NetCents Technology (NC.CN) Breakout on Visa Fast Track Program News!

NetCents Technology
08/11/2020

NetCents Technology (NC.CN) had a breakout confirmed yesterday with a close above the resistance at the 1.34 zone. Some would say this was a breakout of a rising triangle pattern. Currently, we are back retesting this breakout zone, which is completely normal for breakout price action. What price does today will be key. Either we see buyers step in and protect this support zone, or we have a daily close below this support, which means the stock price can fall lower and perhaps range a bit longer. Price could end up drifting lower to catch the uptrend triangle line that I am sure the bulls have charted.

But so far, we stick with our breakout trigger, and that price is beginning to retest the breakout zone. At time of writing, I am seeing buyers step in on the intra day time frames, but it will be the daily chart close which will be telling for us. If we remain above, there are two resistance zones of interest, and take profit targets for a trade. The first would be the 1.90 zone, and the second would be price approaching the 2.75 zone. If price approaches the latter, how the candle prints will be telling. Why? Because there will be a chance of a breakout rather than a double top, but we will assess this once price approaches that level. 

NetCents did release big news yesterday which triggered and should add momentum to the breakout. The company joined Visa’s Fintech Fast Track Program:

NetCents Technology Inc., a cryptocurrency payments technologies company, today announced that it has joined Visa’s Fintech Fast Track program, partnering with Visa’s team to bring the NetCents Visa Card to market in the United States and Canada.

By joining the Visa Fintech Fast Track program, NetCents is able to speed up the process of integrating with Visa, allowing NetCents to more easily leverage the reach, capabilities, and security that VisaNet, the company’s global payment network, offers. Through Fast Track, NetCents is now able to seamlessly roll out the NetCents Visa Card to its users in North America and expand into additional geographic markets. Previously, the Company was ready to launch the NetCents Credit Card program to users in Canada but chose to end that program when the opportunity to work directly with Visa arose.

“By joining Visa’s Fast Track program, exciting FinTech’s like NetCents gain unprecedented access to Visa experts, technology, and resources,” said Terry Angelos, SVP and Global Head of Fintech, Visa. “Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency.”

Unlike other prepaid cryptocurrency cards in the market, NetCents cardholders will not have to pre-load cryptocurrency onto their card, eliminating potential “lost” appreciation caused by rising cryptocurrency values between the time the user loads it and the time they spend it. The NetCents Cryptocurrency Credit Card is tied directly into users’ NetCents wallets, allowing cardholders to spend the cryptocurrency in their wallet. A key innovation that the Company has developed is the ability for users to automatically complete a single credit card transaction across multiple cryptocurrencies.

“Ever since we pivoted NetCents in 2017 towards cryptocurrency transactions, our mission has been to create efficiency in the financial transaction industry,” stated Clayton Moore, Founder and CEO of NetCents Technology. “Having a direct relationship with Visa allows us to have the most streamlined and cost-effective system to blend the capabilities of cryptocurrency and the Visa platform. We’re looking forward to a long and fruitful collaboration.”

Visa’s Fintech Fast Track Program provides companies like NetCents the ability to access Visa’s growing partner network, and experts who can provide guidance in helping them get up and running in the most efficient way possible. Learn more about Visa’s Fintech Fast Track program at https://Partner.Visa.com.

 

If you are not familiar with NetCents technology, NetCents offers merchants, partners, and users an entire cryptocurrency ecosystem by providing full payment integration, Instant Settlements, and security while giving users access to over 40 million merchants worldwide.

Our cryptocurrency expert at Equity Guru, Joseph Morton, summarizes it nicely:

If you’re not familiar with NetCents, they’re a tech firm that equips businesses with the technology to add cryptocurrency processing into their payment model without exposing themselves unnecessarily to the risk and volatility of the cryptocurrency market.

You can read Joseph’s recent coverage on NetCents Technology here.

To a lot of us traders, this stock is a cryptocurrency bull play. A few of the cryptocurrencies have broken out on the daily charts, but the momentum as of now, has not continued as I would have liked. Bitcoin is still holding a higher low, and can run to 13,200.  But my chart of interest is Ethereum.

As you can see, Ethereum has broken above a major flip zone (an area that has been both support and resistance). Recently, price has gone back to retest this breakout zone and we are seeing buyers step in and price is remaining above. This is hopeful, but after 10 days since the breakout, price has not carried momentum forward. I will do a wrap up on the crypto charts and my bullish case on them.

Related Posts

Latest Post

Leave a Reply

Your email address will not be published. Required fields are marked *