• Latest
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, August 31

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, August 31

September 22, 2018
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Litecoin

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, August 31

coinnewsdaily by coinnewsdaily
September 22, 2018
in Litecoin
0
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, August 31
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022

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.

A new study from the Initial Coin Offering (ICO) advisory firm Satis Group has claimed that the price of Bitcoin (BTC) could soar to $98,000 within the next five years. However, the company forecasts a lower target for both Bitcoin Cash (BCH) and Ripple (XRP) in that period. According to the research team, Ethereum (ETH) will also lose about half of its share in the next ten years.

The job market in the blockchain and the cryptocurrency industries in Asia is growing and many are shifting from their traditional jobs to be a part of this budding technology.

Japanese messaging app LINE is planning to launch its own cryptocurrency in September. Rakuten, the Japanese e-commerce giant has purchased a domestic crypto exchange, Everybody’s Bitcoin. The government of a South Korean province Gyeongsangbuk-do plans to issue its own digital currency.

This shows that the fundamentals of the sector are improving. So, is this the right time to buy or can the cryptocurrencies fall further before bottoming out? Let’s find out.

BTC/USD

Bitcoin has been struggling to stay above the 50-day SMA for the past two days. This shows a lack of follow up buying at higher levels. The only positive is that the bulls have been able to defend the 20-day EMA and the digital currency has managed to close (UTC time frame) above the 50-day SMA on all the three days.

The 20-day EMA has turned up, which shows that the bulls have a short-term advantage. If prices break out of $7,127, the BTC/USD pair can pick up momentum and scale above the 50 percent Fibonacci retracement level of $7,198.3.

The 61.8 percent Fibonacci retracement level of $7,504.68 might act as a minor resistance, above which the rally can extend to $7,940.89. Once the prices sustain above $7,200, the traders can raise their stops to break even. For now, the long positions can be maintained with the recommended stops.

Our bullish view will be invalidated if the bears sink prices below the 20-day EMA. In such a case, the digital currency will become range bound between $5,900.06 and $6,955.79. Bitcoin will turn negative only if the prices sustain below $5,900.

ETH/USD

Ethereum has recently been one of the weakest cryptocurrencies that we cover. It has not even touched the 20-day EMA in the past few days. This shows a lack of buying support at the current levels.

ETH/USD

It has formed a symmetrical triangle at the lower levels. If the bears sink the prices below the triangle, the ETH/USD pair can slide to $249.93 and further to $205.  

If the bulls break out of the triangle, a move to $358 is probable. However, the 20-day EMA and the downtrend line are formidable resistances on the upside, hence, we shall wait for a buy setup to form before proposing any trades on it.

XRP/USD

Ripple has failed to break out of the downtrend line 2 for the past three days. It has also slid below the 20-day EMA, which shows a lack of buyers at higher levels.

XRP/USD

A move above the 50-day SMA will indicate strength and can result in a rally to $0.5. The trend will change if the XRP/USD pair sustains above the downtrend line 1.

If the bears sink the virtual currency below $0.31, a retest of the August 14 lows is possible. We don’t find any reliable bullish patterns at the current levels, hence, we are not suggesting any trades on it.

BCH/USD

Bitcoin Cash hasn’t done much in the past few days as it remains stuck between $500 and the 20-day EMA.

BCH/USD

Both moving averages are sloping down, which shows that the bears are still in command. The BCH/USD pair is likely to gain strength above the 50-day SMA.

On the downside, the virtual currency will become negative if the $500–$473.906 support zone breaks down. We shall wait for the trend to change before suggesting any long positions on the pair.

EOS/USD

EOS has stayed above the 20-day EMA and $5.65 for the past three days, which is a positive sign.

EOS/USD

For the past two days, the EOS/USD pair has been facing resistance at the 50-day SMA. The bulls have not managed a close (UTC time frame) above this moving average since June 8. A close will indicate a probable change in trend. Therefore, we maintain the buy recommendation made in the previous analysis.

