Connect with us

Litecoin

Litecoin (LTC) Unlikely To Break Past $65 As Price Runs Into Trend Line Resistance

Published

on

Litecoin (LTC) has been on a roll for the past few weeks and it has now broken past the 61.8% Fibonacci retracement level and is eyeing the 1.272% Fib level to finish this rally. We saw LTC/USD run into the top of the ascending channel soon after it broke past the 61.8% Fib level but it did not decline sharply. Instead, the price started to rise again after a minor pullback and ran into the trend line resistance once again. The price is expected to do the same once more after a small retracement short term. This next rally would most likely result in a test of the 1.272% Fib level at the top of the ascending channel. That is expected to be the final move to the upside before the next major decline sets in.

The halvening FOMO had a big impact on the price of Litecoin (LTC) and we saw the price rise aggressively when the mainstream media started talking about Litecoin (LTC)’s next halvening in August, 2019. We are still a long way from August but considering that Litecoin (LTC) is not a big enough cryptocurrency to be a bought on OTC markets, most of the buying and selling is done on exchanges and when some traders started to see the whales accumulating large amounts of Litecoin (LTC) they followed. This led to the herd following both the whales and the professional traders and the price of Litecoin (LTC) shot up until it topped out on most time frames. Please note that whenever the whales want something so bad, they want to create a negative experience.

Chart for LTC/BTC (1W)

The way this works is that you prop up the price of an asset prior to an expected development and then you crush its price well before that development (halvening). They have been doing it with stocks, commodities and a plethora of other financial assets for years. Let’s say a company had good earnings and Wall Street wants the stock really bad. So, they crush the price so the retail investor would feel bad about the price going down on positive news. We saw the same happen with Ripple (XRP) when the price kept declining sharply during its Swell Conference in 2017. A lot of people took this as a sign of weakness but the professionals knew what was going on so they bought the dips. In the weeks after, Ripple (XRP) rose to a new all-time high.

Litecoin (LTC) is having a good run now but when the market starts to decline, a lot of people are going to give up and Litecoin (LTC) is most likely going to get crushed one of the hardest because it has already rallied so aggressively. This will once again result in a lot of people giving up on Litecoin (LTC) but the smart money as always will know when to buy for long term. Litecoin (LTC) is down more than 83% from its all-time high and we expect it to go down further. However, let us not forget that the price cannot just decline 100%. No matter where the bottom is, there is no doubt that it is very close. So, if anything this is the time to be accumulating, not selling.

News Source

Litecoin

Altcoins are rallying once again with Litecoin leading the charge

Published

on

Altcoins are rallying once again with Litecoin leading the charge

The cryptocurrency markets have begun to rally once again with Litecoin (LTC) leading the charge for the top 10 cryptocurrencies, as per data from CoinMarketCap.

After enduring a week of losses, bitcoin jumped by $1,000 within an astonishing thirty minutes yesterday, prompting gains from the altcoin market. However, Litecoin was the clear winner, rising by a whopping 13%.

At the time of writing, Litecoin is trading at $98.98, however, at one stage the altcoin spiked to as much as $100 per token.

Altcoin markets in the green

It seems that the broader crypto markets are all in the green for now, which is a breath of fresh air considering a week of red. Bitcoin once again rallied and defended a critical area above $9,000.

Following the OG cryptocurrency’s moves, altcoins such as EOS, Binance Coin (BNB), Ethereum (ETH), and Bitcoin SV (BSV) have all seen gains between 7 and 12%.

Litecoin takes the prize for top-performing altcoin, leading the pack by an extra 1% in 24-hour gains.

The leading cryptocurrency, bitcoin (BTC) has surged by over 8% in the past 24 hours. After slumping below the $10,000 area yesterday, bitcoin has seen an impressive rally back to trading at $10,400 at the time of writing.

Ethereum has also recovered from several days of lows, managing to climb back to $220 in the past 24 hours.

Notably, Stellar has pushed TRON (TRX) out the top 10 cryptocurrencies as it managed to rally by 7% to exchange hands at $0.088531 at the time of writing.

Bitcoin SV is also up by nearly 7% and exchanging hands at $138 at the time of writing. The altcoin’s rally could be attributed to the recent news that it is now available in Brazil.

In a nutshell, the top twenty cryptocurrencies are all in the green, save for UNUS SED LEO which has seen a 2.8% dip in the past 24 hours to trade at $1.31.

Source

Continue Reading

Litecoin

Litecoin Creator Charlie Lee Says Crypto Traders Should Take Profits

Published

on

Litecoin creator Charlie Lee says crypto traders should take profits when the market is up.

In a new ask-me-anything hosted by Chainnode, Lee talks about market psychology and his decision to sell all of his LTC near the height of the 2017 bull run.

“I didn’t know when the bear market will hit, but I did know that it was bound to happen. Having been in this industry for 6 years at the time, I’ve seen multiple bear and bull markets.

We always overshoot both on the upside and the downside. So when the market has been going up a lot, it’s always good to take some profit. That said, when I sold, I wasn’t thinking of timing the high. That was just luck. No one really knew and I didn’t know. I thought LTC might hit $1,000 at the time.”

Lee says he believes short-term volatility in the crypto market won’t stop LTC and Bitcoin from thriving in the long run.

News Source

Continue Reading

Litecoin

Litecoin (LTC/USD) forecast and analysis on July 20, 2019

Published

on

Cryptocurrency Litecoin (LTC/USD) is trading at 99.58. 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) forecast and analysis on July 20, 2019

As part of the Litecoin course forecast, a test level of 98.20 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 117.20. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator at 76.50.

Litecoin (LTC/USD) forecast and analysis on July 20, 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 72.50. This will indicate a change in the current trend in favor of 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 July 20, 2019 implies a test level of 98.20. Further growth is expected to continue to the area above the level of 117.20. The conservative area for buying Litecoin is located area of 76.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 72.50. In this case, we should expect the continuation of the fall.

News Source

Continue Reading
Open

Close