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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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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