Connect with us

Blogs

Litecoin, NEO Price Analysis: Some Positive Some Negative

Published

on

Litecoin
READ LATER - DOWNLOAD THIS POST AS PDF

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~

For the latest cryptocurrency news, join our Telegram!

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

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

Continue Reading

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite