Litecoin is consolidating and trading around $ 31.01 on January 22nd.
Analysis of LTC prices
On H4, the crypt moves within a narrow radius. Having previously diverged and then having hit the support of the ascending channel, it is clear that the crypt is still bearish. This is also confirmed by the MACD that is in the negatives and goes down. The downtrend moves to 61.80% Fibo, or $ 29.45. Subsequently, the lower limit of the interval is likely to be discarded, with the price falling further to 76% or $ 26.80, then the minimum to $ 22.25.
In H1, the price is consolidating close to the flat channel support, while the stochastic is in the oversold territory. In the event that the stochastic form a black cross and the price falls below $ 30.37, this means that the LTC will be ready to keep going down. The resistance is meanwhile at $ 33.74.
Giga Watt, a US-based mining company, has stopped working recently, which is an important piece of news for the entire cryptography market. The company told users how to withdraw all their money and then simply stopped feeding its equipment. Giga Watt still owes large sums of money in loans, which means there will be some evidence.
Meanwhile, ICORating has evaluated 135 cryptographic platforms in terms of where is the best place to exchange cryptos. Only exchanges with a turnover of at least $ 100K were included in the evaluation. Security was one of the main aspects. Kraken and Cobinhood scored a score, taking first and second place respectively. The third place went to Poloniex (A-), then Bitfinex arrived (5th) and Coinbase Pro (10th).
Curiously, not a single exchange got an A +.
Not all exchanges are going well. ShapeShift, based in Switzerland, is the subject of an in-depth investigation by the US government, which has obtained 175% more government claims than before, mostly related to customer accounts, IP addresses and to the transaction IDs.
All the provisions contained in this document are based on the particular opinion of the authors. This analysis should not be considered a trading advice. RoboForex can not be held responsible for the results of trading resulting from the negotiation recommendations and reviews contained in this document.
By Dmitriy Gurkovskiy, Chief Analyst of RoboForex