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Litecoin (LTC) Price Analysis: Buying Dips Favored

Litecoin Price Analysis Chart

Litecoin price corrected lower
after trading as high as $62.04 against the US Dollar. LTC remains supported on
dips near the $57.00 and $55.80 levels in the near term.

Key Talking Points

  • Litecoin price extended gains above the $60.00
    level and traded as high as $62.04 (Data feed of Kraken) against the US Dollar.
  • There is a major contracting triangle in place with
    resistance at $59.60 on the 4-hour chart.
  • LTC price is likely to find a strong buying interest
    near the $57.00 or $55.80 support levels.

Litecoin Price Analysis (LTC)

After a decent upward move, there was a downside correction in bitcoin, Ethereum, EOS, ripple, litecoin and other altcoins against the US dollar. The LTC/USD pair traded as high as $62.04 and later declined below the $60.00 support level.

Litecoin Price Analysis Chart

Looking at the 4-hour chart, LTC price remained in an uptrend this week and traded above the $60.00 barrier. It traded as high as $62.04 and settled well above the 100 simple moving average (4-hour).

Later, there was a downside correction below the $60.00
support and the 23.6% Fib retracement level of the last wave from the $52.00
low to $62.04 high. The price even broke the $58.00 support level and tested
the key $57.00 support level.

Moreover, the 50% Fib retracement level of the last wave
from the $52.00 low to $62.04 high acted as a strong support. At the outset,
there is a major contracting triangle in place with resistance at $59.60 on the
4-hour chart.

If there is a break above the triangle resistance and the
$60.00 resistance, there could be more gains above the $62.00 level in the near
term. On the downside, there is a crucial support near the $57.00 level and the
100 simple moving average (4-hour).

The next support is near $55.80 and the 61.8% Fib
retracement level of the last wave from the $52.00 low to $62.04 high. Overall,
litecoin price remains supported on dips and it could climb higher once again
as long as LTC buyers continue to protect $57.00 and $55.80.

The market data is provided by TradingView.

The post Litecoin (LTC) Price Analysis: Buying Dips Favored appeared first on Ethereum World News.

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Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Stellar, Binance Coin, Tron, Cardano: Price Analysis, March 20

Another multi-million dollar token sale that sold out in minutes on Binance Launchpad shows that appetite for new coins with strong use cases is returning.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Binance Launchpad completed the sale of $4 million in Celer Network (CELR) tokens within 17 minutes and 35 seconds. This is the third such successful launch by the company. This shows that the market appetite is increasing for new coins that strong use cases.

Avnet, Inc, distributors of electronic components and technology solutions providers and Swiss online retailer Digitec Galaxus will accept cryptocurrencies. We expect many other players to go down the crypto path in the future. This will help bring crypto to the masses and realize the potential of crypto as a medium of exchange.  

Blockchain and cryptocurrencies are path-breaking technologies. However, it is difficult to change the attitude of the people accustomed to using outdated systems and platforms. To give the nascent space a favorable push among the lawmakers, the number of lobbyists working on blockchain technology issues in Washington D.C. tripled in 2018.

Though fundamentals have been improving, the price of cryptocurrencies has been slow to respond. Nevertheless, a few major digital currencies have risen sharply from the yearly lows. Are they good for more, or will the rally stall? Let’s find out.

BTC/USD

Bitcoin (BTC) has been trading in a tight range between $3,950 and $4,035 for the past three days. Usually, a tight consolidation is followed by a range expansion. We expect the bulls to propel the price towards the overhead resistance of $4,255. This level will also act as a stiff resistance. But if the digital currency breaks out and sustains above $4,255, it will complete a double bottom pattern that has a target objective of $5,273.91.

Both the moving averages are sloping up and the RSI is in positive territory. This shows that the bulls have the upper hand.

Contrary to our expectation, if the BTC/USD pair turns down from the current levels and breaks below the uptrend line, it can dip to the 50-day SMA. If this support also breaks, a fall to $,3575 is probable.

The trend will turn negative on a breakdown to new yearly lows. Such a move will dent the sentiment and can prolong the existing bear market. Therefore, traders can keep the stop loss on the long positions below $3,236.09.

ETH/USD

Ethereum (ETH) is holding the 20-day EMA for the past two days. But it has failed to breakout and rally above $144.78. We anticipate a strong decisive move within the next few days.

If the bulls scale $144.78, a quick rally to $167.32 is likely because there is no resistance in between these two levels. On a close (UTC time frame) above $167.32, the ascending triangle pattern that has a target objective of $251.64 will complete.

Conversely, if the bears sink the ETH/USD pair below the 50-day SMA, a fall to $116.3 is probable. Traders can protect the remaining long positions with stops at $125.

XRP/USD

Ripple (XRP) continues to consolidate in a tight range. This shows a balance between buyers and sellers. The flat moving averages and the RSI close to 50 suggests that the range bound action might continue for a few more days.

The next trending move will start either on a breakout of the overhead resistance of $0.33108 or a breakdown from the uptrend line of the ascending triangle.

On the upside, the target levels to watch out for are the resistance line of the descending channel and above it $0.40. Above this level, the XRP/USD pair is likely to pick up momentum. On the downside, $0.27795 is an important support, below which the slide can deepen to $0.24508. Therefore, traders can retain the stops on the long positions below $0.27795.

LTC/USD

Litecoin (LTC) is trying to bounce off the support at $56.910. If the bulls can push it above $62.45, it will indicate strength. The next level to watch on the upside is $65.561 and above it $69.2790.

Both the moving averages are sloping up, which shows that the bulls have the upper hand. Still, we continue to watch the negative divergence on the RSI closely.

If the LTC/USD pair reverses direction and plummets below the 20-day EMA, it can drop to the 50-day SMA. Therefore, we suggest traders keep the stop loss on the remaining long positions at $52.

EOS/USD

The bulls again bought the dip below the 20-day EMA, which indicates demand at lower levels. However, EOS is facing resistance close to $3.8723. The price is largely stuck between these two levels. We expect the digital currency to break out of the overhead resistance or break down of the 20-day EMA within the next few days.

