Connect with us

Blogs

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

Published

on

Cardano

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~

For the latest cryptocurrency news, join our Telegram!

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

Continue Reading

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

Continue Reading

Press Release