Cred Now Enables LTC Holders to Earn Up to Ten Percent Interest on Their Digital Assets – BTC Ethereum Crypto Currency Blog

Cred, a licensed crypto-backed lending and borrowing platform based in California, now supports litecoin. The service will allow LTC holders to earn up to ten percent interest through any of its partners including the Litecoin Foundation, Bitcoin.com, Uphold, and Bitbuy. Since July 2019 Cred allows Bitcoin.com customers to earn interest on BCH and BTC.

Also Read: Cred Merchant Solutions to Help Unbanked Business Sectors

Cred Now Accepting Litecoin

Cred, a licensed lender based in California, has announced that litecoin (LTC) holders will be able to earn up to ten percent interest on their digital assets following a partnership with the Litecoin Foundation. The partnership is expected to help support the altcoin’s development as a portion of the funding generated through the service will be funneled into the LTC developer community.

The platform will allow LTC holders to invest through any of Cred’s partners including Litecoin Foundation, Bitcoin.com, Uphold, and Bitbuy. Litecoin holders will be able to commit to a six-month term and receive monthly interest payments, with the option to roll over pledged assets for additional periods. The company explained that customers will receive the best Cred rates when staking Cred’s LBA utility token. No account minimum is needed and interest is paid out in fiat or cryptocurrency.

“We look forward to supporting the millions of Litecoin wallet holders with a more transparent, equitable set of financial services we have built, thanks to the advancement of blockchain technologies,” stated Dan Schatt, Co-Founder and CEO of Cred. “We’re thrilled to be working with Cred as our financial services partner, offering among the most competitive interest rates on Litecoin,” added Charlie Lee, creator of the altcoin.

Decentralized Banking and Lending Platform

Based in the San Francisco Bay Area, Cred is a decentralized banking platform serving customers in 190 countries with over $300 million in lending capital. It offers interest rates on more than 30 crypto and fiat currencies through its partner network.

In July of last year it was announced that a partnership between Bitcoin.com and Cred allows customers to earn up to ten percent interest on BTC and six percent on BCH invested with the platform. Those with investments over $25,000 have been benefiting from the partnership for the previous few months but it opened to all users, regardless of investment size, on July 15, 2019.

San Francisco Bay Area

Cred also is a member of the Universal Protocol Alliance – a group of cryptocurrency companies and blockchain organizations that want to connect different digital assets in a single network which also includes Bittrex, Certik, Omisego, Blockchain at Berkeley and Uphold. Bitcoin.com Exchange has provided an initial exchange listing for the Universal Protocol Token (UPT) and will also support Universal Protocol Stablecoins, including the Universal Dollar (UPUSD), Universal Euro (UPEUR), in addition to a tokenized version of bitcoin core, the Universal Bitcoin (UPBTC).

In October 2019 the company unveiled Cred Merchant Solutions, a point-of-sale handheld terminal that is meant to support companies that want to accept crypto payments. The Android-based terminal will be deployed to businesses at cost to help them quickly pay taxes and lower transaction fees. It is expected to support business sectors underserved by banks, like the $2 billion+ a year California cannabis industry.

What do you think about Cred now accepting LTC? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Cred Now Enables LTC Holders to Earn Up to Ten Percent Interest on Their Digital Assets appeared first on Bitcoin News.

https://news.bitcoin.com/cred-ltc-earn/

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Author: btcethereumadmin

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA – BTC Ethereum Crypto Currency Blog

The bulls are not waiting for a deeper correction before buying, which shows that the momentum remains strong and the uptrend intact.

A report by investment management firm VanEck shows that Bitcoin can greatly improve the “risk and return reward profile of institutional investment portfolios.” The research shows that even a small allocation to Bitcoin in a portfolio mix of 60% equity and 40% bonds enhanced the cumulative return. 

The best portfolio return was seen with an investment of 3% in Bitcoin, 58.5% in equity and 38.5% in bonds. When Bitcoin was compared with traditional assets such as the U.S. dollar and gold, Bitcoin showed more features that are desirable from an asset class to be used as money. 

Daily cryptocurrency market performance. Source: Coin360

Another Japanese lawmaker said that the government should expedite work on launching a digital yen. The head of the banking and finance systems research commission at Japan’s Liberal Democratic Party, Kozo Yamamoto, said that the nation should launch a digital yen as soon as possible to counter the digital yuan being worked upon by China. This shows how central banks are recognizing the advantages of digitization and are working towards it.

After the sharp rally of the past few days, several major cryptocurrencies are showing signs of tiring out. Let’s analyze whether this is a short-term top or is it a minor correction after which the market will resume its uptrend.

BTC/USD

Bitcoin (BTC) has turned down from $10,188.97. This shows that bears are defending the overhead resistance at $10,360.89 aggressively. Due to the failure of the bulls to scale this level, the short-term traders are also likely to book profits.

BTC USD daily chart. Source: Tradingview

The bears can drag the price to the 20-day EMA at $9,600 but we expect the buyers to step in and defend this level. 

If the BTC/USD pair bounces off the 20-day EMA, the bulls will once again attempt to push the price above the overhead resistance at $10,360.89. If successful, a move to the long-term downtrend line at $11,500 is possible.

Conversely, if the bears sink the price below the 20-day EMA, a drop to $9,097.15 is possible. A break below this level will turn the trend in favor of the bears. Therefore, the traders can book partial profits at the current levels and keep the stop loss on the remaining long positions at $8,900.

ETH/USD

Ether (ETH) has turned down from $230.612. We had expected the bears to aggressively defend the $223.999-$235.70 zone. Therefore, we had suggested traders book partial profits in this zone.

ETH USD daily chart. Source: Tradingview

The first level to watch on the downside is the previous resistance of $197.75, which will now act as strong support. If the price bounces off this support, the ETH/USD pair might consolidate between $197.75-$235.70 for the next few days.

A break above $235.70 will start a new uptrend that can carry the price to $289.221 and above it to $318.238. On the other hand, if the price slips below the critical support at $197.75, it can drop to $173.841. Therefore, we suggest traders keep the stop-loss on the remaining long positions at $190. 

XRP/USD

XRP has turned down from the long-term downtrend line, which is a negative sign. It shows a lack of buyers at higher levels. The price can now dip to the first support at the 20-day EMA, which is at $0.256. 

XRP USD daily chart. Source: Tradingview

If the price bounces off the 20-day EMA, the bulls will try to break above the downtrend line. If successful, the next level to watch on the upside is the $0.31503-$0.34229 resistance zone. The bears will once again mount a stiff resistance in this zone. 

