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..
Published by ScaredyCatGuide
on
I’m bullish Litecoin long term, along with Steem of course.
Yeah, they are both in my top 5 holdings.
I am enjoying the latest bounce although it has led to BCH getting ahead of Litecoin in market cap despite it being inferior due to the latest fork. The reality is that the Litecoin community is very resilient and I maintain my positions and look to add.
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Merry Christmas, enjoy the vote!
I like your money post.
MagicDice - Dice Game on Steem