Markets

Cryptocurrencies Show Their Love On Valentines Day: Litecoin, Monero, VeChain Are Winners

The crypto crowd sure knew how to show their love on Valentines Day. It was a great day in the market with all top 20 cryptocurrencies ending the day with gains.

Litecoin was the winner of the game, seeing a 33% gain ending the day at $212. Monero’s XMR was next with 14.98% gains, followed by VeChain at 14.52%. The latter two are lesser known altcoins ranking 13 and 18 respectively in the cryptocurrency market cap ranking.

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Monero and its Malware Controversy

Monero is a privacy-focused coin which has hit the headlines recently thanks to a piece of malware mining it in secret on Android devices. The malware redirects users to websites that tap into a device’s processing power to mine the Monero cryptocurrency.

For example, U.S. online news publication, Salon has adopted this unconventional alternative to ads to make money. They are using a reader’s computing power to mine Monero.

The way they do is by giving readers that don’t want ads to appear on content an option to “suppress ads.” This allows Salon to use a reader’s unused computing power to mine virtual currency.

Monero’s XMR Price Action

Monero’s coin is called XMR, and it saw similar types of patterns in terms of gains and pullbacks as other major cryptos in the past month. XMR/USD currently making its way back up to key resistance levels.

Monero’s XMR Ichimoku Fibonacci Technical Analysis

While it remains below the daily Ichimoku cloud, it appears to have bottomed out at the 78% Fibonacci retracement level of $165.88. At the time of writing, it is testing the pivot level and 50% Fibonacci level of $277.70. The future Ichimoku cloud is bearish and is acting as a key resistance zone.

Let’s see how deep the love is for Monero as more people become aware of the malware.

Litecoin Update

Litecoin extended its gains to 35% earlier on Thursday, entering the daily Ichimoku cloud with a strong bullish force. This is despite the hard fork rumors that impacted the digital currency earlier in the week.

This article was originally published on InvestDiva.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Kiana Danial

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert. She is a highly sought-after professional speaker, author and executive coach who delivers inspirational workshops and seminars to corporations, universities and entrepreneurial groups. She is a frequent expert on many TV and radio stations and has reported on the financial markets directly from the floor of NYSE and Nasdaq. She is a weekly investment expert guest on Tokyo’s #1 Investment TV Show. She has been featured in The Wall Street Journal, TIME Magazine, CNN, Forbes, The Street, and numerous other publications. Kiana’s book "Invest Diva's Guide to Making Money in Forex" was picked by McGraw-Hill only two years after she first moved to the US, and was an immediate domestic and international success. At a young age, she has won numerous awards including Best Financial Education Provider at Shanghai Forex Expo in 2014, New York Business Women of Influence Honoree in 2015, and Pro Bono Humanitarian Award by IA Bar Association in 2013. Born and raised in Iran to a Jewish family as a religious minority, she was awarded a scholarship from the Japanese government to study Electrical Engineering in Japan, where she obtained two degrees in Electrical Engineering and researched on Quantum Physics in classes conducted in the Japanese language. Being the only girl and foreigner in her classes made her decide to dedicate her life to empowering minorities, especially women in male dominated industries. As the CEO of Invest Diva, Kiana’s goal is to empower and educate women to grow their wealth by investing like a ROCK STAR.

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