However, if the price drops below the 20-day EMA, the XRP/USD pair can decline to $0.2326. Therefore, the traders can keep the stop loss on the long positions at $0.245.

BCH/USD

Bitcoin Cash (BCH) has been trading around the $450 levels for the past few days. This shows that the demand is drying up at higher levels but the positive thing is that the bulls are still not closing their positions in a hurry.

BCH USD daily chart. Source: Tradingview

However, this tight range trading is unlikely to continue for long. If the BCH/USD pair does not resume its up move soon, the short-term traders are likely to book profits that can drag the price to the support line of the ascending channel at $400. A break below the channel will be the first sign of weakness. 

On the other hand, if the bulls can push the price and sustain above $460, the rally can extend to $500. Both moving averages are sloping up and the RSI is in the overbought zone, which suggests that the bulls have the upper hand. 

BSV/USD

The bulls propelled Bitcoin SV (BSV) above the symmetrical triangle on Feb. 8. This shows that the uptrend has resumed. The next level to watch on the upside is the lifetime highs at $458.74.

BSV USD daily chart. Source: Tradingview

However, if the bulls fail to sustain the price above $337.80, a drop to the 20-day EMA at $293.2 is possible. If the price bounces off this level, the bulls will again attempt to resume the up move.

Conversely, if the price dips below the 20-day EMA, the BSV/USD pair can drop to $236. If this support holds, the pair might remain range-bound between $236-$337.80 for a few days.

LTC/USD

Litecoin (LTC) turned down from $78.4145 on Feb. 9. The bears will now try to drag the price to the support at $66.1486. We expect this support to hold. Both moving averages are sloping up and the RSI is close to the oversold zone, which suggests that bulls have the upper hand.

LTC USD daily chart. Source: Tradingview

If the price bounces off $66.1486, the bulls will again try to scale above $80.2731. If successful, the uptrend will resume and the next level to watch on the upside is $96.439.

However, if the price again turns down from $80.2731, the LTC/USD pair can remain range-bound for a few days. A break below $66.1486 will signal weakness.

EOS/USD

EOS broke above the stiff overhead resistance at $4.8719 on Feb. 9. This is a huge positive as it shows that the bulls are keen to buy at higher levels. If the price sustains above this level, a rally to $6 is possible.

EOS USD daily chart. Source: Tradingview

Currently, the bears are attempting to drag the price back below $4.8719. If the price sustains below $4.8719, it will signal that the breakout was a bull trap. Below this level, the drop can extend to the $4.24 to $4.0 support zone.

A bounce off the support zone will keep the EOS/USD pair range-bound for a few days. The pair will turn negative on a break below $4.0.

BNB/USD

The momentum in Binance Coin (BNB) carried it above the overhead resistance level of $23.5213 on Feb.9. This is a huge positive as it shows demand at higher levels. If the bulls can sustain the price above $23.5213, a move to $29 is possible.

BNB USD daily chart. Source: Tradingview

However, the rally of the past few days has pushed the RSI deep into overbought territory, which points to a possible consolidation or a minor correction in the next few days. The first support to watch on the downside is the $23.5213 to $21.80 zone.

A bounce off this zone will signal strength and will increase the possibility of a rally to $29. On the other hand, if this zone gives way, the decline can extend to the 20-day EMA at $19.84. The traders can trail the stops on 50% of the long position to $21 and keep the rest at $19.

XTZ/USD

The bulls aggressively purchased the dip to $2.01 on Feb. 8 and have successfully pushed the price above the first overhead resistance at $2.50. Tezos (XTZ) can now move up to the next resistance at $2.90.

XTZ USD daily chart. Source: Tradingview

The rally of the past few days has pushed the RSI deep into the overbought territory, which suggests that the XTZ/USD pair is backed by momentum. If the momentum can carry the price above $2.90, the rally can extend to $3.35. 

However, when the RSI is deeply overbought, it increases the possibility of a correction. The first support on the downside is $2.25 and below it $2.0.

ADA/USD

The bulls are facing resistance close to the overhead resistance at $0.065229. The failure to propel the price above this level has attracted profit booking by the short-term traders. Cardano (ADA) can now dip to the first support at $0.0560221. 

ADA USD daily chart. Source: Tradingview

If the ADA/USD pair bounces off $0.0560221 or from the 20-day EMA at $0.0543, the bulls will make another attempt to push the price above $0.065229. If successful, a move to $0.08 will be on the cards.

On the other hand, if the bears can sink the price below the 20-day EMA, a drop to $0.0461161 is possible. Therefore, the traders can keep the stops on the remaining long positions at $0.054.

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 HitBTC exchange.

Original Article
Author: btcethereumadmin

Litecoin Foundation Partners With Cred to Let Holders Earn Interest – BTC Ethereum Crypto Currency Blog

The Litecoin Foundation partnered with cryptocurrency lending provider Cred to let LTC holders earn interest from their crypto, receiving up to 10% interest.

Litecoin Foundation is partnering with Cred to offer interest on Litecoin (LTC) collateral, a Feb. 10 press release announced. Cred customers can lock their coins with the provider to earn up to 10% annual percentage rate.

Thanks to the strategic partnership, LTC holders will be able to lend their cryptocurrency at lucrative rates, similar to the various decentralized finance (DeFi) solutions on Ethereum. To benefit from the interest, a commitment of six months is required, with monthly interest payments in either fiat or cryptocurrency.

Other Cred partners such as Bitcoin.com, Uphold and BitBuy will also facilitate the credit process. Alan Austin, director at Litecoin Foundation, explained that the partnership adds an important use case for Litecoin:

“Strong use cases should be one of the most important considerations when evaluating cryptocurrency. In addition to Litecoin’s reliability, use for payments and excellent liquidity, the ability to earn interest at attractive rates through Cred’s platform further strengthens this use case.”

Part of the funds from the joint initiative will be used to help support Litecoin development. This comes amid recent funding inquiries, where Litecoin’s Founder Charlie Lee proposed a voluntary 1% donation to support the foundation’s work.

What is Cred?

Cred is a global cryptocurrency-based lending and borrowing platform. It strives to create a worldwide network for accessing credit and maintaining a global credit history, using the LBA utility token to provide interest rate premiums. It was founded by former PayPal executive Dan Schatt, whom Cointelegraph recently interviewed.

