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Litecoin, NEO Price Analysis: Some Positive Some Negative

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Litecoin
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After strengthening the support near the $79.40 USD, Litecoin crossed the key resistance at $84.50 to move into the bullish region.

NEO continues to be bearish with critical support at $32.00 USD.

Litecoin (LTC/USD)

Price Analysis

  • High: $85.71 USD
  • Low: $82.20 USD
  • Major Resistance Level: Near $87 USD
  • Hourly MACD: Placed slightly in the Buy region.

Chart courtesy of tradingview.com

Last week, Litecoin (LTC) had experienced a sharp decline, moving below $90.00 against the US dollar. At one point, the price had gone below the $80.00 level. To prevent a further slide in the price, buying pressure had developed near the $79.50 level and the price action found an uptrend. The price action also experienced a move above the 23.6% Fibonacci retracement level of the $94.55 high to $79.31 low decline. Since today morning, the LTC/USD pair had marked a recovery by trading above $82.00. At the time of writing, as the chart shows, the price of Litecoin (LTC) is $84.03 against the US dollar. (As of 23rd July 2018) At the moment the price is placed slightly above the 100-hour simple moving average. The moving average (blue line) marks at 83.8892 currently.

Today, till now the high is $85.71 USD for Litecoin so, the next major resistance can be said to be the $87 level. The current moving average and the upward movement of the LTC/USD price shows that there is a chance of the pair continuing the uptrend. So far, as the chart shows, a small green candle has formed. The welcoming news is that the technical analysis from Trading View shows the hourly MACD slightly in the Buy zone.

NEO (NEO/USD)

Price Analysis

  • High: $34.68 USD
  • Low: $32.84 USD
  • Major Resistance Level: Near $0.36 USD
  • Hourly MACD: Placed slightly in the Sell zone.

Chart courtesy of tradingview.com

The NEO/USD pair has been trading red from 18th July 2018 with a small green candle on 21st of the same month. The pair is finding it hard to break the $40.00 resistance line and has currently moved below the $35.00 level. There has hardly been any major upward movement for NEO since 18th July. At the time of writing, the price of NEO (NEO) shows $33.21 against the US dollar and sports a very small green candle. (As of 23rd July 2018) The moving average (blue line) currently marks at 35.1977. At the moment, the crypto coin lies below the 50-DMA. The resistance level at nearly $37.00 is existing since 12th May 2018 and has become quite strong. The NEO/USD pair is thus finding is really hard to settle above the level. The pair needs to move above the $40.00 and settle above it to maintain a strong uptrend. However, if the buyers do not take an interest the price may fall below the $27.00 level.

As long as the LTC/USD pair trades above the $84.00 level and the 100 hourly SMA there is a chance of Litecoin continuing the uptrend. As for the NEO/USD pair, it will be a little hard for NEO to move from the current 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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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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…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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…

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