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Ethereum (ETH) LiteCoin (LTC) Price Analysis - Battle Royale - Global Coin Report
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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

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

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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crypto trends
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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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