Connect with us

Litecoin

Litecoin price weekly analysis: Price shocks

Published

on

Litecoin shows good stability either side of crazed trade as a result of a fork in midweek trading.

Key takeaways

  • Fork of the Litecoin blockchain sees frenzied trading disrupting Litecoin stability
  • Litecoin loses over 25% of value in correction resulting from fork
  • Litecoin’s stability beginning to regain some of its reputation

Litecoin (LTC) was officially forked this week causing huge interest in LTC and the new forked coin. This interest saw a huge spike in trading volume for LTC. The spike equalled almost double the week’s regular trading activities. According to Charlie Lee, founder of LTC, Litecoin Cash has nothing to with LTC and is a Scam coin in his opinion.

Regardless of the Litecoin Cash fork, The irregular spike in interest around LTC meant that markets temporarily found LTC to be overpriced and a heavy correction followed. Dipping by more than 25%, the price LTC moved erratically until after the market storm had lifted according to information from CoinMarketCap.

Despite the instability the fork cause the price of LTC, LTC has shown some encouraging signs of stability returning a little to its reputation of being a stable alt-coin. Whether this kind of stable trading volume and price can continue is unclear. Some good signs are appearing on the horizon though.

Price movements

LTC started trading the week at a healthy US$226.50 and soon made a week high of US$251.81 on the back of some positive news, according to CoinMarketCap.

The high soon gave way to crushing lows, stripping way over 25% of the value of LTC. The week’s low for LTC came at US$184.07 and can be seen as a correction from an over excited market.

Considering the disruptive week LTC has shown some evidence of its trademark stability. Despite the losses, LTC has closed out the week only 7% down from this time last week at US$209.58.

Market capitalisation

LTC market cap fell largely in line with pricing differentials. Beginning the week at US$12.5 billion, LTC made a strong upwards bound to US$13.9 billion.

From those heights LTC market cap came down with a thud landing 27.33% the wiser, after a heavy correction.

Markets considered LTC as undervalued and provided liquidity that saw LTC market cap move upwards near early week levels to close out the week at US$11.6 billion.

Trading volume

Despite the disorderly trading LTC saw midweek, The the other 75% of the week saw very stable trading volumes. Outside of the frenzied trade LTC traded at no less that US$1 billion.

To put that in context, the highest trade volume of LTC saw a chaotic market place just shy of US$2 billion worth of LTC trades.

Advertisement //pagead2.googlesyndication.com/pagead/js/adsbygoogle.js (adsbygoogle = window.adsbygoogle || []).push({});

Litecoin

Litecoin (LTC/USD) forecast and analysis on June 18, 2019

Published

on

Cryptocurrency Litecoin (LTC/USD) is trading at 135.63. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.

Litecoin (LTC/USD) forecast and analysis on June 18, 2019

As part of the Litecoin course forecast, a test level of 132.60 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 152.00. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 127.50.

Litecoin (LTC/USD) forecast and analysis on June 18, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotes pair below 126.20 area. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on June 18, 2019 implies a test level of 132.60. Further growth is expected to continue to the area above the level of 152.00. The conservative area for buying Litecoin is located area of 127.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 126.20. In this case, we should expect the continuation of the fall.

News Source

Continue Reading

Litecoin

Litecoin (LTC/USD) weekly forecast on June 17 — 23, 2019

Published

on

Cryptocurrency Litecoin (LTC/USD) is trading at 134.20. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Litecoin (LTC/USD) weekly forecast on June 17 — 23, 2019

As part of the Litecoin course forecast, a test level of 120.00 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 178.20. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 98.50.

Litecoin (LTC/USD) weekly forecast on June 17 — 23, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotes pair below 95.20 area. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) weekly forecast on June 17 — 23, 2019 implies a test of the level of 120.00. Further, growth is continued to the region above the level of 178.20. The conservative area for buying Litecoin is located area of 98.50. The cancellation of the option of cryptocurrency growth will be the breakdown of the level of 95.20. In this case, we should expect the continuation of the fall.

News Source

Continue Reading

Litecoin

The First time Bitcoin hit $10k, ETH Traded at $450. Will history repeat itself?

Published

on

Bitcoin crossed $9k earlier today and has been above that since then. The price could be heading towards $10k in the next few days, no way to tell. However, comparing historical price growths, Ethereum rose to $450 the last time Bitcoin hit the $10k mark. The question is will the trend repeat itself in the current bull market?

The price surge for Bitcoin has not been very friendly towards altcoins and although the alts are also pressing to go up, they are not rising as fast as Bitcoin. Like Bitcoin, Ethereum, the second largest cryptocurrency by market cap has made an impressive move upwards as well. However, the price is not as close to $450 as Bitcoin is to $10,000.

Bitcoin at the current price of $9,088 will only need nearly $1000 to hit $10,000. Ethereum, on the other hand, is at $270, requiring just about $180 to hit $450. However, the rate of price gain for Ethereum seems slow enough for Bitcoin to hit $10,000 first as Bitcoin has demonstrated a much faster growth.

Things may change a little later though and history could repeat itself. A technical analyst known on Twitter as Rekt Capital pointed out a rather “new paradigm”. Bitcoin dominance in the cryptocurrency market is rising simultaneously with the altcoin market cap.

This is indeed curious because as at yesterday, Bitcoin dominance was making significant progress and there was fear of it surpassing 60% and trampling altcoins in the process.

A simultaneous rise of the two could, therefore, be a pointer to the possibility of history repeating itself with Ethereum hitting $450 when Bitcoin hits the $10k price level. This may just be one of the several repeated patterns that have been highlighted.

The Bitcoin market has particularly demonstrated several similarities with previous patterns that point to a strong bull market. There has been a panic that altcoins would be left behind if Bitcoin dominance grew disproportionately, but with the recent indication of simultaneous growth, a bull market for all could be coming soon. According to the charts, Bitcoin dominance has reduced to 57% signaling hope for altcoins.

News Source

Continue Reading
Advertisement
Advertisement