Connect with us

Litecoin

Litecoin (LTC) Price Action Hints At Further Downside For Bitcoin (BTC)

Published

on

Bitcoin (BTC) started the day in green and kept on surging while Litecoin (LTC) continued to decline. This is because LTC/USD closed below the 21 Day EMA yesterday which was a bearish close that was indicative of further downside in the near future. Litecoin (LTC) started the day in red and has continued to decline. It might find temporary support on the 50 Day EMA but sooner or later we expect it to break below the descending triangle to begin its downtrend. This might lead to the price falling to new lows for the year eventually but before that happens, we might see it find support around the 200 day EMA and bounce from there close to current levels.

Historically, we have seen Litecoin (LTC) as well as most other cryptocurrencies find support on their 200 Day EMA. It usually serves as the level where LTC/USD can be expected to bounce off after an extensive correction. A lot of traders are still confused as to what is going on with BTC/USD but on the LTC/USD front, things are much clearer. We have seen Bitcoin (BTC) follow Litecoin (LTC)’s lead recently and we expect that to continue till Litecoin (LTC)’s halvening in August. Some analysts expect that we might see an altcoin season just because Litecoin (LTC) has its halvening next month. The most likely scenario would be for the price to crash towards the end of the month and start rising close to halvening. That would be a good time to capitalize on the LTC/USD relief rally but we do not see it lasting for long because that is when we expect cryptocurrencies to begin their next downtrend.

There is something investors are very cautious about this time and that is the fact that you can no longer put money in any coin and expect it to moon during the next cycle. Certainly, retail traders will feel this more when they realize their bags are getting nowhere but experienced investors who have been in this space for a long time can already see the shift. People are getting smarter every market cycle and this is why we could see an altcoin cleansing instead of an altcoin rally this year. Litecoin (LTC) was hyped up in anticipation of halvening and it received major price boosts, but if we look at the daily chart for LTC/BTC, we can see that Litecoin (LTC) has a lot more room than most other large cap coins to correct against Bitcoin (BTC).

This means that we might see a sharp correction in Litecoin (LTC) soon after halvening. Considering that Litecoin (LTC) is nothing more than a Bitcoin (BTC) spinoff that claims to make transactions faster and cheaper by posing as a better alternative of Bitcoin (BTC), there is a high probability that Litecoin (LTC) could fail during the altcoin cleansing season this year. Investors that are calling for the next bull run need to realize that we have yet to see maximum pain in this cycle. In 2014, we had Mt. Gox; this time we have Bitfinex and Tether as catalysts. All those that are in the market at this point would be better advised being on their toes because this is no different than playing with fire.  

News Source

Click to comment

Litecoin

Is the Litecoin Halving 2019 Pricing In, As Litecoin (LTC) Just Broke Over The $100 Mark

Published

on

After a massive plunge that pushed the price of Bitcoin (BTC) towards the $9,000 level, the crypto market is now back in the green. At the time of writing, almost all the top cryptos in the market are trading in the green. The price of Bitcoin (BTC) has also surged enormously, and it is now $400 away from hitting the $11k mark. Among the top ten cryptos in the market, the highest gainer over the past day is Litecoin (LTC). The performance of Litecoin (LTC) over the past day outpaced the performance of the rest coins among the top ten.

As soon as Litecoin started surging higher, it reclaimed its position as it recently lost is to Bitcoin Cash (BCH). Litecoin is now back to the fourth position on the list of top digital currencies by market cap. Litecoin (LTC) just broke over a major resistance level, which was its major support level earlier.

Litecoin (LTC) Breaks the $100 Barrier, Is This the Effect of the Forthcoming Litecoin Halving 2019?

Litecoin halving 2019 is just a few weeks away. As the Litecoin halving date approaches quickly, many digital asset investors are expecting the effect of the event to price in on LTC USD price. The price of LTC is supposed to have started responding to the forthcoming bullish event. Many digital asset investors and traders are wondering if this bullish movement shown by Litecoin (LTC) is the start of a massive price rally, as expected.

Prior to the last Litecoin halving, LTC USD price surged by more than 450 percent. This same pattern is expected of Litecoin. However, that massive is yet to start. But the recent upsurge in the price of Litecoin is very impressive and it looks like Litecoin is in for a run. Litecoin (LTC) is currently showing signs of tremendous recovery after a couple of days of weakness.

Litecoin Price Analysis – Litecoin Price Prediction 2019 – Litecoin News Today – Litecoin Halving 2019

Recently, the bears took over the market and all the top cryptos in the market plunged heavily. The price of Litecoin (LTC) broke below the $100 support level. LTC continued its downward movement and broke several support levels. LTC USD price broke below the $90, $80, and $74 support levels.

