Litecoin Predictions: Is This A Breakout?
Jan 18, 2015 --- (ARCHIVED) Altcoin Price Reports
Written by S3052.The Current State Of Litecoin
Litecoin remains a top cryptocurrency. According to coinmarketcap
, Litecoin is the number three cryptocurrency. It has a market capitalization of about 48 $MM. There are only two digital currencies that are larger: Bitcoin and Ripple.
From a Litecoin price development perspective, the value has plunged about 97% from its 48 $ high. Litecoin is currently trading at 1.3 $. This huge crash is another example why technical analysis of cryptocurrencies can be a valuable tool and can protect traders and investors from huge losses.What Are The Short Term Litecoin Predictions?
BullBear Analytics regularly covers Litecoin predictions as part of other Cryptocurrency predictions and forecasts. Today, we provide a free sample of this analysis. (We keep publishing timely subscriber-only updates in the future.)
So let us review the Litecoin Chart: We have alerted subscribers last week that there is an important downtrend line. This trend line has its origin at around 2.7$. Today, it looks like that Litecoin prices are about to break out of this trend line.
What is next? If this breakout persists, there is a good chance that at least a short term Litecoin rally develops. A possible first target zone for this rally is the 1.5 - 1.7 $ area. If this zone can be broken, prices could quickly shoot up to 2 $ and then even 2.7$. Any decline below 1.2 $ as of now would likely restart the big litecoin bear market. And a break below 1.056 $ would confirm the resumption of the bear market.
But if the bullish break out materializes, Litecoin traders could quickly make 100% and more gains. But the clear watch out is that this asset is extremely volatile and not very liquid. And this means that there are high risks to lose money if the market goes against you.
How Are Litecoin Predictions Developed?
BullBear Analytics not only uses standard technical analysis tools, but also some very novel tools that are only accessible to them. Also, the 5 year experience in cryptocurrency and Litecoin predictions plays a major role (Bitcoinbullbear started to cover bitcoins and litecoins already in 2010).
BullBear Analytics uses those tools:
- Key technical indicators
- A unique set of back-tested moving averages
- A very specific array of trendline analysis
- Leading indicators derived from cross-market correlations
- Elliottwave tools
- Volume trends
- A proven set of divergence / convergence statistics
- Uniquely for Bitcoins: A new proprietary indicator called Bitcoin Bull Bear Indicator (BBBI©), which in itself is a weighted composition of more than 10 specific indicator and tools.
The diligent analysis plus an almost 24/7 coverage of our analysts ensure that those bitcoin and litecoin predictions can be used well to outperform buy & hold.
In some of the next editions, we will also cover short term bitcoin and stock market predictions.
Have a great BITday!
---Do you want to learn more about the bitcoin forecast above, or to gain access to the full Litecoin Forecasts and Litecoin Predictions, Weekly Report, Daily Updates, and real-time Price Alerts? Please visit BullBear Analytics & Litecoin Predictions now! Litecoin and other cryptocurrency predictions are available as part of the Active Pro Complete package.
Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment.