• Monero is heavily bearish in the short-term, with any moves higher in the cryptocurrency currently being heavily sold
• A bearish head and shoulders pattern on the four-hour time frame suggest that the XMR / USD pair could drop towards the $58.00 level

The technicals for Monero are mostly bearish at the moment, with a number of patterns suggesting that the XMR / USD pair remains vulnerable to further losses while trading below the $88.00 level.

Remember 2018? Time was when you could buy a decent car with a single bitcoin, or a beater for an ether. Everyone was ready to get crypto-rich, and even ICO’s were to be redeemed by a new financial vehicle: the Security Token Offering.

The research team at SIMETRI, which now comprises 13 full-time crypto analysts, launched a new near-term trading dashboard – “Coins on the Move” – today that combines long-term fundamental research with short-term indicators and technical analysis.

The new dashboard, available exclusively to SIMETRI Research subscribers, is based on a variety of data points including:

Bitcoin dominance has fallen for the first time since early June. While that does not suggest significant sell-offs, BTC could be entering a ‘cooling-off’ period as the global economic outlook remains uncertain.

Bitcoin accounted for just over half of the cryptocurrency market at the beginning of April, but its share progressively increased over the past four and a half months, almost reaching 70% on August 9.

Bakkt is (finally) launching their Bitcoin futures exchange next month, but they might have some stiff competition.

Power Ledger, an Australian company providing blockchain-based solutions for tracking energy consumption, has announced the continuation of its successful energy trading trial in Western Australia. 

In partnership with Synergy and Western Power, producers and distributors of electrical power in the Western Australian region, Power Ledger began a trial in November 2018 to track renewable energy trading between 18 households in Fremantle, Australia.

The cryptocurrency market has somewhat stabilized, presenting a predominantly green landscape as Bitcoin struggles to stay above the psychological $10,000 marker.

Brave is on a roll this summer, with new additions to the crypto-powered browser almost every month. Earlier this month, Brave began to allow Twitter users to receive tips, and now, it has added two more highly-anticipated options. Wednesday’s release allows users to tip BAT tokens to individuals on Reddit and Vimeo.

• EOS remains technically bearish across the short and medium-term, as the cryptocurrency looks set for its fifth straight week of trading losses
• A bearish head and shoulders pattern suggests that a drop towards the $3.00 level is coming.

EOS is back under downside pressure on Thursday after the early week rally towards the $3.80 resistance level faded out, leaving the cryptocurrency on course for its fifth consecutive week of trading losses. At current levels, the EOS / USD pair has lost close to seventeen percent in value since the start of August.

Bitcoin is best known as a currency, but that’s not its only use. As the oldest and most-secure blockchain, the Bitcoin ledger has many applications that aren’t directly related to finance or payments.

In fact, anyone is free to use Bitcoin for their project, provided they pay for the space they use. But these complex applications typically need a secondary network to take care of the heavy lifting.