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EOS Litecoin (LTC) Price Analysis – Gauging the New Momentum

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EOS
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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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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