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Ethereum (ETH) LiteCoin (LTC) Price Analysis – Battle Royale

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Ethereum
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While overall market conditions have improved somewhat over the past week or so as the bleed lower has subsided for now and many cryptocurrencies enjoying a respectable bounce from lower depths, the struggle continues within a challenging environment.

In particular, numerous, if not the majority of coins/tokens continue to trade below their 20; 50 and 200 day moving averages, which paints an unfavorable technical picture as well as confirming the primary trend, which remains lower.

During the past several months, we’ve attempted to provide readers with some clarity as well as levels that both investors/traders could monitor and may find beneficial in attempting to navigate the landscape in the hopes of avoiding the tripping of landmines that have littered the field with an emphasis on risk management via the strict adherence to suggested levels of potential resistance and support of various names.

More specifically, we’ve made it very clear that from a short-term perspective, the 20 day moving average has proved to be a reliable guide throughout these past several months with regards to direction and nothing has changed or altered despite the bump in prices from their recent lows.

With that behind us, let’s take a look at the action of both Ethereum (ETH) and LiteCoin (LTC) in which both continue to demonstrate and validate our reference to the importance of the action surrounding their 20 day SMA via the charts below.

ETHEREUM

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As we can observe from the chart of Ethereum above, ETH continues to trade below its 20 (yellow line); 50 (blue line) and 200 (red line) day simple moving averages. In addition, we can also witness that since mid-May, ETH’s 20 day SMA has provided headwinds/resistance on four (4) separate occasions indicated via the shaded boxes with ETH unable to clear the hurdle and ‘stick/HODL’, thus far.

Therefore, as we’ve noted in numerous previous articles, both investors/traders would be wise in further monitoring of the action surrounding the short-term 20 day moving average, not just for ETH, but for any and all names that investors/traders may be following or have a current position in, for further clues/evidence with respect to direction. Until or unless such conditions/developments change or alter, we’ll continue to place emphasis on the 20 day SMA for short-term purposes.

Moving forward, the following levels may provide both investors/traders with some clarity with respect to direction and may want to utilize as a guide.

If, at any time in the days/weeks ahead, ETH is capable of clearing its 20 day moving average, presently residing at 470 and can ‘stick’, such development, should it materialize, would be and encouraging short-term start. Perhaps more importantly, should ETH go top-side of the 493 figure, such development may then open the door for a potential run into the 500-545 zone, which is where we find the declining 50 day SMA (534ish).

On the other side of the ledger, both investors/traders may want to utilize the 440 as primary as well as the 400-420 zone as secondary levels of potential support.

Nevertheless, ETH remains in a battle for control of its 20 day moving average as we stroke the keys on the keyboard.

LITECOIN

Without being redundant, much like ETC, LiteCoin continues to trade in similar fashion with LTC trading below all of its moving averages and continuing to do battle with its very own 20 day SMA at present evidenced via the daily chart above.

Similarly, LTC has failed on three (3) separate occasions thus far to clear its 20 day SMA since mid-May and finds itself in a struggle as we write.

Moving forward, potential resistance resides at the 90 as well as the 97 and 103 levels, while potential short-term support can be found at the 77-78 as well as 70-73 zone.

Needless to say, both ETC and LTC are presently engaged in a battle royale and continue to find headwinds/resistance at their 20 day SMA’s. Until or unless they can clear that initial hurdle, it will be difficult for either to gain traction as well as upside momentum.

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

DGB Price Prediction For 2018 and Beyond

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DGB price prediction
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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Altcoins

Why ZCash (ZEC) Is Heading to $10k

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ZCash
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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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