A Little Look at Litecoin Price Action

A Little Look at Litecoin Price Action
December 21 01:01 2018 Print This Article

It almost seems like Litecoin has been forgotten about.  It was just six months ago that people said bitcoin, ethereum, litecoin in the same breathe.

Where Price Stands

Visually, when looking at litecoin you will see it had pulled back further than bitcoin.  As in it went below the level where the parabolic move began in late 2o17.

That level was about $50, so it was a full round trip and then some.

What is the price outlook now?

Similar to bitcoin we’ve seen a nice little bounce in price the past few days.  And similar to bitcoin we are just shy of the the most recent little top.

For litecoin that price is around $34.   That is the price that needs to be preached and held for this to be anymore than just a little oversold rebound move.

If this occurs then that $50 level becomes the next target and boy is it an important one because that level is mendoza line in my opinion.  It’s the price point that would show true gains from the level that excludes the “bubble” move.

Obviously if things reverse and price heads back down to $22 then the bearish action of 2018 will still be well intact.

Just some random thoughts..

  Categories:
view more articles

About Article Author

scaredycatguide
scaredycatguide

Providing Investing Education for the Risk Adverse

View More Articles
write a comment

0 Comments

No Comments Yet!

You can be the one to start a conversation.

Add a Comment