Original Article
Author: btcethereumadmin

What Are Altcoins and Why Are There Over 5,000 of Them? – BTC Ethereum Crypto Currency Blog

According to crypto market capitalization aggregators, there are more than 5,000 cryptocurrencies in existence today and over 20,000 different types of markets. BTC is the oldest and most known digital asset and most everything else has been typically referred to as an “altcoin.” The term refers to any of the thousands of prevalent cryptocurrencies that aim to work alongside bitcoin and each other, or are competing for ultimate domination.

Also read: Bitcoin History Part 5: A Wild Altcoin Appears

Since 2011 the Rate of Altcoin Issuance Has Grown Exponentially

Satoshi’s creation has been around for over 11 years now and there are 5,098 alternative cryptocurrencies (altcoins) that exist next to the creator’s invention. Cryptocurrency historians widely consider the Namecoin network as the very first altcoin and the term ‘altcoin’ was allegedly first described by the developer Andrew Chow.

Namecoin is not depicted in this picture but NMC is considered the first altcoin, launched in April 2011. LTC came out in October 2011 and many other digital currencies followed year after year.

Namecoin was launched on April 18, 2011, and the project aims to decentralize domain registration. Between 2011 and 2014 — before the 2015 blockchain hype — the rate of Altcoin launches started to grow exponentially. Following namecoin, bitcoiners witnessed the birth of ripple, litecoin, peercoin, feathercoin, mastercoin, counterparty, and unobtainium. There are now thousands of digital currencies that used the BTC codebase and developers have changed a few minor details with coins like einsteinium, litecoin, dash, zcash, and novacoin. There are also forks of Ethereum (ETH) with networks like ubiq, ethereum classic, and wanchain. Bytecoin has a unique codebase and also has a plethora of forks including monero, boolberry, and electroneum.

Today there are roughly 5,098 altcoins in existence. If you are interested in checking out all the digital currencies and markets check out markets.bitcoin.com for an aggregated list of coin market caps.

Ripple has the fork stellar and NXT has forks like nem, ardor, and burst. When you travel further down the rabbit hole, you will also find tokens created by networks like Tron, Bitcoin Cash and Ethereum using the TRC20, SLP or ERC20 token standards. Some forks were born directly from the codebase hosted on sites like Github and some forks are created by a blockchain diverging into two different chains. If a group of people tweak the original code and run the software differently than the main consensus rules, they will fork off into a new blockchain scheme.

While some digital currencies are created by copying directly from a coin like BTC’s codebase, other coins have been created by changing the consensus rules and therefore splitting off into a new network.

A Number of Cryptocurrencies Are Dead, But That’s Not Stopping Developers from Creating a Better Bitcoin

Today, the thousands of digital assets in existence are tallied together on market valuation websites like coinmarketcap.com, markets.bitcoin.com, and messari.io. Out of all the cryptocurrencies traded on the open market, the valuation of all 5000+ coins in existence is around $285 billion today. The BTC network captures around 63% of the overall market capitalization with its net value at $183 billion. A December, 2013 historical snapshot from coinmarketcap.com shows that the top ten cryptocurrency market caps were a lot different than they are today. BTC only had a valuation of around $13 billion in December 2013 and the altcoins beneath it were totally different coins than today’s top ten list. The top ten during the last month of 2013 included BTC, LTC, XRP, PPC, NMC, MEC, FTC, WDC, XPM, FRC, and NVC. The top ten list today, in February 2019 includes BTC, ETH, XRP, BCH, BSV, LTC, EOS, USDT, BNB, and XTZ.

Besides BTC, LTC, and XRP the entire top ten list of cryptocurrency market caps has changed. Did you know you can buy and trade many of these digital assets on Exchange.Bitcoin.com? Did you also know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? Check out Bitcoin.com’s services today.

If Satoshi Nakamoto was a genius, people probably wonder why there are thousands of digital tokens in the cryptoconomy. A few people know what they are and where they came from but often think about why altcoins exist. There are lots of reasons why altcoins exist and its mainly because people can do what they want in this permissionless environment. But also, some individuals, groups, and developers believe they can create a cryptocurrency project that outpaces BTC or they’ve created a coin to offer compatibility, but also different features than BTC.

There are many reasons why altcoins exist and the main reason is that anyone can create one in a permissionless fashion. Other people have created altcoins to compete with bitcoin and the projects claim to offer better privacy, more decentralization, or they focus on something that bitcoin cannot do. Out of the thousands of altcoins today, all of the creators will tell you exactly why they believe there’s a need for another cryptocurrency.

Some projects claim to offer better anonymity and some coins aim to tackle a specific industry like entertainment. There are digital assets that provide people with the ability to create their own tokens and develop smart contracts as well. Altcoins exist because Satoshi not only unveiled the Bitcoin network, but the anonymous creator also opened a kind of Pandora’s box in the worlds of tech and finance. Now that the box is open, there’s no going back and it doesn’t seem like the rate of altcoin issuance is slowing down any time soon.

What do you think about the thousands of altcoins in existence? Why do you think there are so many cryptocurrencies in existence today? Let us know what you think about this topic in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Image credits: Shutterstock, Markets.Bitcoin.com, coinmarketcap.com, Pixabay, Fair Use, and Wiki Commons.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post What Are Altcoins and Why Are There Over 5,000 of Them? appeared first on Bitcoin News.

https://news.bitcoin.com/altcoins-why-over-5000/

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Author: btcethereumadmin

Bitcoin Breaks Above $10,000 in Spot Market – BTC Ethereum Crypto Currency Blog

For the first time in three months, bitcoin’s price is being quoted in five digits to the left of the decimal. 

The top cryptocurrency crossed above $10,000 at 04:10 UTC and printed a high of $10,176 during the early European trading hours. That was the highest level since Oct. 26, according to CoinDesk’s Bitcoin Price Index

At press time, bitcoin is changing hands at $10,130, representing 3 percent gains on a 24-hour basis. 

The move above $10,000 is accompanied by an improvement in the on-chain fundamentals and looks sustainable. “This breakout is the real deal. Fundamental investment activity is backing this $10k breakout,” Willy Woo, partner at Adaptive Capital, tweeted early Sunday.

On-chain investor activity
Source: Woodbull.com via Adaptive Capital

With the surge above $10,000, the cryptocurrency’s year-to-date gains have risen to 41 percent and its market capitalization has increased to $183 billion. The cryptocurrency is now up more than $3,500 from the low of $6,425 registered in mid-December. 

Bitcoin picked up a bid below $7,000 in early January and has been rising ever since in a textbook bull move: a steady uptrend with regular low-volume pullbacks testing dip demand.

