Litecoin with Hard Times – Litecoin Analysis – BTC Threads

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Litecoin is still in decline on Friday November 7th, trading at $ 25.42, reports Romitorex Chief Analyst Dmitriy Gurkovskiy.

The last significant minimum was hit, and the currency continued its long-term downtrend, with the current move likely to be the last before a retreat or a reversal. The market is approaching the fund, where investors will begin to create their long-term portfolios.

In H1, meanwhile, the price is testing the support of the local channel. In case you end up with a breakout, the price will drop to the projection support for $ 20.10. The Stochastic is meanwhile converging, which could mean a near correction. So, after the price reached $ 20.10, it could go up to $ 27.30. However, the main downside target is only $ 14.00.

The so-called "whales" are buying both Ether and LTC. According to Diar, Litecoin has been in great demand in recent weeks. Daily turnover also increased, with most of that coming from the 40 most active portfolios.

The main difference between the way whales buy Ether and LTC is that they use existing ETH and new LTC portfolios. On the one hand, these may be new investors eager to buy cheap crypto; from the other, however, these may be seasoned investors who underwrite new portfolios, not least because they do not want to attract the attention of the market.

In any case, the purpose of this is to find a good voice for purchase orders when the market is selling scrambled in a panic. This creates many good offers across the board, which are welcome by investors.

This week, December 4, there were LTC 36M transactions ($ 1.16 billion) in a very short period. 50 portfolios Coins 45 million more than those sold, He says Whale Watcher, an LTC user. A part of these portfolios may belong to the exchanges, but these can also be "whales". Some say, however, it was only one single crypto magnate.

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Any provision contained in this document is based on the particular opinion of the authors. This analysis should not be treated as a trading advice. RoboForex can not be held responsible for the results of trading resulting from the commercial recommendations and reviews contained in this document.

Dmitriy

Having obtained a degree in Social Psychology and Economics, I worked as head of a technical laboratory and fundamental analysis in the Research Institute on the analysis of the applied system. I write financial articles for various international media. I also hold the position of Chief Analyst at RoboForex.