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Litecoin (LTC) Price Analysis: Buyers Back In Control

Litecoin price formed a decent support near the $22.20 level and recovered later. LTC is currently trading nicely above $25.00 and it could extend gains in the near term.

Key Talking Points

  • Litecoin price rallied recently and moved above the $24.00 and $25.00 resistances (Data feed of Kraken) against the US Dollar.
  • There is a key bullish trend line formed with support at $24.50 on the hourly chart of the LTC/USD pair.
  • LTC price remains supported on dips and it may rise above the $26.20 and $26.50 resistances.

Litecoin Price Forecast

After forming a decent support base near the $22.00-22.20 zone, litecoin price started a fresh rally against the US dollar. The LTC/USD pair traded above the $24.00 and $25.00 resistance levels to move into a positive zone.

Looking at the chart, LTC price even settled above the $24.00 level and the 100 hourly simple moving average. It spiked above the $26.00 resistance and a new weekly high was formed near the $26.60 level.

The price traded as high as $26.59 and later corrected below the 23.6% Fib retracement level of the recent wave from the $22.27 low to $26.59 high. However, there are many supports on the downside near the $25.00 ad $24.50 levels.

Moreover, there is a key bullish trend line formed with support at $24.50 on the hourly chart of the LTC/USD pair. The trend line is close to the 50% Fib retracement level of the recent wave from the $22.27 low to $26.59 high.

Therefore, if the price dips from the current levels, it is likely to find support near the $25.00 or $24.50 levels. On the upside, an initial resistance is at $26.10, above which there is a chance of more gains above the $26.59 high in the near term.

Overall, litecoin is positioned nicely above the $24.50 pivot level and dips remains supported. LTC is likely to extend gains in the near term above the $26.00 and $27.00 levels. The next stop for buyers could be near $30.00.

The market data is provided by TradingView.

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Daily Altcoin Review: ETH/USD, LTC/USD Ranging, Fundamentals Supportive

Latest Ethereum News

In a milestone case— Copytrack Pte Ltd v Wall–noted by the University of Oxford Faculty of Law and published by the Business Law Blog, it is likely that relevant laws shall apply regarding claims of lost or stolen cryptocurrencies. The ruling made against the defendant, Brian Wall, mandates that the plaintiff and coin issuer Singapore’s based Copytrack Pte, shall trace and recover coins from “whatsoever hands the coins might be held at”.

Read: Ethereum (ETH) Futures Rumors Mount, As CBOE’s Bitcoin Foray Turns One

The defendant mistakenly received 580 ETHs from Copytrack instead of 580 PTY tokens after participating in an ICOs.

This is an important ruling that could help protect businesses or individuals who wire funds to the wrong addresses going on to demonstrate how blockchain technology is not only governed by codes and smart contracts but by applicable rules set by a given jurisdiction.

At the moment specialist companies are developing. However, in the future, it will become easy for the rightful owners to track and recover funds once they appear on supporting wallets.

ETH/USD Price Analysis

With a market cap of $9.25 billion, ETH is the third most valuable coin in the space. But it could reclaim its spot if prices surge above $100 and later $160. From candlestick arrangement, prospects of ETH/USD expanding above $100 is a tall order and largely depends on the resuscitation of BTC prices.

As it is, ETH is in range mode oscillating within a $17 range with limits at $100 and $83—Dec 7 lows. As mentioned in previous analysis, bears are in control but for trend shift and invalidation of the bear breakout pattern than saw ETH sink below $100 on Dec 6, then buyers must gain momentum and rally above $100.

This shall jolt buyers into action buying on dips with stops at $90 and first targets at $130 and later $160—the main resistance previous support line.

Our ETH/USD Trade plan is as follows:

Buy: $100

Stop: $90

Targets: $130, $160

 

Latest Litecoin News

In an audio interview with Helio Executive John O’Shea, the lending firm said it will issue loans backed with cryptocurrencies including Litecoin (LTC), XRP, BTC and ETH shortly after receiving a credit license from the regulator.

Also Read: 7 Major Exchanges Join Forces to Enhance the Crypto Ecosystem in South Korea

Meanwhile, HTC’s Exodus 1 was featured at the Slush Conference in Helsinki, Finland. The blockchain tailored smart phone which will ship pre-loaded with the Brave Browser will retail for 19.74 LTCs and the company has Litecoin’s founder as its consultant.

LTC/USD Price Analysis

LTC/USD Price Analysis

On a weekly basis, LTC/USD is down 18 percent but quite stable in lower time frames. Despite hints of higher highs and absorption of sell pressure without price swings, bears are technically in charge and could get worse if prices sink below our minor support at $20 or Dec 7 lows.

From simple candlestick arrangement, we shall recommend patience until after there are convincing breaks above the $5 range marked by Dec 8 highs at $25 and floors at $20. Before then, sellers have a real chance of driving prices lower in a trend continuation move that could see LTC print $2 by end year.

Of course, that is undesirable but the only time buyers would be in control is when there are solid moves above $25. That could thrust prices towards $40 and later $50 re-invigorating the market in the process.

This is our LTC/USD Trade Plan assuming bulls take charge:

Buy: $25

Stop: $20

Targets: $40, $50

All Charts Courtesy of Trading View

This is not Investment Advice. Do you Own Research.

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Litecoin (LTC) Price Analysis: Bracing For Fresh Rally

Litecoin price is forming a solid support above the $22.00 level. LTC seems to be forming a base for a major upward move above $25.00 and $30.00.

Key Talking Points

  • Litecoin price remained well bid above the $22.00 support area (Data feed of Kraken) against the US Dollar.
  • There was a break above a major bearish trend line with resistance at $23.65 on the hourly chart of the LTC/USD pair.
  • LTC price may perhaps start a fresh upward move as long as it is above $20.00.

Litecoin Price Forecast

Recently, we saw a nasty decline towards the $20.00 support in litecoin price against the US dollar. The LTC/USD pair traded as low as $22.20 and later it started forming a support base above $22.00.

Looking at the chart, LTC price climbed higher recently and traded above the $25.00 level. However, the price failed to gain bullish momentum above the $26.00 resistance and the 100 hourly simple moving average.

As a result, there was a fresh decline and the price retested the $22.00 support area. Buyers protected further declines and pushed the price above $23.50. There was a break above the 23.6% Fib retracement level of the recent decline from the $26.57 high to $22.78 low.

Moreover, there was a break above a major bearish trend line with resistance at $23.65 on the hourly chart of the LTC/USD pair. The pair tested the $25.00 resistance and the 50% Fib retracement level of the recent decline from the $26.57 high to $22.78 low.

It is currently trading lower, but there is a strong support formed near the $23.00 and $22.00 levels. Therefore, there are high chances of a fresh bullish wave above the $25.00 resistance and the 100 hourly SMA in the near term.

The current price action is short term bearish below $25.00. Having said that, it seems like LTC sellers are exhausted, which could result in an upward move towards $30.00 in litecoin as long as there is no break below $22.00.

The market data is provided by TradingView.

The post Litecoin (LTC) Price Analysis: Bracing For Fresh Rally appeared first on Ethereum World News.

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Litecoin Price Analysis: LTC/USD Remains Sell Near $26 and $30

Litecoin price declined heavily and traded close to $22.00. LTC/USD is currently recovering, but upsides are likely to be capped near $26.00, $28.00 or $30.00.

Key Talking Points

·         Litecoin price declined sharply below the $35.00 and $30.00 support levels (Data feed of Kraken) against the US Dollar.

·         There is a crucial bearish trend line formed with resistance at $26.00 on the hourly chart of the LTC/USD pair.

·         LTC price is likely to struggle near the $26.00, $28.00 and $30.00 resistance levels.

Litecoin Price Forecast

In the last analysis, we discussed that litecoin price couldbe dear near $20.00 against the US dollar. The LTC/USD pair remained in a bearish zone and traded below the $28.00 and $26.00 support levels.

Looking at the chart, LTC price declined close to the $22.00 level and settled below the 100 hourly simple moving average. A new multi month low was formed at $22.26 and later the price started an upside correction.

It moved above the $24.00 level and the 23.6% Fib retracement level of the last drop from the $30.10 high to $22.26 low. However, the upward move was capped by the $26.00 and $26.50 resistance levels plus the 100 hourly SMA.

More importantly, there is a crucial bearish trend line formed with resistance at $26.00 on the hourly chart of the LTC/USD pair. The pair also failed near the 50% Fib retracement level of the last drop from the $30.10 high to $22.26 low.

Therefore, the price is likely to face a strong resistance near $26.00 and the 100 hourly SMA. Above the trend line and $26.00, the price is likely to test the next major resistance near $28.00.

To sum up, litecoin price remains in a major downtrend as long as it is below $30.00. If LTC attempts an upside correction, it could face sellers near the $26.00, $28.00 and $30.00 resistance levels. On the downside, the recent low at $22.20 is a decent support, followed by the $20.00 handle.

The market data is provided by TradingView.

