EOS [EOS], Stellar Lumens [XLM], Litecoin [LTC] struggle to hit key resistance levels; Technical analyses and latest updates 20443
Analysis
Priyanka Babu
Aug 7, 2018 at 3:08 AM

EOS, Stellar [XLM] and Litecoin [LTC] are on a downward ride today. All three pairs are trading well below their key resistance levels and look like it will take some considerable time before they resume an uptrend.

EOS/USD

EOS prices are currently facing consolidation and are battling to stay above $7. The prices found support at $6.95 and are exhibiting an uptrend in progress. The current resistance level can be traced at $7.13 and is expecting a breakout since the prices appear to be resuming an uptrend. At the time of writing EOS is trading at $7.011 and is dipping against USD by 0.49%. The 100 EMA line trading at $7.092 will only exhibit an uptrend if the coin touches the resistance level of $7.13. The MACD signifies a bearish trend.

EOS [EOS], Stellar Lumens [XLM], Litecoin [LTC] struggle to hit key resistance levels; Technical analyses and latest updates-BCFocus

EOS Latest updates

  • Block.one, the blockchain company behind EOSIOplatform, concluded its first-ever EOS Global Hackathon at ICC Sydney in Australia on Sunday. Three teams from Australia won the top prizes taking home over 120,000 USD. The hackathon witnessed over 200 international participants from more than 50 teams. The event saw people programming for 26 hours.
  • MyEOSKit created by one of the original top 21 block producers (BPs) of the EOS launch EOS Asia, has made the lives of EOS users a lot easier. The portal serves as a one-stop shop for everything EOS, according to the BP’s co-founder, Joseph Fanelli. The portal can be used as a block explorer, a network monitor, and a voting tool for Block Producers. It can also be used to create accounts, manage vote proxies, bid on names in the auction market, and even as a wallet.
  • EOS CTO Daniel Larimer proposed ways to lower the capital cost of using EOS He explained the system by writing on Medium blog post. He also added how to make it easy to rent from the network. “We present a solution for lowering the capital costs of using network and CPU resources on EOSIO based blockchains,” explained Larimer.

See Also: Ethereum [ETH], Ripple[XRP], Bitcoin Cash [BCH] record downtrend: Technical analyses and latest updates

XLM/USD

XLM is on a downtrend. It is currently trading at $0.232 and is dipping against USD by 3.52%. Yesterday’s prices closed at a $0.244 however, today the prices have further declined and looks like it will close below $0.235. The MACD signifies a continuing bear momentum since the beginning of the month. The prices are trading well below the key resistance level set at $0.3317 and is also away from the second key resistance level set at $0.318. The prices need to reach above $0.270 to register a stable uptrend.

EOS [EOS], Stellar Lumens [XLM], Litecoin [LTC] struggle to hit key resistance levels; Technical analyses and latest updates-BCFocus

Stellar Lumens Latest Updates

  • The stellar project has received an approval from the Central Bank of Bahrain as Sharia compliant. This declaration implies that Stellar now has a Sharia Certification, which is indicative of an approval from the Islamic law. The official notification stated that the project is the "the first distributed ledger protocol to receive Sharia compliance certification in the money transfer and asset tokenization space. Additionally, the Sharia compliance certification extends to applications and usages of lumens (XLM)."
  • China's biggest cryptocurrency exchange platform - HuobiGlobal- announced that it will allow trading of Stellar [XLM] from July 26. The firm said deposits are being made available from July 25 and withdrawals from July 28.

LTC/USD

Litecoin is exhibiting major fluctuations in its trading patterns. The prices are struggling to retain a bullish momentum according to MACD trendline. The prices were on a stable uptrend yesterday, however, resumed a downtrend today after reaching the resistance level of $76.150. The prices which didn’t find support the entire day has currently found support at $73.067 and is rising gradually. The 100 EMA line trading at $75.1856 is a showing a continuing downtrend. LTC is currently trading at $73.419 and is losing against USD by 2.40%.

EOS [EOS], Stellar Lumens [XLM], Litecoin [LTC] struggle to hit key resistance levels; Technical analyses and latest updates-BCFocus

 

Litecoin Latest Updates

  • com the payments and cryptocurrency platform announced that Litecoin (LTC) has been added to its MCO Wallet App. Earlier MCO wallet was known as Monaco. The platform enables the trading of four major cryptocurrencies such as bitcoin (BTC), ether (ETH), Binance Coin (BNB), and CRYPTO.com's MCO.
  • The allegations of Litecoin’s intend to replace Bitcoin has been put to rest. A study conducted by eToro suggests that Litecoin (LTC) isn’t aiming to unseat Bitcoin(BTC). The report goes on to state that LTC actually plays more of a supportive role to Bitcoin like silver does with gold.
  • Litecoin founder Charlie Lee announced the "promising" Sparkswap project on August 2. The upcoming project is described as a mode of conducting cryptocurrency trading without sharing the user's data with a third party platform. The attractive features of the project include its fast transaction speed and trading across various platforms. Currently, transactions are is conducted across the Bitcoin and Litecoin blockchain platform.Image via ShutterstockJoin our telegram group