The bearish market continues as diferent cryptocurrency hits new low.
Quick Snapshot Of LTC Over The Past Months:
Age - 6yrs 4mos
Marketcap (current) - $11.6B
Price (USD) - $210.32
Price (BTC) - 0.0199฿
24hr Change (%) -6.22%
24hr Trade Volume $969.05M
All Time High - $375.29
All Time High Date - 2017-12-19
% down from ATH - 43.96%
LTC ROI :
1 week -7%
1 month 19%
3 months 181%
1 year 5,421%
3 years 11,034%
Litecoin is one of the first alt-coins. It is a nearly-exact clone of Bitcoin. Its main distinctions vs bitcoin are in target blocktime, mining algorithm, and eventual supply quantity. Litecoin was created as a clone of bitcoin meant to have four times the supply, as well as generate blocks four times as fast. Bitcoin's parameters were changed in order to achieve this, with the result that eventual supply will top out at no more than 84 million coins. Similar to bitcoin, litecoin&'s supply dynamics are known with great precision, and the vast majority of all eventual coins will be minted in the first two decades.This indirectly meaning LTC is a hidden gem, which most people are yet to discover.
Always the BEARISH HARMONIC PATTERN.
A move back to $181 which is always the 0.5fib retracement level. Gives more opportunity to buy more LTC.
DMI also giving a signal for a continuation in the bearish part, as Average Directional Index ADX is below 25 and -DI is above the +DI.
Technicals suggests that price will likely cross the 0.5 fib and go down to 0.618 fib, where a support is found.