Litecoin Price Evaluation: A Double Bottom Signals Litecoin Recovery


Apart from ETH which has registered a 13% increase, Litecoin (LTC) emerges the last twenty-four hours top performer with a 12% increase in value. The outcome is that morning start trend and refutation of bears at August 2018 lows between $45 to $50.

From now henceforth, I recommend small size LTC purchases for risk off buyers and initial targets at $70. After that, conservative investors can embark on longs should purchasers close above it.

Other Litecoin News

Apart from the slide in LTC’s market cap, there are other changes that are supportive of digital currencies- in the long term because the impact is not conditioned to be instant. Heading this is Bittrex, the Seattle-based digital currency exchange and the twenty-third liquefied exchange in the globe. In the recent past, Bittrex has been hitting the headings with good news for crypto enthusiasts and investors.

Through their twitter handle, the establishment stated they will be offering LTC/USD and TRX/USD starting from 17th September 2018 and any entitled account created by 4th September will be permitted to trade.

This move is expected to sustain market investors and traders since it is a US exchange implying there are other options for LTC to take advantage of, for example, more liquidity as stakeholders join from various states where Bittrex provides fiat business.

In other news, LTC developers are considering enlarging and diversifying their bases of secure wallets. They intend to invent a web wallet, which is both easy to use and secure from user stash.

This Week’s LTC Price Evaluation

As we near the end of the week, the value of LTC is stabilizing and likely to recover before the start of next week. For the past two weeks, LTC has shown to be stable compared to other cryptocurrencies and up by 1%. The eventual outcome is an evident denial of bearish efforts driving the value below $50.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
John Makori is a cryptocurrency writer with background in IT and journalism. He has lived in different countries, and settled in Canada. He has more than 4 years of experience working as a journalist with interest in Bitcoin and Cryptocurrencies. He’s passionate about learning Blockchain technologies’ potential to reshape all aspects of our lives. He joined TheOofy as a writer.