Bigger gains for altcoins

A majority of top alternative cryptocurrencies (or “altcoins”) are outperforming bitcoin, leading bitcoin’s dominance of the overall cryptocurrency market to fall to 64 percent, the lowest level in seven-months.

Ethereum’s ether token (ETH) is currently trading at $230, the highest level since August, a 78 percent gain on a year-to-date basis. 

Prominent names like litecoin (ETH), EOS, binance coin (BNB) are up 70 to 90 percent and bitcoin cash and bitcoin SV added 120 percent and 250 percent, respectively, according to data site CoinMarketCap. 

These coins, however, are lagging bitcoin on a 24-hour basis.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

https://www.coindesk.com/bitcoin-breaks-above-10000-in-spot-market

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Author: btcethereumadmin

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ADA, XTZ – BTC Ethereum Crypto Currency Blog

Most major cryptocurrencies are nearing stiff resistance levels, which can result in a few days of consolidation or a minor correction.

The institutional investors have maintained their bullish stance on Bitcoin. Though the spot price is yet to hit $10,000, CME Bitcoin futures have already reached the five-figure mark. Additionally, the Bitcoin futures open interest on BitMEX has topped $1.5 billion. This shows that the institutional traders expect the rally to extend further.

Morgan Creek Digital Co-Founder Anthony Pompliano meanwhile has said that his idea of Bitcoin acting as a hedge for portfolios due to its non-correlated nature has only solidified over time. 

He added that Bitcoin moved in the opposite direction to both the S&P 500 index and gold in May 2019 during the trade war. This shows that Bitcoin can add a layer of protection to the portfolio, which no other asset class can do.

Daily cryptocurrency market performance. Source: Coin360

Governors of six major central banks will discuss joint research on central bank digital currencies when they meet for an International Monetary Fund conference in April. 

Japan’s former economy minister Akira Amari wants the “United States to set (digital currency) on the G7 agenda as chair.” Amari is concerned about the possible struggle for currency supremacy should China launch a digital yuan.

Though Bitcoin has risen about 35% year-to-date, its dominance continues to dip, though the total crypto market capitalization is attempting to hit the $300 billion mark. This shows that the “altseason” narrative is still in play.  

BTC/USD

Bitcoin (BTC) has been trading above $9,600 for the past two days, which is a bullish sign. There is a psychological resistance at $10,000 but we expect it to be crossed. The next target to watch on the upside is $10,360.89. 

BTC USD daily chart. Source: Tradingview

We anticipate the bears to mount a stiff resistance at $10,360.89. Therefore, short-term traders can watch this level closely and book partial profit if the bulls struggle to scale the price above it.

However, if the bulls can push the price above $10,360.89, the BTC/USD pair is likely to move up to the long-term downtrend line at $11,500. Both moving averages are sloping up and the RSI is close to the overbought territory, which suggests that bulls are in command. The traders can trail the stops on the long positions to $8,900.

Our bullish view will be invalidated if the pair breaks the series of higher highs and higher lows it has been making since bottoming out in December of last year. The first sign of weakness will be a break below the recent low of $9,097.15.

ETH/USD

Ether (ETH) picked up momentum after sustaining above $197.75 on Feb. 5. The sharp rally of the past three days carried the price above the overhead resistance at $223.999, which is a positive sign. If the price can sustain above $223.999, a move to $235.70 is possible.

ETH USD daily chart. Source: Tradingview

We expect the bears to mount a stiff resistance in the $223.999-$235.70 range. The overbought reading on the RSI also suggests a few days of consolidation or a minor correction. Therefore, the traders can book partial profits in this range and tighten the stops on the remaining long positions to $190. 

We anticipate the bulls to buy the next dip to $197.75. A bounce of this level will increase the possibility of a break above $235.70 but if the level cracks, the ETH/USD pair can dip to the 20-day EMA at $183.72.

XRP/USD

XRP crossed $0.28132 on Feb. 5, which was the minimum target objective of the inverted head and shoulders bottom. The bulls might face some resistance at the long-term downtrend line, which is just above the current levels.

XRP USD daily chart. Source: Tradingview

The RSI is in the overbought territory, which also suggests a correction might be around the corner. A dip from the current levels is likely to find support at the 20-day EMA at $0.25. A break below the 20-day EMA will signal weakness.

Conversely, if the bulls can push the price above the downtrend line, a rally to $0.31503 and above it to $0.34229 is possible. The traders can trail the stops on the long positions to just below the 20-day EMA at $0.245.

BCH/USD

Bitcoin Cash (BCH) soared to our first target objective of $440 on Feb. 5. The bears are currently defending this level but if the bulls can push the price and sustain above it, a move to $500 is possible.

BCH USD daily chart. Source: Tradingview

Though the bulls are in command, the RSI has risen into overbought territory, which suggests a minor consolidation or correction for a few days.

Any dip from the current levels is likely to find support at the 20-day EMA at $374. If the price bounces off this support, the bulls will again attempt to resume the up move. A break below $360 will turn the trend in favor of the bears. 

BSV/USD

The bulls have not been able to sustain Bitcoin SV (BSV) above the resistance line of the triangle in the past two days. This shows a lack of buyers at higher levels. The bears will now try to drag the price to the support line of the triangle.

BSV USD daily chart. Source: Tradingview

The range in the BSV/USD pair has tightened in the past few days. Usually, such price action is followed by a sharp move. However, it is difficult to predict the direction of the breakout.  

If the price breaks out to the upside, $337.80 might offer some resistance above which, a retest of the lifetime highs is likely. Conversely, if the price breaks below the triangle, a dip to $236 and below it to $158.852 is possible.

LTC/USD

Though Litecoin (LTC) broke above the minor resistance at $73.5259, it has not been able to pick up momentum. This shows that the bulls are tiring out and a few days of range-bound action is possible.

LTC USD daily chart. Source: Tradingview

The LTC/USD pair might consolidate between $80.2731 and $66.1486 for the next few days. On a close (UTC time) above $80.2731, a move to $96.439 will be on the cards. We might suggest long positions on the next dip to $66.1486.

However, if the bears sink the price below the critical support at $66.1486, the pair will lose momentum and can extend its decline.

EOS/USD

The bulls are finding it difficult to carry EOS to the overhead resistance at $4.8719. This shows a lack of buyers at higher levels. The altcoin might now dip to the $4.24 to $4.0 support zone.

