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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

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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Elite