Crypto Analysis - Litecoin Price Running Out of Gas After Rally

litecoin price cryptocurrency
The litecoin price has boomed in 2019. One crypto analyst says it can't keep this pace up much longer. | Source: Shutterstock

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By CCN: The litecoin price has been one of the cryptocurrency market’s top performers in 2019, climbing a ridiculous 162 percent since the new year.

Among large-cap cryptoassets, only binance coin has performed better, and litecoin’s year-to-date rally leaves the bitcoin price’s 40 percent advance in the dust. However, one team of crypto analysts says the sixth-largest cryptocurrency looks poised for a sell-off.

Litecoin Price Likely to Crash Through Support – And That’s OK!

litecoin price crypto analysis
The sixth-largest cryptocurrency has climbed more than 150 percent in 2019. It might be running out of gas. | Source: CoinMarketCap

Writing in a note to clients on Wednesday, crypto brokerage BitOoda said that a downward wedge has begun to form on the litecoin chart, suggesting that the cryptocurrency could be on the verge of a short-term breakdown. That sell-off would likely cause the litecoin price – which currently holds near...


Bitcoin Price Trapped in Key Make-or-Break Trading Range

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  • Bitcoin is trapped in a trading range defined by the 200-week simple moving average and the 200- week exponential moving average, currently at $3,404 and $4,106, respectively. Therefore, the outlook as per the weekly chart is neutral.
  • A weekly close (Sunday, UTC) above $4,106 would confirm a longer-term bearish-to-bullish trend change and could fuel a rally toward $5,000.
  • A weekly close (Sunday, UTC) below $3,404 could revive the sell-off from November highs above $6,500 and allow a drop to levels below $3,000.
  • The odds of a drop to the lower edge of the trading range would improve if BTC invalidates a bullish candlestick pattern created on Feb. 27 with a move below $3,658.

Bitcoin is trapped in a key trading range defined by the 200-week simple moving average and the 200- week exponential moving average, currently at $3,404 and $4,106, respectively

The cryptocurrency needs a break above the upper edge needed to confirm a longer-term bull reversal. Conversely, a move below the lower bound of the range could revive the bear market.

Prices fell below the 200-week EMA in the third week of November, bolstering the bearish view put forward by the high-volume breach of the crucial support at $6,000 on Nov. 14.

The ensuing sell-off, however, ran out of...


‘Bull Cross’ Points to Positive Bitcoin Market Shift

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  • Bitcoin’s three-day chart is showing a bullish crossover of the 5- and 10-day exponential moving averages for the first time since July. The crossover looks decisive as both EMAs are now trending north, validating the bearish-to-bullish trend change signaled by the high-volume triangle breakout seen on the 3-day chart.
  • The cryptocurrency could test December highs above $4,200 in the near term.
  • A minor pullback to $3,800 may be seen in the next 24 hours, as signs of bullish exhaustion have emerged on the hourly and 4-hour charts.
  • The bullish case would weaken if BTC finds acceptance below $3,614 (the low of the previous three-day candle), but that currently looks unlikely.

A much-followed bitcoin (BTC) price indicator has turned bullish for the first time in seven months, indicating a trend change in the market.

On the three-day chart, the 5-candle exponential moving average (EMA) has crossed the 10-candle EMA from below – the first decisive bullish crossover since July 17, 2018.

Back then, BTC was trading above $7,300 and the crossover was followed by a rally to highs above $8,400 on July 24.

Moving average crossovers help identify shifts in momentum. A bearish-to-bullish trend change is confirmed when a short-term moving average crosses through a long-term average from below.

Many would argue that EMA crossovers are lagging indicators. While that is true, crossovers between the short duration averages help traders distinguish between bullish and bearish scenarios. The long-term MA crossovers like the “golden cross” (bullish crossover of the...


The Faircoin price of $0.22 can be worth millions

Faircoin, this asset is worth only $0.22. Something so small can’t even register on the global financial radar. Even in crypto exchanges, if we look at daily trading volume it’s nothing more than a slight glitch.

Ranked at 1134 on CoinMarketCap, this little asset presents a very reliable lifeline for its users. According to Sporos, a crypto enthusiast based in Athens, faircoin can be found everywhere in the world. He says he hasn’t relied on banking services for no less than 8 years thanks to this asset. If we look at the events from the last decade or so, Sporos’ definitely did well to stay away from banks.

Located in an anarchist stronghold in Athens, Sporos runs a faircoin information center. There are over a few hundred similar centers located all around the world. The centers are stocked with many homemade products like honey, soap, perfume, olive oil, tea and even jewelry. Of course all the products vary depending on the location on the center, but they all have one thing in common. They can all be purchased with faircoin.

If the provided information is accurate, we’re looking at over 620 centers all around the world. Sporos refers to them as the ecosystem of faircoin. This ecosystem includes a transportation sharing app combined with an AirBnB alternative and faircoin-based financial institution. The institution is called the Bank of Commons and is completely tax-free.

Faircoin redefines being human

In this global network, nodes aren’t exactly nodes. Usually, nodes are the computers, but...