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Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 19

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.The recovery in crypto prices has led to an increase in…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 19

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.” data-reactid=”27″ type=”text”>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.” data-reactid=”28″ type=”text”>Market data is provided by the HitBTC exchange.

The recovery in crypto prices has led to an increase in over-the-counter (OTC) demand for Bitcoin and altcoins. This surge in volume was cited by Binance’s CFO as one of the reasons for its strong Q1 performance.

Another platform being watched closely is the yet-to-be-launched Bakkt. Anonymous sources told Bloomberg that the United States Commodity Futures Trading Commission (CFTC) is reluctant to approve the Bitcoin futures because Bakkt intends to hold user assets. However, as the CFTC recognizes state bank and trust licenses, Bakkt might seek a New York BitLicense to launch its bitcoin futures. This is likely to increase the possibility of a green signal by the CFTC for the project.

The crypto and blockchain space is attracting investment from both venture capitalists and the government. Compared to the $2.5 billion in investments by venture capital firms in 2018, the space has already seen investors pump in $850 million in 2019. At this pace, this year’s total investment is likely to top that of last year. Similarly, the U.S. federal government’s blockchain spending is expected to increase from $10.7 million in 2017 to $123.5 million by 2022.

We also like the way the community has been quick to respond to the Notre Dame tragedy.

BTC/USD

Bitcoin (BTC) has continued to move up at a snail’s pace. This shows that the bulls are nervous to buy aggressively at higher levels. But if the digital currency rises above $5404.82, it might attract some buying and short covering. The target levels to watch on the upside are $5,674.84 and above it to $5,900.

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BTC/USD

The uptrending moving averages and the RSI close to the overbought zone suggests that the bulls are at an advantage. Our bullish view will be invalidated if the BTC/USD pair turns down from the current levels and plunges below $4,914.11. Such a move will signal profit booking and short initiation by the aggressive bears. The traders can trail the stop loss on the remaining long positions to $4,800.

ETH/USD

Ethereum (ETH) has once again broken out of the overhead resistance of $167.32. It is now likely to attempt to scale $187.98. If successful, it will indicate strength and the bulls can propel the digital currency to $220. Though the target objective of a breakout of the ascending triangle is $251.64, it has a slew of resistance between $220 and $251.64.

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ETH/USD

Both the moving averages are gradually trending up and the RSI is in the positive zone. This suggests that the bulls have the upper hand.

Our bullish view will be invalidated if the bears sink the ETH/USD pair back below $167.32. A breakdown of $156.42 will turn the trend in favor of the bears. Traders can continue to hold the stop loss on the remaining long positions at $150. We shall trail the stops higher in a couple of days.

XRP/USD

Ripple (XRP) broke out of $0.33108 on April 17 but could not sustain it. The price is again back below $0.33108. This shows a lack of buyers at higher levels. Both the moving averages are flat and the RSI is close to 50. This points to range-bound action for the next few days.    

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XRP/USD

In our previous analysis, we had recommended buying if the XRP/USD pair sustained $0.33108 for the next two days. But with the price falling below $0.33108 again today, our buy condition has not triggered. Considering the repeated failed breakouts, we have withdrawn our buy proposal. We swill suggest a trade when the pair decisively sustains above $0.33108.

Currently, if the bears sink the digital currency below the 50-day SMA, it will signal weakness and a drop to $0.27795 is possible.

BCH/USD

After failing to sustain above the overhead resistance of $332.58, Bitcoin Cash (BCH) is facing some profit booking. It can now dip to the 20-day EMA, which is likely to offer support. Both the moving averages are sloping up, which shows that the bulls have the upper hand. If the rebound from the 20-day EMA fails to breakout of the overhead resistance zone of $332.58–$363.30, it will remain range bound for a few days.

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BCH/USD

A break below the 20-day EMA can sink the BCH/USD pair to $239, which is a critical support. If this support gives way, it will indicate that the bears are back in action.

On the other hand, if the bulls succeed in breaking out of $363.30, the pair can rally to $451.32. The digital currency has a history of vertical rallies, hence, a breakout of $451.32 can surprise on the upside. We will wait for the uptrend to resume before proposing a trade.

LTC/USD

Litecoin (LTC) has held the 20-day EMA for the past few days. This shows that the bulls are keen to defend this support. The 20-day EMA is sloping up gradually and the RSI is just above the midpoint. This suggests a marginal advantage to the bulls. If the price scales above $84.3439, we expect a quick move to the overhead resistance zone of $91–$100.

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LTC/USD

A breakout of the resistance zone will complete a rounding bottom pattern that has a target objective of $159 and above it $180. Traders can buy a small portion — about 30% — of their usual position size on a breakout and close (UTC time frame) above $84.3439. The rest of the position can be purchased above $100 with initial stop loss at $74.

