Connect with us

Blogs

Litecoin (LTC) showing signs of a major price surge in the coming weeks

Published

on

Litecoin LTC
READ LATER - DOWNLOAD THIS POST AS PDF

The world’s 7th most powerful cryptocurrency by market cap, Litecoin (LTC), has been making headlines and headways recently as the digital coin is finally starting to live up to its name. Currently, Litecoin seems to be fully lit.

In this week, after Monday, the prices of Litecoin (LTC) have been in a bullish trend (technically) rising from its low of 51.05 US dollars to the high of 58.73 US dollars. However, regardless of the good news, the prices of Litecoin (LTC) was resisted, and the prices of the digital coin fell to a low of 55.90 US dollars. Since last week, the price value of Litecoin (LTC) has been depreciating between the levels of 60 US dollars and 50 US dollars.

Today, Litecoin (LTC) prices continue to depreciate between those price levels until the digital coin is broken by price. At present, the prices Litecoin (LTC) is currently fetching 57.16 US dollars per coin. Nevertheless, both the signal line and the MACD line are below the zero-line indicating a trade/sell signal.

Subsequently, the price value of Litecoin (LTC) is below the 12-day and 26-day EMA respectively indicating we might be in the early stages of a bearish trend. The Relative Strength Index (RSI) for period 14 is in level 44 indicating the price value is in the sideways trend zone.

Litecoin (LTC) Price Trend and Forecast

At the time of writing, Litecoin’s market capitalization stands at 3.3 billion US dollars with a trading volume of 217.5 million US dollars in the last 24-hours.

When it comes to predicting the value of the coin, many crypto experts are of the opinion that Litecoin (LTC) is going to reach a price value of 600 US dollars or more before this year ends. At present, when you compare the virtual currencies in the market, you will see that Litecoin is doing a very good job of maintaining a good position among the many digital currencies.

Many cryptocurrency funds and institutional investors are either investing in the digital asset or are intending. This is the reason behind Litecoin’s (LTC) daily increasing number of transactions. If you are looking to invest in Litecoin (LTC), now might be the best time to trade in the digital asset as you would be in a good position to make some handsome returns throughout the year – thanks to Litecoin’s price prediction for 2018. But as always, it would be prudent to diversify your virtual currency holding to reduce the risks involved significantly.

Not too long ago, the virtual currency declined in value drastically against the US dollar and found a new support level that is close to the 49 US dollar mark. Shortly afterward, Litecoin (LTC) started an upward trend and corrected over 52 and 54 US dollar mark.

As you look at Litecoin performance chart, you will see the price value of the virtual token bids close to the 50 US dollar mark, a connecting support trendline. Litecoin’s price managed to keep a brave fight that led to its higher price surge that broke the resistance level at 54 and 55 US dollars respectively. The most recent price surge was positive as the digital coin exchanges hands over the 50% Fibo Retracement level of the prior swing that was of a high of 60.6 US dollars to the low of 49 US dollars.

Nevertheless, the price value of the virtual asset is currently capped on the upper side of the 57 and 60 US dollar levels. The 61.8% Fibo Retracement level and the 100-hourly SMA of the prior swing of the high of 60.6 US dollars and a low of 49 US dollars is close to the 58 US dollar mark.

Overall, there is another major hurdle Litecoin will have to jump that is close to the 60 US dollar mark. If Litecoin manages to appreciate over the 58 US dollar level, it will need to break the 60 US dollar level to correct further. Consequently, Litecoin has to maintain its immediate support level of 55 US dollars to avoid further declines.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay.com

Blogs

What Changes May the Crypto Space Experience in 2019

Published

on

crypto
READ LATER - DOWNLOAD THIS POST AS PDF

After the crypto hype of 2017, a lot of newly-arrived crypto enthusiasts were caught off-guard by the price crash and bear market that took over in 2018. One month after another, investors were waiting for things to change, and for another bull run to take place. Unfortunately, this did not happen in 2018, and while the year’s final days were seemingly stable, the rally everyone wanted to see has failed to arrive.

However, crypto investors remain optimistic, with many of them hoping to see some changes arrive in 2019. There are rather great expectations of this year, especially since the last one failed to deliver. However, many are interested in what exactly is to be expected in this year, which is what we will talk about today.

Bitcoin ETF approval

The US SEC’s decision regarding Bitcoin ETFs was one of the most anticipated events throughout 2018. Sadly, the decision constantly got delayed, and the SEC never actually provided an answer. The last delay has pushed the decision into 2019, and it is now expected to arrive on February 27.

Historically, the SEC was never ready to approve Bitcoin ETF, and many believe that the delays came due to the fact that the market was not ready for then in 2018. This is backed by the fact that the SEC rejected multiple application throughout the year. VanEck and SolidX…

Continue Reading

Blogs

Reasons Why 2019 May Be A Great Year For Crypto

Published

on

crypto
READ LATER - DOWNLOAD THIS POST AS PDF

The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

Continue Reading

Blogs

3 Coins with the Largest Potential in 2019

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

Continue Reading

Elite