Litecoin

Technical Analysis of Litecoin

The cryptocurrency market is advancing this week, the price of Bitcoin is above $8 000 and this is certainly a positive thing for all other cryptos. Litecoin is one of the best performers on the cryptocurrency market in the last several days, in less than five days the price of Litecoin has advanced from $75 above $103 and the current price stands around $100. Litecoin is a very interesting cryptocurrency to monitor since it appears to hold a number of advantages over Bitcoin. Litecoin has a faster block-processing rate that keeps miners intrigued (and rewarded), has a more decentralized proof-of-work algorithm than Bitcoin and lower transaction settlement times and fees. Litecoin was created by a Google employee Charles Lee, this project has a very good team of software developers and a large community that is growing. Lots of analysts agree that Litecoin has the potential to make very big gains in the upcoming period, short term support and resistance levels are $90 and $120 – If the Litecoin jumps above $150 that would be a “BUY” signal and the open way to $180. If the Litecoin jumps above  $200 that could be a strong signal of the trend reversal and the open way to $300. On the other side, if the LTC falls below $80 that will be a strong signal “SELL” signal and the next target could be around $70.

Advice: This trading week is very positive for the cryptocurrency market so far and the price of Litecoin currently stands around $100. Litecoin can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $300 in the next two years. Technically looking, if the price advances above $150, short-term traders can enter the position with the stop loss at $138 and take profit at $180 or even $200.
 
 

Technical Analysis of Litecoin

In less than 30 days the price of Litecoin has advanced from $52 above $98 and the current price stands around $79. Lots of analysts agree that Litecoin is currently at a point where it has the potential to make very big gains and the current situation represents a very good entry point for long-term investors. Litecoin was created by a Google employee Charles Lee, this project has very good team of software developers and a large community that is growing. When we look at the 1-year chart we can see that Litecoin is moving in “downtrend”. As long Litecoin is below $100 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $70 and $100 – If the Litecoin jumps above $90 that would be a “BUY” signal and the open way to $100. If the Litecoin jumps above  $100 that could be a strong signal of the trend reversal and the open way to $150. On the other side, if the LTC falls below $70 that will be a strong signal “SELL” signal and the next target could be around $60.

Advice: Litecoin is a very interesting cryptocurrency to monitor since it appears to hold a number of advantages over Bitcoin. Litecoin has a faster block-processing rate that keeps miners intrigued (and rewarded), has a more decentralized proof-of-work algorithm than Bitcoin and lower transaction settlement times and fees. The beginning of April has been very positive for the cryptocurrency market and the price of Litecoin currently stands around $79. Litecoin can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $300 in the next two years. As for the technical picture, the Litecoin remains in bearish phase but if the price advances above $100, short-term traders can enter the position with the stop loss at $90 and take profit at $120 or even $150.

ALT COINS TO WATCH OUT FOR IN 2019

An altcoin is any digital cryptocurrency similar to Bitcoin. They are all the alternative cryptocurrencies launched after the breakthrough of Bitcoin. They generally project themselves as better substitutes to Bitcoin. The term is said to stand for “alternative to Bitcoin” and is used describe any cryptocurrency that is not a Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Most popular altcoins use the same fundamental building blocks as Bitcoin. This implies that most altcoins are peer-to-peer, and they involve a mining process through which the users can solve difficult problems in order to unlock blocks, and they also offer efficient and cheap ways to carry out transactions on the web. altcoins vary widely from each other even with their many overlapping features – altocoins differentiate themselves from bitcoin with a range of procedural differences, including different proof-of-work adifferences the different means by which their users can sacrifice energy to mine blocks and application advancements to increase their user’s anonymity.

In April 2017, the size of the cryptocurrency market was just about $25.9 billion but as now, it stands at about $409.5 billion. The market growth gave room for many new cryptocurrencies to emerge. So it is pretty tasking to pick out the vest alt coins as there are hundreds to choose from. But in this article, I will show you the best 5 alt coinsto watch out for in 2019 so buckle up, its going to be a long ride.
Many of these altcoins are basically forks of Bitcoin, developed on its open source code. It can be a difficult task to choose the best altcoins, as there are thousands of options out there.

