Litecoin (LTC) Price Analysis – February 19

  • The price of Litecoin faces resistance at the $48 price level.
  • The crypto's price is expected to rise if the bulls break the $48 and $50 resistance levels.

Litecoin, LTCUSDLitecoin Chart by Trading View

LTCUSD Medium-term Trend: Bullish

  • Resistance Levels: $60, $65, $70
  • Support Levels: $40, $35, $30        

The LTCUSD pair is in the bullish trend zone. In retrospect, the price of Litecoin was range bound above the $30 price level since January 10, 2019. On February 8, the bulls broke out of the range-bound movement and reached a high of $48.10. The LTC price faced resistance at the $48 price level and the crypto fell to the support of 12-day  EMA.

At the support of 12-day EMA, the bulls made another attempt at the resistance level at $48. On the upside, the crypto's price is expected to rise if the bulls break the $48 resistance level. Meanwhile, the Stochastic is in the overbought region but below the 80% range which indicates that the crypto is in a bullish momentum and a buy signal.

LTCUSD Short-term Trend: Bullish 

Litecoin, LTCUSDLitecoin Chart by Trading View

On the 4-hour chart, the price of Litecoin is in a bullish trend. The crypto's price was making a series of higher highs and higher lows when the trend line was broken at the $48 price level. From this chart, the bullish trend is terminated because the trend line has been broken and the following candlestick closed in the opposite of the trend line.

The bulls are still pushing towards the resistance level. Meanwhile, the Stochastic is in the overbought region but below the 80% range which indicates that the crypto is in a bullish momentum and a buy signal.

           

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.           

Cardano (ADA) on Fire: Surges Above $0.10 to Get Into Top 6, Up 206% in 2020

At 16:00 UTC on Friday (July 3), shortly after IOHK, the company developing the Cardano (ADA) protocol, announced a custody agreement with Coinbase, the price of the ADA token went over $0.10 for the first time since October 2018, thereby making ADA the sixth most valuable cryptoasset by market cap.

Yesterday, on day two of the two-day "Cardano Virtual Summit: Shelley Edition", IOHK Co-Founder and CEO Charles Hoskinson announced that from Q4 of this year, Cardano blockchain users would be able to store their ADA holdings at Coinbase Custody "without losing the ability to delegate their stake."

On Tuesday (June 30), IOHK announced that the Shelley codebase had been released to Cardano’s mainnet (but note that the actual hard fork is not expected until around July 29):


Hoskinson had this to say about his company's agreement with Coinbase Custody, which "operates as a standalone, independently-capitalized business to Coinbase, Inc.":

"With Cardano, we believe we can create a revolutionary solution which will be able to offer access to finance and investment to swathes of the population who have previously been shut out of the system.

"This custody agreement allows us to offer the same secure storage solutions that can be found in traditional finance to ada holders, without sacrificing what makes Proof of Stake blockchains special - being able to participate in the network.

"We look forward to this partnership with Coinbase, and to continuing to bring cryptocurrencies closer and closer to mainstream adoption."

As for Sam McIngvale, Head of Product at Coinbase Custody, he said:

"We have been following the success of the Cardano incentivized testnet, with over a thousand registered stakepools during the testing period.

"We are pleased to have been selected as the custodian and we’re proud to be a full-service, regulated, comprehensively-insured, and 100% offline staking provider in crypto.

"The ability to successfully operate within a regulatory framework is essential for the long-term survival of cryptocurrencies.

"We are overseen by the same regulators, and held to similar capital requirements and audit requirements as a traditional financial custodian, which removes many of the perceived barriers to global acceptance of crypto."

IOHK's announcement was made just before 14:00 UTC on Friday (July 3). By 16:00 UTC, the ADA price had broken through the $0.10 resistance level for the first time since October 2018.

Currently (as of 07:34 UTC on July 4), Cardano's token is trading at $0.1003 (up 6.94% in the past 24-hour period), which makes it the sixth most valuable cryptoasset by market cap:

24 Hour CC Chart for ADA-USD on 4 July 2020.png

So far in 2020, Cardano's ADA has gone up over 206% vs. the dollar.