Daily Altcoin Price Analysis: The Last Week Of The Year – Waiting For Surprises
This is the last week of 2015, thus the coming weekend will already belong to the year 2016. The behavior of any cryptocurrencies can be unexpected now, and the market is ready to give out surprises. So far, it is not about Litecoin, which continues its painfully slow movement in the range of $3.40 - $3.60. The previous boundaries of the price corridor of $3.20 - $3.80 were narrowed, that is caused not by definiteness in the movement of Bitcoin’s price. Meanwhile the exchange rates of the LTC:BTC pair made a start from 0.008 and reached 0.0084 for a short period. We must watch closely the....
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This week Litecoin managed to fall from the level of $3.76, rise back from the level of $3.36 to $3,68, and then again start falling anew. Today the Litecoin price is $3.50 and it moves down. All movements during were week were made with a huge effort, as the strengths of both participants of market opposition – bulls and bears, are now approximately equal. A level of 0.008 in the LTC to BTC pair after all became a strong resistance. Now moving lower than 0.008 is rare. However, it seems that Litecoin will face a decrease throughout the whole of the holidays, though surprises are possible.
This week has been interesting has been full of surprises to say the least. From January 13th to January 15th Bitcoin dropped from a weight priced of 264.35 on Bitstamp to a weighted price of 178.83 exactly 48 hours later. Equivalent to around a 32.4% drop in price in only just two days, it was a reminder that Bitcoin is still a young and volatile currency. While the price has gone back up a little bit (price of Bitcoin is at $210.58), Bitcoin is still down 22.21% this week, as of January 18th. Most if not all cryptocurrencies went down with the main exception being Nushares, which is up....
Litecoin smoothly moved down even though nothing had foretold such a surprising behavior. But suddenly the LTC/BTC pair jumped from 0.088 to 0.094 in just three hours. What was the reason for it? Market manipulation or maybe someone decided to buy a whole bunch of Litecoins urgently. Hard to find out. Now LTC/BTC is on the level of 0.09 and aspires down again. However, Litecoin reached the level of $3.80 gradually decreases to $3.50 for the third time in two weeks. This is an excellent movement for trade in the market, which is always rich with surprises.
Avalanche (AVAX) has displayed recovery on its chart. Over the last 24 hours, the altcoin brought home 4.8% gain. Although, there has been a considerable daily gain, AVAX is trading underneath its long-standing price floor. It is difficult for investors to look at just the daily gain as a good enough reason to buy the coin at the moment. Technical for the coin hasn’t suggested strong bullishness which might suggest that AVAX could be a good buy at the time of writing. Avalanche (AVAX) has lost 8% of its market value in the last week. This forced many investors to liquidate the asset....
XRP and other market movers have continued to face the wrath of the bears. The altcoin has fallen considerably over the last 24 hours. It had secured gains over the past week but since the bulls are back, the coin lost what it had gained. Profit booking has taken over as the market movers witnessed a brief relief rally. Although price of the altcoin surged by 16% over a week, the daily losses have invalidated most of it. In the last 24 hours the coin fell by 3%, bringing its price down to $0.34. The bulls have tired out and surrendered to the bears. Selling pressure has increased as XRP....