Litecoin Price: Is an Upward Correction Imminent?
The litecoin price is facing the bullish effect that is haunting the bitcoin market over the few last days. LTC/USD dropped below $1.70, but bulls came to the rescue quickly. Hours after the low of $1.69 was hit, buying pressure pushed the litecoin price closer to the levels reached before today's crash. LTC/USD currently trades close to $1.73 while the market is still heavily pressured by large sell orders. Lower volume and resistance. While we did see some decent resistance at the $1.70 level today, the volume is still down. Although the resistance at the previous lows is visible, not....
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Altcoin prices have stopped at their respective key levels, after moving along upward trends. Such stops could provoke prolonged downward corrections. ETH/USD. Ethereum has continued its upward trend. A turn at a key level of $9.7 did not happen. Thus, Ethereum’s price has formed a powerful upward momentum, reaching the maximum of March. At this point, a flat is forming. For a deeper correction to continue, Ethereum’s price has to exit that flat. The market will decide on the direction of the next wave at the level of $12.9. Either the whole downward movement is a correction toward the....
Litecoin reached 68% 24 hours gains today crawling up to $2 again and surpassing it. Its gains for today outranked all major cryptocurrencies. However, many investors are worried that this is just a pump and dump. The correction was in fact quite swift as litecoin sits at around 35% gains right now. The correlation between bitcoin and litecoin. We all know that litecoin was created envisioning a lite version of bitcoin. That's sort of how it works when it comes to trading as well, and there has always been a strong correlation between bitcoin's and litecoin's price. When compared, the....
The ETHUSD, LTCSUD, and DASHUSD markets are all undergoing mild upward trends. The coming week could bring radical changes. ETH/USD. Ethereum’s price is fortifying at the medium-term level of $9-10. A rebound off $10.21 could become the peak of a correction within the downward trend, unless the price manages to form a turn to growth. The fortification indicates that the odds are lying with an upward trend, but for a more certain signal, Ethereum’s price has to form a turnaround wave by fortifying at the level of $10 and breaking through the peak of the trend again. Until that happens, the....
The altcoin markets were dominated by upward trends this week. Will that growth continue into the new week? Ethereum’s price has formed a weekly flat. That was expected because the price has reached a long-term resistance line where a change of cycles usually happens. For either an upward or a downward medium-term trend to begin Ethereum’s price has to form a structure which will clearly indicate which side holds the advantage. If it fortifies at $9.5 and forms a turn to growth it will display that the bulls are a majority. In that case, a medium-term upward trend is most likely to begin.....
Bitcoin’s price is undergoing a correction toward the long-term upward trend. For how long will this correction last, and at which point is the long-term upward trend most likely to continue? What has caused the start of this correction? One of the key long-term levels was near $760-80. A long-term downward trend has been forming along that price as far back as 2014. The price of $760-80 has become a key level. The placing of the correction level of the Fibonacci grid 38% has given more significance to that range. That’s why it could be called a historical maximum, which was later....