 

 

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Litecoin Price Analysis: LTC/USD Could Be Dead Near $20

Litecoin price is down more than $300.00 from the all-time high. LTC/USD is likely to test the $20.00 level and it could continue to bleed in the near term.

Key Talking Points

  • Litecoin price extended losses below $35.00 and traded towards $25.00 (Data feed of Kraken) against the US Dollar.
  • There was a break below a declining triangle pattern with support at $27.00 on the hourly chart of the LTC/USD pair.
  • LTC price is likely to extend the current decline towards the $20.00 support level in the near term.

Litecoin Price Forecast

This week, we saw a slow and steady decline from the $35.00 resistance level in litecoin price against the US dollar. The LTC/USD pair broke many important supports near $32.00 and $30.00 and fell further into a bearish zone. All major cryptocurrencies are down heavily, including bitcoin, ethereum, ripple, neo, eos and bitcoin cash.

Looking at the chart, LTC price declined below the $28.00 support recently and settled below the 100 hourly simple moving average. The recent decline was such that there was hardly any substantial recovery above the $30.00 level.

Moreover, there was a break below a declining triangle pattern with support at $27.00 on the hourly chart of the LTC/USD pair. It opened the doors for a test of the $25.00 support level.

The price spiked below $25.00 and formed a new multi month low near $24.90. The current price action is super bearish and it seems like the price may continue to slide. Litecoin is back to pre-rally levels (rally from $20.00 to $360.00) and it seems like sellers are in full control.

An initial resistance is near the $26.50 level and the 23.6% Fib retracement level of the recent decline from the $30.11 high to $24.91 low. However, the main resistance for buyers is near the $28.00 and $30.00 levels, which were supports earlier.

Moreover, the 50% Fib retracement level of the recent decline from the $30.11 high to $24.91 low is near $27.50 to act as a solid hurdle for buyers. Therefore, litecoin price may continue to slide and it seems like LTC may even test the $20.00 level.

The market data is provided by TradingView.

The post Litecoin Price Analysis: LTC/USD Could Be Dead Near $20 appeared first on Ethereum World News.

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Litecoin Price Analysis: LTC/USD Could Be Dead Near $20

Litecoin price is down more than $300.00 from the all-time high. LTC/USD is likely to test the $20.00 level and it could continue to bleed in the near term.

Key Talking Points

  • Litecoin price extended losses below $35.00 and traded towards $25.00 (Data feed of Kraken) against the US Dollar.
  • There was a break below a declining triangle pattern with support at $27.00 on the hourly chart of the LTC/USD pair.
  • LTC price is likely to extend the current decline towards the $20.00 support level in the near term.

Litecoin Price Forecast

This week, we saw a slow and steady decline from the $35.00 resistance level in litecoin price against the US dollar. The LTC/USD pair broke many important supports near $32.00 and $30.00 and fell further into a bearish zone. All major cryptocurrencies are down heavily, including bitcoin, ethereum, ripple, neo, eos and bitcoin cash.

Looking at the chart, LTC price declined below the $28.00 support recently and settled below the 100 hourly simple moving average. The recent decline was such that there was hardly any substantial recovery above the $30.00 level.

Moreover, there was a break below a declining triangle pattern with support at $27.00 on the hourly chart of the LTC/USD pair. It opened the doors for a test of the $25.00 support level.

The price spiked below $25.00 and formed a new multi month low near $24.90. The current price action is super bearish and it seems like the price may continue to slide. Litecoin is back to pre-rally levels (rally from $20.00 to $360.00) and it seems like sellers are in full control.

An initial resistance is near the $26.50 level and the 23.6% Fib retracement level of the recent decline from the $30.11 high to $24.91 low. However, the main resistance for buyers is near the $28.00 and $30.00 levels, which were supports earlier.

Moreover, the 50% Fib retracement level of the recent decline from the $30.11 high to $24.91 low is near $27.50 to act as a solid hurdle for buyers. Therefore, litecoin price may continue to slide and it seems like LTC may even test the $20.00 level.

The market data is provided by TradingView.

The post Litecoin Price Analysis: LTC/USD Could Be Dead Near $20 appeared first on Ethereum World News.

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Tether (USDT) Flips Litecoin (LTC) In a Sign of the Times

Cryptocurrency, Litecoin (LTC), Tether (USDT)–As the crypto markets fall into another price rout to kick off the final month of the year, with the price of Bitcoin dropping below $3800, controversial stablecoin USDT has managed to flip Litecoin to become the seventh largest cryptocurrency by market capitalization.

