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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Short-Term Litecoin Price Prediction: Will Rollercoaster Dump from $52 to $42 Be Followed by Another Rising?

  • Vera Thornpike
    🤷 Opinions

    Litecoin short-term price prediction: there’s still a chance to reach $50, but don’t expect things to go smoothly

Short-Term Litecoin Price Prediction: Will Rollercoaster Dump from $52 to $42 Be Followed by Another Rising?
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After such steady growth, Litecoin — which rose by 130% since December — has suddenly fallen from its $52 pedestal. In a jiffy, it got back to $42, which was quite an unexpected turn. What a reason to speculate on  the Litecoin price! Let’s see what Internet users from tradingview think about the current LTC move.

“It’s not done yet”

A user called Acel is sure that Litecoin can go further down to finish the correction wave. Look at the graph provided:

Litecoin bearish period is not over yet

The trend might repeat, but it means that by May, Litecoin will reach the bottom to start upward movements. Not the most ambitious scenario, but it has all the chances to happen.

“Bearish trend continues”

The user nicknamed Cryptosuf claims Litecoin is under the bearish wave. His assumptions are based on several factors:

  • Fractal found from last Ascending Triangle

  • Yellow 1-5 Impulse looks complete

  • Wave (Pink) C looks to be complete

  • Fib Extension looks to have hit the 1.272 level in the red box

The same factors can be observed on the LTC/BTC graph. Cryptosuf is sure that the orange lined trend can repeat at least 1-2 times, so be prepared for Litecoin fluctuations down the road.

Litecoin price can go even lower – indexes prove that

The user doesn’t exclude the possibility of a breakout. However, today, Litecoin seems to be bearish.

The first hours after the LTC drop were perfect for making an investment – you could buy LTC for cheap and probably enjoy some 20-25% profit (well if you made a purchase, wait and see).

Cryptosuf writes:

“...we should be bouncing up soon I think at least 50% of the drop...
this was not manipulation, not some secret whale group, not an insider job.
it was a rising wedge/ascending triangle/end of a 5th wave.”

Such situations are ideal for making a fast profit: buy at the bottom, sell at the top.

“We return to $30 support zone”

One more TradingView user promotes the idea of the bearish character of Litecoin. BarclayJames says that LTC closed the gap to $50 zone, confirming resistance. Now it retested for resistance and is likely to go further down. He expects to buy Litecoin when it reaches $30 support zone. As soon as this bottom line is reached, we should expect sideways breakout.

Litecoin is to reach $30 support zone

 

“Beware of a bull trap”

DataPatron has been observing Litecoin bull traps long ago, and now his price chart shows that there’s triple bearish divergence. Here’s what he writes:

“The whole length of the divergence is formed by ascending wedge as well. So we have several warning bearish signals. I am not saying it's impossible but LTC will very unlikely break $60 and continue to rise. If it will, this bull trap is completely invalidated and we are out of the bear market. If confirmed - we will see fall to sub $40 levels again what I think is the most likely scenario here.”

Soon after the release of the idea, Litecoin’s price reversal took place.

Therefore, it’s not all lost: Litecoin has all chances to get back to the $50 level, but don’t expect things to go smoothly. The crypto market is a rollercoaster full of breathtaking twists and turns!

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls

  • Jack Thomas
    🤷 Opinions

    📊👀Ripple’s Market cap, through its XRP token, was ahead of Ethereum at a few stages, but its price prediction has slowed and come under pressure from resistance below the $0.33 mark, and in doing so, Ethereum has pushed higher into second place

Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls
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Ripple, and its native token XRP, have been stuck in a bit of a price vacuum over the past few weeks and months as many other coins have managed to break such marks. Sitting between $0.30 and $0.33, XRP has actually started to even lose ground on Ethereum in terms of market cap.

The third-ranked coin by market cap has in the past managed to over take the smart contracted-based blockchain as it surged in interest and growth in the recent past, but now it has fallen back by nearly $2 billion.

In terms of price prediction, XRP has a lot of hope and positivity surrounding Ripple’s efforts to make it a staple of banks going into the digital age, but it has stalled in its own growth recently, which is surprising seeing as other altcoins have doubled in 2019 alone.

XRP’s sticky situation

There was a small drop in the market last week which was halted when Bitcoin managed to keep above $4,000, but XRP also tested an important resistance. After testing the $0.3000 support, XRP’s price started a short term rebound against the dollar.

The price traded above the $0.3050 and $0.3080 resistance levels. The price even traded above the $0.3100 level, but it faced a strong resistance near the $0.3120 level. Besides, the price even failed to test the $0.3120 level and the 100 hourly simple moving average. A high was formed at $0.3113, and later the price started a downside move.

XRP is especially low currently, testing its floor rather than the ceiling, which has been seen closer to the $0.33 mark, but what is not helping the coin get past any of these resistance marks is its drop in market cap.

Ethereum taking the initiative

It is difficult to tell if Ethereum is making ground on XRP’s market cap based on its own growth – which has not been astronomical in terms percentage gains in the last few weeks – or if it has to do with XRP losing its own worth and value in the eyes of the market.

Ethereum is facing some major changes in the near future, and it could be that early investors are starting to look for a cheap deal as they prepare for the Casper upgrade and the change to Proof of Stake. Ethereum is bound to make big ground when that happens.

Ripple may not admit it, but having XRP as the second ranked coin above Ethereum would be a big deal for them as it adds a lot of legitimacy in the general market and helps in boosting their own worth and value as a company looking for more partnerships.

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