On a breakdown below the 20-day EMA, the EOS/USD pair can slide to the 50-day SMA and below it to $3.1534. We anticipate a strong support around these levels, hence, we propose a stop loss of $3.10 on the remaining long positions.

Conversely, if the bulls push the price above $3.8723, a rally to $4.4930 is probable. The up-sloping moving averages and the RSI in the positive territory suggest that the path of least resistance is to the upside.

BCH/USD

Bitcoin Cash (BCH) has been trading close to the overhead resistance of $163.89 for the past three days. This shows that the bulls are in no hurry to book profits. The moving averages have started to slope up gradually and the RSI is close to the overbought zone. This shows that the bulls are in command.

A breakout and close above the BCH/USD pair will carry the price to $175 and above it to $220. Eventually, we expect the pair to reach the stiff overhead resistance of $239. Therefore, traders can keep the stop loss on their long positions at $116.

Contrary to our assumption, if the digital currency turns down from the current levels, it can correct to the 20-day EMA and below it to the 50-day SMA.

XLM/USD

Stellar (XLM) rallied to the resistance line on March 18 but could not break out of it. Profit booking has again pushed the digital currency back into the range. However, the 20-day EMA is sloping up and the RSI is close to the overbought zone. This suggests that the bulls are at an advantage.

If the XLM/USD pair breaks out of the resistance line, it can rally to $0.13250273 and above it to $0.14861760. We expect the 20-day EMA to act as a support on any dip.

Our bullish assumption will be negated if the pair plunges below the 20-day EMA and slides to the 50-day SMA. For now, traders can retain the stops on the long positions at $0.08. We shall soon trail it higher to $0.10.

BNB/USD

Binance Coin (BNB) has dipped below $15.9100517 and is retesting the support at $15. The small uptrend line also lies at this level and the 20-day EMA is just below it. We expect this support zone between $15 and the 20-day EMA to hold.

Both the moving averages are trending up and the RSI is close to the overbought zone. This suggests that the bulls are in command.

If the BNB/USD pair rebounds from the support zone, it will again attempt to break out of the overhead resistance and move towards its target objective of $18. On the other hand, a breakdown of the 20-day EMA can sink the price to the 50-day SMA. Traders can, therefore, keep the stop loss on the remaining long positions at $14.

TRX/USD

Tron (TRX) has been trading close to the 20-day EMA for the past six days. The small trading ranges suggest a balance between buyers and sellers. However, this is unlikely to continue for long. We should see an increase in volatility within the next few days.

A breakout of the 20-day EMA can carry the TRX/USD pair to the critical overhead resistance of $0.02815521. If the bulls break out and sustain above the range, the pair is likely to start a new uptrend.

On the other hand, if the digital currency turns down from the current levels, it can drop to $0.02094452 and if this level also breaks, the slide can stretch to $0.01830.

ADA/USD

Cardano (ADA) has again risen above the overhead resistance of $0.051468. This is the second time the bulls have scaled the resistance within four days. Now, if the price moves above $0.05650, it is likely to start a new uptrend.

The first target on the upside is $0.066121, above which the move can extend to $0.080. Therefore, traders can initiate long positions above $0.05650 and keep a stop loss at $0.044. We shall soon trail it to $0.048.

Our bullish view will be invalidated if the ADA/USD pair falls back into the $0.036815 to $0.051468 range. Such a move will extend the consolidation for a few more weeks.

Мarket data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Largest Swiss Online Retailer Digitec Galaxus Now Accepts Cryptocurrencies

Leading Swiss online retailer Digitec Galaxus has announced that it now accepts cryptocurrencies.

Leading Swiss online retailer Digitec Galaxus has announced that it will now accept cryptocurrencies, according to a press release published on March 19.

Per the announcement, the shop is now accepting Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), Tron (TRX), NEO (NEO) and OmiseGO (OMG) for purchases worth over CHF 200 (about $200). The release further claims that the shop hosts around 2.7 million products, ranging from wheat beer to gaming PCs.

The new payment method was reportedly jointly developed as part of a pilot project with Swiss payment processor Datatrans and in collaboration with Danish crypto payments startup Coinify. The system opens 15-minute-time windows for customers, during which the crypto exchange rate doesn’t change in order to make the payment with a fee of 1.5 percent.

As part of its move towards crypto, the company also added a crypto wallet category to ecommerce platform, accompanied by a dedicated guide, and released a blog post under the title “Diamonds or Gold Are Better Suited to Get Rid of Illicit Money.” In the latter post, the company’s chief innovation officer Oliver Herren admitted that he is not fully convinced of the advantages of blockchain over traditional database systems. Still, he concludes:

“But maybe I just haven’t invested enough time in fully understanding how the blockchain ecosystem works.”

Lastly, the company also released a blog post dedicated to its internal engineering team behind crypto integration. In the post, which is mostly an interview, the company explains on a high-level what blockchain is.

According to ecommerce data platform ecommerceDB, Digitec Galaxus’ net sales amounted to over $261 million in 2018 and the store, first launched in 2010, is the world’s 341st biggest online retailer.

Other large retailers internationally have also looked into the idea of adding crypto payments options on their platforms, with Overstock.com’s acceptance of Bitcoin payments as early as 2014 as a major example.

As Cointelegraph reported in April last year, Canadian online trading and barter platform Bunz Trading Zone is launching its own cryptocurrency.

Also, in February last year, Japan’s largest e-commerce company Rakuten, with a market capitalization of over $12.5 bln, announced its own plans to launch a cryptocurrency called Rakuten Coin.

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Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 18

Ethereum’s Joseph Lubin predicted this week that blockchain will make up more of the global economy in the coming decades.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Ethereum (ETH) co-founder Joseph Lubin expects the global economy to grow 10 times in the next 10 to 20 years, powered by the mass use of blockchain technology. According to him, the current condition of the nascent space is similar to the use of email in 1983, when only a handful of early adopters were using it.