Best Altcoins to Invest in 2019

1. Litecoin

Litecoin is one of cryptocurrency’s oldest altcoins, it was created in 2011 by Charlie Lee(ex-google employee). Litecoin is just a digital currency like bitcoin but with certain upgrades. Litecoin shows very many improvements from that of bitcoin, especially its remedy of bitcoin’s slow transaction speed. As a matter of fact, the reason that it is called Litecoin is because it is 4 times faster than Bitcoin. A Bitcoin transaction could take about 10 minutes to complete but a Litecoin transaction is done and dusted in 2.5 minutes. This makes Litecoin more scalable than Bitcoin as the litecoin can complete more transactions per second than the bitcoin can. The litecoin is fairly easy to purchase because it is offered by most of the top cryptocurrency exchange platforms. You can buy Litecoin from Kraken or from Coinbase or Coinmama or Bitsquare.

2. Ethereum

Ethereum was launched in July 2015 by Vitalik Buterin. All the list of the best altcoins must have listed in them, Ethereum. Ethereum is the second most valuable cryptocurrency after Bitcoin and it has a current market capitalization of about $64.35billion.
The price of Ethereum has grown from $9 in January 2017 to $1,389 in January 2018. And its price has almost doubled in price within the last one month, from $396 at the beginning of April (2018) to $648 today.
Why is Ethereum so unique and different from Bitcoin?
Bitcoin is just a virtual currency, but Ethereum has more to offer in addition to that. Ethereum provides a platform for the developer on which they can build blockchain-based smart contracts and decentralized apps.
Ethereum was the first cryptocurrency token to introduce smart contracts(Smart contracts are agreements coded on the blockchain that execute themselves on when certain pre-set conditions are met), and smart contracts are now considered as the next big thing.
As one of the most widely available cryptocurrencies, Ethereum can be purchased from any popular exchange. Many of these exchanges support credit/debit cards in addition to bank transfer. So you can purchase Ethereum from Coinbase or Coinmama or CEX.io or Gemini.

3. NEO

NEO, which was originally called AntShares. It was created in 2014 by Da Hongfei in China. It is the biggest cryptocurrency which is of Chinese origin. NEO, like Ethereum, is a platform designed for developing decentralized applications (Dapps), Smart contracts and ICOs. It has very close resemblance with Ethereum and because of this close resemblance to Ethereum, NEO is often referred to as the “Chinese Ethereum”. One of the major factors which is propelling growth for NEO is the support it enjoys from the Chinese government and its robust technology. NEO has a vision of building a smart economy and this Impliesthe digitization of physical assets like cars, houses etc. To buy NEO, you must First buy bitcoin and then exchange it.

4. CARDANO

Cardano fixes three of the most pressing challenges the first and second blockchain generation projects faced. These challenges are: availability, interoperability and sustainability. Cardano offers advanced improvements over Bitcoin as well as over Ethereum. Cardano is a decentralization app building platform with its unique native frequency.
Cardano also profers solutions to the problem of slow international payment transfers by reducing the cost and speed to a few seconds. Cardano can easily be gotten from coinmama but if you wish to buy from other platforms, you will need to but bitcoin first.

5.DASH

Dash was launched about 5 years ago by Evan Duffield. It was first called Xcoin then renamed Darkcoin but in 2015 it was finally re-branded to Dash. Dash has a market capitalization of about $3.79billion so could be one of the best coins to invest in 2019. Dash has made some giant strides And the technology and offers better privacy and a higher transaction speed than Bitcoin.
Unlike Bitcoin in which the address of the sender is made public, Dash keeps the addresses hidden. So, Dash’s transactions cannot be traced back to the origin, while Bitcoin transactions are traceable.
Dash also has its own self-funding mechanism (0% of all the mining reward goes back to the Dash.) This fund is used to further improve and grow Dash.

WHAT IS HAPPENING TO LITECOIN?