Litecoin, the invention of industry mainstay Charlie Lee and often described as the silver to Bitcoin’s gold, has been in near continuous price fall since reaching an all time high of $350 in December 2017. While the coin has tracked value of Bitcoin closely over the year, moving in a similar direction as the number one currency by market capitalization, it was a series of related events that set off the precipitous price fall last December which led to the 91 percent drop in value.

The rise of Bitcoin Cash including the Coinbase listing fiasco led to a fast erosion of BTC pricing, as investors became unsure of which coin would reign supreme following the bull run. This had subsequent effects on LTC pricing, which, as previously mentioned, has typically moved in price alongside Bitcoin. In addition, founder Charlie Lee, who had established himself as an integral and beloved leader for the currency and community of LTC, announced he had sold his entire holding of the coin and would gradually be making efforts to distance himself from the project in an effort to promote decentralization. Charlie also made a series of Twitter posts cautioning investors to not get too greedy in the bull run, and to expect a severe bear market following that could last for several years (a prediction which has proven salient in the closing month of 2018.

While some came to the defense of Lee, stating that his actions would benefit Litecoin in the long-run by removing himself as the focal point for the currency, many investors felt that Lee had acted irresponsibly with his announcements, in particular given the timing of the sell-off coinciding with LTC reaching an all time high. The end result was a disastrous drop in price, similar to that experienced by nearly all altcoins throughout 2018, with the price of LTC extending well below what it traded for midway through last year.

Tether, the parent company behind USDT, has not been without its share of controversy this year despite seeing its token climb the ranks of market capitalization. USDT, unlike most cryptocurrencies, has its value pegged to that of a single U.S. dollar. While the currency is supposed to backed 1:1 with dollars held in reserve by Tether, a series of investigations and self-auditing has failed to provide definitive proof to investors, even with the company changing banks in November.

Given the severity of the bear market throughout 2018, it’s unsurprising that more development focus is switching away from market-valued cryptocurrencies to coins that provide similar features but with the price stability of an external source. Last month, EWN reported on a gold-backed stablecoin being featured in an article by Bloomberg on the the best investment advice for 2019. Just yesterday, Chinese crypto billionaire Li Xioalai provided an update on his position leading up a new stablecoin, despite previously making remarks that he would no longer invest in blockchain projects due to corruption.

While cryptocurrency adoption remains on the rise with most community members optimistic for 2019 and beyond, the rise of stablecoins could continue a trend that sees price-unstable coins, such as Bitcoin and Litecoin, failing to find favor for developers and those accepting the coins for marketplace transactions.

The post Tether (USDT) Flips Litecoin (LTC) In a Sign of the Times appeared first on Ethereum World News.

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Tether (USDT) Flips Litecoin (LTC) In a Sign of the Times

Cryptocurrency, Litecoin (LTC), Tether (USDT)–As the crypto markets fall into another price rout to kick off the final month of the year, with the price of Bitcoin dropping below $3800, controversial stablecoin USDT has managed to flip Litecoin to become the seventh largest cryptocurrency by market capitalization.

Litecoin, the invention of industry mainstay Charlie Lee and often described as the silver to Bitcoin’s gold, has been in near continuous price fall since reaching an all time high of $350 in December 2017. While the coin has tracked value of Bitcoin closely over the year, moving in a similar direction as the number one currency by market capitalization, it was a series of related events that set off the precipitous price fall last December which led to the 91 percent drop in value.

The rise of Bitcoin Cash including the Coinbase listing fiasco led to a fast erosion of BTC pricing, as investors became unsure of which coin would reign supreme following the bull run. This had subsequent effects on LTC pricing, which, as previously mentioned, has typically moved in price alongside Bitcoin. In addition, founder Charlie Lee, who had established himself as an integral and beloved leader for the currency and community of LTC, announced he had sold his entire holding of the coin and would gradually be making efforts to distance himself from the project in an effort to promote decentralization. Charlie also made a series of Twitter posts cautioning investors to not get too greedy in the bull run, and to expect a severe bear market following that could last for several years (a prediction which has proven salient in the closing month of 2018.

While some came to the defense of Lee, stating that his actions would benefit Litecoin in the long-run by removing himself as the focal point for the currency, many investors felt that Lee had acted irresponsibly with his announcements, in particular given the timing of the sell-off coinciding with LTC reaching an all time high. The end result was a disastrous drop in price, similar to that experienced by nearly all altcoins throughout 2018, with the price of LTC extending well below what it traded for midway through last year.

Tether, the parent company behind USDT, has not been without its share of controversy this year despite seeing its token climb the ranks of market capitalization. USDT, unlike most cryptocurrencies, has its value pegged to that of a single U.S. dollar. While the currency is supposed to backed 1:1 with dollars held in reserve by Tether, a series of investigations and self-auditing has failed to provide definitive proof to investors, even with the company changing banks in November.

