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Stellar (XLM) Litecoin (LTC) Price Analysis: The Rhythm of the Bear

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Stellar
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Support levels can be extremely important. They are essential when they hold, but they are almost more important when they don’t. As we take a look at Stellar (XLM) and Litecoin (LTC), you will note this idea very much in effect on these charts.

Stellar (XLM)

Price Analysis

  • High: $0.20351
  • Low: $0.19719
  • 24-Hour Volume: $66.95M
  • 7-day Percent Change: -26.11%

Chart courtesy of tradingview.com

Stellar (XLM) had been a clear outperformer during the July bounce that took hold in the cryptocurrency complex and drove several coins up to test their 200-day simple moving averages.

Hence, we expected to see Stellar (XLM) show some kind of allegiance to its rising 50-day simple moving average as support, especially since it came in confluence with a prior range high price level support.

That type of combination is often hard to break, mainly when you see it in a relative strength market. However, in this case, it doesn’t appear to have been difficult to break at all.

Stellar (XLM) just sliced right down through it.

We are now seeing this chart nearing a test of critical support, and opening up the potential for another bearish technical breakdown if that support doesn’t hold as well. The key levels to watch at this point are lined up at $0.20, $0.18, and $0.17.

Litecoin (LTC)

Price Analysis

  • High: $64.223
  • Low: $60.433
  • 24-Hour Volume: $308.51M
  • 7-day Percent Change: -18.61%

Chart courtesy of tradingview.com

It has been a very rough ride for Litecoin (LTC) over recent days, but there aren’t too many coins for which one can’t make the very same statement.

Litecoin (LTC) broke lower along with everything else last week after finding strong resistance at a sharply declining 50-day simple moving average. That sparked a break under the $80 level, which also represented a sloped support level, and then the waterfall decline began from there.

At this point, the downside that we’ve seen over the last 48 hours is starting to become persistent and dramatic enough that the one bullish factor this chart had in its favor is beginning to melt away: the bullish divergence found on the 14-day RSI measure when compared with the pivot low scored on the charts in late June.

If momentum persists, look for the next major challenge to be at support at the $55 level.

That said, LTC is perhaps at a more advanced point in the rhythm of the bearish trend and may unleash a vicious bounce if the pool of weak-handed HODLers has already run dry.

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

Analyzing The Best-Performing Cryptos

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cryptos
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Over the nebulous first half of this year, some tiny cryptos were able to grow by more than 1000% and reach the desired top 100, while others that were already in the top 50 bastions simply zeroed. What factors led them to perform like this? Luck, external factors or well-made decisions?

First of all, it is important to clarify that it would be unwise to analyze them disregarding the market context (crypto and non-crypto) of the period, so we’re using a holistic approach.
In our timeframe, considering the traditional market cycle of emotions, in contrast to the standard chart below, the euphoria quadrant had a much larger peak and a much shorter duration, starting in the middle of 2017 and ending at the beginning of 2018, while we were stuck in the period of “excitement” since, maybe, 2015. The emotions in red passed in a rush and at the end of July, we were already in deep “despondency”.

Source: https://russellinvestments.com/ca/insights/the-market-cycle-of-emotions

Besides to the fact that the market completed half of the cycle in less than half a year, some very relevant things, besides the usual phenomena expected of an investment market, happened during this period. In addition to the hype the period enjoyed and the fact that bad, inexperienced investors were frantically joining the crypto market, we…

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Blogs

Is Tether (USDT) really a stable coin?

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Tether
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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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Blogs

TRON Partnership Involves Cloud Computing

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TRON partnership
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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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