Contrary to our expectation, if the LTC/USD pair turns around from any of the overhead resistances and plunges below $74, it can correct to the 50-day SMA and below it to $62.450.

EOS/USD

EOS has been consolidating above the 20-day EMA for the past few days. The bulls have not allowed the price to dip below the 20-day EMA and the bears have not allowed a strong rebound from the support. This equilibrium phase is unlikely to continue for long.

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EOS/USD

The upsloping moving averages and the RSI in positive territory suggests that the bulls have the upper hand. A breakout of $5.6602 will indicate strength and can carry the price to $6.0726 and above it to $6.8299.

On the contrary, if the EOS/USD pair turns down and dives below $5, it can decline to the $4.4930–$3.8723 support zone. We do not spot any reliable buy setups at current levels; hence, we remain neutral on the pair.

BNB/USD

Binance Coin (BNB) surged on April 18 and has followed up with another strong move today. This shows that the bulls are keen to buy at higher levels. It is now likely to retest the lifetime high at $26.4732350. With both the moving averages sloping up and the RSI in overbought territory, the path of least resistance is to the upside.

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BNB/USD

If the BNB/USD pair rises to a new lifetime high, it will be a major positive. It will indicate that the price reached during January 2018 is not a misnomer. This will encourage the traders to keep buying the other digital currencies that are fundamentally sound.

Our bullish view will be invalidated if the pair reverses direction from the current level and plummets below the moving averages. Until then, it remains on target to make a new lifetime high. We do not spot an entry with a good risk to reward ratio, hence, we have not suggested a trade in it.

XLM/USD

Stellar (XLM) has largely been trading between $0.110 and $0.120 for the past seven days. The 20-day EMA is flat and the RSI is close to 50. This also supports the current consolidation.

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XLM/USD

If the XLM/USD pair breaks out and sustains above $0.120, it can move up to the downtrend line. We shall turn positive on the pair after it sustains above $0.14861760.

Conversely, if the digital currency plummets below $0.110, it can drop to the uptrend line, below which it will turn negative.

ADA/USD

After failing to breakout of the downtrend line, Cardano (ADA) has broken down of the 20-day EMA. This is a negative sign. If the bears can sink the price below $0.075920, it can decline to the 50-day SMA.

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ADA/USD

On the other hand, if the ADA/USD pair breaks out of the downtrend line, it will again try to break out of the overhead resistance of $0.094256. A close above this level will be a positive development.

However, the 20-day EMA is flattening out and the RSI is close to the midpoint. This points to a range formation in the short term. The pair is showing signs of a cup and handle formation. This pattern will complete on a close (UTC time frame) above $0.094256. We will wait for a bullish setup to form before recommending any long positions in it.

TRX/USD

Tron (TRX) has not been able to break out of $0.02815521 for the past few days. This shows a lack of buying pressure. Failure to break out of the overhead resistance will invite selling. The bears are attempting to sink it below the 20-day EMA. If successful, a drop to the 50-day SMA is probable.  

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TRX/USD

Both the moving averages are flat and the RSI is at the midpoint. This points to a balance between the buyers and sellers. The balance will tilt in favor of the bulls if the TRX/USD pair breaks out and sustains above $0.02815521. This is likely to start a new uptrend that can reach $0.03278079 and above it to $0.03575668.

However, if the pair fails to hold the 50-day SMA, a fall to $0.01830 is possible with a minor support at $0.02094452. Traders can keep the stop loss on the long positions at $0.0240.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.” data-reactid=”276″ type=”text”>Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Related Articles:

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 3

HitBTC exchange.” data-reactid=”28″ type=”text”>Market data is provided by the HitBTC exchange.Intercontinental Exchange Inc (ICE) has been loading up on digital assets for its cryptocurrency platform Bakkt, according to its chief executive officer Jeffrey Sprecher. This has helped ICE buy assets at a discount, which would not have happened if the markets were in a bull…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 3
HitBTC exchange.” data-reactid=”28″ type=”text”>Market data is provided by the HitBTC exchange.

Intercontinental Exchange Inc (ICE) has been loading up on digital assets for its cryptocurrency platform Bakkt, according to its chief executive officer Jeffrey Sprecher. This has helped ICE buy assets at a discount, which would not have happened if the markets were in a bull phase. Sprecher expects Bakkt to start operations later in 2019.

Attention has been shifting to institutional investors since the bear phase started. Stronger hands with deeper pockets are needed to provide stability in crypto markets. In a survey of 411 United States institutional investors, Fidelity Investments found that 47% of the participants believe that digital assets have a place in their investment portfolios.

The major attraction is the low correlation with other asset classes. Converesly, unclear regulation, lack of fundamentals, volatility, etc, were some of the hurdles in investing in digital assets.

