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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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