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

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Litecoin

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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