Tyler and Cameron Winklevoss, founders of the Gemini crypto exchange, have welcomed Facebook’s rumored stablecoin. However, they said that cryptocurrencies will usher in a greater disruptive development compared to the social networking platforms.

Gradually, large traditional players in various fields are recognizing the power of blockchain technology and cryptocurrencies, partnering with various startups to gain the first mover advantage. Different nations are also not leaving any stone unturned to make the most of the budding technology.

These developments are positive for the future. Nevertheless, the price is yet to respond to improved fundamentals. What do the charts of the major cryptocurrencies project? Let’s find out.

BTC/USD

Though Bitcoin (BTC) has been rising above the psychological resistance of $4,000 for the past three days, it has not been able to sustain it. This shows profit booking at higher levels. If the price doesn’t close above $4,000 soon, we anticipate a mild correction to the 20-day EMA and below it to the uptrend line.

If the digital currency rebounds sharply from either of the supports and breaks out of $4,000, it will be a positive sign. It is then likely to rally to $4,255, which is a major hurdle. A close (UTC time frame) above $4,255 will complete a double bottom, which has a pattern target of $5,273.91.

Currently, both the moving averages are sloping up and the RSI is in the positive territory. Hence, the path of least resistance is to the upside.

BTC/USD

Our bullish view will be invalidated if the BTC/USD pair dips below the moving averages. On a fall below the 50-day SMA, the pair can drop to $3,355. Below this level, the final support is at $3,236.09. The downtrend will resume if the bears sink the price to a new yearly low.

Traders can retain the stop loss on the long positions below $3,236.09. We shall soon trail the stops higher to reduce the risk. We might suggest adding long positions on a close above $4,255.

ETH/USD

Ethereum (ETH) failed to sustain above $144.78 on March 16. This shows a lack of buying at higher levels. The price has again dipped back to the 20-day EMA, below which a fall to $134.50 is probable. Both the moving averages have started to slope up, which indicates a minor advantage to the bulls.

ETH/USD

A breakout and close above $144.78 can result in a move to the next overhead resistance of $167.32. If this level is also crossed, it will complete a bullish ascending triangle pattern that has a target objective of $251.64.

On the other hand, if the ETH/USD pair plunges below the moving averages, it can slide to the trendline of the ascending triangle pattern. Traders can keep the stops on the remaining long positions at $125.

XRP/USD

Ripple (XRP) has been trading close to the moving averages for the past few days. This period of consolidation is unlikely to continue for long. We expect a decisive breakout or a breakdown within the next few days.

XRP/USD

A breakout of $0.33108 will propel the XRP/USD pair to the resistance line of the descending channel. If the bulls succeed in pushing the price above the channel, we expect the pair to pick up momentum and start a new uptrend.

On the other hand, if the digital currency plunges below the uptrend line of the ascending triangle, it can drop to the next support at $0.27795. Below this level, a drop to $0.24508 is possible. Traders can protect their long positions with the stop loss just below $0.27795.

LTC/USD

Litecoin (LTC) broke above the resistance line on March 16, but it is facing profit booking at higher levels. If the price rebounds off $56.910, it will indicate strength and a rally to $65.561 is probable. Above this level, the up move can extend to $69.2790. Though the price has been moving up, the RSI has failed to catch up. This negative divergence on the RSI is worrying us. Traders can trail the stops on the remaining long positions to $52.

LTC/USD

We are not recommending booking complete profits at the current levels because, in a bull phase, the negative divergence on the RSI can often give a false signal. Notwithstanding, since it is a warning sign, we have proposed trailing the stops to protect the paper profits.

If the LTC/USD pair breaks down of the 20-day EMA, it can slide to the next support at $47.2460. The 50-day SMA is just below this level. A breakdown of this support will indicate weakness.

EOS/USD

EOS has been struggling to breakout of $3.8723, but is finding support close to the 20-day EMA. Both the moving averages are gradually trending up, and the RSI is in the positive territory, which shows that the bulls have a slight edge.

EOS/USD

If the EOS/USD pair sustains above $3.8723, it can move up to $4.4930. But if the pair turns down from the current levels and breaks below the 20-day EMA, a fall to $3.1534 is probable. Below this support, the trend will turn in favor of the bears. Therefore, traders can retain the stops on the remaining long positions at $3.1. We shall soon trail it higher.

BCH/USD

Bitcoin Cash (BCH) has quickly risen to the overhead resistance of $163.89. The attempt to breakout and sustain above it has failed. Still, with the 20-day EMA starting to slope up and the RSI in the overbought zone, the path of least resistance is to the upside. Above $163.89, it can rally to $175 and above it to $220.

BCH/USD

If the BCH/USD pair fails to scale above $163.89, it will again slide back to the 20-day EMA. The trend will turn negative if the bears sink the price below $120.46, and traders can retain the stop loss on the long positions at $116. We shall watch for a couple of days and then recommend trailing the stops higher.

BNB/USD

Binance Coin (BNB) broke out of the overhead resistance at $15.9100517 on March 16. We expected it to continue higher after breaking out of the resistance. However, the digital currency is stuck near the breakout levels for the past two days.

BNB/USD

A breakout of $16.6442826 can propel the BNB/USD pair to its target objective of $18. Both the moving averages are trending up and the RSI is in the overbought zone, which shows that the bulls have the upper hand.

However, if the price again slips back below $15.9100517, it will indicate profit booking at higher levels. The support on the downside is at the uptrend line and below it at 20-day EMA. If the 20-day EMA breaks down, the short-term trend will turn in favor of the bears. Therefore, please trail the stop loss on the remaining long positions to $14.

XLM/USD

Stellar (XLM) is consolidating near the recent swing high, which is a positive sign. The 20-day EMA is sloping upward and the RSI is close to the overbought zone, which suggests that the bulls are in command.