Given the severity of the bear market throughout 2018, it’s unsurprising that more development focus is switching away from market-valued cryptocurrencies to coins that provide similar features but with the price stability of an external source. Last month, EWN reported on a gold-backed stablecoin being featured in an article by Bloomberg on the the best investment advice for 2019. Just yesterday, Chinese crypto billionaire Li Xioalai provided an update on his position leading up a new stablecoin, despite previously making remarks that he would no longer invest in blockchain projects due to corruption.

While cryptocurrency adoption remains on the rise with most community members optimistic for 2019 and beyond, the rise of stablecoins could continue a trend that sees price-unstable coins, such as Bitcoin and Litecoin, failing to find favor for developers and those accepting the coins for marketplace transactions.

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Litecoin Price Analysis: LTC/USD Resumes Significant Downtrend

Litecoin price topped near the $37.00 level and declined recently against the US Dollar. LTC/USD remains in a significant downtrend and it could even trade below $26.00.

Key Talking Points

  • Litecoin price recovery failed to gain momentum above $36.00 (Data feed of Kraken) against the US Dollar.
  • There was a break below a major bullish trend line with support at $32.50 on the 4-hour chart of the LTC/USD pair.
  • LTC price is currently in a significant downtrend and it could trade below $26.00-25.00.

Litecoin Price Forecast

This past week, there was a decent support formed near $26.00 in litecoin price against the US dollar. The LTC/USD pair started a solid recovery and traded above the $30.00 and $35.00 resistances.

Looking at the 4-hour chart, LTC price formed a low and later climbed above the $32.00 resistance. There was a break above the 50% Fib retracement level of the last major decline from the $43.01 high to $26.63 low.

However, the upside move was capped by the $36.60-37.00 zone and the 100 simple moving average (4-hour). Moreover, the price failed to break a major bearish trend line with current resistance at $32.50 on the same chart.

Finally, there was a rejection near the 61.8% Fib retracement level of the last major decline from the $43.01 high to $26.63 low. As a result, there was a fresh decline below $32.00 and a major bullish trend line with support at $32.50 on the same chart.

The price is now trading well below the $35.00 level and the 100 simple moving average (4-hour). It seems like the price may continue to move down and it could break the $30.00 and $28.00 levels.

If sellers remain in action, the price could even break the $26.60 swing low and test the $25.00 support level. Overall, litecoin price remains in a significant downtrend as long as it is below $35.00. If LTC sellers push the price below $25.00, there could be a sharp decline towards the $20.00 level.

The market data is provided by TradingView.

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Litecoin Price Analysis: LTC/USD Primed For More Declines

Litecoin price struggled to hold the $32.00 support and declined further against the US Dollar. LTC/USD could even break the $30.00 support and test the $25.00 level.

Key Talking Points

  • Litecoin price is under a lot of pressure below the $32.00 and $34.00 levels (Data feed of Kraken) against the US Dollar.
  • There was a break below a key triangle pattern with support at $31.80 on the hourly chart of the LTC/USD pair.
  • LTC price is under a lot of pressure and it could dive towards the $25.00 level in the near term.

Litecoin Price Forecast

Yesterday, we discussed the importance of the $32.00 support area for litecoin price against the US dollar. The LTC/USD pair attempted an upward move, but it failed to break the $34.00 resistance, resulting in a fresh decline.

Looking at the chart, LTC price declined recently and broke the $32.50 and $32.00 support levels. The decline was such that the price even broke the $30.00 support area and it is currently well below the 100 hourly simple moving average.

Besides, there was a break below a key triangle pattern with support at $31.80 on the hourly chart of the LTC/USD pair. It opened the doors for more losses and the price traded as low as $29.55.

The price is currently consolidating losses, with a bearish angle below the $31.50 level. An initial resistance is near the 23.6% Fib retracement level of the recent drop from the $34.11 high to $29.55 low.

However, the most important resistance is near the $32.50 level and the 100 hourly SMA. Moreover, the previous support near $32.00 is likely to act as a resistance. The 50% Fib retracement level of the recent drop from the $34.11 high to $29.55 low is also near $32.00.

Therefore, if litecoin price starts an upside correction, it is likely to face sellers near the $31.50 and $32.00 resistance levels. Only a successful close above the last swing high at $34.00 could open the doors a decent recovery. On the downside, LTC is likely to test the $26.00 or $25.00 level.

The market data is provided by TradingView.

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