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

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EOS
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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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