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Litecoin (LTC) Cardano (ADA) Price Analysis: The Silver Lining

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Litecoin

Litecoin (LTC) and Cardano (ADA) are both extremely interesting charts to focus on during this leg of the overall cryptocurrency complex bear market in play at the moment.

The bear is growling, but the sentiment is also souring to levels that may not allow for much more downside as weak-handed positions clear from the market. Now, it is our job to look ahead and spot the key levels that may define the next pivot that establishes the chart reference for future support.

Litecoin (LTC)

Price Analysis

  • High: $67.551
  • Low: $65.184
  • 24-Hour Volume: $304.98M
  • 7-day Percent Change: -13.87%

Chart courtesy of tradingview.com

The Litecoin (LTC) chart is particularly interesting because we are starting to drill down into levels last seen during the fall and winter of last year.

One of the most important such levels came into play last night at around the $65 level. As we have tested it, we have put in to play a very clear momentum divergence defined by a bullish comparison on the 14-day RSI in terms of the readings scored in late June versus those we are seeing now on the chart.

In other words, the Litecoin (LTC) chart is being defined by last selling pressure even though that selling is coming at lower levels.

While we can hardly make any promises – and that is not, in fact, our intent – we can say that the benefit of experience suggests that this type of divergence is the sort of thing you see during the later stages of a bearish move, suggesting the possibility of a bounce coming into play before long for Litecoin (LTC).

Cardano (ADA)

Price Analysis

  • High: $0.12384
  • Low: $0.11454
  • 24-Hour Volume: $63.22M
  • 7-day Percent Change: -12.79%

Chart courtesy of tradingview.com

Like a number of coins, Cardano (ADA) is one that is managed to remain slightly above its late June lows. This marks it out, strangely enough, as a minor point of relative strength when compared to many other large market cap coins.

Clearly, the most important level that may come into play is at $0.11. If we see that price, we are seeing new 2018 lows, and the possibility of a larger breakdown and follow-through to test the lows put into place in early December of last year at around $0.08.

While this may seem like a long ways off, at the rate the complex is deteriorating right now, it may not really be that far. And, although it may seem like a counterintuitive idea, a very rapid move from here to that level in Cardano (ADA) may actually provide the best larger time frame outcome distribution given the potential for an emotional climax selling process.

Such a process would likely trigger massive skews in the major oscillators on both the daily and hourly time frames, putting into place a possible serious capitulatory low that could act as a key reference level for new campaigns on the long side in Cardano (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

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

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

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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…

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