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EOS Litecoin (LTC) Price Analysis: Critical Test in Progress
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
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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