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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.

The post Daily Altcoin Review: ETH/USD, LTC/USD Ranging, Fundamentals Supportive appeared first on Ethereum World News.

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Litecoin Price Analysis: Clean Bullish Pullback Opportunity on LTC/USD

Litecoin has formed higher lows and higher highs, moving inside an ascending trend channel on its 1-hour chart. Price just bounced off the resistance and is due for a pullback, possibly until the bottom of the channel around $130.

Applying the Fibonacci retracement tool on the latest swing low and high shows that the 61.8% level lines up with the channel support. This also coincides with an area of interest or a former resistance that might hold as support moving forward.

Price is currently testing support at the mid-channel area of interest near the 38.2% to 50% Fibonacci retracement levels, which might already be enough to keep losses in check. If so, litecoin could resume its climb to the swing high at $140.679 or to the channel resistance closer to $142.500.

The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside or that the uptrend is more likely to resume than to reverse. The bottom of the channel is also near the 100 SMA dynamic inflection point, which adds to its strength as a floor. A break below support could still bounce off the 200 SMA dynamic support around $125 as the line in the sand for the climb.

Stochastic is moving up to show that buyers have the upper hand, so litecoin could follow suit. RSI, on the other hand, is still heading south so the correction could on for a bit longer until this oscillator hits oversold levels and turns back up.

Sentiment in the cryptocurrency has been mostly positive recently, owing to the prospect of higher liquidity in the industry and the recent acquisition of Earn.com by Coinbase. However, the dollar is putting up a pretty decent fight on account of upbeat economic data and easing geopolitical risks.

Litecoin just got listed on Korbit, which is the biggest bitcoin and ethereum exchange in South Korea, leading to a brief spike in its value.

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Litecoin Setting Up for an Out-Break: LTC/USD Analysis – Oct 3 prediction

Litecoin price in the last 24-hours is turning downside-ish a bit for a start of the week on Monday, as it hovers around $53. A possible break above certain resistance could take place near-term for LTC against the USD.

Litecoin Creating Ground for Gain – LTC/USD

LTC price has taking the lower turn today [Oct 2nd] and dropped to $53.84 (time of the writing) as it meets supports at around $53.00 like the days before. This is caused by the resistance that is waiting at the $55.00 mark which for now is the major psychological barrier and so it causes a range bound effect.

ltc forecast

Source: Coinmarketcap

If we look at the longer-term, the moment the pair LTC/USD closed above the $55.00 mark was just before going for the $100 mark when it did hit its all time high value. So in the ‘bigger picture’ despite today’s drop, the price is creating a stable trading ground just below the resistance level so in the case of a break out it could go over the $60.00 or even higher.

Short/Mid-term sellers could be waiting at that point which will be tanking the value to take another test on the record mark, however on the longer term a very possible $75 for trading ground could be made real.

The stable range-bounding trading ground that LTC/USD creates after any increase or rally is very unique and what made Litecoin cement its position as the 5th largest cryptocurrency by market capitalization.

Look for dips to buy and keep the trading size small until for now as the market looks like did very gallantly restructure itself on the critics and crackdowns by regulation.


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Litecoin Price Analysis – Sep 29 Daily LTC/USD Prediction

Litecoin price had recently one of the most stable performing development out of the top-ten cryptocurrencies leading by market capitalization. LTC/USD is on the ‘step-door’ for a major change in its value and trading to settle.

Until recent news took-wings to spread out about the Chinese authority crackdown on the exchanges and the regulation to be done, Litecoin (as its known) had a very stable increasing trading ground reaching close to $57.

Litecoin forecast

Source: Coinmarketcap

In a short amount of time, after climbing to $55-$57, two sessions of attempts to break above the major resistance level $60 were experienced but with no luck.

The recovery rally in a constant trading route has created long-running and short term supports to hoist and keep the price up above any break lower. If the market trend continues in the positive return from the drop, Litecoin will most likely to be following as it broke once above a bearish trend on the hourly chart.

