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Litecoin (LTC) Binance Coin (BNB) Price Analysis – Two Very Different Pictures

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Litecoin
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While the cryptocurrency complex remains dominated by Bitcoin, and while the popular view continues to be dominated by a cognitive association with the concept of widespread correlation among major cryptocurrency trading vehicles, the fact of the matter is that we do see clear and tangible technical differentiation among a number of highly liquid cryptocurrencies.

Today, we will focus on two coins that have been on very different trajectories over the past four months.

While this also serves to prove a point – that the crypto complex represents far more than just Bitcoin and Ethereum, and their respective gravitational effects – it also provides us with an opportunity to examine in closer detail two very different charts that are frankly both quite interesting at present: Litecoin (LTC) and Binance Coin (BNB).

Litecoin (LTC)

Chart courtesy of tradingview.com

Litecoin (LTC) has just completed what technicians often call a “round-trip”, in that the coin just overshot on the downside taking out the stop orders for those traders and investors hypothetically involved from a cost-basis that immediately preceded the extraordinary spike higher that began on December 8, 2017 at just above the $90 level and culminated on December 19, 2017 at an intraday high just under the $370 level.

LTC closed June with a break back under the $90 level, and a slide that nearly touched support at the $72.50 level.

For technical analysts, this provides something like a sense of closure and the possibility of the establishment of an endpoint to a corrective decline. In a sense, the idea is that the correction must hunt down and kill everyone still hanging onto the idea that the initial breakout was sustainable.

The action last month successfully completed that objective and also sliced under what had been a major advance and the establishment of new all-time highs logged in August and September 2017 just under the $100 level.

In addition, with the break to complete the round-trip and the run of hypothetical stop orders, LTC also printed an RSI score (14-day) under 25. That represents the most extreme oversold reading in the history of this coin’s chart.

This fact underscores the idea that there is a statistical potential – according to the precepts of standard technical analysis – that LTC may well be marking out the lower boundaries of this corrective phase.

This pattern is consistent with an idea that LTC may be starting to flash signals that it could be an excellent “Phase Three Coin” candidate – a term that refers to those coins situated for emerging leadership as the new bull cycle begins to carve out its existence possibly over coming months.

Binance Coin (BNB)

Chart courtesy of tradingview.com

Binance Coin (BNB) provides an exceptional contrast to the concept that all coins trade together. The chart above is a calculation of Binance Coin in US dollar terms. Using a similar standard, most coins that we look at have not managed to remain in an upward trending environment over the past four months. However, as should be clear from the image, BNB has managed to do just that.

Binance Coin has also remained above its 200-day simple moving average for the entirety of 2018. This also stands in stark contrast to the majority of the cryptocurrency complex. This is relative strength, plain and simple.

However, it should be noted that BNB is now testing the trendline defining its upward action since forming the pivot at its year-to-date low on February 5, 2018.

BNB recently checked resistance in late June around the $17.50 level, which roughly matches the closing lows of the interior range that defined the coin’s action in its gyrations near its all-time highs in January of this year.

Where we do see similarities to the rest of the crypto complex is in terms of the distribution of trading volume: we have seen a gradual tapering of average volume over the past four months despite the coin’s grinding upward action during that period.

Given all of these factors, it is imperative that BNB does not now proceed to break underneath both its upward trend line of the last five months and its 200-day simple moving average (ie, a confluence technical breakdown). This would be a sign suggesting Binance Coin could still play catch-up on the downside with the rest of the crypto complex.

However, at this stage, one has to give the benefit of the doubt to BNB just in terms of relative strength and the mechanics of price action displayed on the chart.

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

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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Elite