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EOS Litecoin (LTC) Price Analysis: Critical Test in Progress

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EOS
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It’s very important to appreciate the process of a developing differentiation among the vehicles that we may consider to be the important players in the cryptocurrency complex at present. Too many traders still think of it as “Bitcoin and the Alt-coins” – like some kind of 1950s boogie-woogie band.

In fact, we are seeing the maturation of a rich tapestry of pieces on the chess board of the cryptocurrency complex as a whole. By and large, correlation levels are falling, and differentiation is entering the public trading zeitgeist as well as the chart patterns.

We are going to spend some time in the piece below taking a close and objective look at EOS and Litecoin (LTC), with an eye on spotting signals that the charts may be showing to guide us in our analysis.

EOS

Price Analysis

  • High: $7.1544
  • Low: $6.9518
  • 24-Hour Volume: $489.38M
  • 7-day Percent Change: -13.1%

Chart courtesy of tradingview.com

As we have noted in our prior coverage, EOS has been somewhat of an outperformer when you consider the broad landscape of cryptocurrency action going back to late 2017.

In fact, this is one of the rare coins that made a new all-time high during the spring of this year, exceeding its winter highs that were so dominant among those major players in the complex that tagged along with the Bitcoin mania into the introduction of Bitcoin futures on the Chicago Mercantile exchange in mid-December of 2017.

EOS has been on a bit of a roller coaster ride over the past six weeks, bouncing back and forth between $6.50 and $9.00 dollars in a wide trading range.

At this point, we are testing that support area once again, and getting no particular help from the major oscillators or indicators. Right now, it comes down to support from the chart level around the $7 dollar area to hold firm and prevent a dip down to test the April lows more than a dollar lower.

Litecoin (LTC)

Price Analysis

  • High: $76.712
  • Low: $73.691
  • 24-Hour Volume: $278.94M
  • 7-day Percent Change: -8.86%

Chart courtesy of tradingview.com

Litecoin (LTC) is possibly granting us a technical signal that should not be ignored: if support found over the last 48 hours were to hold, we would have in place on the daily chart a mammoth bullish divergence on the 14-day RSI indicator, when compared to the levels reached in both the price and the oscillator toward the end of June.

This type of indication can be extremely important in forming lows.

We would also point out that we have surpassed support levels in this coin that should have been important and may signal seller exhaustion now that we have stagnated beyond them and formed a bullish divergence like this in an important indicator.

Our advice is as follows: if you have been bullish on Litecoin (LTC) but haven’t pulled the trigger yet, you may want to give this one a serious look right now.

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

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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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