EOS USD daily chart. Source: Tradingview

If the price bounces off the support zone, it will indicate aggressive buying by the bulls. This will increase the possibility of a breakout above $4.8719. Above this level, the EOS/USD can rally to $6.

Conversely, if the bears sink the price below $4, the pair might lose momentum and drop to the next support at $3.3555. 

BNB/USD

Binance Coin (BNB) picked up momentum after breaking out of $19 levels on Feb. 5. The bulls are currently attempting to sustain the price above the overhead resistance at $21.80. If successful, the next level to watch out for is $23.5213.

BNB USD daily chart. Source: Tradingview

We expect the bears to defend the $21.80 to $23.5213 zone aggressively. If the bulls struggle to push the price above $23.5213, the traders might book partial profits. 

However, if the momentum can carry the price above $23.5213, a rally to $27 is possible. The traders can trail the stops on the long positions to $18. Our bullish view will be invalidated if the BNB/USD pair reverses direction sharply and breaks below $18.50.

ADA/USD

The bears are attempting to defend the overhead resistance at $0.065229. They will now try to drag Cardano (ADA) to the support at $0.0560221. If the support holds, the price might remain range-bound for a few days.  

ADA USD daily chart. Source: Tradingview

If the bulls can push the price above $0.065229, the ADA/USD pair can extend its rally to $0.08. Conversely, the pair will lose momentum if the bears sink the price back below the 20-day EMA at $0.0522. The traders can trail the stop-loss on the remaining long positions to $0.054.

XTZ/USD

Tezos (XTZ) is facing resistance close to the $2.50 mark as suggested in our previous analysis. The RSI has risen into the bought territory, which suggests that a pullback or a consolidation is likely. 

XTZ USD daily chart. Source: Tradingview

If the price turns down from the current levels, it is likely to find support at the breakout level of $1.85. A strong rebound off this support will increase the possibility of a breakout of $2.50. Above this level, the rally can extend to $2.90 and above it to $3.35.

Contrary to our assumption, if the bears sink the price below the critical support at $1.85, the XTZ/USD pair will turn negative.

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 HitBTC exchange.

Original Article
Author: btcethereumadmin

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ADA, XTZ – BTC Ethereum Crypto Currency Blog

Bitcoin’s dominance continues to drop as altcoins outperform the largest cryptocurrency.

Although Bitcoin has rallied about 33% year-to-date, its dominance has dipped to 64.40%,  its lowest level since July 2019. This shows that altcoins have continued to outperform Bitcoin. However, with the Bitcoin halving fast approaching, the digital asset’s volatility is likely to pick up.

Tom Lee, co-founder at Fundstrat Global Advisors, has again turned ultra bullish on Bitcoin and expects a rally to about 200% in the next six months. According to him, historically, whenever Bitcoin has broken above its 200-day moving average, it has recorded an average six month gain of 197%. Lee expects halving to act as a catalyst for the expected up move.

Daily cryptocurrency market performance. Source: Coin360

While we agree that anything can happen in the crypto markets, we believe that Bitcoin will have to scale several stiff resistances before it reaches its lifetime highs. Until it breaks above the lifetime highs and goes into unchartered territory, it will not show the kind of momentum it did in 2017. 

Therefore, traders should be cautious and should take informed decisions without getting carried away by lofty targets. Let’s analyze the charts to locate the critical levels to watch out for.  

BTC/USD

Bitcoin (BTC) dipped below the support of the tight $9,200 to $9,600 range on Feb. 4. However, the bears could not build up on the breakdown. This shows that bulls continue to buy the dips. The upsloping moving averages and the RSI in positive territory suggest that bulls are in command.

BTC USD daily chart. Source: Tradingview

Today, the buyers have carried the price close to the top of the range and then set a new 2020 high at $9,744. The breakout of this tight range is a positive sign and it suggests the BTC/USD pair can rally to $10,360.89, which is likely to act as a stiff resistance.

The short-term trend will weaken if the bears sink the pair below the 20-day EMA at $8,982. Below this level, a drop to $8247.60 is possible. For now, we suggest traders retain the stop loss on the long positions at $8,200. If the price sustains above $9,600, the stops can be trailed higher to $8,900.

ETH/USD

Ether (ETH) is looking strong. The bulls purchased the minor dip on Feb. 4 and have today pushed the price above the overhead resistance at $197.75. If the bulls can sustain the price above this level, the altcoin is likely to pick up momentum.

ETH USD daily chart. Source: Tradingview

Above $197.75, the rally can extend to the next resistance at $223.999 and above it to $235.70. Both moving averages are sloping up and the RSI is in the overbought zone, which suggests that bulls are firmly in command. The traders can trail the stops on the remaining long positions to $180. 

If the bulls fail to sustain the price above $197.75, the ETH/USD pair will lose momentum. The pair will turn negative on a break below the strong support at $173.841.

XRP/USD

XRP has picked up momentum since bouncing off the 20-day EMA on Feb. 2. This shows that as price moves higher, the bears are throwing in their towel. The upsloping 20-day EMA and RSI in the overbought zone indicate that bulls are in command. 

XRP USD daily chart. Source: Tradingview

The next target to watch on the upside is $0.28132, which is the target objective of the inverted head and shoulders pattern. If the bulls can sustain above this level, a rally to $0.31503 will be on the cards.

Our bullish view will be invalidated if the XRP/USD pair turns down from the current levels and breaks below $0.2326. The traders can trail the stops on the long positions to $0.23.

BCH/USD

Bitcoin Cash (BCH) has broken out of the overhead resistance at $403.88 with a sharp rally today. This shows that the bulls have asserted their supremacy. There is a minor resistance at $440 above which, the up move can extend to $500.

BCH USD daily chart. Source: Tradingview

The current breakout has negated the developing negative divergence on the RSI, which is another positive.

Contrary to our assumption, if the bulls fail to sustain the higher levels, the BCH/USD pair might again dip to the recent support at $360. A break below this support will turn the trend in favor of the bears.

BSV/USD

Bitcoin SV (BSV) has bounced off the support line of the symmetrical triangle. This shows that the bulls are defending this level aggressively. They will now attempt to carry the price above the resistance line of the triangle.

BSV USD daily chart. Source: Tradingview

If successful, a move to $337.80 will be on the cards. Above this level, a retest of the lifetime highs at $458.70 is possible.

Conversely, if the BSV/USD pair turns down from the current levels and plunges below the triangle, a drop to $236 is possible. We expect the buyers to defend this support aggressively.

LTC/USD

Litecoin (LTC) bounced off the breakout level of $66.1486 on Feb. 4, which is a positive sign. It shows that the bulls are defending this level aggressively. If the price can sustain above the minor resistance at $73.5259, a rally to $80.2731 is possible.

LTC USD daily chart. Source: Tradingview

We anticipate the bears to defend the resistance at $80.2731 aggressively. However, if the momentum can carry the price above $80.2731, the LTC/USD pair can rally to $96.439.

Our bullish view will be invalidated if the price reverses direction from the current levels and slides below the strong support of $66.1486.

EOS/USD

The tight $4 to $4.40 range in EOS has resolved to the upside. This shows that the bulls have overpowered the bears and the uptrend has resumed. The next level to watch on the upside is $4.8719. 

EOS USD daily chart. Source: Tradingview

We expect the bears to defend the overhead resistance at $4.8719 aggressively. However, if the momentum carries the EOS/USD pair above this level, a move to $6 is possible.

The only bearish setup on the chart is the negative divergence on the RSI. If the price turns down from the current levels or from the overhead resistance and plunges below $4, it will turn the tide in favor of the bears.

BNB/USD

The bulls are attempting to sustain the price above the overhead resistance at $19. If successful, Binance Coin (BNB) can rally to $21.80. Both moving averages are sloping up and the RSI is in the positive territory, which suggests that bulls are in command.

BNB USD daily chart. Source: Tradingview

Contrary to our assumption, if the price fails to sustain above $19, it will signal a lack of demand at higher levels.

The BNB/USD pair will weaken below the 20-day EMA at $17.7 and the trend will turn bearish on a break below $16.50. Therefore, traders can retain the stops on the long positions at $15.90. The stops can be trailed higher after the pair sustains above $19.

ADA/USD

Cardano (ADA) is attempting to resume the uptrend. If the price sustains above $0.586027, a move to $0.065229 is likely. With both moving averages sloping up and the RSI in overbought territory, the advantage is with the bulls.

ADA USD daily chart. Source: Tradingview

The bears are likely to defend the overhead resistance at $0.065229 aggressively. However, if the bulls can propel the price above this level, a rally to $0.08 will be on the cards. For now, the traders can retain the stop loss on the remaining long positions at breakeven.

Our bullish view will be invalidated if the ADA/USD pair reverses direction and plummets below $0.052. Such a move will indicate a lack of buyers at higher levels.

XTZ/USD

Tezos (XTZ) pulled back to the breakout level on Feb. 4, which was a buying opportunity for the traders, as suggested in our previous analysis. The altcoin has resumed its up move with a sharp rally today.

XTZ USD daily chart. Source: Tradingview

The XTZ/USD pair can now move up to its target objective of $3.35. However, it is unlikely to be a straight dash to the target. The pair might face resistance at $2.5 and above that at $2.90. 

Although the deeply overbought reading on the RSI indicates strong momentum, it also suggests that the rally has been too sharp in the short-term and a pullback or consolidation is possible. A break below $1.85 will invalidate our bullish view.

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 HitBTC exchange.

Original Article
Author: btcethereumadmin

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ADA, XTZ – BTC Ethereum Crypto Currency Blog

As the sentiment in the Bitcoin and cryptocurrency markets has turned positive, this dip should be viewed as a buying opportunity.

The recovery in cryptocurrency prices has ignited interest among institutional investors. In 2019, dedicated crypto funds returned more than 16% according to Eurekahedge while traditional hedge fund strategies returned 10.4% according to Hedge Fund Research, Inc. Several hedge funds and large trading firms use speed to their advantage by benefitting from pricing inefficiencies. 

Others profit from the spreads between bids and offers. While such entrants will improve the liquidity and provide depth to the markets, the crypto space will benefit more from investors who are in it for the long-term.

Daily cryptocurrency market performance. Source: Coin360

Bitcoin futures open interest has surged to over $1 billion on both Bitmex and OKEx. It is not only Bitcoin futures that are attracting traders, but even Bitcoin futures options turnover has also surged 70% month-on-month, according to Deribit. 

Increasing open interest with a rise in price is a bullish sign as it shows accumulation. However, as open interest increases, the market also becomes vulnerable to long liquidation if the price turns down sharply. Let’s study the charts to find out whether they indicate a move higher or a correction from the current levels.

BTC/USD

Bitcoin (BTC) has been trading inside the $9,200 to $9,600 range for the past few days. This shows that the bulls and the bears are playing it safe and are avoiding large directional bets. 

If the bears sink the price below the range, a drop to the 20-day EMA at $8,897 is possible. We expect the bulls to defend the 20-day EMA aggressively. A bounce off this support will indicate demand on dips and will increase the possibility of a rally above $9,600.

BTC USD daily chart. Source: Tradingview

With both moving averages sloping up and the RSI in the positive zone, the advantage is with the bulls. If the buyers can push the price above $9,600 and sustain it, a move to $10,360.89 is possible. 

Nonetheless, if the bears sink the BTC/USD pair below the 20-day EMA, a drop to the 50-day SMA at $8,058 is likely. For now, the stops on the long positions can be kept at $8,200. The short-term traders can book partial profits if the price sustains below the 20-day EMA.

ETH/USD

Ether (ETH) bounced off the support at $173.841 on Jan. 31 and reached close to the overhead resistance at $197.75 on Feb. 3. We expect the bears to defend the resistance at $197.75 aggressively.

ETH USD daily chart. Source: Tradingview

However, if the bulls do not give up much ground from the current levels, it will increase the possibility of a breakout of $197.75. With both moving averages sloping up and the RSI close to the overbought zone, the advantage is clearly with the bulls. On a break above $197.75, the next target to watch out for is $223.999. 

Our bullish view will be invalidated if the ETH/USD pair turns down from the current levels and dips below the 20-day EMA at $171.46. The traders can book partial profits on the long positions at current levels and trail the stops on the rest to $170.

XRP/USD

After staying above $0.2326 for two days, XRP bounced off sharply on Feb. 2 and broke above the immediate resistance at $0.25401. The inverted head and shoulders pattern has a target objective of $0.28132.

XRP USD daily chart. Source: Tradingview

The 20-day EMA is sloping up and the RSI is in the positive territory, which suggests that bulls have the upper hand. If the buyers can push the price above $0.28132, a move to $0.31503 is possible.

Our bullish view will be invalidated if the XRP/USD pair turns down from the current levels and breaks below the neckline. Therefore, the stops on the long positions can be kept at $0.21.