Along with institutional involvement, mass adoption of cryptocurrencies is another important activity that can boost prices. In this regard, the markets are watching the development of Facebook’s rumored “FB Coin.” Sources have said the Wall Street Journal that Facebook is looking to raise $1 billion in investments for its cryptocurrency stablecoin. With Facebook’s mass reach, it can bring cryptocurrencies to the mainstream at a faster pace.

The recent recovery in Bitcoin has gathered pace and has pushed its market capitalization above $100 billion. Altcoins have also benefited from the bullish sentiment. After the rally, is it a good time to buy or to book profits? Let’s find out.

BTC/USD

Bitcoin (BTC) has surged towards its overhead resistance of $5,900. We like the pickup in momentum. This suggests confidence among the bulls that the leading digital currency will extend its recovery. If the price scales above $5,900, it will be a major sentiment booster. There is a minor psychological resistance at $6,000 but we expect it to be crossed. The next level to watch is $6,480.54. We expect the zone between $6,000–$6,480.54 to offer a stiff resistance. Hence, the traders can tighten their stops to protect their paper profits.

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BTC/USD

Contrary to our bullish view, if the BTC/USD pair fails to sustain above $5,900, it can witness profit booking that can drag it to the 20-day EMA. The pair might also enter into a consolidation between $4,914.11 and $5,900 for a few days. The trend will turn negative on a breakdown of $4,914.11. Until then, the bulls will continue to buy the dips. Traders can trail the stops on the remaining long positions to $5,400.

Currently, both the moving averages are sloping up and the RSI is also trying to break out of the negative divergence. This is a bullish sign. It shows that the path of least resistance is to the upside.

ETH/USD

Ethereum (ETH) has broken out of the downtrend line. It is currently facing resistance at the $180–$190.54 zone. If the bulls scale this zone, the digital currency can rally to $225 and above it to $256. Traders can buy above $192 and keep an initial stop loss of $146. As the risk to reward ratio is not very attractive, the position size can be about 40% of usual. We will suggest to trail the stops higher at the first available opportunity.

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ETH/USD

Our bullish view will be invalidated if the ETH/USD pair fails to ascend the overhead resistance zone and breaks below $148. Currently, the 20-day EMA is starting to turn up and the RSI has risen into positive territory. This suggests that the bulls have a minor advantage in the short term. The next couple of days are critical as it will set the stage for the next leg of the sustained move.

XRP/USD

While most major cryptocurrencies are on fire, Ripple (XRP) continues to lag behind. It is still trading below the 20-day EMA and close to the lower end of the range. This suggests a lack of interest among the bulls.

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XRP/USD

The XRP/USD pair needs to break out of the moving averages and $0.33108 to signal some buying. If the follow up buying pushes the price above $0.37835, we expect the pair to pick up momentum.

On the other hand, if the digital currency fails to move up, the bears will again try to break down of the critical support at $0.27795. We will wait for the breakout above $0.33108 to sustain before suggesting a long position.

BCH/USD

Bitcoin Cash (BCH) has broken out of the downtrend line, which is a positive sign. The 20-day EMA is gradually turning up and the RSI has risen into positive territory. This shows that the bulls have the upper hand.

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BCH/USD

The BCH/USD pair can now move up to $335.62 and above it to $363.30. We expect this level to act as a stiff resistance. If the price turns down from one of these resistance levels, the pair will trade in a range for a few days.

Our bullish view will be invalidated if the digital currency fails to sustain above the downtrend line and slips back to $255. The trend will turn negative on a breakdown of $225.

LTC/USD

Litecoin (LTC) has broken out of the 20-day EMA, which is a positive sign. It can now rally to $84.3439 and above it to $91. The digital currency has formed a cup and handle formation that will complete on a breakout and close (UTC time frame) above $91. This pattern has a target objective of $158.91. Traders can wait for the price to close above $91 to attempt this trade. The stop loss for this trade can be kept at $66 initially, which can be raised later.

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LTC/USD

But if the LTC/USD pair fails to climb the overhead resistances, it might remain range bound for a few days. The 20-day EMA is flat and the RSI is just above the midpoint. This suggests range-bound trading action in the short term. The trend will turn bearish on a breakdown and close below the recent lows of $66.470. It is always better to wait for the pattern to complete to go long, instead of buying in anticipation.

EOS/USD

EOS has broken out of the downtrend line and the 20-day EMA. This suggests that the recent pullback is over and it will now march toward $6.0726 and above it $6.8299. The 20-day EMA is gradually turning up and the RSI has jumped into positive territory. This shows that the bulls have the advantage in the short term.

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EOS/USD

Nonetheless, if the bulls fail to sustain the current levels, it will indicate profit booking that can drag the EOS/USD pair back to the 20-day EMA. A breakdown of the uptrend line will complete a rising wedge pattern and shift the advantage to the bears. Until then, any dip towards the 20-day EMA can be used as a buying opportunity.

