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Litecoin (LTC) Cardano (ADA) Price Analysis: Interesting Action Under the Surface

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Cardano
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The outcome distribution for the cryptocurrency complex over recent days has been relatively consistent in terms of bearish action. With the key differentiation comes into play is in terms of relative strength when compared to chart levels in place over the past six weeks.

For example, as we take a close look at Litecoin (LTC) and Cardano (ADA) below, we see two coins that have managed to show some relative weakness but still hold tentatively above their June lows. This can be contrasted with many large coins that have already dove below those lows.

In other words, in a manner of speaking, these two coins may represent an interesting pattern of somewhat stealthy accumulation going on under the surface.

Litecoin (LTC)

Price Analysis

  • High: $75.177
  • Low: $73.283
  • 24-Hour Volume: $259.89M
  • 7-day Percent Change: -10.55%

Chart courtesy of tradingview.com

When taking a close look at the Litecoin (LTC) chart, one should immediately be drawn to the massive bullish divergence that can be found when comparing the 14-day RSI print seen in late June with the readings we see in that indicator at present.

This is important because the coin is currently at basically the exact same price right now as it was back when it formed those key late June lows.

When you see a major oscillator like the 14-day RSI print a reading that is nearly 20 points above its comparable reading from the prior pivot low as it tests support, this can often be a kind of stealth bullish signal.

When we also point out that LTC is one of the coins that had been correlated with other coins clearly making new multi-month lows over recent days, we also have justification to keep Litecoin (LTC) on bounce radar until or unless it is able to securely break below the $71 level.

Cardano (ADA)

Price Analysis

  • High: $0.13198
  • Low: $0.12775
  • 24-Hour Volume: $54.31M
  • 7-day Percent Change: -14.15%

Chart courtesy of tradingview.com

Cardano (ADA), like Litecoin (LTC), has been an interesting combination of relative strength and relative weakness at different points in its recent pattern.

Cardano (ADA) is currently testing key support at the $0.12 level, and it is a level that needs to be held to maintain a pattern that could well represent important levels of accumulation.

Also like Litecoin (LTC), Cardano (ADA) is sporting something that might be considered a bullish divergence on the 14-day RSI pattern. However, over the very recent action, we have seen basically neutral action in terms of the tape, and very little in the way of any kind of signal from the MACD on the hourly chart.

The near-term trend is down – that much is clear and cannot be denied. However, key support levels are in play, and we have some larger time frame signals suggesting that the bearish read here is far from a simple one in ADA.

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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Blockchain-Focused ETF Arrives on London Stock Exchange

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blockchain-focused ETFs
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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Jeff Bezos
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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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cryptocurrency tax
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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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