BCH/USD

Bitcoin Cash (BCH) has been consolidating between $360 and $400 for the past few days. A consolidation near the overhead resistance is a positive sign as it shows that the buyers are in no hurry to close their positions.

BCH USD daily chart. Source: Tradingview

If the bulls can push the price above the overhead resistance at $403.88, the BCH/USD pair will resume its up move. The next target to watch on the upside is $440 and above it $480. The upsloping moving averages show that bulls are in command. 

However, the developing negative divergence on the RSI warrants caution. If the bears sink the price below the support at $360 and the 20-day EMA at $347, the pair will turn negative and can plummet to $306.78. 

BSV/USD

Bitcoin SV (BSV) has been bouncing off the support line of the symmetrical triangle for the past three days. However, the bulls have not been able to build upon the rebound, which suggests a lack of demand at higher levels.

BSV USD daily chart. Source: Tradingview

If the BSV/USD pair fails to bounce sharply within the next couple of days, the bears will try to break below the triangle. If successful, a drop to $236 is possible. If this support also cracks, the decline can extend to $159.52.

Conversely, if the bulls can carry the price above the triangle and the overhead resistance at $337.80, the pair will attempt to retest the lifetime highs at $458.74.

LTC/USD

Litecoin (LTC) has been trading above the breakout level of $66.1486 for the past three days, which is a positive sign. However, the price has failed to pick up momentum and move up to the next overhead resistance at $80.2731.

LTC USD daily chart. Source: Tradingview

This shows that the bulls are tiring. The RSI in the overbought zone suggests that the near-term rally has been overdone and a pullback is possible.

If the LTC/USD pair breaks below $66.1486, a drop to the 20-day EMA at $60.7 is possible. We expect the bulls to defend this support aggressively. If the price bounces off the 20-day EMA, the bulls will once again attempt to push the price above $80.2731. If successful, the rally can extend to $96.439. 

Our bullish view will be invalidated if the pair dips below the 20-day EMA. In such a case, the decline can extend to the next support at $50.

EOS/USD

EOS has been trading close to $4.24 for the past few days. This is a positive sign as it shows that the traders are not booking profits at these levels. With both moving averages sloping up, the advantage is with the bulls. If the buyers can push the price above $4.4, a rally to $4.8719 is possible. 

EOS USD daily chart. Source: Tradingview

On the other hand, if the bulls fail to scale above $4.4, the EOS/USD pair is likely to dip to the 20-day EMA at $3.82, which should act as strong support.

If the price bounces off the 20-day EMA, the bulls will once again attempt to carry the price to $4.8719. However, if the bears sink the pair below the 20-day EMA, a drop to $3.3555 is possible.

BNB/USD

Binance Coin (BNB) has been hovering around the overhead resistance at $18.50 for the past few days. This shows indecision among the bulls and the bears about the next likely direction. 

BNB USD daily chart. Source: Tradingview

If the bulls fail to push the price above $19 within the next few days, a dip to the 20-day EMA is likely. We expect the price to bounce off this support. If successful, the bulls will again attempt to carry the price to the next overhead resistance at $21.80.

However, if the bears sink the price below the 20-day EMA, a drop to the next support at $16.50 is possible. The traders can keep the stop loss on the long positions at $15.90.

ADA/USD

The bulls are attempting to propel Cardano (ADA) to the next overhead resistance at $0.065229. However, they have not been able to sustain the price above $0.0560221. This shows that buying dries up at higher levels.

ADA USD daily chart. Source: Tradingview

When the price fails to move up, it leads to profit-booking by short-term traders. This can drag the price down to the immediate support. In this case, the failure to move up can sink the price to the 20-day EMA at $0.0488. If the bulls defend this level, the ADA/USD pair will again attempt to move up to $0.065229. 

Our bullish view will be invalidated if the bears sink the price below the 20-day EMA. Therefore, traders can keep the stop loss on the remaining long positions at breakeven.

XTZ/USD

Tezos (XTZ) has soared today that has propelled it to the top 10 list. The altcoin broke out of the stiff overhead resistance at $1.85 on Feb. 2, which completed an ascending triangle pattern. This bullish setup has a target objective of $3.35.

XTZ USD daily chart. Source: Tradingview

However, the RSI has jumped deep into the overbought territory, which suggests that the rally has run up ahead of itself in the short-term. Therefore, a pullback to the breakout level of $1.85 is possible. Such a dip would offer a buying opportunity to the traders.

On the other hand, if the XTZ/USD pair continues to move higher, it can reach $2.475, which might act as a resistance. Our bullish view will be invalidated if the price turns down and sustains below the breakout level of $1.85.

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 HitBTC exchange.

Original Article
Author: btcethereumadmin

ETC, LTC, ADA, MIOTA, ZEC – BTC Ethereum Crypto Currency Blog

The top crypto performers of this week have resumed their up move and are now likely to rally to their next overhead resistance levels.

Several major altcoins have outperformed Bitcoin in January 2020. However, with the reward halving just over three months away, Bitcoin might play catch up. During the previous two halvings, Bitcoin rallied just before and after the event. Weiss Ratings believes that history will repeat itself in the upcoming halving and the only question is how high can the rally extend.

Bitcoin’s current technical set up has a variety of social media personalities feeling bullish about the digital asset’s future price action. In a recent market discussion with Cointelegraph, popular YouTubers The Moon (Carl Runefelt) and DataDash (Nicholas Merten) said that Bitcoin has already entered a bull market when viewed from a longer-term time frame. However, Merten said that a parabolic move is unlikely to start until Bitcoin rises above $20,000. 

Crypto market data weekly view. Source: Coin360

LVC Corporation, the crypto subsidiary of Line, plans to launch trading of its LINK digital currency in Japan from April of this year. Although LINK started trading on Line’s international BITBOX cryptocurrency exchange in mid-October 2018, LVC had to wait for the Japan launch due to the strict national cryptocurrency regulations in the country.

In other news, Twitter has added the Bitcoin emoji, which will show up if the user writes Bitcoin or the BTC hashtag. This new addition was the result of Twitter co-founder and CEO Jack Dorsey suggesting that Unicode, the consortium managing the character standard, include the symbol in its text encoding standard.

So far the top crypto performers of this week have all risen more than 25%, which shows that they are backed by momentum but for long can bulls keep it up? Let’s analyze the charts to see what next week has in store for investors.  

