Technical analysis: . SysCoin/USDollar is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 43. . While the price downtrend in the daily chart is not broken, bearish wave in price would continue.
Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.090 to 0.059). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.090) Ending of entry zone (0.059)
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.140 TP2= @ 0.190 TP3= @ 0.250 TP4= @ 0.304 TP5= @ 0.34 TP6= @ 0.453 TP7= @ 0.584 TP8= @ 0.740 TP9= Free
While many here mainly focus on technicals (which I dig), I'd like to add some info on the fundamentals of this project because I found this knowledge generally lacking in the crypto space, and I found the project interesting. Upon review, I saw Syscoin has persisted through some early challenges in 2014 due to outside circumstances (theft of ICO funds by Ryan Kennedy of now defunct Moolah who was the arbiter)... Looking at what Syscoin has done since then shows they've stuck with the project through both rough and good times. So I count that very positive in a space where a lot of projects buckle and the people cut and run.
Project vision has expanded over the past year or two well beyond its earlier vision of just a decentralized marketplace on blockchain (which they accomplished) and a couple of smart contract functionalities. Seems like they recently solved the infamous blockchain "trilemma", with a functioning asset/token platform operating on a hybrid PoW/DAG layer called "ZDAG" - the project may well have achieved the highest TPS of any asset platform with a higher degree of decentralization and finality than a typical DAG, and low tx fees. Several ICOs have launched on it including CoinPayments Coin which targets the Point of Sale market to provide real-time crypto payment processing. BitCab and other ICOs as well. Team now appears focused on creating and improving dev tools and web interfaces to grant users a "walletless experience" putting blockchain in the background, and a new version of the protocol which will allow for Ethereum Smart Contracts to migrate to the Syscoin platform and operate on its much faster network at much lower fees. Developers seem professional, reputable, proficient. GitHub stays busy. There's a number of projects which have partnered up with them including BlockNet and Syscoin is a member of SuperNET which is now known as Komodo.
There's also Blockchain Foundry, Inc, a public traded corp formed by the project's founders. They seem to engage in very targeted marketing to enterprises and larger institutions to build custom blockchain solutions using Syscoin's identities, asset/token platform, and other capabilities.
All in all, while it might serve for trading in the immediate, I consider it a long term hold too.
easymatic
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@oneEyedJack, I actually downloaded Blockmarket recently, I was very impressed. The market is fully functional. They should mass market it it to stimulate adoption.
Project vision has expanded over the past year or two well beyond its earlier vision of just a decentralized marketplace on blockchain (which they accomplished) and a couple of smart contract functionalities. Seems like they recently solved the infamous blockchain "trilemma", with a functioning asset/token platform operating on a hybrid PoW/DAG layer called "ZDAG" - the project may well have achieved the highest TPS of any asset platform with a higher degree of decentralization and finality than a typical DAG, and low tx fees. Several ICOs have launched on it including CoinPayments Coin which targets the Point of Sale market to provide real-time crypto payment processing. BitCab and other ICOs as well. Team now appears focused on creating and improving dev tools and web interfaces to grant users a "walletless experience" putting blockchain in the background, and a new version of the protocol which will allow for Ethereum Smart Contracts to migrate to the Syscoin platform and operate on its much faster network at much lower fees. Developers seem professional, reputable, proficient. GitHub stays busy. There's a number of projects which have partnered up with them including BlockNet and Syscoin is a member of SuperNET which is now known as Komodo.
There's also Blockchain Foundry, Inc, a public traded corp formed by the project's founders. They seem to engage in very targeted marketing to enterprises and larger institutions to build custom blockchain solutions using Syscoin's identities, asset/token platform, and other capabilities.
All in all, while it might serve for trading in the immediate, I consider it a long term hold too.