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Market crash: XRP, Litecoin [LTC] slump by 9% and 12%; support-level breach possible

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Today, the cryptocurrency market looks more than depressed as all the top-10 coins continue to slump at a ferocious rate. From Bitcoin [BTC] to Tron [TRX], all the coins have plunged by at least 9%. Here, XRP, the second-largest cryptocurrency, is showing a downfall of 9.5%, while the ninth-largest coin, Litecoin [LTC] has gone down by 12%.

The credit for the crash could be given to the hard fork of Bitcoin Cash [BCH] that has led the market into such doom. In the third week of November, Bitmain, the largest mining player in the space, shifted its focus from the BTC ecosystem to handle the BCH war with its opponent, Craig Wright, and nChain.

When Bitcoin began to crash, the coins in its correlation crashed along with it. Since then, the cryptocurrency market has not seen much of the bull as the bearish run does not want to take a leave.

At the time of writing, XRP was trading at a depreciated price of $0.3, with a market cap of $12.3 billion. The 24-hour volume is set at $619.2 million.

XRPUSD 30-minute candlesticks | Source: tradingview

XRPUSD 30-minute candlesticks | Source: tradingview

When the 24-hour cycle began, XRP was trading at a fair price of $0.34, where its market cap was $13.7 billion. However, the coin saw an elimination of almost $2 billion in the market cap in just a day wherein the lowest cap was recorded at $11.9 billion with the trading price of $0.29.

As of Litecoin, the coin is currently trading at $26, with a market cap equivalent to $1.5 billion. Here, its total trading volume in the past 24 hours was observed to be $453.7 million.

LTCUSD 30-minute candlesticks | Source: tradingview

LTCUSD 30-minute candlesticks | Source: tradingview

During the 24-hour cycle, the cryptocurrency touched a high of $30, with a market cap of $1.8 billion but soon crashed down to trade at $25 where its market cap was recorded at $1.5 billion. Therefore, LTC saw a total wipeout of at least $300 million in its market cap over the period of a day.

Source.ambcrypto

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Litecoin

Litecoin Forecast and Analysis May 20 — 24, 2019

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Litecoin LTC/USD ends the trading week at 86.37 and continues to move through the growth and upward channel. Moving averages indicate a bullish trend. At the moment, we can expect an attempt to test the support area near the level of 73.05. Where can we expect a rebound again and an attempt to continue growth on Litecoin with a potential target above the level of 125.55.

Litecoin Forecast and Analysis May 20 — 24, 2019

An additional signal in favor of the growth of LTC/USD quotes in the current trading week of May 20 — 24, 2019 will be the support line test on the relative strength index (RSI). The second signal will also be a rebound from the lower boundary of the rising channel. Cancellation of the litecoin decline option will be a strong growth and a breakdown of the 62.55 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in LTC/USD. Confirmation of the growth of cryptocurrency will be a breakdown of the upper boundary of the downward channel and closing of quotations above the level of 105.55.

Litecoin Forecast and Analysis May 20 — 24, 2019

Litecoin Forecast and Analysis May 20 — 24, 2019 implies an attempt to test the support area near the level of 73.05. Then continued growth in the region above the level of 125.55. An additional signal in favor of the rise of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the area of ​​62.55. This will indicate a continued decline in cryptocurrency with a target below the level of 45.50.

-News Source

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Bitcoin

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils

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Bitcoin rallied past $8,000 last week and showed good resilience in maintaining its bullish momentum. Bitcoin was priced at $7,915.81 with a market cap of $140.18 billion and registered $23.46 billion in 24-hour trading volume.

Litecoin stood fifth in the list of top-10 cryptocurrencies with a market cap of $5.71 billion and $3.98 billion in 24-hour trading volume. The coin was priced at $92.46, at press time.

1-Day BTC

Source: TradingView

The one-day BTC chart showed that there was an uptrend from $4,008.79 to $8,195.17. The chart specified that the resistance lines stood at $7,307.15, $6,444.50 and $5,505.74 and there were two support lines at $3,755.01 and $3,171.51.

Moving Average Convergence Divergence [MACD] indicator pointed at a bullish crossover.

Parabolic SAR indicator displayed a bullish trend as the dotted markers were below the candles.

Relative Strength Indicator indicated a bullish trend as the market was in the overbought zone. However, a correction seemed to be in the offing.

1-Day LTC

Source: TradingView
The one-day chart of LTC showed two uptrends. The first was from $42.23 to $91.40 and the second was from $91.40 to $102.85. The resistance line stood at $102.52 and the supports were present at $60.58 and $32.06.

Bollinger Bands exhibited a high rate of volatility in the market.

The Awesome Oscillator indicated a bullish buying opportunity in the LTC market as the short-term momentum was greater than the long-term momentum.

Chaikin Money Flow chart was below the zero-line, indicating that money flowing out of the market.

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Litecoin

Litecoin (LTC/USD) forecast and analysis on May 19, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 88.89. 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 May 19, 2019

As part of the Litecoin course forecast, a test of 85.20 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 103.50. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 82.50.

Litecoin (LTC/USD) forecast and analysis on May 19, 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 80.20 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 May 19, 2019 implies a test level of 85.20. Further growth is expected to continue to the area above the level of 103.50. The conservative area for buying Litecoin is located area of 82.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 80.20. In this case, we should expect the continuation of the fall.

-News Source

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