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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

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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