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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

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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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