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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

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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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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