ETC/USD

Ethereum Classic (ETC) is the top performer with a stellar run of about 32% in the past seven days. The network hashrate of ETC hit a new lifetime high recently and has been able to sustain it, which is a positive sign. 

ETC USD daily chart. Source: Tradingview

The bulls struggled to push the price above the overhead resistance at $10 for the past two weeks. However, the positive thing was that they did not give up much ground, which showed that the bulls were confident of a further rise. 

This week, the ETC/USD pair resumed its rally and broke above $10. The sharp up move carried the price to an intra-week high of $12.87278, which is just below the overhead resistance at $14. 

The break above $10 has a target objective of $16.60. Though there is a minor resistance at $14, we expect it to be crossed. If the momentum is strong, the rally can extend to $19. However, as RSI is in the overbought zone, the pair might consolidate or enter a minor correction before breaking above $14.

Our bullish view will be invalidated if the bears sink the price back below the support at $10. Such a move will indicate a lack of buyers at higher levels.

LTC/USD

Litecoin (LTC) has seen a sharp rally of about 31% in the past seven days. This move culminated a strong month for the altcoin where it surged about 65% from the lows. This rally has stoked interest among the market participants because, in 2019, LTC had risen about 350% from January to June.

LTC USD weekly chart. Source: Tradingview

The LTC/USD pair will complete a rounding bottom formation if it closes (UTC time) above $66.1486 on the weekly candlestick. This pattern has a target objective of $96.439.

However, it is unlikely to be a straight dash towards the target level. The bears are likely to defend the zone between the 50-week SMA at $73 and $80.2731. If the price turns down from this resistance zone, a retest of the breakout level at $66.1486 is possible.

If the retest is successful, it might offer a low-risk buying opportunity to the traders. Our bullish view will be invalidated if the bears sink and sustain the price below $66.2486. Such a move will indicate that the current breakout is a bull trap.

ADA/USD

Cardano (ADA), with a rally of about 31% is the third-best performer. During the week Cardano co-founder and CEO of IOHK Charles Hoskinson announced a partnership with PriceWaterhouseCoopers (PwC) to build a new commercial strategy. This news was cheered by the market participants and the price of ADA surged.

In an interview with Cointelegraph, Hoskinson claimed that once all the upgrades of the protocol are implemented, Cardano would become the most decentralized cryptocurrency in the world. 

ADA USD daily chart. Source: Tradingview

The sharp up move this week carried the ADA/USD pair above the overhead resistance level at $0.0461161 and $0.0560221. There is a minor resistance at $0.065229 above which, the rally is likely to pick up steam and move towards its medium-term target zone of $0.10 to $0.10652.

The pair has closed in the green for the past five weeks. This shows that bulls are in command. However, the sharp rise in the short-term indicates that the price might have run up too far too soon. Therefore, we anticipate the pair to face stiff resistance in the $0.0560221 to $0.065229 zone. 

The price might dip to the breakout level of $0.0461161, which might offer a low-risk buying opportunity. Our bullish view will be invalidated if the price breaks down and sustains below $0.0461161. However, we give this a low probability of occurring. 

MIOTA/USD

IOTA (MIOTA) rallied by about 29% in the past seven days to take up the fourth spot among top performers. Bittrex Global added support to the IOTA token this week. 

MIOTA USD daily chart. Source: Tradingview

The rally this week has pushed the IOTA/USD pair above the 50-week SMA at $0.288. There is a minor resistance at $0.334574 above which, the rally can extend to $0.385033. We anticipate the bears to aggressively defend this level.

If the price turns down from $0.385033, the pair might remain range-bound for a few weeks. However, if the momentum carries the price above $0.385033, the next level to watch out for is $0.541.

Our bullish view will be invalidated if the price turns down from the current levels or the overhead resistance and plummets below $0.244553. However, we give this a low probability of occurring.

ZEC/USD

Zcash (ZEC) rallied roughly 26% this week to make the list in fifth place. The Zcash community has approved Zcash mining reward changes that will take effect in November of this year during the coin’s halving. 

ZEC USD daily chart. Source: Tradingview

The ZEC/USD pair has been rising for the past four weeks. Though bears attempted to stall the relief rally at the 50-week SMA, the momentum this week has pushed the price above it.

There is a minor resistance at $66.1326. If the bulls can sustain above it, we do not find any significant resistance until the pair reaches the $125.3636 to 139.66 resistance zone. 

However, if the bulls fail to sustain the price above $66.1326, the pair might again dip to $45.67, which is likely to act as a strong support. If the price bounces off this support, the bulls will attempt to resume the up move. Our bullish view will be invalidated if the bears sink the price below $45.67.

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.

The market data is provided by the HitBTC exchange.

Original Article
Author: btcethereumadmin

‘Litecoin Leads Bitcoin’ — LTC 65% Gains Echo Start of 2019 Bull Run – BTC Ethereum Crypto Currency Blog

Solid returns for Litecoin investors since the new year are leading to suggestions the altcoin could be front-running Bitcoin’s own move higher like last year.

Litecoin (LTC) hit $70 for the first time since September 2019 this weekend, fuelling speculation it will induce a Bitcoin (BTC) bull run.

Data from Cointelegraph Markets and Coin360 showed LTC/USD passing the notable $70 barrier on Feb. 1, going on to claim local highs of $71.50. 

LTC seals 65% monthly returns

As with many major altcoins, the achievement caps a highly successful month for Litecoin, which on Jan. 1 traded at just $43. 

Litecoin price 1-month chart. Source: Coin360

However, the 65% jump caught traders’ attention for one reason in particular. As popular Twitter personality Loma noted on Saturday, Litecoin put in a similar performance in March last year. 

After doubling its price over four weeks, Litecoin gave way to Bitcoin, which began a three-month bull-run culminating in a 19-month record of $13,800.

Analyzing current sentiment, Loma and others now see the potential for the pattern to repeat itself. 

“Litecoin leads bitcoin,” investor Michael Flaum summarized on Twitter on Friday. 

“Litecoin up 5.8% Don’t know why, but it’s a common trend. $10k bitcoin very possible.”

The road to $100K begins

As Cointelegraph reported, multiple trading sources have recently flipped increasingly bullish on Bitcoin’s prospects for this year. 

Having broken out of the $6,000 range, commentators are now broadly convinced that a return to those levels is highly unlikely. 

In a Market Discussion on Friday, two well-known crypto YouTubers added to the sense of anticipation, arguing that at current levels of $9,400, BTC/USD is already in the bull cycle, which could reach at least $80,000.

Original Article
Author: btcethereumadmin