Tuesday, March 2, 2021
  • Contact
  • Privacy Policy
  • Terms & Conditions
Trends Wide
  • Home
  • News
  • Business
  • Lifestyle
  • Trending
  • Australia
  • Deals
  • Cryptocurrency
No Result
View All Result
Trends Wide
Home Cryptocurrency

Litecoin price is down 30% since the beginning of September. Should I invest?

souhaib by souhaib
September 29, 2020
in Cryptocurrency
0


  • Litecoin has slipped below 10th position and is now amongst the top 15 cryptos
  • Litecoin price can weaken even more in the upcoming days and maybe it is not the best time to invest in LTC
  • If the price jumps above $50 it would probably reach $55 in the short time period

The price of Litecoin (LTC) has weakened from $64 below $43 in less than three weeks and the current price stands around $45. Litecoin has found strong support above $40 but the price of this cryptocurrency is still far away from the LTC price predictions for 2020.

Fundamental analysis: Litecoin has slipped below 10th position on the cryptocurrency market

Litecoin price has been moving in a downtrend last several weeks and for now, there is no signal of the trend reversal. From trading amongst the top 10 cryptos of the market, Litecoin has slipped below 10th position and is now amongst the top 15.


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

The main reason for this is a lower transaction volume and the fact that Litecoin is unable to surpass the $50 resistance level. Litecoin is a very popular cryptocurrency to monitor since it appears to hold a number of advantages over Bitcoin.

Litecoin provides faster transaction confirmations (2.5 minutes on average) and Litecoin’s transaction fees are, on average, considerably lower than that of Bitcoin. It is also important to mention that the price of Litecoin is correlated with the price of Bitcoin and investors in this cryptocurrency should also have Bitcoin on their “watch list”.

If you are looking for virtual currencies with a good return, Litecoin can be a profitable investment option according to estimates. Despite this, I feel that the price of this cryptocurrency can weaken even more in the upcoming days and maybe it is not the best time to invest in Litecoin (LTC).

Technical analysis: Bulls are focused on breaking the resistance level at $50

The technical picture implies that the price reached the bottom, but is it ready for a rebound? Let’s have a closer look at the chart below.

Data source: tradingview.com

On this chart, I marked important resistance and support levels. The important support levels are $40 and $30, $50, $60 and $70 represent the resistance levels. If the price jumps above $50 it would be a signal to buy Litecoin (LTC) and we have the open way to $55.

Related posts

Horizen joins hands with IOTA to grow IOTA Oracles and Zendoo

March 2, 2021

Steps To Make Your Cryptocurrency Marketing Campaign a Success

March 2, 2021

Rising above $60 supports the continuation of the bullish trend and the next price target could be located around $70. On the other side, if the price falls below $40 it would be a “sell” signal and we have the open way to $30.

Summary

If you are looking for virtual currencies with a good return, Litecoin can be a profitable investment option according to estimates. Despite this, I feel that the price of this cryptocurrency can weaken even more in the upcoming days and maybe it is not the best time to invest in Litecoin. If the price falls in the upcoming period, every price in a range from  $30 – $40 could be a very good opportunity to invest in Litecoin. On the other side, if the price jumps above $50 it would be a signal to buy Litecoin and the next target could be around $55.



Source link

Next Post

#10 1/2 Health Insurance Envelopes (4 1/2 x 9 1/2) (Pack of 50000)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Nancy Pelosi says she wants Donald Trump impeached to stop him running for president again

2 months ago

Man City 2-0 Aston Villa: Dean Smith fumes at ‘pathetic’ offside decision

1 month ago

The trailblazing pilot who came out as transgender at 58

5 months ago

Hadi: The Houthi group does not want peace and is working to implement Iran’s agenda

2 months ago

BROWSE BY CATEGORIES

  • Australia
  • Cryptocurrency
  • Culture
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Switzerland
  • Trending
  • Uncategorized

BROWSE BY TOPICS

2018 League abc Australia Bali United bbc bbc health Budget Travel Champions League Chopper Bike cnn ar business dailymail dailymail australia dailymail heath dailymail money dailymail sport day 7 euronews Health https://lenews.ch/feed/ IGN Istana Negara Market Stories National Exam rt arabic usa today usa today money usa today sport Visit Bali Women Fashion

POPULAR NEWS

  • Watch .. Lebanese astronomer Michel Hayek reveals his predictions for the year 2021

    0 shares
    Share 0 Tweet 0
  • Help save a local business

    0 shares
    Share 0 Tweet 0
  • Love Insurance

    0 shares
    Share 0 Tweet 0
  • 5 places to visit in Microsoft Flight Simulator 2020.

    0 shares
    Share 0 Tweet 0
  • Reece Parkinson: A shock diagnosis won’t stop me running

    0 shares
    Share 0 Tweet 0

Follow us on social media:

Recent News

  • Channel 4 is blasted for ‘spineless surrender to the PC police’ for sacking Ant Middleton
  • Report: Corona recoverers are at risk of contracting new mutations
  • Frontier Airlines accused of anti-Semitism after canceling flight over mask controversy

Category

  • Australia
  • Cryptocurrency
  • Culture
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Switzerland
  • Trending
  • Uncategorized

Recent News

Channel 4 is blasted for ‘spineless surrender to the PC police’ for sacking Ant Middleton

March 2, 2021

Report: Corona recoverers are at risk of contracting new mutations

March 2, 2021
  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Opinion

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.