Litecoin price analysis (LTC) seventh; The market will recover after the recent FUDs

  Litecoin (LTC) Price Analysis September 7 "title =" Litecoin Price Analysis (LTC) September 7 "/> </div>
<p>  A combination of rapid losses and shifting feelings – now that Goldman Sachs does not set aside their plans on Cryptocurrency trading is turning into a depreciation in the market: after the events of September 5, when the statistics showed that bears have canceled more than $ 40 billion market valuation in a single day, it seems that the sales triggers are alive and in that case they negotiate with the 8-month trend of </p>
<h2>  Highlights </h2>
<p>  In addition to user cases, blockchain technology is not only an innovative solution but is disruptive. It is no wonder that many companies have solid plans to incorporate this new technology into their business structure while seeking to improve transparency, efficiency and even cost cutting. </p>
<p>  After all, use and blockchain solutions like Litecoin especially to move funds from one place to another is not only safe but is extremely cheap. There have been cases where the funds have moved millions of dollars just to pay the cents and the liquidation completed in a few minutes. </p>
<p>  It is in this direction that the recent SharePost survey reinforced our statement about how distributors and institutions think about cryptocurrencies like Litecoin. In the report entitled Cryptocurrency and Blockchain Survey: Bullish Consumers, Investors cautiously optimistic, the research shows more dealers and almost all institutional investors know which cryptocurrencies are and, encouragingly, plan to increase their holdings in the next year. </p>
<p>  What is surprising is that they believe that blockchain technology is here to stay and what is needed to stimulate adoption is a basic education. This will not only increase the number of user cases but will allow a more agitated space for future investments and the effective use of cryptocurrency in their daily use. </p>
<p>  This is resounding and bodes well with what the co-founder of Litecoin has advised retailers Investors and even enthusiasts should capitalize on the recent price drop to use LTC to pay for their daily activities. </p>
<h2>  Litecoin (LTC) Technical Analysis </h2>
<h3>  Weekly Chart </h3>
<figure id=  Litecoin Technical Analysis
Litecoin Weekly Chart for trading view

Technically, our business plan was overly bullish before the events this week. As of September 5, double-digit losses have seen LTC's supports reverse previous gains and the result is a high trading range accompanied by abnormally high volumes that replace the volumes of the last trade.

As in a largely bearish trend, the fact that sellers jumped back en masse cemented bearish claims effectively nullifying our previous bullish projection. All in all, and especially if we consider the general sentiment of the market, we recommend selling in lower time periods every time you print high.

Daily chart

  Litecoin technical analysis
Litecoin daily chart for Trading View

On the last day, LTC prices fell by 6% and, after the consolidation periods, as we have seen yesterday, prices are falling in sync with the dark cloud coverage of September 5. If nothing else, selling at spot rates with a stop at $ 60 with the first goals at $ 30 is a solid business plan.

Conservative traders waiting for strong signals should start to start short films only when prices are trading below our immediate support at $ 50. When this goes out, safe stops should be at the highest levels of the breaking candelabra .

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Disclaimer: The views and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.

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