Connect with us

Blogs

Litecoin (LTC) NEO Price Analysis: What’s Happening?

Published

on

Litecoin
READ LATER - DOWNLOAD THIS POST AS PDF

Litecoin has broken the key resistance line at $90 USD and is moving upwards. A short-term bullish zone has developed.

A comparatively slow start for NEO after a surge of over 8% in the latter stages of trading yesterday.

Litecoin (LTC/USD)

Price Analysis

  • High: $94.48 USD
  • Low: $88.90 USD
  • Major Resistance Level: $95 USD
  • Hourly MACD: Placed slightly in the Buy region and moving deeper.

Chart courtesy of tradingview.com

Yesterday, the price of the LTC/USD pair had made a major upward move and had gained a strong Buy momentum. Since early May 2018, after a slight surge in Litecoin’s price action, the cryptocurrency had largely experienced a bearish trend. As the trading chart shows, Litecoin has been unable to maintain a strong uptrend for a longer period of time. However, this has been the case for most of the cryptocurrencies this year. The LTC/USD pair had been correcting itself and slightly moving towards the green zone from 13th July, after the price had fallen below the $80 level on 10th July.

At the time of writing, the price of Litecoin (LTC) shows $91.01 USD and the moving average (blue line) marks 80.6689. Green candles have again started forming on the LTC/USD chart from 15th July, as can be observed from this chart. And, the candles continued to be in green this had gradually developed a bullish pressure on the buyers. Thus, the technical analysis from Trading View shows that the cryptocurrency is placed in the Buy region.

NEO (NEO/USD)

Price Analysis

  • High: $40.52 USD
  • Low: $38.53 USD
  • Major Resistance Level: Near $41 USD
  • Hourly MACD: Placed slightly in the Buy zone

Chart courtesy of tradingview.com

Yesterday, later in the day, the NEO/USD pair had jumped by over 8% after having a comparatively slow start. NEO has also been experiencing quite a similar situation to Litecoin. The price action of the pair NEO/USD had been showing an overall downtrend since 30th April 2018 after experiencing a short gradual uptrend since 7th April 2018. As can be observed from the chart, there had been a major downtrend prior to this event. NEO/USD pair had for the past three days sported green candles. So far today the cryptocurrency has been experiencing usual volatility. At the time of writing, as can be seen from the trading chart of NEO/USD, the crypto coin is trading at $38.96 USD. With major resistance placed near the $41 level and the moving average (blue line) at the time of writing marking at 34.8321, there is still a chance for the price action of NEO (NEO) to continue showing an uptrend. The pressure is still on the buyers that place the cryptocurrency slightly in the Buy zone.

The news that NewEconoLab, the team of NEO developers has decided to do technology promotion by offering $500,000 to those who will develop the best blockchain-based gaming application may attract more investors. As of now, it is to be seen whether NEO crosses the $41 resistance line or again moves into the bearish zone.

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