BCH Price Analysis Litecoin price analysis
You don't have to be an expert at trading to find out when you glance at the price of Litecoin. Take a look at the renewed attractiveness of this virtual currency. The price of the virtual currency, had more than quadrupled between the beginning of December and its historical peak of 375 dollars of December 19, 2017. FYI, the abbreviation of Litecoin is simply LTC, crypto currencies use the same principle as for the quotation of Forex currencies. For example USD (US Dollar) and EUR (Euro). Either LTC / USD for the quotation of Litecoin against the US dollar, and LTC / EUR for the price of Litecoin against the euro.
So, on one of the most interesting cryptocurrency exchange platforms in the world, it is trading around $ 200. And even if the prices of Litecoin have calmed down over the past 2 weeks. The crypto currency still grew by 300% during the month of December. The price of Litecoin therefore does not have to be ashamed of the comparison with its illustrious elder, Bitcoin. The latter posted a performance of nearly 6,000% in 2017. Litecoin's market capitalization is estimated at $ 12 billion, which many experts and specialists consider undervalued.
Technical analysis to estimate Litecoin prices
To estimate the prices of crypto currencies against Fiat currencies, Experts use the same analytical techniques as in the exchange rate market, Forex. Thus, in the light of various technical indicators, the experts recall that the current level of the price of Litecoin represents an interesting entry point on the market. Indeed, despite having lost nearly $ 150 in one month, the price of LTC is beyond essential technical support.
Traders agree to define the 2 main resistance levels for Litecoin at $ 245.265 and $ 285. While the commonly accepted support levels are $ 205 and $ 185. Therefore, a rebound to reach levels above or near its all-time high of $ 375 is possible before the final quarter of 2018 expires. Technical analysis based on moving averages indicates potential upside ahead.
As with all conventional currencies, the price of Litecoin is expressed by comparing supply and demand in marketplaces. However, the real influencing criteria will burst elsewhere the value of cryptocurrencies is of a different nature than those impacting fiat currencies. Thus, since their creation with the birth of Bitcoin in 2008, cryptographic currencies have been particularly sensitive to news, with an impressive volatility as a side effect.
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LTC adoption by the general public is overdue
For experts, nothing could be more normal, it is an inevitable process, which allows public opinion and stakeholders to test the strength and durability of these new currencies. With success, recognition and adoption on a large scale. Thus, despite the confidence deficit handicapping crypto currencies, Litecoin is increasingly attractive. Geeks aren't the only ones using it anymore. Indeed, crypto currencies come out of confidentiality, through Bitcoin. Litecoin became the first cryptocurrency to be listed on the Chicago Stock Exchange futures market.
Which probably explains why the outlook for Litecoin's value to rise. They are in good shape, although it must be recognized that part of this bullish rally is fueled by speculation. While the lure of profit mechanically drives the prices of crypto currencies, the gradual loss of confidence in FIAT currencies. Lax central bank policies are also fueling the rise of crypto currencies.