The hot and happening cryptocurrency market has been dull for some time now, and the period after the dullness is always a trending sharp move, which the market is preparing in the coming times.
The best utility coin, Ethereum (ETH), has also suffered a sharp fall of around 30% from the recent peak and is now consolidating in a range.
Meanwhile, Litecoin (LTC) has been leading the consolidation, gaining over 8% in the last seven days, while major coins like Ethereum (ETH) are trading in a range. The new ERC-20 token DTX Exchange (DTX) is the highest gainer in the market correction, doubling in a month from its launch.
The $2,800 Level Do Or Die For Ethereum (ETH)
Ethereum (ETH) is trading at a crucial level; historically, $2,800 has been a critical psychological level for ETH. First, the range around the level acted as resistance in January of this year; then, after breaking out, it started acting as a support level. Ethereum (ETH) received support from the April and June levels.
The weak point in Ethereum (ETH) is that the short-term moving averages, 10 and 20-period, resist the price. However, the current price action in Ethereum (ETH) looks very constructive, and if it breaks above the immediate resistances, we can reach an all-time high very soon.
Double Bottom Playing Out In Litecoin (LTC)
It is not an ideal double bottom, but the reversal Litecoin (LTC) is seeing is better than the perfect pattern. After bottoming out on August 5, Bitcoin (LTC) increased by more than 30%, taking its market cap above $5 billion and ranking 19th in the cryptocurrency market.
After the move, Litecoin (LTC) formed a bullish flag pattern that was just near the 50-period moving average. This breakout from the flag will push the Litecoin (LTC) price near the descending trendline and to the next resistance of $76.
DTX Exchange: A Mutibagger Opportunity After The Launch
DTX Exchange is a platform for trading cryptocurrencies, stocks, bonds, forex, and commodities. It is constructed on layer one blockchain and purposely made to cater to today’s diverse trader needs by presenting a unique hybrid trading idea that merges the positives of both centralized and decentralized exchanges.
One solution to the liquidity problem DTX provides is distributed market pool funds, which encourage liquidity from different sources, thus enabling lower fees and better platform performance.
DTX Exchange (DTX) has entered the market strongly and collected over $1.4 million in the presale phase. This is a win-win for DTX, as the money they got from selling the tokens suggests that the financiers have full faith in the project. The present price of the tokens is $0.04 each, but it is expected to rise to $0.06 in the next round.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
