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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

Reasons Why You Are Much Safer When Crypto Trading on Dexes

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DEXes
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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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crypto billionaire
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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TokenRoll
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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Elite