Litecoin was having a good time this yr as many of the cryptos did, growing practically 4 instances in worth to $416 by March 10. However, the crash got here throughout the center of lat month and Litecoin misplaced all of this yr’s positive factors. It tried to bounce greater, however sellers saved pushing the highs decrease, so the stress stays to the draw back.
LITECOIN is having a tough week along with different cryptos and notably Bitcoin. It’s down one other 7.3% immediately to $31,900 after an analogous fall yesterday. The Miami bitcoin convention was cringey and the US authorities stealing again the bitcoin from the Colonial pipeline hackers is a reminder about safety and confiscation dangers.
There’s a little bit of a civil conflict ongoing inside crypto as effectively between funding tokens like BT/USD and people with extra utility, like ether. Neither are successful immediately although with Ethereum which was main the market final week, down 10% as effectively.
In Litecoin, the H4 chart doesn’t look good, with the 100 SMA (inexperienced) particularly turning into stable resistance on the prime. The 50 SMA has additionally joined in now, making laborious for patrons to push greater. The worth dived practically $40 decrease immediately after failing at MAs, however not less than the primary assist at round $145 held and now the value is crawling again up. We’re bullish already on this crypto, so we’re holding on to our trade, hoping that the development will change after reaching the primary assist degree.