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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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