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

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Litecoin
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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

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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