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MGO MobileGo Technical analysis

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MobileGO or MGO has shown positive dynamics in recent months and still remains strong in contrast to the entire falling cryptocurrency market.

The MobileGO digital currency or MGO has shown positive dynamics in recent months and still remains strong in contrast to the entire falling cryptocurrency market. This is due to the fact that the development team constantly provides announcements of important events and introduces new technologies.

MGOUSDT Price Chart

MGOUSDT Price Chart

There are reasons to believe that the positive dynamics might continue in the future. Let us look at the price movement on the MGO/USDT chart for the last 3 months on the example of Bitfinex exchange. The first thing I want to draw attention to is the extremely strong support level(marked with a green line) at the mark of 36 cents. The price has 4 times bounced off it, in one case having made a false breakout. Apparently, this level is important for large buyers and they will continue to defend it until they can close their positions at more interesting prices.

A hidden divergence has formed on the MACD indicator on the 6-hour timeframe – this indicates a possible reversal and local growth.

The market profile shows a trading channel in the range of 3-month support line at the MGO price level of 36 cents up to 63 cents with the maximum volume of trading at 45 cents, and this level in the near future can act as new support. Also, this level coincides with the lower boundary of the rising wedge. It is advisable to make purchases if the price reaches the area of 45 cents.

The token might be interesting for adding to your investment portfolio. In falling market conditions, MGO could maintain and improve its position. In addition to the bullish trend on the chart, it has a strong team that improves the technical part of the token, adds it to new exchanges, negotiates to new wallets and game developers. Only in the last six months, the token was listed on Bitforex, Idax, Digifinex, as well as on such giants as Bitfinex and Huobi.

 

Disclaimer: The following article is not financial advice and only presents the views of the writer. The readers are advised to do their own research and analysis before investing or trading in any digital currency.

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#Exchange

Alert: Singapore Exchange DragonEx Hacked

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DragonEx crypto exchange based in Singapore has allegedly been hacked on 24th March 2019. The exchange told its users about the hack on telegram.

DragonEx crypto exchange based in Singapore has allegedly been hacked on 24th March 2019. The exchange told its users about the hack through an official message on their telegram channel.

 

DragonEx Hacked:

According to the announcement, the hack led to the theft of the cryptocurrencies that belong to the exchange as well as the cryptocurrencies that belong to the users. The hack was instantly identified by the DragonEx team.

 

According to the official announcement by the admin, they were able to retrieve only a portion of the total cryptocurrencies and the team is working hard to get back the other stolen cryptocurrencies as well. Also, the team has informed many judicial administrations about the cybercrime base lodged by the exchange which includes Singapore, Thailand, Hongkong, Estonia etc. The team is currently trying to assist the police in the investigation and the exchange has currently shut down its operations.

 

The admin also told the users that DragonEx is taking full responsibility for the lost assets of users. The total amount of cryptocurrencies that were compromised during the hack is however still unknown.

 

The admin also stated a warning that the exchange will never ask the users about any personal information such as password, verification code, SMS code etc and users shall be aware of such fact. The admin also provided twenty addresses to which the hacked or stolen cryptocurrencies were sent. These twenty addresses are of twenty different cryptocurrencies such as BTC, LTC, ETH, XRP etc.

 

The admin also requested other cryptocurrency exchange as well as the people in the cryptocurrency industry to help them in investigating the case and trace the cryptocurrencies.

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#Exchange

Premier of Bermuda: QuadrigaCX would not loose its keys if it was registered in Bermuda and not Canada

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According to E. David Burt, the premier of Bermuda, QuadrigaCX would not have lost its keys if the company was registered in Bermuda rather than Canada.

According to E. David Burt, the premier of Bermuda since 2017, QuadrigaCX would not have lost its master keys if the company had been registered in Bermuda rather than Canada. He gave his statements during an interview with the Fortune on ‘Balancing the Ledger’. He mentioned that a case like QuadrigaCX is not possible in Bermuda because of the cryptocurrency regulations in the country.

 

The sudden death of the founder of QuadrigaCX exchange in December last year has led to a bunch of issues for the investors and traders who had kept their holdings on the exchange. QuadrigaCX is not being able to gain access to the cold storage wallets where the funds of the users were stored. According to the company, the founder was the only person who had the keys to the wallet.

 

As stated by the premier of Bermuda, if QuadrigaCX was registered under the Bermuda Monetary Authority and not in Canada, the current situation would not have happened because according to the regulation for the custody of the master keys, the keys shall never be held by any single individual.

 

The premier also stated that Bermuda’s Digital Asset Business Act which was incorporated in 2018 has set a frontier for the companies that deal with blockchain technology and cryptocurrencies and makes sure that the rights of the clients always stay protected. The Act explains about the master keys, the handling of things, to make sure they are not lost, and even if they are lost, there should always be a method of recovery.

 

Blockchain and Cryptocurrency in Bermuda:

Bermuda is well known for being a crypto and blockchain friendly nation. The Bermuda government also made an announcement last year of its plans for amending the current Banking Act for establishing the latest class of banking system for rendering services to the blockchain and fintech businesses in the country.

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#TRON

TRON: TRX listed on eToro Exchange

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eToro, social trading, and multi-asset brokerage company based in the United Kingdom has confirmed the listing of TRX or Tron on their exchange.

eToro, social trading, and multi-asset brokerage company based in the United Kingdom has confirmed the listing of TRX or Tron on their exchange in a tweet today.


eToro launches in the USA:

The news for the listing of TRON has come just days after eToro has launched its cryptocurrency exchange services in the United States of America. eToro made an announcement that earlier this month that the exchange is going to provide its cryptocurrency trading services for 13 cryptocurrencies which include BTC, ETH, XRP, LTC, BCH and XLM to customers across 32 states in the United States.

 

No effect on the price of TRON:

TRXUSD Price Chart

TRX/USD Price Chart

 

Even after the official announcement by the exchange, there seems to be no positive movement in the price of TRX. The TRX is ranked 11th according to market capitalization (data from coinmarketcap). TRON is down by around 2.75% in the last 24 hours currently trading at $0.023367 (at the time of publishing) according to bitfinex chart.

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