{"id":378072,"date":"2019-04-11T17:00:56","date_gmt":"2019-04-11T17:00:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=378072"},"modified":"2024-06-11T18:26:02","modified_gmt":"2024-06-11T18:26:02","slug":"cool-off-litecoin-ltc-may-drop-to-60-before-rallying-to-110","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cool-off-litecoin-ltc-may-drop-to-60-before-rallying-to-110\/","title":{"rendered":"Cool off, Litecoin (LTC) May Drop To $60 Before Rallying to $110"},"content":{"rendered":"<ul>\n<li><em>Litecoin prices drop 10 percent<\/em><\/li>\n<li><em>CoinBase teaming with Visa will drive adoption<\/em><\/li>\n<\/ul>\n<p><em>Not only is CoinBase aggressively listing digital assets and departing from their cautious approach, but they are also busy partnering, opening doors allowing their users to spend their Litecoin balances thanks to their collaboration with Visa. Meanwhile, prices are dropping and may retest $70 and even $60 in a correction phase.<\/em><\/p>\n<h2>Litecoin Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>The correlation between Bitcoin and Litecoin is direct. Although it may not be one according to math done by CoinPredictor, the correlation coefficient of their prices is 0.58. That\u2019s more than 50 percent and is therefore significant. Therefore, any spike or drop of Bitcoin will likely force liquidation in Litecoin and many other coins. We saw that behavior last year, and even as prices recover, the light liquidity behind Litecoin means it is leading.<\/p>\n<p>However, what is interesting are fundamental developments. Active wallet addresses are increasing and so are institutional involvement. As we know, any injection of funds by any of the prominent institutional grade participants translate to confidence. Fidelity would participate in providing custodial solutions and so will CoinBase. It is not in custody alone. CoinBase plans to be a broker-dealer while acting as an exchange supporting Litecoin.<\/p>\n<p>What is interesting though is their <a href=\"https:\/\/www.forbes.com\/sites\/billybambrough\/2019\/04\/10\/coinbase-and-visa-are-making-bitcoin-ethereum-ripples-xrp-and-litecoin-payments-a-reality\/\" rel=\"nofollow\">partnership<\/a> with Visa. Visa is a centralized payment processor and the largest in the world. Therefore, their collaboration with CoinBase allowing users to spend\u2014rather than hold their Bitcoin, ETH, XRP and Litecoin balances across millions of Visa supporting points across the globe, is a guaranteed path towards mainstream adoption and demand.<\/p>\n<blockquote><p><em>\u201cThis is the first debit card to link directly with a major cryptocurrency exchange, allowing people to spend their crypto balances direct from their Coinbase account. Previously available crypto cards required users to pre-load a specified amount of crypto onto their card, adding a point of friction to the process.\u201d<\/em><\/p><\/blockquote>\n<h3>Candlestick Arrangements<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-378075\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Litecoin-Daily-Chart-Apr-11.png?resize=1280%2C1024\" alt=\"Litecoin LTC\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Litecoin-Daily-Chart-Apr-11.png?w=1280 1280w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Litecoin-Daily-Chart-Apr-11.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Litecoin-Daily-Chart-Apr-11.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Litecoin-Daily-Chart-Apr-11.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Litecoin-Daily-Chart-Apr-11.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/04\/Litecoin-Daily-Chart-Apr-11.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Price wise and <a href=\"https:\/\/uniquehot.com\/2019\/04\/03\/is-litecoin-ltc-up-because-of-fomo-adds-2-7-billion-in-18-hours\/\" target=\"_blank\" rel=\"noopener noreferrer \">Litecoin (LTC)<\/a> buyers are slowing down, shedding 10 percent in the last day. It may be a double-digit slump, but considering the coin\u2019s super rally during the previous three months when buyers\u2019 momentum breached $50 invalidating the bears of Nov 2018, a correction was due\u2014and it is happening as press time.<\/p>\n<p>Note that we have a three-bar bear reversal pattern. Today\u2019s bar is wide-ranging hinting at sell momentum confirming bears and simultaneously correcting the coin\u2019s overvaluation of Apr 4-6.