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Daily Price Watch: NEO and LTC Price Analysis

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NEO

Bitcoin and the top 20 cryptocurrencies are making little or negligible progress which could only mean that tough times are ahead of crypto. Among the top 20 cryptocurrencies around the world, NEO and Litecoin have been all over the mainstream media for positive reasons. In case of NEO it has recently launched a preview for its new 3.0 platform and the company behind Litecoin, the Litecoin Foundation has reportedly acquired 9.9% stake in a German bank and secured a payment partnership with it.

Current Market Position of NEO and LTC

As per the time of writing, NEO and Litecoin are placed at the 13th and 6th largest cryptocurrency of the world according to Coinmarketcap respectively. NEO has accumulated around $2.08 million of market capital whereas Litecoin is amassed total market capitalization of $4.34 million. At the current moment, both of them are being traded at 2-2.30% loss at different crypto exchanges. NEO’s current price is approximately $32.09 and Litecoin’s current individual is close to $75.67. According to the 24 hours exchanged volume it is clear to see that $88 million worth NEO has exchanged hands within the past 24 hours and the figure is close to a whopping $273 million for Litecoin for the same amount of time.

Litecoin Analysis

Chart courtesy of tradingview.com

Litecoin had been suffering from the bearish trends of the markets since a long time but yesterday’s news regarding Litecoin foundation’s recent acquirement sent LTC on its path for a short recovery.

Price Analysis: as per the time of writing

  • High: 75.93
  • Low: 74.71
  • RSI: below 40

The key highlights of Litecoin price analysis are as follows:

  • The recent upside correction has sent Litecoin to a $75 against US dollars but the charts do point out towards a resistance of $80 which was $79 against US dollars yesterday. According to the feed from Kraken, LTC moved faster towards $75 and creating a support area.
  • Cryptocurrency enthusiasts have seen LTC struggling in the crypto markets after the major decline which means that the LTC/USD pair has to break in the middle of the resistance levels of both yesterday and today in order to gain more positive movement towards recovery.
  • If LTC buyers achieved the clearing of current $80 resistance, there’s a good opportunity for the coin to move ahead towards $82-83.00 levels but failure will cause the price against US dollar to reach at the bottom of $76.

NEO Analysis

Chart courtesy of tradingview.com

NEO charts are showing constant downtrends as time goes by and a negligible recovery section.

  • Price Analysis:
  • High: 33.94
  • Low: 32.82
  • RSI: touching 40

The key highlights of the price analysis for NEO against USD are as follows

  • If we look at the relative strength index or RSI, we can see that it’s going further reaching 40 which is indicating the fear of vendors to return and that makes NEO price fall continuously.
  • According to the charts, NEO has more open space to tumble and traverse from $36 to at least $42. Stochastic has moved towards south lately implying that NEO price would move further down.
  • Evidently, NEO is on its way towards a downtrend which would establish a selloff that would remain for a while. The currency is attempting improvement since the RSI on the 4hr chart indicates reversal formation around $32.

Remarks

Crypto traders are waiting for the retracement of market position. As the bears weaken, the bullish trend would start forming creating positive buzz and inviting more investors.

Happy Trading!!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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