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Daily Price Watch: NEO and LTC Price Analysis

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NEO
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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

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS
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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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6 Blockchain Predictions For 2019

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As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.

While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.

1. Search for new and better business use cases

Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.

Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.

2. Fixing blockchain industry’s image

For a lot of people, blockchain…

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TRON DEX Goes Crazy, TRX Founder Asks For More Projects

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TRON DEX
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Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.

So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.

TRON DEX sees massive growth in activity

Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.

While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.

In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…

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