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

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Litecoin
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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~

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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

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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Elite