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EOS Litecoin (LTC) Price Analysis – Gauging the New Momentum
Recent action has spurred a sharp reversal to the upside in a number of different large market cap coins across the cryptocurrency complex. We forecasted many of these moves with our recent analysis, noting seller exhaustion points as well as key bullish divergences in major oscillators.
At this point, what we have in play here is a chance at something bigger. Now, the game is to look for confirmation and the lack of important red flags.
Today, we’re going to take a close look at EOS and Litecoin (LTC) with all of these points in mind.
EOS (EOS)
Price Analysis:
- High: $7.95
- Low: $7.82
- Major Resistance Level: $10.00
- Hourly MACD: Recent Upside Momentum
Chart courtesy of tradingview.com
Naturally, given the recent action in the cryptocurrency complex, EOS has been feeding off of the momentum, helping to push the coin back up to test its early July range highs around the $9.00 level.
EOS clearly represents a relative strength play compared to most cryptocurrencies so far in 2018. The coin is still well above the levels we saw last fall, and even solidly above the asset-class-wide support pivot logged in mid-March of this year.
For those who managed to catch the lows in recent action, key resistance sits just above at a sharp confluence between the 50-day and 200-day simple moving averages, which recently crossed right around the $10 level, where we also see extra psychological resistance, being a highly visible round number.
For those wishing to gauge risk at this point, one wouldn’t want to see the coin quickly fall back below $7.50.
Litecoin (LTC)
Price Analysis:
- High: $83.06
- Low: $80.94
- Major Resistance Level: $92.00
- Hourly MACD: Recent Upside Momentum
Chart courtesy of tradingview.com
As one might expect, Litecoin (LTC) has vaulted higher in recent days along with the majority of the crypto complex. It should be noted that the move for Litecoin (LTC) comes off double bottom support at the $75 level with the second low representing a very clear bullish divergence on the 14-day RSI.
The action also represents a breach to the upside through the coin’s two-month trendline. While the overall longer-term trend remains technically poised with a bearish bias, the inflection we have just seen has the potential to blossom into something more substantial, potentially bringing into play key resistance at the $110 level.
At this point, the initial obstacles standing in the way of a further advance for Litecoin (LTC) is clearly the 50-day simple moving average which intersects the chart at around $93.
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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