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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

Bitcoin

Importance of Bitcoin ETFs and Bakkt for the Crypto Space

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Bakkt
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It is no secret that 2018 was a very bad year for cryptocurrencies, at least when it comes to prices and market cap. However, in its brighter moments, this year managed to set the stage for some very important events that are expected to make 2019 very successful and profitable. Two things have attracted the most attention, both of which were expected to occur in 2018, only to be moved for early 2019. Those two are Bitcoin ETF decision by the US SEC, and the launch of Bakkt.

What are Bakkt and Bitcoin ETFs and why are they important?

Let’s start with Bakkt first. Bakkt Exchange is a business that is set to launch at the very beginning of 2019. It is a cryptocurrency platform that is set to offer a large number of services, including things such as warehousing and trading. However, there is another thing that makes Bakkt special, and that is the fact that the exchange itself is a product of the same company that has created the New York Stock Exchange.

In addition, Bakkt will be supported by some very influential names, such as Microsoft, BCG, and even Starbucks, to name a few. Furthermore, Bakkt will support crypto-to-fiat conversions. Starbucks will actually be one of the companies that have volunteered to help test the system, as users will be able to convert crypto to USD that can then be used in Starbucks.

Bakkt exchange…

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Blogs

4 Best-Performing Cryptocurrencies in the Current Bear Market

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cryptocurrencies
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Cryptocurrencies have been experiencing a strong return of the bearish trend for weeks now, and only now does it show signs of weakening. However, experts believe that the situation will not repair itself so easily and that prices will remain low for a certain period.

However, when bear market strikes, the sentiment gets most bearish when the trend reaches the bottom. Everyone starts selling, and while short sellers can make a profit in this situation, analysts usually warn that the sale will only knock the prices down even further. Since most of the crypto-related news is already negative at this point, such predictions often make sense.

However, there is still one thing to keep in mind, which is the fact that when downtrend enters a capitulation, that often signals that a new bottom has been found. That is the perfect time to actually go against the bearish trend, and start buying. It is also a good opportunity to abandon the coins that seem too risky, and do not seem to have that bright of a future ahead of them.

Bitcoin has dropped by 87% from its all-time high, which it hit back in January. However, the rest of the market dropped with it, and it never lost its dominance, which still remains above 50% of the total market cap. In other words, while its price may have sunk to lows that were not seen for a while now, it…

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Blogs

Will The Stock Market’s Bearish Outlook Affect The Cryptocurrency Market?

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cryptocurrency market
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About 3 months ago I was reviewing what was happening in other markets as the cryptocurrency market kept falling. So I opened up TradingView and what I saw was something so incredible I had to look a second time, I thought I had opened up the BTC/USD chart but it had not yet fallen. I was a bit confused, but I realized my TradingView opened to the DOW, at the time it was looking extremely euphoric and then upon a little more research I saw it was in the longest bull since its conception.  I instantly wanted to see does this just apply to the Dow Jones or does it also apply to the likes of the Russel, S&P500, Nasdaq, Vanguard and then I even looked at the housing market. What I saw I am honestly going to say baffled me, what was there before me was a perfect opportunity, I knew that soon the stock market would fall and started letting people know about hedging.

Last year for many was a huge learning experience and even if many lost money, they learned about financial markets for the first time and may have bought their first ever investments. This was a huge plus for many people who were labeled noobs or noob investors. Why you may ask? Well, the simple answer is that noobs tried investing for the…

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