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Litecoin (LTC) IOTA (MIOTA) Price Analysis – Are We Nearing Inflection?

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Litecoin
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It’s certainly no secret that recent action has been tough to swallow for overleveraged bulls with established positions from poor entry levels in the cryptocurrency complex.

With that in mind, we would like to take a close look at Litecoin (LTC) and IOTA today to keep a “weather eye” on the horizon for potential technical signals that may serve as early warning signs of a shift in the current trend beginning to take root.

Litecoin (LTC)

Price Analysis:

  • High: $78.11
  • Low: $74.40
  • Major Resistance Level: $87.00
  • Hourly MACD: Steady Downside Momentum

Chart courtesy of tradingview.com

Litecoin (LTC) has been a clear underperformer when compared to many other large market cap coins over the past ten weeks. The action continues to be situated well beneath the coin’s major moving averages, which all happen to also be downward-sloped at present, suggesting an intensification of selling evident on the chart during that period.

For Litecoin (LTC), the key here appears to be the coin’s recent test and breach of the $80 level, which defines the action in many ways over the past year. This level first played its part in the form of an important resistance level during the second half of 2017. However, late in the year, we saw a breakout and a sharp extension higher that quickly quadrupled the price of LTC in a matter of weeks.

The correction that ensued following that move has taken us all the way back down to test this key breakout zone, establishing new levels of oversold readings in a number of different indicators, including the MACD and the 14-day RSI – two indicators widely watched by market technicians.

Given that we have some very important levels in play, this may be a particularly important time to watch for a divergence among these indicators whereby we see lower lows for the coin in terms of price levels, while matching up higher lows in the major oscillators.

IOTA (IOTA)

Price Analysis:

  • High: $1.008
  • Low: $0.936
  • Major Resistance Level: $1.20
  • Hourly MACD: Steady Downside Momentum

Chart courtesy of tradingview.com

IOTA has a very similar chart history to Litecoin (LTC), but with perhaps an embedded sense of relative strength in terms of price levels achieved during the course of the recent bearish trend across the cryptocurrency complex.

In fact, IOTA is currently holding onto support that represents prior resistance from late last year before the coin’s breakout and sprint higher in December. This sets up the potential for a make-or-break level in play at the $0.90 area.

We will be monitoring the action around this zone very closely given that this coin has held this level on two important occasions over the last six months, suggesting the potential that a deeper-pocketed accumulation bid may be at work here supporting IOTA and providing this chart with an apparent sense of relative strength.

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

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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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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