XLM/USD

On the upside, the XLM/USD pair has to breakout of the resistance line to pick up momentum. The targets are $0.13250273 and above it, $0.14861760.

Our bullish view will be invalidated if the price turns down from the current levels and slips below the 20-day EMA. In such a case, a fall to the uptrend line is probable. The traders can keep the stop loss on the long positions at $0.08.

TRX/USD

Though Tron (TRX) broke out of the 20-day EMA on March 16, it turned back from the 50-day SMA. The bulls could not keep up the buying pressure and it is currently struggling to hold the 20-day EMA.

TRX/USD

Both the moving averages are sloping down and the RSI has also slipped into the negative territory, which suggests that the bears have the upper hand. The TRX/USD pair will pick up momentum above $0.02815521. Until then, the bears are likely to sell on rallies.

On the downside, support lies at $0.02094452. If this level breaks, the next one to watch is $0.01830. We remain neutral on the digital currency until it breaks out and sustains above the range.

ADA/USD

Cardano (ADA) broke above the $0.036815 to $0.051468 range on March 16, but did not trigger our buy mark of $0.05650 suggested in the previous analysis. However, it has not given up much ground as is trying to hold above the previous resistance-turned-support of $0.51468. This is a positive sign, as it shows that the bulls are in no hurry to book profits.

ADA/USD

If the ADA/USD pair picks up strength and rallies above $0.05650, we expect it to reach $0.066121 and above it to $0.080. Therefore, we retain the buy suggested in the previous analysis.

Contrary to our assumption, if the price sustains below $0.051468, it can drop to the 20-day EMA, which should provide support. If this support breaks, the pair will extend its stay in the range.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Litecoin (LTC) Price Breaks $60, Can There Be More Upsides?

Litecoin price finally broke the
key $60.00 resistance area against the US dollar. LTC is currently consolidating
above $60.00 and it could continue to move higher.

Key Talking Points

  • Litecoin price climbed higher and broke the
    $58.00 and $60.00 resistances (Data feed of Kraken) against the US Dollar.
  • There was a break above a major contracting triangle
    with resistance at $60.55 on the hourly chart.
  • LTC price remains supported on dips near $60.00
    and it may rise above the $62.00 level.

Litecoin Price Analysis (LTC)

In the past few analysis, we discussed the chances of an upside break above $60.00 in litecoin price against the US Dollar. The LTC/USD pair did gain traction along with bitcoin, Ethereum, EOS and ripple to clear the $58.00 and $60.00 resistance levels.

Litecoin Price Analysis LTC Chart

Looking at the chart, LTC price even
broke the $61.00 level and settled well above the 100 hourly simple moving
average. A new monthly high was formed near $62.04 and later the price
corrected lower. It declined below the $61.00 level to start a short term
correction.

There was a break below the 23.6% Fib retracement level of
the last wave from the $55.73 low to $62.04 high. However, the $59.00 level
(the previous resistance) acted as a support and protected more losses.

The price also found support near the 50% Fib retracement
level of the last wave from the $55.73 low to $62.04 high. Finally, there was a
fresh upside break above the $60.00 and $60.50 levels.

There was also a break above a major contracting triangle with
resistance at $60.55 on the hourly chart. It opened the doors for more gains,
but the price once again failed near the $62.00 level. In the short term, there
could be a few swing moves above $60.00 before the price makes the next move.

Litecoin price will most likely extend gains above the
$62.00 level. The next key resistance levels are $64.00 and $65.00. However, if
there is a downside break below $60.00, LTC price may revisit the $58.50
support and the 100 hourly SMA.

The market data is provided by TradingView.

The post Litecoin (LTC) Price Breaks $60, Can There Be More Upsides? appeared first on Ethereum World News.

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Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 15

Some experts are predicting another Bitcoin rally in August once fundamentals have improved.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

In a recent interview, United States Securities and Exchanges Commission (SEC) Chairman Jay Clayton said that he is concerned about manipulation and custody services in the crypto space. If these issues are addressed and if any Bitcoin ETF satisfies their rules, it might stand a chance of getting the green light.

While crypto markets are speculating on the probability of a Bitcoin ETF, the Chicago Board Options Exchange (CBOE), has announced that it will not be offering any new Bitcoin futures contracts in March. This is likely to benefit its competitor CME, which will continue to provide the traders with an opportunity to trade in Bitcoin futures.

Fundstrat Global Advisors founder Tom Lee believes that the fundamentals of Bitcoin are improving. He expects a turnaround by August of this year. On the way up, he anticipates $6,000 to act as a major resistance.

Let’s see what our analysis projects.  

BTC/USD

Bitcoin (BTC) is trying to bounce off the 20-day EMA and rise above the psychological resistance of $4,000. Both the moving averages are gradually sloping up and the 20-day EMA has held in the past few days, which shows buying at lower levels. We expect the digital currency to pick up momentum above $4,000 and quickly rally to $4,255. If the bulls scale this level, it will complete a double bottom pattern that has a target objective of $5,273.91.

BTC/USD

On the contrary, if the BTC/USD pair again turns down from $4,000 and breaks below the uptrend line and the 50-day SMA, it will indicate profit booking and aggressive short initiation at higher levels.

The critical zone to watch on the downside is $3,355–$3,236.09. A breakdown of this zone will be very negative. The downtrend will resume if the digital currency plunges to a new 52-week low. Therefore, traders can keep the stop loss on the existing long positions below $3,236.09. We will soon trail the stops higher.

ETH/USD

Ethereum (ETH) has successfully held the support at $134.50. The bulls are trying to push the price towards $144.78. Both the moving averages are flat and the RSI is also close to the center. This suggests equilibrium between buyers and sellers.

ETH/USD

If the ETH/USD pair picks up momentum and breaks out of $144.78, it can rally to the critical overhead resistance of $167.32. Above this level, the ascending triangle completes that has a pattern target of $251.64.

The trend will weaken if the digital currency drops below 50-day SMA. The next support on the downside is $116.30. The uptrend line of the ascending triangle is also at this level; hence, we expect this to hold. A break below the uptrend line will invalidate the bullish pattern, which is a negative sign. Traders can protect the remaining long positions with stops at $125.