After testing a new monthly low, the price of Litecoin (LTC) started correcting higher. LTC USD started a sharp rally and broke over several resistance levels. The most significant hurdle Litecoin broke over the past day is the $100 mark. Litecoin has been trading below the $100 level for some days now. The break over that level is a sign that the digital currency is now back in business. Litecoin (LTC) recently tested a new yearly high of $154.

Litecoin (LTC) Price Today – LTC / USD

NamePrice24H (%)
Litecoin (LTC)$98.257.95%

If LTC continues with this trend, it might return to its previous year-to-date high. At the press time, the immediate resistance of the coin is the $105 mark. A break over this level will pave the way for more gains towards the $120 mark. LTC USD live price is $100.54 after an increase of more than 9 percent over the past twenty-four hours. The $98 mark is currently serving as the immediate support of the coin. Litecoin price prediction 2019 is $200. However, some analysts and digital asset investors are giving a Litecoin price prediction 2019 of $800.

News Source

Continue Reading

Litecoin

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

Published

on

Cryptocurrency Litecoin (LTC/USD) is trading at 89.20. 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 middle border of the Bollinger Bands indicator.

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

As part of the Litecoin course forecast, a test of 96.20 is expected. Where should we expect an attempt to continue the fall of LTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 67.50. The conservative Litecoin sales area is located near the upper border of the Bollinger Bands indicator at 98.50.

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

Cancellation of the option to continue the decline in the rate of Litecoin will be a breakdown of the upper border of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotations of the pair above 104.60. This will indicate a change in the current bullish trend for LTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on July 19, 2019 implies a test level of 96.20. Further growth is expected to continue to the area above the level of 67.50. The conservative area for buying Litecoin is located area of 98.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 104.60. In this case, we should expect the continuation of the fall.

News Source

Continue Reading

Litecoin

Litecoin (LTC) Trading Volumes Swelling, Will $100 Stop Buyers?

Published

on

Litecoin (LTC) Trading Volumes Swelling, Will $100 Stop Buyers?

  • Litecoin (LTC) recovery, adds 13.3 percent in 24 hours
  • Ron Paul is a supporter of cryptocurrencies

Despite FUD around cryptocurrencies, Litecoin bulls are active. Rejecting lower prices, LTC could float higher to $100 or better in coming days. Currently, bears will likely press lower since prices are down 17.4 percent week-to-date.

Litecoin Price Analysis

Fundamentals

Undoubtedly, for what they seek to achieve, cryptocurrencies are the building blocks of a borderless future. As Bitcoin’s founder Satoshi Nakamoto laid down the seed that is now blossoming, attracting comments from Donald Trump and high-ranking policymakers, cryptocurrencies now finds itself at a crossroad.

Although bans tend to reinvigorate participation, tempering digital assets and making the network robust as seen in Q4 2017 following China’s ban, there is a risk of a clampdown as regulators force market players to comply with relevant rules.

Even so, not everyone is in sync with Steven Mnuchin or Donald Trump’s view that cryptocurrencies are tools for criminals. Ron Paul, a former Presidential candidate, is fond of cryptocurrencies.

Talking to CNBC, he said:

“I’M FOR THE LEAST AMOUNT OF REGULATION. I DON’T KNOW WHAT’S GOING TO HAPPEN TO CRYPTOCURRENCIES. I THINK IT’S A GREAT IDEA. AND I ONLY HAVE ONE RULE: NO FRAUD […] I THINK THAT THE GOVERNMENT HAS A ROLE. AND SOMEBODY HAS A CASE THAT THERE IS FRAUD, I THINK IT SHOULD BE INVESTIGATED […]  WHAT I WANT TO DO IS LEGALIZE THE FREEDOM OF CHOICE, ABSENT BLATANT FRAUD.”

Candlestick Arrangements

Litecoin LTC

Presently, there is a slight recovery of asset prices across the board. However, this is common after a period of steep price decline. Trading below the $100 round number and the six-month support trend line forming a strong resistance confluence, sellers are in control. Regardless, there is a tinge of optimism.

Following a double bar bull reversal pattern from $75, LTC bulls may print higher. In that case, the first target will be $100. From there, sellers can fine-tune their entry in smaller time frames in readiness for $50 in a possible retest.

On the flip side, if there is a high-trade volume close above $100 ahead of August 5 halving, LTC could float higher towards $120 and $180 in a trend continuation phase.

Technical Indicators

Anchoring this trade plan is June 27 bear candlestick with high trading volumes of 824k. For confirmation of bulls or bears, subject to the direction of the breakout, the leading candlestick must be with high participation exceeding 824k. That will spur demand or liquidation with targets at $180 or $50 respectively.

Source

Continue Reading
Open

Close