Advertisment


Litecoin drifted a bit lower during the day on Tuesday, reaching towards the $60 level. That is a very important round number, and beyond that we have seen structural interest in the market there as well. That was an area that has been massively resistive in the past, and it should now be supportive in the future. I think that the bounce that we have seen as the Americans woke up is a good sign that we are going to continue to go higher. At that point, the market will more than likely find buyers to push this market back towards the $65 level. Beyond there, I suspect that the market will probably go looking towards the $70 level above, as it is the next large, round, psychologically significant number. I think that given enough time, we will continue the longer-term uptrend, and that these dips are going to be seen as value going forward.

 

You want the latest news about Crypto? Sign up to our weekly Newsletter!


Longer-term uptrend

 

I believe that longer-term, the uptrend should continue, and I think that the markets will eventually go looking towards the $100 level, but that will take time to get there. I think that the overall volatility this market will continue, but if you are cautious, and add slowly, you can build a very large position to take advantage of what has been a reliable uptrend. Litecoin continues to be one of my favorite crypto currencies, as the stability is part of what attracts so many traders. Litecoin is one of the larger crypto currency markets, so the liquidity helps. I think that the market is one that you can add to every $5 or so, and that makes for a nice uptrend just waiting to happen.