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LiteCoin (LTC) XRP Price Analysis – Require Close Monitoring

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Litecoin
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The entire cryptocurrency sphere is once again finding itself under selling pressure with the landscape littered a sea of red in today’s session as well as resuming its primary trend lower. While the space had found some relief in the past week or so and managed to stem the bleed, at least temporarily, it appears as though sellers have once again reasserted themselves and are now in the process of taking control of the action once again.

Although we managed to spot a nice entry and subsequent 80% + run this past week with DGB, and hope that many of our readers participated, such set-ups remain far-and-few between with risk management remaining paramount in a very difficult tape within the larger confines of and ongoing bear market that has persisted now since late December- early January.

While we’ve spent considerable time and effort with regards to the short-term movements of numerous names over the course of the past several months, particularly with an emphasis on the action surrounding the 20 – day moving average seeking evidence/clues with regards to direction, we want to expand our horizons and time-frame in this piece as we feel it is imperative to garner as much information as possible in attempting to get a ‘Big Picture’ view of what is and may be transpiring.

With that said, let’s take a look at the Weekly charts of both LiteCoin (LTC) as well as XRP to see what the intermediate-term action may be foretelling.

LITECOIN

As we can observe from the weekly chart above, LTC finds itself trading below both its four week (yellow line) as well as its ten week (blue line) SMA’s. In addition,we can also observe that the 4WK moving average is nearing a potential cross of its 10WK and should such downside cross materialize in the days/weeks ahead, both investors/traders may want to take notice as such would likely suggest additional selling pressure may ensue.

Furthermore, LTC appears to be building-out a potential bear flag pattern (on the Daily Time-frame) and should such pattern resolve to the downside, we could be looking at a significant move lower in the not too distant future.

Thus, moving forward, both investors/traders may want to utilize the following levels as a guide as well as providing further clues/evidence with respect to direction.

If at any time in the days/weeks ahead, LTC violates the 70 level and is unable to recapture/recover that figure within a 48-hour period, such would likely suggest that lower levels are in play where we could envision a potential move into the 5 handle (50’S) zone down the road.

However, if LTC is capable of holding the line at the 70 level and more importantly, capable of moving topside of the 82 as well as the 87 and then 90 levels, such development/s, should they occur, would more than likely suggest that the worst is behind and in the rear-view mirror.

Nevertheless, although LTC has not broken down completely thus far, it certainly finds itself in a vulnerable posture requiring close attention moving forward.

XRP

Much like LTC, Ripple finds itself in a similar technical position on the weekly time-frame with XRP trading below both its 4WK and 10WK moving averages. Also, we can see that the 4WK is moving lower towards its 10WK and appears that we may witness a cross to the downside in the days/weeks ahead. Much the same as we noted with LTC above.

Furthermore, XRP is also building-out a potential bear flag (on the Daily Time-Frame) and should it resolve to the downside, such would likely suggest lower prices ahead.

Thus, both investors/traders may want to monitor the following levels for further evidence/clues with respect to direction moving forward.

If, at any time in the days/weeks ahead, XRP should violate the .42 level and is unable to recapture the figure within a 48Hr time period, such development, should it occur, would likely suggest that a move into the .20-.30 zone would be ‘In Play’.

However, if XRP can turn the tide and go topside of the .50 as well as the .55 levels, such action would be a positive and perhaps stave-off the potential for much lower levels, for now.

Nonetheless, while neither LTC nor XRP has violated critical potential intermediate-term support thus far, both remain in a vulnerable technical posture, both Daily and Weekly, whereby investors/traders would be wise in continuing to monitor the action with a close eye moving forward.

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

Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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ICO
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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Bitcoin crash
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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS
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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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Elite