seen in recent American history. As a result, most benefits that come with employment are cut short unexpectedly. Some of the notable include health benefits, a regular stream of income and many more.The coronavirus situation has significantly increased the number of people on 401(K) loans. And according to the current act, if you lose your job and have an outstanding loan, you are to pay the amount in full or the loan gets deducted from your balance. Although there are a number of reliefs due to the coronavirus pandemic, your loan from 401(K) plan could change slowly into a distribution that comes with taxes and an early withdrawal penalty. According to the executive director of the Plan Sponsor Council of America Will Hansen, if an individual gets laid off, it can speed up the time of repayment.Even as the CARES act makes some notable changes to meet the current financial situation caused by the coronavirus, it does not include loans that are unrelated to the coronavirus pandemic. However, if you are 55 years old and below at the time of job dismissal, you can pay a 10% early withdrawal penalty.What Options There are For You if You Have 401(K) Loan and Lose Jobs amid Coronavirus Crisis
Tron price is up more than 8% and it broke the $0.0120 and $0.0132 resistance levels against the US Dollar.
TRX price traded to a new monthly high at $0.0140 and it is currently correcting gains.
There is a major bullish trend line forming with support near $0.0128 on the 4-hours chart (data feed via Bitfinex).
The price could correct in the short term, but it is likely to find support near the $0.0125 area.
TRON price is back in a positive zone above $0.0120 against the US Dollar, similar to bitcoin. TRX price remains supported on dips and it could soon test the $0.0150 resistance.
Tron Price Analysis
In the past few days, there was a steady rise in TRON price above the $0.0105 resistance against the US Dollar. TRX price broke the main $0.0120 resistance area and the 55 simple moving average (4-hours) to move into a positive zone.
Finally, there was a break above the $0.0132 resistance and the price traded to a new monthly high at $0.0140. It is currently correcting lower from $0.0140 and trading below $0.0138.
An initial support is near the $0.0135 level. Besides, the 23.6% Fibonacci retracement level of the recent rise from the $0.0118 low to $0.0140 high is also near the $0.0135 support area. If there are more downsides, the price could decline towards the $0.0130 support.
The 50% Fibonacci retracement level of the recent rise from the $0.0118 low to $0.0140 high is also near the $0.0129 level to act as a support. More importantly, there is a major bullish trend line forming with support near $0.0128 on the 4-hours chart.
Therefore, dips in tron price remain well supported near the $0.0130 and $0.0128 levels. Any further losses may perhaps lead the price towards the $0.0120 support level.
On the upside, an initial resistance is near the $0.0140 level. A successful break above the recent high might open the doors for a push towards the $0.0150 level. Any further gains could lead the price towards the $0.0165 barrier.
The chart indicates that TRX price is clearly trading in a positive zone above the $0.0120 and $0.0128 levels. As long as there is no close below $0.0120, the bulls are likely to remain in action in the near term.
4 hours MACD – The MACD for TRX/USD is slowly losing momentum in the bullish zone.
4 hours RSI – The RSI for TRX/USD is currently correcting lower from well above the 70 level.
Key Support Levels – $0.0130 and $0.0128.
Key Resistance Levels – $0.0140, $0.0150 and $0.0165.
The post Tron (TRX) Price Analysis: Bulls Are Comfortable Above $0.012 appeared first on Live Bitcoin News.
Coinspeaker Dow Jones Bounced 1600 Points on Monday on Slowing Pace of Coronavirus DeathsWith the perpetuating uncertainty around the Coronavirus pandemic, the global markets continue to remain volatile. In a sharp and surprising recovery on Monday, Dow Jones jumped 8% or 1600 points to climb above 22,500 levels.As of Monday closing, Dow Jones was trading at 22,680 levels. Similarly, the S&P 500 also jumped 7% or 175 points on Monday, registering its best day in the last two weeks. Some experts think that the rally comes amidst the slowing number of COVID-19 cases in the U.S.With America being the worst hit, the total coronavirus cases in the country have jumped to over 367,000. But Sunday witnessed a slowdown in new cases from its previous days. President Donald Trump also briefed the press about the situation and the progress with coronavirus treatment. He said:“Currently, ten different therapeutic agents are in active trials and some are looking incredibly successful. But they have to go through a process and it’s going to be a quick process based on what the FDA told me.”Sam Stovall, chief investment strategist at CFRA Research in New York, suggested that the markets are in a mood that ‘this-too-shall-pass’. Stovall said:“Seeing the market soar the way it is, even though the fundamentals continue to be in free fall, the market is looking across the valley and saying ‘six months from now things will be on the ascent. They are looking across the valley and seeing a lot of scary news but are basically saying ‘We will get past this.”But it is too early to say anything at this stage whether this is the start of the recovery. The Dow has remained volatile over the last few weeks and economic indicators are not supporting the markets.Economy Shows Dark Pictures but Dow Jones Is Getting PointsEconomic experts around the globe have been stressing that we are heading towards a global recession and this is just the beginning. The total number of jobless people in the U.S. has already reached its peak and the number is expected to go to 5 million.Wall Street banker and JPMorgan boss Jamie Dimon believes that recession is on the horizon. Art Cashin, longtime NYSE trader also thinks that it will take a minimum of two-to-three quarters for the economic recovery to begin. Speaking to CNBC, Cashin said:“It looks like a longer recovery to me. You can hear it in the president’s voice and presentation, you can hear it from Gov. Cuomo. They all want to reopen, but they are all hesitant for fear that there could be a secondary wave of contagion.”He further added:“The question is, will the public be eager to rush back? Even people like you and me, who love to go out and socialize, it might be difficult to get that back any time soon. Will they come back? Yes. Will they come flooding back the day after they say you can relax social distancing? No. So the chances of a bounce back are there, the chances of a rapid bounce back are low.”While the Dow Jones ended Monday on an 8% rally, the stock futures have open lower today on early trading hours.Dow Jones Bounced 1600 Points on Monday on Slowing Pace of Coronavirus Deaths