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EOS Litecoin (LTC) Price Analysis  — Fending Off the Attack

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EOS

Recent action has reintroduced a sense of vulnerability for a number of large market cap coins, including the two that we are going to look closely at today – EOS and Litecoin (LTC).

After a month of strength and seeming resiliency in a number of different coins across the cryptocurrency complex, we have moved to a stage where many charts are beginning to probe key support levels that hold the potential to signal either a trapdoor and a swift break to new lows or a reaffirmation of sturdy support and the potential for a base from which to reverse course back to the upside.

This dynamic is apparent in the two charts below.

EOS

Price Analysis

  • High: $7.3171
  • Low: $6.9056
  • Major Resistance Level: $7.30
  • Hourly MACD: Rolling Over

EOS spiked lower last night to probe critical support at the $6.84 area. That support level held once again and drove the coin back up to reestablish itself above the $7 area.

If EOS is able to hold this zone of support and move back higher to test recent range highs, a powerful test of resistance lies above where we see a confluence between the 50-day and 200-day simple moving averages, both in place right around the $8.50 level.

In other words, if EOS is able to fend off sellers and maintain its recent support levels, and then reverse ground and move back higher, a massively important breakout potential could be just around the corner.

But it has to prove itself once again first.

Litecoin (LTC)

Price Analysis

  • High: $78.523
  • Low: $76.079
  • Major Resistance Level: $78.25
  • Hourly MACD: Rolling Over

Litecoin (LTC) has tested and reaffirmed key support in the $76.25 area 3 times in the past 36 hours. That represents a strong response to a tremendous amount of pressure.

If you pan back and look at the very long-term chart for Litecoin (LTC), the zone between $75 and $95 is a defining area. It first played important resistance back in August and September 2017. And then it played both resistance and then support in November and December 2017, acting as the trigger point for the massive breakout and run higher than we saw during the mania period to close out last year.

Now, it is playing both roles for the Litecoin (LTC) chart – with key resistance stepping in above the $90 area and key support stepping in below the $75 area.

During the recent range, we have seen bullish divergences in major oscillators such as the 14-day RSI, possibly pointing to a growing potential for this to turn into a meaningful base on a break back higher through that range resistance level, which would also represent a breakout above a declining 50-day simple moving average.

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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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