Technical Review of Noir Coin

This is not financial advice. I am not a financial adviser. If you take anything that I say to you as professional advice, you might get rekt. You’ve been warned. #DYOR

Continuing our privacy coin series from two years ago, this is a fundamental and technical analysis of NoirCoin.

"Noir is a decentralized digital currency created to ensure your transactions are secure, private, and untraceable. Our technology is based on the Sigma Protocol which provides you complete anonymity over your funds."

I have had an opportunity to investigate and use NoirCoin extensively.  Full disclosure; they are my podcast sponsors so I have intimate knowledge of the project and the team.  

Fundamentals:

$NOR is a privacy-centric coin based on Zoin and uses the Sigma protocol.  It is based on the Proof of Stake system and is designed as a daily use currency.  They recently switch from POW at the request of the community.  You will find that throughout this document I will mention the community frequently.  They are truly a community-based project and implement updates and enhancements at the request of the community.  In addition to being Proof of Stake, they also offer the opportunity to own and operate masternodes.  Load up your $NOR core wallet with 25,000 $NOR and you can start up a masternode as well.  

They are progressing well in their project roadmap.  They have hit most of their targets and are on track to complete all of the items on their todo lists.  They have a small but dedicated development team and they are active in both their Discord and Telegram groups.  If you ever have questions about the team or the project, feel free to reach out to them on any of these platforms.  They have been nothing but helpful to me.  If you check whale wallets in your FA routine, check out their new and really slick block explorer.

Statistics as of Wednesday, February 5, 2020, at 12:37 EST

Technical Analysis:

Indicators used: MACD, Aroon, and Volume indicators.  One Day candles.

Analysis date: 02/05/2020

I'm on the fence with $NOR today.  The indicators are conflicting.  While the Aroon looks good to me, there is a downtrend on the MACD indicator.  I think we are going to see a bullish cross but I am awaiting confirmation.  Stochastic RSI (14.,14,3,3) shows that we are well in oversold territory.  I'm buying as spot and I'll be prepared to hodl for a while.  I am not a trader.  I am more of an investor and I hodl for the long term.  

I hope you enjoyed my quick review.  Please feel free to leave comments.  Also, please check out our podcast at www.anchor.fm/investnoir3