<\/p>\n<p>In that case, we expect support at around the 61.8 and 78.6 percent Fibonacci retracement level of the last leg up in a retest before bull trend resumption towards $90.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>Our anchor bar is Apr-3 with 1.46 million. Even though it is bullish, it is above the upper BB with a long lower wick pointing to over-extension. For our bullish stand to be valid, any drop towards $70 or $60 should be with light volumes below 1.46 million of Apr-3 or 750k of Apr-2.<\/p>\n<p><strong><em>Chart courtesy of Trading View<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin prices drop 10 percent CoinBase teaming with Visa will drive adoption Not only is CoinBase aggressively listing digital assets and departing from their cautious approach, but they are also busy partnering, opening doors allowing their users to spend their Litecoin balances thanks to their collaboration with Visa. Meanwhile, prices are dropping and may retest $70 and even $60 in a correction phase. Litecoin Price Analysis Fundamentals The correlation between Bitcoin and Litecoin is direct. Although it may not be one according to math done by CoinPredictor, the correlation coefficient of their prices is 0.58. That\u2019s more than 50 percent and is therefore significant. Therefore, any spike or drop of Bitcoin will likely force liquidation in Litecoin and many other coins. We saw that behavior last year, and even as prices recover, the light liquidity behind Litecoin means it is leading. However, what is interesting are fundamental developments. Active wallet addresses are increasing and so are institutional involvement. As we know, any injection of funds by any of the prominent institutional grade participants translate to confidence. Fidelity would participate in providing custodial solutions and so will CoinBase. It is not in custody alone. CoinBase plans to be a broker-dealer while acting as an exchange supporting Litecoin. What is interesting though is their partnership with Visa. Visa is a centralized payment processor and the largest in the world. Therefore, their collaboration with CoinBase allowing users to spend\u2014rather than hold their Bitcoin, ETH, XRP and Litecoin balances across millions of Visa supporting points across the globe, is a guaranteed path towards mainstream adoption and demand. \u201cThis is the first debit card to link directly with a major cryptocurrency exchange, allowing people to spend their crypto balances direct from their Coinbase account. Previously available crypto cards required users to pre-load a specified amount of crypto onto their card, adding a point of friction to the process.\u201d Candlestick Arrangements Price wise and Litecoin (LTC) buyers are slowing down, shedding 10 percent in the last day. It may be a double-digit slump, but considering the coin\u2019s super rally during the previous three months when buyers\u2019 momentum breached $50 invalidating the bears of Nov 2018, a correction was due\u2014and it is happening as press time. Note that we have a three-bar bear reversal pattern. Today\u2019s bar is wide-ranging hinting at sell momentum confirming bears and simultaneously correcting the coin\u2019s overvaluation of Apr 4-6. In that case, we expect support at around the 61.8 and 78.6 percent Fibonacci retracement level of the last leg up in a retest before bull trend resumption towards $90. Technical Indicators Our anchor bar is Apr-3 with 1.46 million. Even though it is bullish, it is above the upper BB with a long lower wick pointing to over-extension. For our bullish stand to be valid, any drop towards $70 or $60 should be with light volumes below 1.46 million of Apr-3 or 750k of Apr-2. Chart courtesy of Trading View<\/p>\n","protected":false},"author":384,"featured_media":347587,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10,2828],"class_list":["post-378072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-litecoin","tag-ltc"],"acf":[],"yoast_head":"\n<title>Cool off, Litecoin (LTC) May Drop To $60 Before Rallying to $110<\/title>\n<meta name=\"description\" content=\"Litecoin prices drop 10 percent CoinBase teaming with Visa will drive adoption Not only is CoinBase aggressively listing digital assets and departing from\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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