XRP/USD

Ripple (XRP) has been clinging to the uptrend line of the developing ascending triangle for the past few days. Both the moving averages are flat and the RSI is at the midpoint, which points to a balance between demand and supply.

XRP/USD

If the XRP/USD pair slips below the uptrend line, it can drop to the support at $0.27795. A breakdown of this level can retest the yearly low at $0.24508. Therefore, traders holding long positions can keep the stop loss just below $0.27795.

On the other hand, if the pair spurts higher from the current levels and rises above $0.33108, it can move up to the resistance line of the descending channel. A breakout of the channel will indicate a likely change in trend.

LTC/USD

Litecoin (LTC) again took support close to the 20-day EMA on March 14. Currently, the bulls have pushed the price above the overhead resistance of $56.910, which is a bullish sign. The next resistance on the upside is $59.4494. If the bulls succeed in scaling this level, we anticipate a rally to $65.5610 and above it to $69.2790.

LTC/USD

While the up-trending moving averages are bullish, the negative divergence on the RSI is worrying us. If the RSI breaks out of the resistance line, it will be another positive sign.

Our bullish view will be invalidated if the LTC/USD pair breaks down of the 20-day EMA and drops to $47.2460. Traders can retain the stops on the remaining long positions at $50.

EOS/USD

EOS has been holding above the 20-day EMA for the past four days. Repeated attempts by the bears to sink the price below this level have failed, which shows buying at lower levels.

EOS/USD

Both the moving averages are gradually moving higher and the RSI has also turned up. We expect the bulls to make another attempt to scale above the overhead resistance of $3.8723 and rally towards $4.4930.

However, if the EOS/USD pair turns down from current levels and slips below the 20-day EMA, it will correct to $3.1534. The 50-day SMA is also at this level, hence, we expect this support to hold. But if the bears sink the pair below the 50-day SMA, it can correct to $2.1733. Therefore, traders can keep their stops on the remaining long positions at $3.10.

BCH/USD

Bitcoin Cash (BCH) is currently attempting to sustain above the $120–$140 range. The strong bounce from the 50-day SMA increases the probability of a breakout and close (UTC time frame) above $140. Following the breakout, the move can extend to the next overhead zone of $157.95 to $163.89. As the digital currency has a history of vertical rallies, traders can trail their stops higher instead of booking profits at the above-mentioned levels. If the momentum picks up, the rally can reach $186.30 and above it $239.

BCH/USD

However, if the BCH/USD pair reverses direction from the current level, it will prolong its stay in the range for a few more days. It will turn negative on a breakdown of the range at $120. The next level to watch on the downside is $105. For now, traders can keep the stops on the long positions at $116.

BNB/USD

Binance Coin (BNB) has been consolidating close to the overhead resistance of $15.9100517 for the past three days. It has not given up much ground, which suggests that the bulls are in no hurry to book profits on their positions.

BNB/USD

The trend remains firmly up as both the moving averages are sloping up and the RSI is in the overbought territory. This increases the possibility of an upward breakout that can carry the BNB/USD pair to $18. Therefore, traders can retain the stops on the remaining long positions at breakeven. We shall suggest trailing the stops higher next week.

Our bullish assumption will prove to be wrong if the pair reverses direction from the current levels and breaks below the 20-day EMA. The next support on the downside is the 50-day SMA.

XLM/USD

Stellar (XLM) has been crawling higher for the past few days but is struggling to breakout of the resistance line. A breakout of the resistance line will propel it towards $0.13427050. With the 20-day EMA sloping up and the RSI close to the overbought level, the path of least resistance is to the upside. Traders can protect their long positions with a stop loss of $0.08.

XLM/USD

Contrary to our assumption, if the XLM/USD pair fails to breakout of the resistance line, it can slide to the 20-day EMA and below it to the uptrend line. A breakdown of the uptrend line will indicate that the bears are back in the driver’s seat and a retest of the low is probable.

TRX/USD

Though Tron (TRX) has been trading below the 20-day EMA for the past few days, the bears have not been able to sink it below $0.02094452. This suggests buying at lower levels.

TRX/USD

As the TRX/USD pair has held up close to the 20-day EMA for the past few days, we expect the bulls to make another attempt to push prices higher. On the way up, after crossing 20-day EMA, the 50-day SMA will act as the first resistance. The final hurdle is $0.02815521, above which, we expect a new uptrend to start. We shall suggest initiating long positions after the pair sustains above the range.

But if the digital currency turns down from the current levels and slides below $0.02094452, it can drop to $0.01830. This is an important support. If this breaks down, a retest of the lows is probable. We do not see a reliable trade set up as long as the virtual currency is stuck inside the range.

ADA/USD

Cardano (ADA) continues to be range bound between $0.036815 and $0.051468. It has reached the top of the range, from where it had returned thrice in the past. The bulls will attempt to scale above this while the bears will try to defend it.

ADA/USD

As the 20-day EMA is trending up and the RSI has sustained in positive territory, we anticipate a breakout this time. The minimum target objective following the breakout is $0.066121 and if it is crossed, the next level to watch is $0.080. Therefore, the traders can buy above $0.0565 and keep a stop loss at $0.044 for now. We shall soon trail the stops higher.

Our bullish view will be invalidated if the ADA/USD pair turns down from the current levels. In such a case, the range bound action will continue for a few more days. The pair will turn negative on a breakdown and close (UTC time frame) below the range.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Litecoin (LTC) Price Remains In Uptrend, Eyes Gains Above $60

Litecoin price corrected lower recently,
but it found support near $52.00 against the US dollar. LTC remains in an
uptrend and it could slowly rise towards $58.00 and $60.00.

Key Talking Points

  • Litecoin price is trading nicely above the
    $54.00 and $52.00 support levels (Data feed of Kraken) against the US Dollar.
  • There is a short term breakout pattern in place
    with resistance at $56.50 on the hourly chart.
  • LTC price might dip a few points, but it is
    likely to climb towards $58.00 or $60.00.

Litecoin Price Analysis (LTC)

In the past few sessions, there were range moves in bitcoin, Ethereum, EOS, ripple, litecoin, BNB and other cryptocurrencies against the US dollar. The LTC/USD pair dipped a few points earlier this week, but it found support near the $52.00 level.

Litecoin Price Analysis LTC Chart

Looking at the chart, LTC price traded
as low as $52.12 and later bounced back above the $54.00 resistance level. The
price even broke the $55.00 level and the 100 hourly simple moving average.

A high was formed at $56.61 and later the corrected a few
points. It declined below the 23.6% Fib retracement level of the last wave from
the $52.12 low to $56.61 high. However, it remained above the $54.00 support level.

Moreover, the 50% Fib retracement level of the last wave
from the $52.12 low to $56.61 high acted as a decent support. At the outset,
there is a short term breakout pattern in place with resistance at $56.50 on
the hourly chart.

Therefore, the price seems to be preparing for the next
break either above $56.50 or below $55.50. An upside break above the $56.50 level
may open the doors for an acceleration towards the $58.00 and $60.00 resistance
levels.

On the other hand, if there is a bearish reaction, litecoin
price is likely to find a strong support near the $54.00 level. The next key
support is at $53.60, below which LTC could revisit the $52.00 support. Overall,
the price may dip a few points, but it remains supported above the $52.00 level.

The market data is provided by TradingView.

The post Litecoin (LTC) Price Remains In Uptrend, Eyes Gains Above $60 appeared first on Ethereum World News.

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Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Cardano: Price Analysis, March 13

Numerous companies have been moving ahead with blockchain and crypto projects, showing interest from traditional players.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Barclays internet analyst Ross Sandler believes that a cryptocurrency by Facebook could add $19 billion to its revenue by 2021. If that happens, it will help expand the reach of cryptocurrencies and will be a major sentiment booster for the whole sector.

Overstock.com’s blockchain subsidiary, Medici Ventures has purchased a 5.1 percent stake in the blockchain banking platform Bankorus. The firm has purchased significant stakes in various blockchain companies.

It is not only in the West that crypto is generating significant interest. Chinese cryptocurrency mining manufacturer Canaan Creative is rumored to have secured hundreds of millions of dollars of financing from unnamed parties.  

We find numerous companies that have been moving ahead with blockchain– and crypto-related projects. This shows that the sector is generating huge interest from traditional players. It is only a matter of time before the price of cryptocurrencies starts to react to all these positive fundamental developments.

However, analysts at Bloomberg expect Bitcoin to head southward. They have observed that the price action is similar to November of last year, which had led to a sharp fall. But what do our charts forecast? Let’s find out.

BTC/USD

The bulls are providing support to Bitcoin (BTC) at the 20-day EMA. Both the moving averages are gradually moving up and the RSI is in the positive zone. This shows that bulls have a slight advantage. However, in order to solidify their position, they should quickly carry the digital currency above $4,000.

We expect a new uptrend on a breakout and close above $4,255, as it will complete a double bottom pattern that has a target objective of $5,273.91. Traders can add to their long positions on a close (UTC time frame) above $4,255.

BTC/USD

On the downside, the BTC/USD pair has support at the 20-day EMA. If this breaks, the next support is at the uptrend line and finally at the 50-day SMA. If the pair plummets below the 50-day SMA, it can drop to the final support zone of $3,355–$3,236.09. This is the last support, below which, the downtrend will resume. Therefore, traders can maintain their stops on the existing long positions below $3,236.09. We shall raise the stop loss before the end of this week.

ETH/USD

The bulls are struggling to keep Ethereum (ETH) above $134.50. Though they purchased the dip to the 50-day SMA on March 12, they have not been able to sustain above the 20-day EMA. Currently, both the moving averages are flattening out and the RSI is close to the midpoint. This suggests a consolidation in the near term.

ETH/USD

A breakdown of the 50-day SMA can sink the ETH/USD pair to the next support at $116.30. This is a major support, as the uptrend line of the ascending channel also lies at this level. Hence, we anticipate buyers to step in and buy close to $116.30. But if the pair breaks down of this critical support, a drop to $102.49 is probable.

Conversely, if the bulls scale above $144.78, the up move can reach $167.32. The ascending triangle pattern will complete on a breakout and close above $167.32. This has a pattern target of $251.64. Traders can keep the stops on the remaining long positions at $125.

XRP/USD

The intraday range in Ripple (XRP) had been shrinking for the past few days. The attempt by the bulls to resolve the tight range on the upside is not finding buyers at higher levels. This is a bearish sign. A breakdown of the uptrend line can sink the virtual currency to the next support at $0.27795. If this level also breaks down, the final support is the yearly low of $0.24508, below which the downtrend will resume.

XRP/USD

However, as long as the XRP/USD pair stays above the uptrend line of the ascending triangle, the bulls are likely to attempt to scale above $0.33108 once again. On a close (UTC time frame) above $0.33108, the pair is likely to pick up momentum and rally to the downtrend line of the descending channel. A breakout of the channel will indicate a likely change in trend. For now, traders can keep the stop loss on the long positions below $0.27795.

LTC/USD

Litecoin (LTC) found support close to the 20-day EMA on March 12, but the bulls have not been able to breakout of the overhead resistance at $56.910. However, both the moving averages are sloping up and the RSI is in positive territory, which suggests that the bulls have the upper hand. A breakout and close (UTC time frame) above the overhead resistance zone of $56.910–$59.4494 can propel the digital currency to $65.5610 and above it to $69.2790.

LTC/USD

Contrary to our assumption, if the LTC/USD pair breaks down of the 20-day EMA, it will weaken the momentum and a fall to $47.2460 is probable. Therefore, traders can protect their gains on the remaining long positions with the stop at $50. The only thing bearish on the chart is the negative divergence on the RSI.

EOS/USD

EOS has failed to cross above the downtrend line for the past four days. However, a positive is that it has not yet broken down of the 20-day EMA. If the digital currency breaks out of the downtrend line and $3.8723, it can pick up momentum and rally to $4.4930.

EOS/USD

On the other hand, if the bears sink the EOS/USD pair below the 20-day EMA, it can fall to the next support at $3.1534. The 50-day SMA is also located at this level, hence, we expect strong demand at this level. But if the seller’s break down of this critical support, it will re-enter the range and can slide to $2.1733. Hence, traders can protect their remaining long positions with the stops at $3.10.

BCH/USD

Bitcoin Cash (BCH) had dipped closer to the bottom of the $120–$140 range on March 12, where buying emerged. However, the bulls have not been able to push the price above the moving averages, which shows a lack of demand at higher levels. The bears are likely to attempt to breakdown of $120 level once again. If successful the digital currency can fall to $105, which is a strong support. But if this support gives way, a retest of the yearly low of $73.50 is probable.

BCH/USD

Conversely, if the BCH/USD pair rises above the moving averages, the bulls will attempt to breakout of $140 and rally to the next overhead zone of $157.95–$163.89. Above this zone, the next level to watch on the upside is $175. For now, traders can retain the stops on the long positions at $116.

BNB/USD

Binance Coin (BNB) broke out of the pennant on March 12 but is currently facing resistance at $15.9100517. Both the moving averages continue to trend up and the RSI is in the overbought zone, which shows a strong uptrend.

BNB/USD

A breakout of $15.9100517 can propel the BNB/USD pair to $18, above which a retest of the lifetime highs is possible. On the other hand, if the pair turns down from current levels, it has support closer to $14, below which a drop to the 20-day EMA is possible. As the traders have already booked partial profits earlier, we suggest to retain the stops on the remaining long positions at the breakeven. If the cryptocurrency does not sustain above $15.9100517  within the next couple of days, we shall suggest booking profits on the complete position.

XLM/USD

Stellar (XLM) has been consolidating for the past two days. We like that it has not given up much ground. The 20-day EMA is sloping up and the RSI is close to the overbought levels. This suggests that the bulls are at an advantage. A breakout of $0.011245806 can propel the digital currency to $0.13427050.

XLM/USD

Conversely, if the XLM/USD pair turns down from current levels, it can drop to the 20-day EMA, which is a critical support. If this support breaks, the pair can correct to the uptrend line. This line has provided support three times, hence, we expect the price to find buyers close to it. However, if the bears break down of the uptrend line, a retest of the yearly lows is possible. Therefore, traders can maintain the stops on the long positions at $0.08.

TRX/USD

Tron (TRX) has been sustaining below $0.02306493 for the past two days. This shows a lack of demand at lower levels. The 20-day EMA is sloping down and the RSI is languishing in the negative zone, which suggests that the path of least resistance is to the downside.

TRX/USD

The TRX/USD pair has support at $0.02094452, below which the slide can extend to the critical support of $0.01830. We expect the bulls to defend $0.01830, hence, we might suggest a long position if the pair bounces off this support.

Our bearish view will be invalidated if the price bounces off the current levels and rises above the moving averages. We shall suggest a long position if the digital currency sustains above $0.02815521. Until then, we remain neutral.

ADA/USD

Cardano (ADA) has been range bound between $0.036815 and $0.051468 since Dec. 21. The price has bounced off the supports twice, which shows buying at lower levels. However, the bulls have not been able to break out of the range, which shows profit booking closer to the resistance of the range.

ADA/USD

The 20-day EMA is sloping up and the RSI has also moved into positive territory. This shows that the bulls have the upper hand in the short term. A breakout and close (UTC time frame) above $0.051468 is likely to result in a new up move that can carry the price to $0.066121 and if this is crossed, the rally can extend to $0.080.

The traders can purchase the ADA/USD pair above $0.0565 and keep a stop loss at $0.044 for now. We shall trail the stop loss higher as the price moves up in our favor or if it fails to follow up after breaking out of the range.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Bitcoin SV: Price Analysis, March 11

Industry experts are forecasting wider adoption of cryptocurrencies and the emergence of another bull market.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Binance CEO Changpeng Zhao recently tweeted that sooner or later, almost everyone will be directly or indirectly connected to cryptocurrencies. This is a strong statement. If proven correct, the market capitalization of the digital currencies will shoot up, well above the current level of $133 billion.

Zhao said that he is certain of a bull market in cryptocurrencies, but is not sure when it will start. We believe that most major coins have started the bottoming process and will soon start a new uptrend.

The successful completion of a recent ICO by the crypto unit of South Korea’s largest internet conglomerate Kakao Corp shows that the demand for ICOs is gradually returning. Similarly, Binance had also completed a couple of ICOs in record time and is planning to introduce more tokens that have solid use cases.

Investment management company Invesco has launched a blockchain exchange-traded fund (ETF) on the London Stock Exchange (LSEG) that will track 48 companies involved with blockchain technology.

After launching the world’s first multi-crypto-based exchange-traded product (ETP) in November of last year, Switzerland’s largest stock exchange SIX will launch another ETP for the XRP token. These new launches show that the demand for the cryptocurrencies is likely to increase in the future and the companies are gearing up to benefit from it. So, what should traders do? Let’s take a look at the charts.

BTC/USD

The up move in Bitcoin (BTC) is not convincing. It could not even challenge the psychological resistance of $4,000 on March 9. This shows a lack of conviction among the bulls. Currently, the price has pulled back to the 20-day EMA, which is an important support. If the bulls want to retain the advantage, they should defend the 20-day EMA. A bounce from this support will again try to break out of $4,000 and reach the critical overhead resistance of $4,255.

BTC/USD

If the BTC/USD pair sustains above $4,255, it will complete a double bottom pattern, that has a target objective of $5,273.91. Traders can add long positions on a breakout and close (UTC time frame) above $4,255. Until then, maintain the stops on the existing long positions below $3,236.09.  

On the downside, there is support at the 20-day EMA and below it at the uptrend line. If this support also cracks, the next one is at the 50-day SMA. Below this support, we anticipate a quick slide to the final support zone of $3,355–$3,236.09. The lackluster price action points to range bound action in the short-term. We will know the boundaries of the range within the next few days.

ETH/USD

Ethereum (ETH) has broken down of the 20-day EMA. If it fails to find support at $134.50, a slide to the 50-day SMA is probable. Below this, the digital currency can correct to the critical support at $116.30. Therefore, traders can keep the stop loss on the remaining long positions at $125.

ETH/USD

If the ETH/USD pair bounces off $134.50 or the 50-day SMA, it will again try to break out of $144.78. The pair is likely to pick up momentum after the price sustains above $144.78.

However, with both the moving averages flattening out and the RSI close to the center, the short term points to a consolidation. The resistance of the probable range is at $144.78 but the support is yet to be established. We should get a clear picture within this week.

XRP/USD

Ripple (XRP) is range bound between $0.27795– $0.33108. The flat moving averages and the RSI close to 50 suggest that the consolidation is likely to continue for a few more days.

XRP/USD

A breakout of the range will propel the XRP/USD pair toward the resistance line of the descending channel. If the price sustains above the channel, it will indicate a likely change in trend.

However, if the bears sink the digital currency below $0.27795, it can drop to the yearly low of $0.24508. Therefore, traders can retain the stops on their long positions below $0.27795.

LTC/USD

Litecoin (LTC) again broke out of $56.910 on March 9, but the bulls could not build up on the gains. Once again, the price has corrected back below $56.910, which is a negative sign.

LTC/USD

The bears will try to sink the LTC/USD pair to the 20-day EMA, which is a critical support. If the pair bounces off this support, it will again try to break out of $60. The target to watch on the upside is $65.5610. The uptrending moving averages and the RSI in the positive territory show that the path of least resistance is to the upside.

However, the negative divergence developing on the RSI is worrying us. Hence, we suggest traders keep their stops on the remaining long positions at $50. If the bears force the digital currency below the 20-day EMA, it can slide to $47.2460 and below it to the 50-day SMA.

EOS/USD

EOS has turned down from the overhead resistance of $3.8723. The failure of the bulls to scale above $3.8723 is a negative sign. Currently, the price has corrected to the 20-day EMA. If the support holds, the bulls will attempt to push the digital currency above $3.8723 once again.

EOS/USD

Nonetheless, if the 20-day EMA breaks down, the EOS/USD pair can drop to the next support of $3.1534. The 50-day SMA is also close to this level, hence, we expect the bulls to defend it.

A failure to bounce off the support at the 50-day SMA can result in a fall to $2.1733. Therefore, traders can keep the stops on the remaining long positions at $3.10.

BCH/USD

Bitcoin Cash (BCH) continues to trade inside the tight range of $120–$140. This shows a balance between demand and supply. The flat moving averages and the RSI close to the center point to further consolidation.

BCH/USD

A breakout or breakdown of this range will start a new trend in the BCH/USD pair. Above $140, a rally to the next overhead zone of $157.95 to $163.89 is likely. If this zone is also crossed, the up move can extend to $175. Therefore, traders can maintain the stops on the long positions at $116. If the bears sink the pair below $120, it can decline to $105 and below that a fall to the yearly low of $73.50 is probable.

BNB/USD

Binance Coin (BNB) has been consolidating since breaking out of $15 on March 7. We had suggested to book profits on 40 percent of the long positions in our previous analysis. Traders got that opportunity on March 8 and 9 when price scaled well above $15.

BNB/USD

After the sharp rally from the bottom, the BNB/USD pair has formed a pennant. A breakout of this is likely to resume the uptrend, with targets of $18 and higher. Therefore, traders can hold the remaining long positions with the stop loss at breakeven.

A breakdown below the pennant will start a deeper correction. Though the pattern target of the breakdown is $9, we anticipate a strong support at the 20-day EMA. But if this level fails to hold, a fall to the 50-day SMA is probable.

XLM/USD

Stellar (XLM) triggered our buy recommended given in the previous analysis. It should now move up to the next overhead resistance of $0.13427050.

XLM/USD

The moving averages have completed a bullish crossover, which is a bullish sign. The 20-day EMA has started to trend up and the RSI has risen close to the overbought territory. This shows that the bulls have the advantage in the near term. The XLM/USD pair might face some resistance at $0.1160, but we expect this to be crossed.

Our bullish view will be negated if the price turns down from one of the overhead resistances and plummets below $0.0820. Therefore, traders can keep the stop loss at $0.08. We shall soon raise the stops as the price moves northwards.

TRX/USD

Tron (TRX) is struggling to bounce off the critical support at $0.02306493. This shows a lack of buyers even at these levels. The 20-day EMA is sloping down and the RSI is languishing in the negative zone, which suggests that bears are in command.

TRX/USD

A breakdown below $0.02306493 will find some support at $0.02094452. But if this level also breaks, the slide can deepen to $0.01830, which is a critical support.

On the other hand, if the TRX/USD pair recovers sharply from the current levels and rises above both the moving averages, it will again try to breakout of $0.02815521. We might propose long positions after the pair decisively breaks out of the current range. Until then, we remain neutral on the digital currency.

BSV/USD

Bitcoin SV has been consolidating between $71.412 and $65.031 for the past five days. Both the moving averages have flattened out and the RSI is also close to the midpoint. This shows a balance between the bulls and the bears.

BSV/USD

The next move in the BSV/USD pair will start after the price escapes from this range. Above $71.412, a rally to $102.580 is probable with a minor resistance at $77.035. Hence, we retain the buy recommendation given in the previous analysis.

On the contrary, if the pair dips below the support zone of $65.031–$58, it can retest the low at $38.528. Therefore, traders should wait for a confirmed breakout and then initiate long positions.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.