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EBON to $10?! Cryptocurrency Mining and Exchange Trade 🚀EBON is a crypto/telecommunication play. They are best known for their ASIC chip design and manufacture and selling of Bitcoin mining machines. They are receiving extra attention this past few weeks due to them completing chip designing for simultaneous Litecoin ( KRAKEN:LTCUSD ) and Dogecoin ( BITTREX:DOGEUSD ) mining. ”In the future, we will focus on developing more mainstream cryptocurrency mining machines, and we are considering designing more mining chips compatible with multiple cryptocurrencies. We believe it will help increase our revenue from the cryptocurrency mining business and optimize our product offering structure along the blockchain industry value chain.". Right now the crypto market is rallying extremely hard and I think EBON’s status in this market will only increase as crypto receives more and more investments from strong financial powers. EBON is also launching its own cryptocurrency exchange in the first quarter of 2021. They have completed the internal testing of the exchange already. EBON seems to be establishing an international foothold/platform from which to grow. EBON has a subsidiary in Singapore(8/13/20), Australia (10/22/20) and Canada to improve its industrial layout and upgrade its digital asses financial service platform (9/28/20). **Many of these subsidiaries still will have to receive the regulatory approvals and licenses and does not mean EBON will be able to execute their proposed business as planned** Offerings: EBON has offered shares, warrants, and units multiple times this year to raise capital and the stock price has taken a hit each time. Most recently the unit offering resulted in a quick sell off but EBON rallied hard the next day. It seems that this most recent offering included institutional investors to the tune of 14mln units which is very interesting. Chart: Looking at the chart you can notice a 20% sell off from 2/9-2/11 as EBON announced a public offering of up to 16 mln units at $5 per unit. EBON plans to increase to a maximum of 19.2 man units. EBON entered into purchase agreements with institutional investors that agreed to purchase ~14 mln units at initial closing. What I like about this news is the next day we had a 17% rally to test the daily 100 SMA where we were rejected. I think the crypto market being as strong as it is right now is bringing added attention to EBON and we could be on the brink of breaking out of the huge Daily Triangle pattern. $7 is a big resistance lvl that I will be watching closely this week. If we can break and close above on the Daily chart I think we can trigger a bigger rally back to $10. I do think that if this break it will be in the pre-market action this tuesday morning 2/16) Plan: Add shares on $7 breakout if volume confirms. This would get the price over SMA resistances and out of the Value area on the Daily chart. Target: short-term would be 7.70-8.30 range for some profit taking and then riding shares to $10 lvl. Stop: If entering $7 break I would have a stop at $6.75-6.8 lvls. Alternative Plan: if $7 fails I think EBON will test $5.8-$6 HVN seen on the daily and 12h chart. I think this is a good spot to pickup shares for a longer hold play. *With EBON having the crypto mining advancements and crypto exchange news I think it has a strong possibility of rallying back to the highs if the market allows. I do not currently have any positions in this sector and think this is a great add to the portfolio. SPY had a strong Friday close after looking weak wed/thurs so I will keep an eye on it and I will not be entering big if the market is in a questionable state.
NASDAQ:EBONLong
by DOpeTrades
5
LTCBTC – Potential 35% gains LTCBTC – Potential 35% gains BUY: 0.004226 TARGETS: 1) 0.004502 2) 0.004861 3) 0.005261 4) 0.005636 STOP: Close below 0.00395 Rationale: -Volume has been increasing - After the recent leg up it has retested the golden pocket (0.618 – 0.65 fib level) which is a strong level for a bounce -It is currently finding support on the 0.5 fib level which lines up with another support level Your risk, your reward. This is not financial advice. Happy trading.
Long
by ForgeTrades
I saw the lite... coinIt dawned on me last night looking at LTC BTC, what I am going to do with my margin on kraken. I am so 1000% sure ltc is going to break out against bitcoin and it's behind enough for me to load up still! I am going to make all my margin posistiosn as LTCUSD, it doesn't make any sense to pair it against bitcoin, there is no advantage. Anyways, 200$ LTC will be 2000$ LTC before it's all said and done! Of course I have a ton of non margin posistions all over the place, but this is a great one to focus on! Also, if SEC comes in and starts fudding up the place, LTC is a fork of BTC. Which BTC recieved an official pass from SEC a few years ago, so that makes me think LTC should be immune to this scrutiny! I love comments! GL!
Long
by grrface
5
LTCLTC has certainly made its move but it has NOT YET made its ATH unlike BTC and ETH. As long as there is no news that tanks the crypto market then LTC is next. It is consolidating under a resistance that was made waaaaaay back. when LTC goes you will easily see this get to 220s. The Content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. This is not financial advice nor am I a financial adviser. :)
COINBASE:LTCUSDLong
by RozeRoze
4