The rising 20-day EMA and the flattening 50-day SMA increase the possibility of a bullish crossover if the price sustains above $6.5. Our bullish view will be invalidated if the price turns down from the overhead resistance.

XLM/USD

Stellar continues to trade inside the range of $0.184–$0.24987525. The longer it stays in the range, the stronger will be the eventual breakout or breakdown from it.

XLM/USD

The XLM/USD pair will complete a bearish descending triangle pattern if it breaks below the $0.184 support level.

On the other hand, the bearish pattern will fail if the bulls break out of the downtrend line. As the bottom of the range at $0.184 has managed to hold on two previous occasions in 2018, we anticipate a strong up move once the bulls break out of the range. Therefore, we retain our buy recommendation made on August 27.

LTC/USD

After failing to break out of the range on August 28 and 29, Litecoin is currently trying to hold  the support at the 20-day EMA. Both moving averages are flattening out. This shows that the selling pressure has reduced and a change in trend is probable.

LTC/USD

The first sign of strength will be when the bulls break out and sustain above the overhead resistance at $62.319. The short-term traders can stay on the long side once the virtual currency scales above $64. Such a move might face resistance at the 50-day SMA, the downtrend line and at $74.

We shall turn bullish on the LTC/USD pair after it breaks out and sustains above $74 for three days. Positional traders should wait for additional confirmation before initiating any long positions.

ADA/USD

Cardano failed to break out of the overhead resistance on August 29 and has extended its stay inside the range of $0.083192–$0.111843.

ADA/USD

Currently, the prices have slipped below the 20-day EMA. The flattening moving averages point to a probable consolidation in the near-term.

A break out of the 20-day EMA will carry the ADA/USD pair to the 50-day SMA. We shall turn positive if the bulls succeed in sustaining above $0.13.

Our neutral stance will be invalidated if the bears break down of $0.083192. We shall wait for a new buy setup to form before proposing any trades.

IOTA/USD

IOTA has turned down from the resistance zone between the 50-day SMA and the downtrend line but found support close to the 20-day EMA. It could not reach $0.82 where we had suggested booking partial profits.

IOTA/USD

The IOTA/USD pair will continue to face selling between $0.815 and $0.9150. After this zone is crossed, the rally can extend to $1.24.

On the downside, the 20-day EMA and $0.5750 will act as strong supports. Both moving averages have flattened out, which shows that the selling has subsided and a change in trend is likely. Therefore, the traders can continue holding the existing long positions with the recommended stops.

XMR/USD

Monero has held above the 20-day EMA for the past four days. It is currently trying to break out of the horizontal resistance at $109.22.

XMR/USD

The zone between the current price and the downtrend line is likely to act as a stiff resistance.

The XMR/USD pair has not broken out of the downtrend line convincingly since topping out in December of last year. If the bulls succeed in closing (UTC time frame) above this resistance, it indicates a probable change in trend. The flattening moving averages indicate that the bears are losing their grip.

Therefore, we retain the buy recommendation provided in the previous analysis.   

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

 



Credit: Source link

Tags: Litecoin
Share76Tweet48
Previous Post

Which Is the Most Usable for Merchants?

Next Post

Bitcoin Hovers Near $7K, as Wider Market Tips Back Into the Green

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |
Bitcoin

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing
Bitcoin

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022
Bull or bear market, creators are diving headfirst into crypto
Alt Coin

Bull or bear market, creators are diving headfirst into crypto

April 2, 2022
crypto listing and delisting announcements: week 9
Alt Coin

Crypto Listing and Delisting Announcements: Week 9

February 28, 2022
unstable markets how to invest in cryptocurrency
Alt Coin

How to invest in cryptocurrency when the market is uncertain, explained

December 21, 2021
be your own banker secrets
Alt Coin

Bitcoin and Crypto Wallet Hygiene 101

November 22, 2021
Load More
Next Post
Bitcoin Hovers Near $7K, as Wider Market Tips Back Into the Green