For now any plans for trading, keep in mind that the pair LTC/USD could remain between $45-$57 for some time before leaving or any major breakthrough.

Concluding from that, respecting and taking notes of any spike or major clear above $60 or below $45 should be considered before trades are put into action.

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Litecoin Price Analysis: LTC/USD Prediction after Market Reverse Sep 16

Considered Bitcoin’s counterpart, the news and regulations declared yesterday did struck Litecoin very hard making any possible supportive trading level to be of no help in the near term.

From the trading ground of $60 mark it did very swiftly drop to the monthly lowest of $32.03 with a market cap of only $1.7 billion which is $3 billion in negative compared to the all-time high levels. But as aggressive bulls were awaiting the best start-buying moments after the sellers took control of the market the table did turn on a quick note.

The pair LTC/USD has recovered over $20 in price in the last 24-hours with 21.03% in the positive up to $52.48 with a market cap of $2.7 billion adding up a strong $1 billion in a day. Against the Bitcoin market, Litecoin is stil behind on -0.63% which should be expected for now as the market is very volatile and the pack leader is being the initiator on major changes however it is awaited that altcoin will be following “the golden coin”.

litecoin prediction

Source: Coinmarketcap

Trading volume in the last 24-hours are over $1.5 billion which has not happened since the record breaking price over $90 with a trading volume around $1.7 bln. Asian exchanges are leading with Bithumb around $400 million with 25%, OKCoin.cn $300 million second with 20% and Huobi in the third place with around $200 million trading volume at 13%.

However, any recovery and return in price will be awaited with major resistances at the $60 level on a bearish note. The specific resisting zone now previously was an important supportive level and a stable trading ground for Litecoin against the US dollar as the price did range bound between $60-$70 for some time.

In this case a retest of lower levels could take place so wait for that moment before starting of any longer booked positioning profit.


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Litecoin Price Heading the right Increasing Way – Asian Exchanges Turn the Game

Leaving behind a very price tanking and struggling to-hold ground week, for the near term it seems the market has recovered from the rumors and its on the right way of upward continuation.

Bitcoin is still very war from its highest mark last reached of close to the $5,000 mark, however many see this as a golden opportunity to get their hands on BTC because it could be a rare case of such a dip. On the other hand all other leading virtual currencies at the top of the list are showing quite some optimistic steps for more gain, Litecoin specifically is having the best momentum of the top-ten by market cap.

The Silver Coin Recovering with Stable Steps

The correction after the major increases reaching all-time highs should be acknowledged by any trader and investor but with the market volatility recently many agree that its not a positive signal. However, we have to keep in mind that the cryptocurrency market is very well known how swiftly and easily prices can rebound, recover and return despite the news that could change the community confidence or the market structure.

When it comes to Litecoin, things are looking better than expected. This week started with a strong 5.73 percent gain in the last 24 hours, which would make LTC the best performing after the last market declining of the top digital currencies. This brought Litecoin back to the race hoisting it up over the major psychological mark of 65$ (time of press – $66.09). The surge is also noted on the BTC market with 4.22% in the last day.

litecoin prediciton

Source: Coinmarketcap

Having in mind that the Chinese market plays a major role on the LTC price changes and on the whole market it should be worth to notice if the exchanges based there are still playing any role or not. While knowing that if in case the latest rumors are true for the Chinese GOV to ban bitcoin and crypto exchange altogether than the LTC market there could be drying up. However things are looking very differently today – Monday Sep 11.

OkCoin.cn is leading with $113 million trading volume in the last 24 hours dominating the complete LTC market for a strong 24%. Then following Huobi with 19.00% and so on. This clearly signal no cryptocurrency exchange ban in the near term at all – According to Coinmarketcap.

litecoin trading

Even that the price is around $5 lower in value in Chinese exchanges, the above mentioned data is showing how much does the market in the particular country effect the price. If the ban happens, investors will be liquidating their assets which would not be looking good at all for The Silver Coin.

The Altcoin and the future network developments are looking better than ever before, so in the long term it could be better than what we expect. In the same way that Litecoin is showing us right now.


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