Connect with us

Blogs

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

Published

on

Litecoin
READ LATER - DOWNLOAD THIS POST AS PDF

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!!

For the latest cryptocurrency news, join our Telegram!

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

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite