Category: Litecoin

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Crypto News Fantom Litecoin Market Analysis The Sandbox Trading

Top 3 Coins to Watch Today: LTC, FTM, SAND – August 11 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 22nd cryptocurrency globally and the current price is US$62.03. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last month, LTC kicked off a with recovery trend to break the weekly highs. The following 70% plummet found support near $44.36, sweeping under the 40 EMA into the 65.8% retracement level before bouncing to resistance beginning at $65.73.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $69.12, where aggressive bulls might begin bidding. The level near $76.18, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $82.13. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $56.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $48.65 may also give support and see the start of a new bullish cycle after retesting these support levels.

2. Fantom (FTM)

Fantom FTM is a directed acyclic graph (DAG) smart contract platform providing decentralised finance (DeFi) services to developers using its own bespoke consensus algorithm. Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms – specifically transaction speed, which developers say they have reduced to under two seconds.

FTM Price Analysis

At the time of writing, FTM is ranked the 53rd cryptocurrency globally and the current price is US$0.4118. Let’s take a look at the chart below for price analysis:

Source: TradingView

FTM‘s bounce during Q2 ran into resistance near the old monthly highs. This rejection created a set of relatively equal highs near $0.5067, possibly forming the next bullish leg’s target.

Currently, the price is testing possible support near the weekly open, around $0.3865. This level also has confluence with the 80.6% retracement of the current local range and the 18 and 40 EMAs. 

If this level fails to provide support, a zone from $0.3574 to $0.3320 might mark a possible swing low or consolidation area. This zone is between the 65.8% and 78.6% retracement of August 2021’s swing.

A more bearish tone in the market could propel the price lower. The lows, near $0.3070, may mark an area of possible support as well as a bearish target.

3. The Sandbox (SAND)

The Sandbox SAND is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralised autonomous organisations (DAOs) and non-fungible tokens (NFTs), the Sandbox creates a decentralised platform for a thriving gaming community. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.

SAND Price Analysis

At the time of writing, SAND is ranked the 37th cryptocurrency globally and the current price is US$1.34. Let’s take a look at the chart below for price analysis:

Source: TradingView

SAND‘s impressive gains during Q1 halted at $3.00 before retracing 85% of the move. This price action created several areas of possible higher-timeframe resistance in the process.

The price found resistance on its last swing upward near $1.40 – an area that could provide resistance again. If this swing high breaks, the price may find resistance near $1.58. If this area does provide resistance, it would suggest the formation of a higher-timeframe consolidation.

The fast move up left little higher-timeframe support. However, a vast zone between $1.28 and $1.24 has provided support before and could give support again on a retest. This zone is between the 71.8%-to-88.6% retracement levels of 2021 Q4’s parabolic move.

Continuation downward through this level, especially if the overall market remains bearish, could retrace most of Q2’s move to the next higher-timeframe support near $1.10.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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Axie Infinity Binance Crypto News Litecoin Market Analysis Trading

Top 3 Coins to Watch Today: BNB, LTC, AXS – July 25 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Binance Coin (BNB)

Binance BNB is the biggest cryptocurrency exchange globally, based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of world financial activity. Aside from being the largest cryptocurrency exchange, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. Binance Coin is an integral part of the successful functioning of many of the Binance sub-projects.

BNB Price Analysis

At the time of writing, BNB is ranked the 5th cryptocurrency globally and the current price is US$263.18. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 55% decline from Q2, BNB has ranged between $198 and $270. The recent price recovery was approaching probable resistance near $296 but could be aiming for stops above the relatively equal highs near $326. Continuation of the trend could target the daily gap near $354.

Aggressive bulls might add to positions near $260 and $254. Price action near $240 – if it gets there – may be more likely to provide support during any retracements.

Relatively equal lows clustered around $235 seem likely to be swept if the bearish trend resumes. If this move occurs, the price might find support at the significant higher-timeframe level near $219.

2. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 20th cryptocurrency globally and the current price is US$58.90. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, LTC kicked off a with recovery trend to break the weekly highs. The following 75% plummet found support near $42.36, sweeping under the 40 EMA into the 63.8% retracement level before bouncing to resistance beginning at $60.73.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $64.12, where aggressive bulls might begin bidding. The level near $70.18, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $78.13. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $50.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $43.65 may also give support and see the start of a new bullish cycle after retesting these support levels.

3. Axie Infinity (AXS)

Axie Infinity AXS is a blockchain-based trading and battling game that is partially owned and operated by its players. The Axie Infinity ecosystem has its own unique governance token, known as Axie Infinity Shards AXS. These are used to participate in key governance votes and give holders a say in how funds in the Axie Community Treasury are spent.

AXS Price Analysis

At the time of writing, AXS is ranked the 39th cryptocurrency globally and the current price is US$17.30. Let’s take a look at the chart below for price analysis:

Source: TradingView

AXS‘s relatively small 23% range could suggest that a recovery is setting up in July.

Aggressive bulls could look for entries at the most recent area of support formed near $15.34. However, equal lows near $14.32 make a tempting target for a stop run into this support. This move could reach support near $12.90. 

A decisive move to the downside could run stops below the second set of relatively equal lows near $11.80, possibly reaching support at an old swing high and a daily gap near $11.00.

A recent level near $19.84 provided resistance and caused a swing high to form near $21.88, offering first targets. A move through this high may arrive at new monthly high levels near $23.40 and $25.13.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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Avalanche Crypto News Litecoin Market Analysis Ripple Trading

Top 3 Coins to Watch Today: LTC, AVAX, XRP – June 17 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 18th cryptocurrency globally and the current price is US$45.81. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, LTC kicked off a with recovery trend to break the weekly highs.

The following 70% plummet found support near $40.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $52.73.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $60.12, where aggressive bulls might begin bidding. The level near $69.18, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $75.13. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $40.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $37.23 may also give support and see the start of a new bullish cycle after retesting these support levels.

2. Avalanche (AVAX)

Avalanche AVAX is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is also low-cost, and green. Any smart contract-enabled application can outperform its competition on Avalanche. AVAX is the native token of Avalanche. It is a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche.

AVAX Price Analysis

At the time of writing, AVAX is ranked the 16th cryptocurrency globally and the current price is US$16.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s gains in Q2 ended with an almost 71% retracement as the rest of the altcoin market dropped from early this month. Bulls stepped in near the 62.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $34.35.

With the 9, 18 and 40 EMAs stacked bullish and a bullish higher-timeframe trend, it’s reasonable to anticipate retracement to possible support before further bullish expansion. 

Near the 40 EMA, a broad zone from $19.15 to $17.45 could see interest from bulls before further expansion. Bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 75% retracement, at $16.70, and potentially lower to a higher-timeframe support zone between $14.42 and $13.80.

If the higher-timeframe recovery trend resumes and the current resistance near $22.35 breaks, the wicks near $26.84 and the new monthly highs may see profit-taking.

3. Ripple (XRP)

Ripple XRP is the currency that runs on a digital payment platform called RippleNet, on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and not based on a blockchain, but rather the aforementioned distributed ledger database.

XRP Price Analysis

At the time of writing, XRP is ranked the 8th cryptocurrency globally and the current price is US$0.3199. Let’s take a look at the chart below for price analysis:

Source: TradingView

XRP printed some gains during Q1 and Q2 after moving sideways for the past few weeks. The price is in a downtrend, with the 9, 18 and 40 EMAs providing resistance on each attempt to rally.

However, bulls are showing some interest at the 80.6% retracement, near $0.3472. If this level breaks, a move into possible support – just below the lows near $0.2952 – seems likely.

If the price does rally through the swing high at $0.3855 – perhaps triggered by a sudden surge in Bitcoin – bulls might find some resistance at the 61.8% retracement level near $0.4150. 

Overlapping swing highs and lows near $0.4526 might provide the next target, where bears immediately forced the price down in late December.

More bullish market conditions could shift targets up near the midpoint of Q1’s consolidation, near $0.5017, where higher timeframes show an inefficiently traded zone.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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Bitcoin Dogecoin Ethereum Fashion Litecoin Metaverse NFTs Payments Shiba Inu

Gucci to Begin Accepting Bitcoin in Some Stores

Luxury high-end international fashion brand Gucci is set to accept various cryptocurrencies including Bitcoin, Ether, and even Dogecoin in some of its stores in North America.

Gucci will start accepting cryptos in five of its stores across the US later this month. The locations are New York City (Wooster Street), Los Angeles (Rodeo Drive), Miami (Design District), Atlanta (Phipps Plaza), and Las Vegas (The Shops at Crystals).

The stores will accept include Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Dogecoin, Shiba Inu, and five stablecoins that are pegged to the US dollar.

Crypto Provides an ‘Enhanced Customer Experience’

According to Marco Bizzarri, president and CEO of Gucci, the brand is “always looking to embrace new technologies when they can provide an enhanced experience for our customers”. He added:

Now that we are able to integrate cryptocurrencies within our payment system, it is a natural evolution for those customers who would like to have this option available to them.

Marco Bizzarri, president and CEO, Gucci

Gucci has been active in the Web3 and NFT space and recently established a Web3-focused team and released a couple of NFTs. The brand is also extending its crypto efforts to the metaverse where it is developing digital real estate in the decentralised blockchain game The Sandbox. Further, Gucci is building a virtual “Gucci Vault” for Gucci-themed NFTs.

More and More Companies Accept Crypto Payments

Gucci joins a raft of companies that accept crypto as payment. Last year, Crypto News Australia reported that a real estate company in Los Angeles would allow its tenants to rent properties with Bitcoin, starting with the Grove shopping centre and other LA properties.

Many companies in Australia are also accepting cryptocurrencies as payments. You can now order a custom-built PC, buy dog food, design a custom home, get solar power and pay for almost everything in Bitcoin.

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Algorand Alpha Finance Lab Crypto News Litecoin Market Analysis Trading

Top 3 Coins to Watch Today: LTC, ALGO, ALPHA – May 5 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 22nd cryptocurrency globally and the current price is US$102.67. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last month, LTC kicked off a recovery trend that gained nearly 23% to break the weekly highs.

The following 55% plummet found support near $96.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $110.53.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $120.12, where aggressive bulls might begin bidding. The level near $133.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $149.13. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $96.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $89.23 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Algorand (ALGO)

The Algorand ALGO blockchain is a permissionless, pure proof-of-stake blockchain protocol. Unlike Proof-of-Work (PoW) blockchains, where the root block must be validated by randomly selected validators (using computing power), in the pure proof-of-stake approach all of the validators are known to one another and only have to agree on the next block in order to create a new block. Algorand was invented to speed up transactions and improve efficiency in response to the slow transaction times of Bitcoin and other blockchains.

ALGO Price Analysis

At the time of writing, ALGO is ranked the 30th cryptocurrency globally and the current price is US$0.6615. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during last month, ALGO gained nearly 20% into resistance that starts near $0.7522.

Swing traders looking for a continuation to the nearest cluster of relatively equal highs around $0.8412 might look for bids near $0.9036. More significant resistance rests above, near $0.9815. A group of significant swing highs at $1.10 and $1.16 give possible targets if this resistance breaks.

A stop run on the recent low at $0.6533 into possible support beginning near $0.6130 might see stronger bidding. This area also has a confluence with the recent monthly lows.

3. Alpha Finance (ALPHA)

Alpha Finance Lab ALPHA is a cross-chain DeFi platform that looks to bring Alpha to users across a variety of different blockchains, including Binance Smart Chain (BSC) and Ethereum. The platform aims to produce an ecosystem of DeFi products that address unmet needs in the industry while remaining simple to use and access. ALPHA is the native utility token of the platform. Token holders can earn a share of network fees by staking ALPHA tokens to cover any default loans. Other use cases for the token include liquidity mining and governance voting.

ALPHA Price Analysis

At the time of writing, ALPHA is ranked the 306th cryptocurrency globally and the current price is US$0.2847. Let’s take a look at the chart below for price analysis:

Source: TradingView

ALPHA‘s 60% rally from its Q1 lows met resistance near $0.5995, before creating a new range for Q2.

After a bearish flip of the 9, 18 and 40 EMAs, the price broke below $0.4310. This area, which has confluence with multiple swing lows and the February monthly open, may provide resistance on any future retest.

The price might find support near $0.3045 to $0.2549 if the overall market’s conditions turn more bullish. This zone has confluence with the 61.8% to 78.6% retracements and accumulation zone for Q1’s rally.

Suppose the price does rally through the probable resistance near December’s open. In that case, the January swing highs and above, near $0.4561, could provide resistance again. A shift back to more bullish market conditions could push the price to the 50% extension of the summer’s swing, near $0.5034.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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Crypto News Kava Litecoin Market Analysis Stellar Trading

Top 3 Coins to Watch Today: LTC, XLM, KAVA – April 13 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 20th cryptocurrency globally and the current price is US$103.65. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last month, LTC kicked off a recovery trend that gained nearly 20% to break the weekly highs.

The following 65% plummet found support near $102.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $120.53.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $125.12, where aggressive bulls might begin bidding. The level near $134.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $147.13. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $100.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $91.23 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Stellar (XLM)

Stellar XLM is an open network that allows money to be moved and stored. When it was released, the goal was boosting financial inclusion by reaching the world’s unbanked – but soon after, its priorities shifted to helping financial firms connect with one another through blockchain technology. The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers who often charge high fees for a similar service.

XLM Price Analysis

At the time of writing, XLM is ranked the 30th cryptocurrency globally and the current price is US$0.1902. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM set a high near $0.2557 in early April before retracing nearly 25% to find a low near $0.1780. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near $0.2478 is slowing the bullish advance down. However, another leg might target the last swing high at $0.2822 and relatively equal highs at $0.3136. Resistance near $0.3359 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near $0.3856.

A retracement before a move higher might find support in the daily gap near $0.1743, just above the monthly open. Relatively equal lows near $0.1675 could also provide support. Run-on stops at $0.1605 and $0.1583 might find support in the gap beginning near $0.1520.

3. Kava.io (KAVA)

KAVA is a cross-chain DeFi lending platform that allows users to borrow USDX stablecoins and deposit a variety of cryptocurrencies to begin earning a yield. The Kava DeFi hub operates as a decentralised bank for digital assets, allowing users to access a range of decentralised financial services, including its native USD-pegged stablecoin, USDX, as well as synthetics and derivatives. Through Kava, users are able to borrow USDX tokens by depositing collateral, effectively leveraging their exposure to crypto-assets.

KAVA Price Analysis

At the time of writing, KAVA is ranked the 96th cryptocurrency globally and the current price is US$4.07. Let’s take a look at the chart below for price analysis:

Source: TradingView

The last year saw KAVA travel through a massive range from approximately $8.00 to $3.66. Currently, it is trending downward into the range lows.

Resistance might be found just above the current price, beginning near $4.75. This area has confluence with the 9 and 18 EMAs. 

A stronger retracement against the bearish trend could reach the 40 EMA and the March monthly open, near $3.70. 

Although unlikely in the current bearish market conditions, a more significant rally might reach over the 2022 yearly open to test an inefficiently traded area from $4.19 to $4.48.

During Q1, the price bounced from the support between $3.15 to $3.00 while wicking just under a narrow support zone at $2.89. These two levels could provide support again. 

However, the price has been consolidating on higher timeframes since late January. Given the current bearish market conditions, it seems likely that a retest of these two support levels may fail. 

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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Crypto News Litecoin Market Analysis Terra Trading Zcash

Top 3 Coins to Watch Today: LTC, LUNA, ZEC – March 23 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 20th cryptocurrency globally and the current price is US$121.80. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, LTC kicked off a recovery trend that gained nearly 24% to break the weekly highs.

The following 60% plummet found support near $104.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $124.53.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $129.12, where aggressive bulls might begin bidding. The level near $137.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $152.13. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $101.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $94.23 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Terra (LUNA)

Terra LUNA is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its whitepaper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin, and offers fast and affordable settlements. Terra’s native token, LUNA, is used to stabilise the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

LUNA Price Analysis

At the time of writing, LUNA is ranked the 7th cryptocurrency globally and the current price is US$92.65. Let’s take a look at the chart below for price analysis:

Source: TradingView

LUNA showed significant strength in the face of a mostly bearish altcoin market, rallying over 90% in late February.

The price is currently retracing from resistance near $102.90, just below the all-time high. Bulls might begin eyeing entries near $82.00, which will soon be near the 18 EMA and between the 61.8% and 78.6% retracement levels of the last leg upward.

A deeper retracement might reach an inefficient zone and the 40 EMA under the last daily swing low, between $77.44 and $74.07. A move below this low suggests a more bearish shift in market structure. If this shift occurs, it could create a short setup to target possible support at the upmove’s accumulation zone, near $70.41.

While the price is retracing, $90.44 offers the closest probable resistance at the 2022 yearly open. Just above, near the March monthly open, the consolidation lows near $96.69 are also a reasonable candidate for resistance.

If the price breaks through these resistances, the significant resistance at $100.69 might also break and allow LUNA to set new all-time highs. However, bulls should keep in mind that the overall market is mostly bearish, decreasing the chances of a massive bullish breakout. If the price does break the all-time high and enter discovery, overlapping extensions near $128.40 offer a possible significant target.

3. Zcash (ZEC)

Zcash ZEC is a decentralised cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions. Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent.

ZEC Price Analysis

At the time of writing, ZEC is ranked the 50th cryptocurrency globally and the current price is US$176.30. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZEC‘s recent bearish flip of the 9, 18 and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near $149.47 and $160.96 – between the 41.8% and 58.6% retracements – could see at least a short-term bounce. 

Last year’s long-term consolidation suggests that the areas near $136.23 may be more likely to cause a longer-term trend reversal. 

Bears are likely to add to their shorts at probable resistance beginning near $180.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $192.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $216.41 might provide a ceiling for this impulse.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

Categories
Crypto News Litecoin Market Analysis NEO Trading

Top 3 Coins to Watch Today: LTC, HOT, NEO – February 3 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 20th cryptocurrency globally and the current price is US$110.39. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, LTC kicked off a recovery trend that gained nearly 15% to break the weekly highs.

The following 60% plummet found support near $102.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $122.43.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $128.12, where aggressive bulls might begin bidding. The level near $138.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $150.13. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $102.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $93.44 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Holo (HOT)

Holo HOT is a peer-to-peer distributed platform for hosting decentralised applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. The goal of Holo is to serve as a bridge between the broader internet and apps built using Holochain, offering an ecosystem and marketplace in which DApps are easily accessible, as they are hosted on the internet by Holo network participants.

HOT Price Analysis

At the time of writing, HOT is ranked the 94th cryptocurrency globally and the current price is US$0.004386. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the beginning of January, HOT has been in a gentle downtrend. The future likely holds more stop runs and erratic volatility until the chart forms more substantial high-timeframe levels.

A retracement might uncover support near $0.004196, which is the daily high of the last swing low. The high of the wick beginning near $0.004051 may also provide support. However, bulls will likely remain wary of the current downtrend, making the low at $0.003829 likely to be the next bearish target.

Just above, the daily gap beginning near $0.004633 may provide resistance to bulls, possibly marking a future range high. A push through this level is likely to target the swing high near $0.005356 – perhaps running to probable resistance near $0.006045. Strength above this level might signal the start of a bullish trend, encouraging bulls to “buy the dip”.

3. Neo (NEO)

NEO bills itself as a “rapidly growing and developing” ecosystem that has the goal of becoming the foundation for the next generation of the internet – a new economy where digitised payments, identities and assets come together. As well as creating a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operates an EcoBoost initiative that’s designed to encourage people to build decentralised apps and smart contracts on its blockchain.

NEO Price Analysis

At the time of writing, NEO is ranked the 60th cryptocurrency globally and the current price is US$20.71. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during late January, NEO has gained nearly 13% into resistance that starts near $36.12.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $34.33 might look for bids near $23.86. More significant resistance rests above, near $25.15. A group of significant swing highs at $27.36, $28.55 and $29.23 give possible targets if this resistance breaks.

A stop run on the recent low at $20.14 into possible support beginning near $19.43 might see stronger bidding. This area also has a confluence with the previous monthly low.

A bearish market shift could reach the swing low at $18.48 into possible support beginning near $16.54.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

Categories
Crypto News Litecoin Market Analysis Polkadot Trading

Top 3 Coins to Watch Today: LTC, DOT, ENJ – January 21 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 24th cryptocurrency globally and the current price is US$141.29. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low during early January, LTC kicked off a recovery trend that gained nearly 33% to break the monthly highs.

The following 55% plummet found support near $127.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $150.43.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $162.12, where aggressive bulls might begin bidding. The level near $170.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $185.13. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $120.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $112.44 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Polkadot (DOT)

Polkadot DOT is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. Polkadot’s native DOT token serves three clear purposes: providing network governance and operations, and creating parachains by bonding. The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain.

DOT Price Analysis

At the time of writing, DOT is ranked the 10th cryptocurrency globally and the current price is US$25.28. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT has remained between approximately $23.76 and $35.25 since its retracement from November 2021.

Continual retests of the $22.54 level might signify that the price is ready to run to the larger range’s lows.

If this move down occurs, a broad zone from $21.50 to $19.54 may provide support. The upper portion of this zone may see more sensitivity.

Continued bearish market conditions could prompt continuation down through the level. If so, the next higher timeframe area of interest for bulls is likely near $17.86.

The 9, 18 and 40 EMAs, near $28.52, might provide resistance before running the range lows. This area has confluence with multiple swing highs and lows. 

However, the current proximity to the local range low could prompt a move toward the range highs. If so, $30.44 might be the near-term target for bulls. Before entering, traders might wait for confirmation that one direction is more likely to unfold.

If the overall market becomes more bullish, the price could continue through the local range highs. If so, a zone from $33.76 to $36.81 – particularly the lower half – could see profit-taking from bulls.

3. Enjin Coin (ENJ)

Enjin Coin ENJ is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores. Enjin Coin is a digital store of value used to back the value of blockchain assets such as non-fungible tokens (NFTs).

ENJ Price Analysis

At the time of writing, ENJ is ranked the 60th cryptocurrency globally and the current price is US$2.34. Let’s take a look at the chart below for price analysis:

Source: TradingView

ENJ spent January ranging across the monthly open, reaching 18% over and 26% below. The price is currently consolidating between adjacent resistance and support at $2.39 with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $2.50. 

This move would likely target the swing high at $2.57 and relatively equal highs near $2.64. A sustained bullish trend could reach up to the monthly high near $2.70.

Bulls might see a sweep of the relatively equal lows near $2.30 as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $2.25 and $2.15.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

Categories
Cardano Crypto News Litecoin Market Analysis Ripple Trading

Top 3 Coins to Watch Today: XRP, LTC, ADA – December 23 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Ripple (XRP)

Ripple XRP is the currency that runs on a digital payment platform called RippleNet, on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and is not based on a blockchain, but rather the previously mentioned distributed ledger database.

XRP Price Analysis

At the time of writing, XRP is ranked the 7th cryptocurrency globally and the current price is US$0.9425. Let’s take a look at the chart below for price analysis:

Source: TradingView

XRP‘s 80% climb during Q3 returned to the monthly open, sweeping lows several times down to $0.7822. Last week, the price bounced from the monthly open near $0.8243 again, creating possible support near $0.8050. A quick sweep of this recent swing low could reach into a support area near $0.7912, while a sharp downturn in the market is likely to run for the relatively equal lows near $0.7725.

If the price breaks through the closest significant resistance near $0.9556, the swing high at $0.9934 is a likely target. This move could reach a daily gap of near $1.12.

Strong bullish momentum could propel the price to resistance near $1.15. If this move occurs, the significant swing high near $1.22 provides a reasonable goal.

2. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 18th cryptocurrency globally and the current price is US$155.75. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low in late September, LTC kicked off a bullish trend that rallied nearly 83% by November to break the monthly highs.

The following 65% plummet found support near $148.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $158.43.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $168.12, where aggressive bulls might begin bidding. The level near $177.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $190.05. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $146.18 could provide at least a short-term bounce. If this level fails, the old highs near $139.44 might also give support and see the start of a new bullish cycle after retesting these support levels.

3. Cardano (ADA)

Cardano ADA is a proof-of-stake blockchain platform whose stated goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals”, helping to create a society that is more secure, transparent, and fair. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.

ADA Price Analysis

At the time of writing, ADA is ranked the 6th cryptocurrency globally and the current price is US$1.35. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s nearly 70% drop from its November highs found a low near $1.20 during mid-December before closing over a short-term high.

This daily close over the high could signal a shift in market structure that might reach probable resistance near $1.42. A sustained bullish move may target the swing high at $1.50. If this stop run occurs, a run beyond the high into probable resistance near $1.62 and $1.78 is possible.

Bulls could buy a retracement to possible support near $1.27, just above the monthly open. A bearish turn in the marketplace may propel the price toward possible support near $1.22. 

However, relatively equal lows near $1.18 and $1.13 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $1.10 and $1.03.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.