Litecoin (LTC), from its introduction was on a full bullish form, hitting an all-time high of $360 with a $1 Billion market capitalization. But recently, most especially in 2018, it has been on a bear market range. If you are familiar with Litecoin, your question is as good as mine. The only difference however will be the fact that I am adding ‘the heck’ to my question. What the heck is happening to litecoin?
For those who aren’t familiar with Litecoin; Bitcoin and Etherum, just as they sit on the top of the global market cap, occupies the focal points of most of their digital currency investment. Although some new investors have shown interests in altcoins like ripple, dogecoin and other coin. However, with the Litecoin currently sitting at the 7th position of the cryptocurrency market cap, it has been hard for Charlie Lee’s creation to get new investors.
Litecoin is a peer-to-peer (P2P) open software and cryptocurrency project. It operates on and open source cryptographic protocol, allowing the transfer and creation of tokens. Litecoin is a decentralized entity, with no control right given to any authority or government agencies. It is faster than Bitcoin, and it is a cheaper option for people who are performing transactions. Litecoin came to being in 2011 as a fork of Bitcoin core. To play simple, it was a divergent of Bitcoin, but it had slight modifications that made it different from Bitcoin. One of such was the reduction of block generation time at exactly 2.5 minutes. It also came with a modified Graphical User Interface (GUi), with a slight change in algorithm, functioning under the MIT/X11 lincense. The simple idea behind it was the making of a ‘light coin’, a coin that can be easily used for lower transactions. When the Litecoin was introduced into the market, it kept growing, reaching a market capitalization of $1 billion in November 2013. In 2017, Litecoin took crucial steps, first by becoming one out of the relevant cryptocurrencies to adopt the segregated witness (SegWit). SegWit is a system which increases the block size limit of a blockchain, this it does by separating transaction signatures. In May of 2017, Litecoin hosted the Initial Network Networking transaction, transferring a small fraction of Litecoin in less than a second.

What is Happening?

Forecasters, and investors alike hardly do predictions on Litecoin as much as they do for other altcoins. However, 2018 was not a bullish year for this Bitcoin fork cryptocurrency. No doubt, it has seen better days of glory, and now might not look like the best time to invest. MasterCard, which the company have been looking forward to partnering with, on its LitePay project recently came out saying they were only going to partner with a government backed cryptocurrency project. As at now, Litecoin seems to have been oversold. The value have declined in a super bearish path, and there has been many market over reactions. Most Litecoin holders bought their shares when the price was on a high, expecting it to go higher, but it didn’t turn out that way.
So from indications, all Litecoin holders have harbored the desire to sell their coins. The fact that it is oversold, according to the experts does not really have so much effect on it, as the bearish path it has taken can be overcome with a new bullish path, if good measures are taken.  Despite the fact that the rebound, may likely not take Litecoin to its all-time high market capitalization, there is a big chance that the prices will go green again.

Any Hopes?

Some of the measures taken by the Litecoin team this year, that will strengthen it in 2019 includes the listing in exchanges. The year 2018 saw it being listed on exchanges, the most popular being on Gemini. This has contributed to the relative increase in demand for the  coin that is popularly tagged the Bitcoin fork. And 2019 promises more listings on bigger exchange platforms. With all these facts stated, I guess the answer to our question, as established earlier is simple. Anything can happen to Litecoin, and everything is happening with Litecoin.

Trading Strategies for Litecoin

Trading Strategies for Litecoin
Litecoin is a peer-to-peer cryptocurrency that utilizes the blockchain technology to maintain a public ledger of all transactions without being managed by any central authority. Litecoin was an early bitcoin spinoff or altcoin, as it was designed to solve lots of problems that Bitcoin was facing. It has reduced the block time of Bitcoin from 10 minutes to 2.5 minutes. Therefore, Litecoin’s transactions are faster and the fees relatively low.  A transaction using LTC, which is Litecoin’s ticker symbol, costs 0.00000001 LTC.
Binance and Coinbase are by far the most popular places to buy and sell Litecoin. Binance, for instance, is the most trusted and recommended place not only for Litecoin trading but also all other cryptocurrencies. They are known for their strong team, proven products, superior technology, and industry resources.
The most common indicator used in the Litecoin trading strategies is the On Balance Volume (OBV). It uses a combination of volume and price activity to inform you the total amount of money going in and out of the market. For instance, if Litecoin price is moving up, we expect that the OBV indicator too will rise, indicating an inflow of money. The opposite is also true. However, leading indicators such as an OBV are prone to alteration as a result of price fluctuations in the market. For this reason, a second indicator, the 20-day moving average, should be used.
Learning how to scalp trade is an essential technique as it translates to building consistent profits. We are thus going to discuss key steps to follow when buying Litecoin:

  1. Wait until the OBV indicator enters into a prolonged period of consolidation.

When the OBV indicator is seen consolidating, it means there is buying up of cryptocurrencies by investors.
 

 

  1. Wait for a breakout above the OBV consolidation zone.

When the investors accumulate a cryptocurrency, it will always trade sideways. When all the available supply is exhausted, the smart money will mark up the Litecoin price.

  1. Buy Litecoin when we’re close above the 20-day moving average.

As discussed earlier, we will use the 20-day moving average indicator to confirm the OBV readings. After the OBV breaks above its consolidation, Litecoin price breaks and closes above the 20-day moving average. One can hence place a buy order.

 

  1. Hide the protective stop loss.

Place your protective stop loss below the most recent support level.

 

  1. Define a take profit level.

Take profit when Litecoin price breaks and closes below the 20-day moving average as this is an indication that the market is about to reverse.

The above steps are also applicable when selling Litecoin but in reverse.
References:

  1. (Admiral Markets, n.d.)
  2. (Day Trading, n.d.)
  3. (Ava Trade, n.d.)

 

LiteCoin Technical Price Analysis(Oct.30th)

Litecoin is a very interesting cryptocurrency to monitor since it appears to hold a number of advantages over Bitcoin. Litecoin has a faster block-processing rate that keeps miners intrigued (and rewarded), has a more decentralized proof-of-work algorithm than Bitcoin and lower transaction settlement times and fees. Lots of analysts agree that Litecoin is currently at a point where it has the potential to make very big gains and the current situation represents a very good entry point for long-term investors. Litecoin was created by a Google employee Charles Lee, this project has very good team of software developers and a large community that is growing. When we look at the 1-year chart we can see that Litecoin is moving in “downtrend”. As long Litecoin is below $100 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $50 and $70 – If the Litecoin jumps above $70 that would be a “BUY” signal and the open way to $90. If the Litecoin jumps above  $100 that could be a strong signal of the trend reversal and the open way to $150. On the other side, if the LTC falls below $50 that will be a strong signal “SELL” signal and the next target could be around $40.

Advice: Litecoin can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $300 in the next two years. Yes, it is true that the price could fall even more but the current price of Litecoin stands around $53 and this is very close to strong support which stands at $50. As for the technical picture, the Litecoin remains in bearish phase but if the price advances above $100, short-term traders can enter the position with the stop loss at $90 and take profit at $120 or even $150.

Litecoin Technical Price Analysis(Oct 28th)

Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license.Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.


Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011 With Litecoin (LTC) improvements in the market, it seems the digital coin is on the rise recording upward value for the past few days showing no sign of holding a break. That is the main reason why many investors and traders are looking into the virtual currency to try and predict its prices before this year ends. It is important to understand that Litecoin (LTC) is far more familiar to Ethereum and Bitcoin than one could expect. Only by understanding their attributes and features is when you will be able to predict its value and price easily (and close-to-perfect).
Litecoin is on its way up with signs of getting higher prices against Bitcoin (BTC) and the US dollar.
 
The currency is facing a lot of resistance at the 77 US dollar mark.
Right now, Litecoin (LTC) is exchanging at 74.9 US dollars after a price appreciation of 1.09% over the past 24-hours. With respect to this, Litecoin boosts of an impressive $4.32 billion worth of market cap with a trading volume of over 271.6 million over the past one day.
With the way the stock is plummeting, I would advice a quick buy as the currency is heading to the zenith.