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EOS Litecoin (LTC) Price Analysis – A Test of Faith

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Litecoin
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In any emerging trend, there will always be moments that represent a “test of faith” – when the initial believers are forced to face up to the reality of uncertainty that defines any market position.

In this case, in the trend that got started to the upside in many cryptos earlier this month, we are now facing one such moment with the SEC stepping in to definitively reject the Winklevoss Bitcoin ETF application.

Now, we will get that most valuable of gifts to a chartist: the reaction. For EOS and Litecoin (LTC), this may well be extremely telling.

EOS (EOS)

Price Analysis:

  • High: $8.33
  • Low: $8.11
  • Major Resistance Level: $10.00
  • Hourly MACD: Consolidation

    Image courtesy of tradingview.com

Ever since finding resistance in the $22 area back in late April and early May, EOS has been steadily absorbing losses until finding double bottom support near the $7 area in late June and mid-July.

However, the tone for EOS – along with the rest of the cryptocurrency complex – has decidedly shifted since the middle of this month in a manner that forces us to rethink many of our basic technical biases surrounding this market at present.

Chief among our concerns with EOS at this stage must be its relative weakness when compared with several other outperforming large market cap coins over the past couple of weeks.

However, those concerns would abate significantly were we to see this coin breakout above its major moving averages and challenge the $10 level following the dip that we have seen across the complex over the past few hours.

Not only would that reaffirm support and the notion of an important double bottom now technically in place in the charts, but it would lend more credence to the notion that EOS is continuing to fill the role of a potential “phase 3 coin”.

Litecoin (LTC)

Price Analysis:

  • High: $83.49
  • Low: $82.74
  • Major Resistance Level: $92.00
  • Hourly MACD: Lateral Range

Chart courtesy of tradingview.com

If you focus closely on the action in Litecoin (LTC) over the past month, you might see a lateral trading range with little or no upside in the works, despite a broad-based rally among many leading coins over the last two weeks.

However, this may be missing the forest for the trees. The fact of the matter is this: we have seen a number of very sharp rallies in LTC during that period – moves significant enough to make more than a major impact on a trader’s fortunes.

For example, the rally we saw right dead in the middle of this month in LTC pushed the coin higher by nearly 30% in under 48 hours. This is obviously nothing to sneeze at.

At this point, to suggest something more powerful may be in the works, we would need to see a break back above the $90 level and an increase in volume to support the notion that strong-handed and deep-pocketed money was beginning to move back in and challenge the pre-existing tone for Litecoin (LTC) in place so far this year.

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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