Hot Topics

Advertisement

Sally Ho's Technical Analysis 23 August 2019

Litecoin Litecoin (LTC/USD) attempted to find relief from recent massive selling pressure below the psychologically-important 100.00 figure early in today’s Asian session. The pair’s depreciation during the month of August has been relatively abrupt from its recent high of 107.04 from 5 August. Notably, the 106.62 area represented the 23.6% retracement of the move from 380.00 to 22.17, and LTC/USD Bulls were unable to make a sustainable move above this level. Sentiment has recently been extremely Bearish given the pair’s ongoing depreciation below the 50-bar MA (4-hourly), which is now trading below the 100-bar MA (4-hourly) and 200-bar MA (4-hourly). ...

Read More
snapex banner

Litecoin (LTC) Stays Strong Above $70 But Bigger Threats Loom Over

Litecoin (LTC) has done a really good job at holding its ground above $70 but that should not be confused for a bullish momentum long term. In fact, the manner in which LTC/USD is holding this level will only pave the way for a short term relief rally but that’s all it is going to achieve. Litecoin (LTC) is extremely unlikely to rise to a new yearly high from here. Recent moves have exposed its game plan and it has now broken below critical trend line supports which means that further downside is very likely after a short term relief...

Read More

Litecoin (LTC) Risks Further Downside Against Bitcoin (BTC) But Not For Long

Litecoin (LTC) is at risk of further downside against Bitcoin (BTC) as the price has just run into a strong resistance at the 38.2% fib retracement level. LTC/BTC is now likely to decline to the bottom of the falling wedge but the big picture tells us that we might see further upside from here soon as the price breaks out of the falling wedge. This tell us that we could see a mini altcoin rally towards the end of the year but this does not mean that we are on the cusp of a bull market. All it means is...

Read More
snapex banner

Litecoin Miners Left Out Of Pocket

Changes to the Litecoin infrastructure mean that Litecoin miners could potentially be left out of pocket, after Litecoin halved it’s miners rewards. This is as a result of Litecoin reaching a specific block within it’s blockchain that kick starts a series of events, the consequence of which is that the mining reward is eventually reduced. This ‘trigger block’ is situated at height 1,680,000. According to Coindesk: “The litecoin blockchain reached the trigger block height of 1,680,000 at 10:16 UTC on Monday, according to the litecoin explorer from mining pool operator BTC.com. The event marks a major threshold for miners, as...

Read More

Litecoin (LTC) Halving Finally Happened But Why Is The Price Not Shooting Up?

Litecoin (LTC) halving has finally occurred but the price is not shooting up as the market expected it to. In fact, it keeps on falling back to the $100 mark and is struggling to remain above it. If we take a look at the daily chart for LTC/USD, we can see that it has finally broken the 38.2% fib extension level to the upside which is a bullish sign but it has yet to break past the 50 day EMA. It has now retraced aggressively below the 50 day EMA and for good reason. If we take a look at...

Read More