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EOS Litecoin (LTC) Price Analysis: Sheer Magnetism

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EOS
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Some people seem to believe that technical analysis somehow doesn’t apply fully to the cryptocurrency complex. Such a theory betrays a lack of understanding of the point of technical analysis. The idea here is not simply about using tools that other people use as a way of getting ahead of those people using those tools.

In fact, the art of technical analysis is centered on the notion that there is more information betrayed by the collective behavior and decision-making of a group of people than simply the behavior of those people.

In other words, patterns of decisions made by groups of people tend to hold consistency through time, leading to the potential that one can begin to make projections to those patterns given that they all represent the same thing: a bunch of people.

This is just as true for cryptocurrencies as it is for stocks or fiat currencies or commodities or any other market. Consider this as we examine the charts today for EOS and Litecoin (LTC).

EOS

Price Analysis

  • High: $8.4451
  • Low: $8.2748
  • Major Resistance Level: $9.00
  • Hourly MACD: Tight Consolidation

Chart courtesy of tradingview.com

When looking at a chart of EOS, one may see a trading range. That’s a perfectly valid interpretive stance at this point, particularly when considering the past 4 to 6 weeks.

EOS has in fact been trading in a range roughly defined by support at the $7 level and resistance at the $9 level.

However, one may also see the relatively flat top to this pattern and the recent trend of rising lows. That suggests that we have the possibility of coming into a place of a bullish ascending triangle pattern in EOS.

If so, that could immediately bring into play – upon triggering of the bullish trigger level – a breakout to test the 200-day simple moving average, which would also occur in confluence with the psych $10 round number resistance level. That area could well act as a “price magnet” above the current market.

Given all these factors together, that appears to be a relatively predictable flow of events if we do in fact see the initial bullish trigger to this setup.

Litecoin (LTC)

Price Analysis

  • High: $84.904
  • Low: $83.968
  • Major Resistance Level: $100

Chart courtesy of tradingview.com

Litecoin (LTC) exhibits many characteristics that are similar to EOS, as described above. However, one of the most striking differences is that Litecoin (LTC) does not have a flat top to its recent pattern beginning with its pivot at the lows in late June.

Instead, Litecoin (LTC) has something that we would have to see, on a closing basis, as a series of rising highs and lows that will either resolve itself as the beginning of an upward trend or as a bearish pattern formed as a rising wedge in a downward trend.

One factor leaning our interpretation of the pattern slightly in the bullish direction is the fact that one can see – on a closing basis – the rough outlines of a double bottom in late June and early July that also includes a very clear bullish divergence on the 14-day RSI oscillator.

Conveniently, for traders wishing to play along with this thesis, we can easily set risk as a break of the sloped support defined by the low pivots we have seen come into place over the course of this month.

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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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