BNB/USD

Binance Coin (BNB) rose above the previous intraday lifetime high of $26.4732350 and made a new high at $26.6428765. However, the bulls could not sustain the new high and the price has retreated back below it.

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BNB/USD

This shows profit booking at higher levels, but if the bears fail to sink the BNB/USD pair below the 20-day EMA, we anticipate another attempt by the bulls to make a new high. Both the moving averages are trending up and the RSI is in positive territory. This suggests that the bulls are in command.

However, if the price plunges below the 20-day EMA, it can drop to the 50-day SMA. A breakdown of this support will signal a deeper correction. We remain bullish and on the lookout for a reliable pattern that offers an attractive risk to reward ratio.

XLM/USD

Stellar (XLM) again broke below the uptrend line but found buyers at lower levels. While the repeated breach of a support line weakens it, the bears have not been able to sustain the price below the uptrend line. A breakdown of $0.09478125 can sink the digital currency to $0.08.

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XLM/USD

But, if the XLM/USD pair breaks out of the moving averages, it can rise to $0.12039489 and above it to $0.13250273. Currently, both the moving averages are flat and the RSI is just below 50. This points to a possible consolidation in the short term. We do not find any reliable buy setup, hence, we are not suggesting a long position in it.

ADA/USD

Cardano (ADA) is trying to break out of the 20-day EMA and the downtrend line. If successful, it can move up to $0.082952 and above it to $0.094256. However, the flat 20-day EMA and the RSI close to the midpoint suggest that range-bound trading is probable.

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ADA/USD

If the ADA/USD pair turns down from the current levels or from one of the overhead resistances, it can remain range bound for a few days. It will turn negative on a breakdown of $0.063230.

The pair will complete a cup and handle formation if it closes (UTC time frame) above $0.094256. We will wait for the price to ascend $0.094256 before suggesting any long positions in it.

TRX/USD

Tron (TRX) has been attempting to break out of the moving averages. If the price sustains above it, it will move up to the next overhead resistance of $0.02815521. The bulls have broken out of this level previously, but have not been able to sustain the breakout.

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TRX/USD

If the TRX/USD pair breaks out of the overhead resistance once again, it will offer an opportunity to go long. The pair has been consolidating for the past nine months, which indicates that the ensuing breakout will show a big move. Therefore, we retain the buy recommendation given in the previous analysis.

Contrary to our assumption, if the cryptocurrency turns down from the current levels, it can correct to $0.02094452. A break of this level will sink it to the critical support of $0.01830.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.” data-reactid=”274″ type=”text”>Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Dominant Bitcoin Slips on Monday, Drags Cryptocurrency Index Down $8.7 Billion

By CCN.com: Dominant crypto asset bitcoin sent fresh shivers through the rest of the cryptocurrency market with its latest plunge.The bitcoin-to-dollar exchange rate dropped as much as 2.66-percent on Monday to establish an intraday low towards $5,569.71. The move brought bitcoin’s total downside correction from its weekly high to 4.58-percent, wiping more than $3.5 billion…

Dominant Bitcoin Slips on Monday, Drags Cryptocurrency Index Down $8.7 Billion

By CCN.com: Dominant crypto asset bitcoin sent fresh shivers through the rest of the cryptocurrency market with its latest plunge.

The bitcoin-to-dollar exchange rate dropped as much as 2.66-percent on Monday to establish an intraday low towards $5,569.71. The move brought bitcoin’s total downside correction from its weekly high to 4.58-percent, wiping more than $3.5 billion on the way.

BITCOIN, BTC USD

BITCOIN PRICE WIPED OVER $3.5 BILLION OFF ITS SLATE THIS WEEK | SOURCE: COINMARKETCAP.COM

Other assets listed in the cryptocurrency index followed bitcoin’s sentiment. Ethereum, the second-largest crypto by market capitalization, lost a little over a billion dollar as its dollar-rate dropped 6.76 percent. Bitcoin Cash, bitcoin’s forked version and the fourth-largest crypto, too plunged by more than 11-percent. EOS, Litecoin, XRP, Binance Coin and the rest of the top assets also trended in negative territories, as shown in the CoinMarketCap listing below.

BITCOIN, LITECOIN, ETHEREUM, BITCOIN CASH, EOS, XRP, CARDANO

CRYPTOCURRENCY MARKET CAP PERFORMANCE IN PAST 24 HOURS | SOURCE: COINMARKETCAP.COM

Combined, bitcoin and the rest of the cryptocurrency market, which includes more than 2,100 assets, lost up to $8.7 billion from their weekly high.

Imminent Market Sentiment

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BITCOIN, BTC USD

BITCOIN PULLBACK COMING | SOURCE: COINBASE, TRADINGVIEW.COM

Read the full story on CCN.com.

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