Connect with us

Blockchain

Litecoin $LTC Price Outlook: Slightly Bearish

December 29 2018 10:36 UTC   Litecoin has gained 10.66% or 3.03 USDT in twenty-four hours. In this Saturday Edition find $LTC price action, trend, technicals and more. Or jump right to the Litecoin $LTC Price Outlook.   Price Action The price of $LTC has risen over twenty-four hours. The last price at press time […]

Published

on

@KittyBitcoin logo
December 29 2018 10:36 UTC

 

Litecoin has gained 10.66% or 3.03 USDT in twenty-four hours. In this Saturday Edition find $LTC price action, trend, technicals and more. Or jump right to the Litecoin $LTC Price Outlook.

 

Price Action

The price of $LTC has risen over twenty-four hours. The last price at press time is 31.45 USDT. In Binance moderate to heavy volume trading the daily change is 10.66%, or 3.03 USDT:
$LTC Price Change
period % USDT
24 hours 10.66 3.03
7 days 0.51 0.16
1 month -7.23 -2.45

News

Trend

trend is MIXED

The Litecoin weekly trend is mixed. The monthly trend is clearly down, the ten day trend is largely sideways, and the weekly trend has significant price changes daily with no decided direction weekly.

[Trend is "mixed" when the weekly price movement contains both green and red daily price candles, price movement up or down is significant, and there is no clear weekly price direction.]

Real Time Market Depth

The real time market depth is slightly bearish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

ltc-usdt-binance-one-hour-candles-2018-12-29

 

Remarks

A bitcoin surge lifted Litecoin today. $LTC began at $28.41 at seven in the morning. Five hours later it reached a high of $33.08. The difference was $4.67. The price went largely sideways after the initial lift.

The last price, in a red candle, has broken through the major intraday support level at $31.12, and appears headed south.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the one hour chart is bearish. The two, four and six hour charts are bullish, while the one hour and twelve hour chart are bearish. It’s a mixed bag.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day 31.67
25 day 31.01
99 day 30.34

The EMA results are based on the one hour chart, displayed.

Twenty-three hours ago we saw a low angle bullish cross above the medium term EMA(25) in the one hour chart. The short term EMA(7) crossed the long term EMA(99) and continued to rise. Overall this was bullish, however the indicator is currently headed sharply downwards, a bearish state.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

 

Relative Strength Index (RSI)

The Relative Strength Index on the one hour chart is 51.6. This is a neutral state.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

 

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is 6.87%. This may exert a neutral influence on Litecoin today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

 

Litecoin $LTC Price Outlook

slightly bearish

  • the Litecoin $LTC price outlook is slightly bearish
  • if the price finds acceptance at higher levels the major resistance prints at 32.00
  • if the price finds acceptance at lower levels the major support prints at 31.00
Resistance levels: 32.00 33.08

Support levels: 31.00 27.17 23.50

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis duration.

 

Analysis Duration: four hours

This report is for a short term duration of four hours. Analysis is time sensitive.

[Analysis duration yields a “best before date”, calculated from report generation at December 29 2018 10:36 UTC.]

 

Independent Comparison

Comparing our outlook with independent, automated results from Investing.com shows:

Asset: Litecoin $LTC
Time Period: 5 Hours
Summary: strong buy
Moving Averages: strong buy
Technical Indicators: strong buy

 

Disclosure

The author does not hold Litecoin $LTC at the time of writing.

About @KittyBitcoin

KittyBitcoin logo

@KittyBitcoin has provided timely and informative blockchain intelligence since 2014. Request your custom content today, browse @KittyBitcoin on Twitter® or visit the KittyBitcoin.com website.

Feed

This KittyBitcoin feed is moving January 01 2019. Use the new feed URL page at: http://kittybitcoin.com/docs/feeds.php

Copyright

KittyBitcoin media is licensed not sold. Copyright©KittyBitcoin.com 2018. All rights reserved.

Thanks for reading 🙂

Source: http://allcoinsnews.com/2018/12/29/litecoin-ltc-price-outlook-slightly-bearish/

Blockchain

Crypto Exchange FTX Launches Bitcoin Pairs for Wall Street Stocks Like Tesla, Apple, Amazon

Published

on

Crypto derivatives exchange FTX will give cryptocurrency traders the opportunity to trade tokenized shares of major companies like Apple Inc. and Amazon. The so-called fractional stocks will soon be available on the company’s platform.

Tokenized Shares To Some Of The Biggest

As per a recent report, FTX will be partnering with German financial firm CM Equity AG and Swiss-based Digital Assets AG. The cooperation aims to offer traders the so-called fractional stocks – about twelve stock/crypto pairs that will be traded on FTX’s platform.

Alongside additions like Apple Inc. and Amazon, the list of company stocks includes Netflix Inc., Facebook Inc., Tesla Inc., and the SPDR S&P 500 exchange-traded fund.

According to the news report, FTX’s move is part of a more intense urge towards the cryptocurrency industry to popularize securities token listings.

Reportedly, the new token additions will target investors who find it hard or inconvenient to access a variety of stocks via traditional markets.

Sam Bankman-Fried, CEO of FTX, said:

“For a lot of people, it’s a hassle” to access stocks. There are ways to do it, but they feel very much old and clunky. Giving people access broadens out what you can trade.”

He also added that the tokens will behave much like a depositary receipt or an exchange-traded fund (ETF). Investors can trade them on FTX but will have to cash them out because of the underlying security via CM Equity, which holds the actual securities.

Reportedly, there will be no management fees for holding the tokens. Trading fees will remain, though. The launch will go live shortly after the beginning of the registration on Thursday. Traders in the U.S. and FTX’s other restricted jurisdictions won’t be able to trade the newly added tokens.

