Oh, the Intangible Stance of Litecoin
The litecoin price is currently hovering at around $1.80 following a heavy drop in price. As we've seen, it's pretty hard for digital currencies to compete with their big brother, bitcoin. Bitcoin gets to be the big quarterback on the football team and score all those winning touchdowns while the others just get benched. Bitcoin is first chair in the school band and gets to play all those sexy solos while the rest only get to chime in with the chorus. It's not necessarily fair, but it does seem to be how the world of cryptocurrency rolls. It has been suggested that the price of bitcoin can....
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Litecoin has dropped 6.47 percent to trade at $2.733 as the underlying negativity comes to the fore. We discussed in the previous Litecoin price technical analysis The Pressure is Evident that there is a very low probability of the price trending higher and that bears may make an early comeback. This decline has also brought the price closer to its very important technical support of the 200-day simple moving average (SMA). The question that the trading community is now asking is: will this level cushion Litecoin once again? I continue to remain bearish on Bitcoin as well, which I believe....
The action in Litecoin market in the past 24 hours has been muted. The cryptocurrency has failed to move even intraday and is now trading on a flat note at $2.979. There are two factors suppressing the movement in Litecoin: Overhead Technical Resistances. Lackluster Bitcoin Market. Both of these overhangs should be dealt with quickly if Litecoin is to maintain its positive stance. According to the latest LTC-USD price technical considerations, Litecoin needs only a little upward thrust to secure more gains. Litecoin Chart Structure - The chart structure remains positive until this moment.....
Litecoin has broken above the neckline of the Reverse Head & Shoulders pattern which sets its next target at $1.800. But, the upside breach is not convincing enough; the technical indicators do not display strong optimism and the post-breakout price action fails to inspire confidence to buy. Litecoin is presently consolidating above the neckline at $1.700. A technical analysis of the 240-minute LTC/USD price chart prevents me from buying into this market trap. Litecoin Chart Structure - Even though Litecoin has broken above the neckline level of $1.690, it has not made any significant....
Coinotron is way too close to 51% of the Litecoin Network Hashrate. The Litecoin Community is currently coming together to deal with one of cryptocurrency's most existential threats: that of a 51% attack. At this point, Coinotron has not attempted any sort of malicious activity. In fact, Coinotron has stated that: "I have contacted with our biggest miners. We are working on solution to mitigate risk of Coinotron's hashrate raising over 50% of LTC network hashrate." However, in the days since that message, Coinotron's hashrate has not dropped at all. For the last several days, Coinotron has....
Just yesterday I discussed the possibility of a major breakout in Litecoin along with a price target of $1.60. The breakout did happen, and the price touched a low of $1.63 before stabilizing around $1.66. The collapse in Litecoin price happened in concurrence with the 8% crash in Bitcoin price, and with expectations of Bitcoin touching $230 rising, Litecoin may witness a more pronounced fall in the coming sessions. Analyzed above is the 240-minute LTC/USD price chart covering the period from late January to date. Chart Structure - Litecoin has broken below the support trendline (marked as....