Bitcoin Hovers Near $7K, as Wider Market Tips Back Into the Green

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$20,380.001.53%
  • ethereumEthereum(ETH)$1,095.260.41%
  • tetherTether(USDT)$1.00-0.14%
  • binancecoinBNB(BNB)$225.493.30%
  • rippleXRP(XRP)$0.3309401.37%
  • cardanoCardano(ADA)$0.4673761.26%
  • SolanaSolana(SOL)$34.967.05%
  • dogecoinDogecoin(DOGE)$0.067623-0.61%
  • polkadotPolkadot(DOT)$7.112.79%
  • daiDai(DAI)$1.00-0.12%
  • Shiba InuShiba Inu(SHIB)$0.0000103.73%
  • tronTRON(TRX)$0.0655691.76%
  • leo-tokenLEO Token(LEO)$5.77-3.23%
  • matic-networkPolygon(MATIC)$0.4887431.04%
  • litecoinLitecoin(LTC)$54.933.65%
  • FTXFTX(FTT)$25.312.46%
  • OKBOKB(OKB)$12.432.45%
  • chainlinkChainlink(LINK)$6.343.55%
  • CronosCronos(CRO)$0.1168900.59%
  • stellarStellar(XLM)$0.1127024.88%
  • cosmosCosmos Hub(ATOM)$7.725.93%
  • algorandAlgorand(ALGO)$0.3145015.91%
  • moneroMonero(XMR)$116.41-0.86%
  • ethereum-classicEthereum Classic(ETC)$15.191.51%
  • bitcoin-cashBitcoin Cash(BCH)$104.540.94%
  • vechainVeChain(VET)$0.0230262.24%
  • Internet ComputerInternet Computer(ICP)$5.412.28%
  • tezosTezos(XTZ)$1.43-0.02%
  • filecoinFilecoin(FIL)$5.451.92%
  • theta-tokenTheta Network(THETA)$1.211.75%
  • ElrondElrond(EGLD)$51.164.66%
  • bitcoin-cash-svBitcoin SV(BSV)$56.15-0.24%
  • eosEOS(EOS)$0.942.09%
  • paxos-standardPax Dollar(USDP)$1.00-0.12%
  • makerMaker(MKR)$920.733.00%
  • AaveAave(AAVE)$58.411.45%
  • huobi-tokenHuobi(HT)$4.94-0.89%
  • iotaIOTA(MIOTA)$0.2716562.27%
  • zcashZcash(ZEC)$55.12-1.62%
  • neoNEO(NEO)$8.571.58%
  • basic-attention-tokenBasic Attention(BAT)$0.4029106.67%
  • zilliqaZilliqa(ZIL)$0.0394903.19%
  • havvenSynthetix Network(SNX)$2.30-1.89%
  • wavesWaves(WAVES)$5.12-3.10%
  • dashDash(DASH)$42.75-1.70%
  • PancakeSwapPancakeSwap(CAKE)$3.123.24%
  • KusamaKusama(KSM)$49.332.81%
  • nemNEM(XEM)$0.0389991.32%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • CompoundCompound(COMP)$48.500.39%
  • ethlendAave [OLD](LEND)$4.103.48%
  • qtumQtum(QTUM)$2.873.10%
  • bitcoin-goldBitcoin Gold(BTG)$15.69-2.55%
  • omisegoOMG Network(OMG)$1.873.52%
  • golemGolem(GLM)$0.232064-3.67%
  • ontologyOntology(ONT)$0.2309111.83%
  • SushiSushi(SUSHI)$1.01-0.92%
  • yearn-financeyearn.finance(YFI)$5,498.671.54%
  • umaUMA(UMA)$2.560.59%
  • digibyteDigiByte(DGB)$0.0093093.13%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....