Delivering Different Trading Opportunities

FTX is known for launching products that are rather different than those on other traditional cryptocurrency exchanges. It was one of the first venues to launch an index on Uniswap coins back when the DeFi boom was all the rage on the crypto market.

As CryptoPotato reported, recently, the company launched a Uniswap futures index combining the top 100 pools on the Uniswap platform. The project offered traders to employ a traditional digital asset exchange to access markets through the decentralized trading platform.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/crypto-exchange-ftx-launches-bitcoin-pairs-for-wall-street-stocks-like-tesla-apple-amazon/

Continue Reading

Blockchain

Crypto Markets Shed $10 Billion in Hours as Bitcoin Loses $400 (Market Watch)

Published

on

After a sharp price jump towards $13,650 intraday, Bitcoin has retraced and trades around $13,200. The alternative coins continue to bleed out, and the total market capitalization has dropped below $390 billion.

Bitcoin To $13,650 And Back On ECB Stimulus News

Following the latest 2020 high, Bitcoin got rejected and lost nearly $1,000 of value in hours a few days ago. Since then, the asset has been struggling with the $13,000 level.

After another dip below it, BTC went on a roll yesterday. This resulted in a daily high of almost $13,700 (on Bitstamp). Interestingly, the impressive price increase came shortly after the European Central Bank said that it could seek a new stimulus package in December.

“The Governing Council will recalibrate its instruments, as appropriate, to respond to the unfolding situation and to ensure that financing conditions remain favorable to support the economic recovery and counteract the negative impact on the pandemic on the projected inflation path.”

More impactful news came from the US. The jobless claims fell to a 7-month low – a level not registered since before the COVID-19 outbreak.

Wall Street also felt the positive effects. The three most prominent US stock indexes closed Thursday’s trading session in the green. However, the futures contracts have dropped after hours.

Bitcoin has mimicked the stocks’ performance, but being a 24/7- traded asset, it started dropping shortly after Wall Street closed doors. BTC has lost about $450 and currently sits around $13,200.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Blood On The Altcoins Street

The situation within the alternative coin market is unfavorable, to say the least. As the graph below demonstrates, all alternative coins are in the red on a 24-hour scale.

Ethereum struggles with $380 after a 2.4% drop. Ripple’s near 4% decline has taken XRP beneath $0.24. Bitcoin Cash (-2.2%), Binance Coin (-7%), Chainlink (-6%), Polkadot (-9%), Cardano (-9%) have all lost significant chunks of value from the top ten coins.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Further losses come from the lower and mid-cap altcoins. Reserve Rights has dropped by 20%, Yearn.Finance by 17.5%, and Synthetix Network Token by (-17%).

Other double-digit price declines are evident from Ampleforth (-16.7%), ABBC Coin (-16.7%), Ocean Protocol (-16.5%), Compound (-14.5%), Band Protocol (-14%), Algorand (-13%), Ren (-13%), and more.

The total market capitalization has seen $10 billion evaporate in a day and $20 billion in two days.

Cryptocurrency Market Capitalization. Source: CoinMarketCap
Cryptocurrency Market Capitalization. Source: CoinMarketCap
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/crypto-markets-shed-10-billion-in-hours-as-bitcoin-loses-400-market-watch/

Continue Reading

Blockchain

Crypto Collateral Exchange Dsdaq Hosts Global Demo Trading Competition

Published

on

[PRESS RELEASE – Please See Disclaimer]

Hong Kong innovative crypto collateral trading platform Dsdaq is hosting a Global demo trading competition, to celebrate the launch of its demo account function.

Nearly 2,000 traders were attracted to compete for a total of 3000 USDT prize pool and free airdrop of Dsdaq platform tokens, the Original D or OD for short. Traders will use $100,000 demo fund as the initial margin and will be ranked by profit.

dsdaq

Trade with Dsdaq Demo Account and Win USDT

Dsdaq is very innovative considering that crypto traders can use their BTC, ETH or USDT as collateral to trade traditional financial assets such as stock, index, gold, oil, etc. “This feature is pretty new for most crypto traders so it is crucial to launch this demo trade function so that our users could explore the great innovation without investing real money’, said Sara, the spokeswoman of Dsdaq.

All competition participants need to do, once the competition starts, is to use the virtual funds provided in their crypto collateral wallet and to buy or sell any financial assets on the platform during the competition period from October 27, 2020 (6:00 am HKT) to November 6, 2020 (6:00 am HKT).

Enjoy market volatility during the competition

The competition is now heating up as participants begin to practice their trading skills to win the amazing prizes and the market becomes more volatile as time gets closer to the US election. Sara said, “This competition is a good chance for every trader to practice their trading skills, get familiar with crypto collateral accounts, and find out the investment pleasure of seizing financial market volatilities.”

Once the competition ends, traders with the highest final net value on their demo accounts will share the competition’s prize pool of 3000 USDT, among whom the first place could receive a whopping 1500 USDT prize. Moreover, each participant who completes the game will get a free airdrop of 5 OD.

About Dsdaq

Dsdaq is the first trading platform that offers crypto collateral accounts for traders and functions mainly as the bridge connecting the crypto and financial markets.

Dsdaq caters to traders of all levels. After the launch of Dsdaq demo account, traders are allowed to practice their trading skills in Dsdaq, which makes the platform more friendly to beginners.

All Dsdaq users could enjoy trading with very low fees. What’s more, Dsdaq offers up to 30% commission of trading fee as affiliate earnings. Unlimited profit potential is within reach when trading crypto contracts with up to 100x leverage in Dsdaq.

For more information, please visit https://www.dsdaq.com/.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/crypto-collateral-exchange-dsdaq-hosts-global-demo-trading-competition/

Continue Reading

Trending