Litecoin. Change the recommendation to "Neutral."

kevoh

full member

Activity: 448

Merit: 110

Quote from: Pursuer on March 18, 2018, 07:35:21 AM

for Litecoin it is, like always, following bitcoin. and if bitcoin continues dropping, LTC will follow. and if bitcoin were to reverse and shoot up tomorrow, LTC will also reverse and shoot up tomorrow or maybe with 1 day delay tops.

Very simple and straightforward for anyone choosing to make any trading prediction on Litecoin.

And I agree about the whole technical and fundamental analysis thing being not too accurate with cryptocurrencies in general.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

unfortunately technical analysis (moving averages that you are using here for litecoin) is not something that can work for altcoins. in my opinion it is mostly a waste of time to focus on them to try and make a trade using TA. it may be helpful at times to get the feeling where things are headed but it will never be close to accuracy enough to be considered a serious thing.

for Litecoin it is, like always, following bitcoin. and if bitcoin continues dropping, LTC will follow. and if bitcoin were to reverse and shoot up tomorrow, LTC will also reverse and shoot up tomorrow or maybe with 1 day delay tops.

ICEXch

jr. member

Activity: 88

Merit: 1

Litecoin could not hold above the moving averages and resumed the fall, first to $ 180 and then to $ 160.
The intersection of the moving averages on daily schedule is now on sale again. And the rate declines from the rapid moving average, as from resistance.
On the weekly chart, this trend indicator is still in the purchase. However, it is rapidly approaching sale and will give that signal in the next week or two, if there is no rapid take-off.
At the same time, Litecoin is consolidating quite far from the February minimum at about $ 100 and slightly lower off the support level.
Therefore, we lower the recommendation not to "Sell", but to "Neutral."
In the event of a breakthrough above $ 250, you can talk about the resumption of growth and buying.
In the case of a fall below $ 120 - about the resumption of the falling trend and the opening of short positions.
Profitable deals and follow our reviews!

All Technical Analyses from the ICEX team are on our website - https://app.icex.ch/en/feed/technical-analysis

Topic: Litecoin. Change the recommendation to "Neutral." (Read 72 times)