Monero made a bullish break from its descending triangle pattern but might still have a pullback opportunity for more bulls to join in. Applying the Fibonacci retracement tool on its latest swing low and high shows that the 61.8% level is closest to the broken resistance, which might now hold as support.
The 100 SMA is just crossing above the longer-term 200 SMA to signal a pickup in bullish pressure. In other words, buyers could keep gaining traction from here. A shallow pullback could find support at the 38.2% Fib or $183.284 or the 50% Fib at $179.306, which also lines up with an area of interest.
Stochastic is indicating overbought conditions and is just starting to turn lower to signal that sellers could regain the upper hand from here. RSI is also heading south from the overbought level to hint at a likely correction from the strong breakout move. If any of the Fibs hold as support, price could make its way back up to the swing high at $196.161 or higher.
Monero just confirmed its official support from cryptocurrency hardware wallet manufacturer Ledger as lead coder Richard Spagni mentioned in an interview.
“We are on Ledger already if you’ve got the dev kit,” he said. “I saw some commits happening today to fix a couple of small issues… I’d hope that probably alongside the Monero 0.12.1 release, there will be official Ledger support.”
This follows a successful hard fork for Monero that was done to protect the network from certain kinds of ASIC mining. Spagni has pledged to do everything in his power to allow small, individual miners to continue mining the coin as spin-offs like Monero Original and Monero Classic have emerged.
Meanwhile, the pickup in risk appetite in the financial markets on cooling geopolitical risks from Syria and China are also encouraging investors to place bets in cryptocurrencies again.
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The well-known Japanese cryptocurrency exchange BitFlyer has been criticized by the Japanese financial services Agency (FSA) for the lack of proper security measures for customers. In response, the exchange management intends to introduce a set of KYC rules, which will enter into force on April 26, 2018.
FSA forced BitFlyer to reconsider security measures
One of the largest exchanges in Japan is closely monitored by the FSA. Tokyo service allowed users of the digital currency to conduct trades without confirmation of the person, th and attracted the attention of the regulator.
The management was strict enough to treat all stock exchanges in Japan after a major hacking Coincheck. FSA has repeatedly issued warnings about the revision of the rules of registration of users on such services and even banned the activities of some of them.
It is reported that the cryptocurrency exchange BitFlyer allows Its users to trade as soon as they submit a copy of their identity cards, even without authentication of these documents. This was certainly a concern for regulators, as with insufficient verification of personal data, the platform could be used for money laundering.
After BitFlyer received the relevant notification from the regulator, its management reported that They would make the rules for the use of the site even more stringent.
According to the message made by the exchange, their users will not be able to trade cryptocurrency or cash funds from their accounts by simply registering on the service.
From April 26, 2018, they will have to confirm their identity and address. Similarly, users will not be able to use their bitcoin reserves to buy goods until they receive an email from the company.
Cardano is not insured against changes in the market, this cryptocurrency went after all and lost most of the price that they had at the end of December last year. However, the Ada token is still the most attractive for cryptocurrency investors.
The team of this digital currency is more interested in providing solutions for investors than any other project on the market. Previously, they focused on the pair ADA/USD instead of the pair ADA/BTC, because this is the step that most investors wanted to see.
Moreover, Cardano recently announced updates to paper wallets. This is an interesting development that shows how much the project team cares about its investors and their safety. Paper wallets can be considered the safest option for cold storage.
Large cryptocurrency funds such as BKCM LLC, managed by Brian Kelly, are extremely optimistic about ADA’s account. Most are considering raising their rates as markets move toward recovery. Recent market movements justified earlier assumptions about the explosive second quarter. This can push ADA far beyond$1.
Currently ADA takes the 7th place in the ranking of CoinMarketCap, with a price of 0.18 dollars per token, and the total capitalization is 4.89 billion us dollars.
