Litecoin Prices Down 10% Since New Year

Wednesday, 08/01/2014 | 14:18 GMT by FMAdmin Someone
Litecoin Prices Down 10% Since New Year

In a very volatile week, litecoin prices have fallen from from 0.033 to 0.287BTC ($23). However, despite recent price swings, fundamentals for litecoins appear to be improving as more firms are beginning to offer support for the digital currency. An example was today's earlier announcement from that it would begin to offer litecoin purchases on its marketplace platform.

Technical Analysis

The tendency for the future is still not clear, but if it continues downwards, support might be find at 0.0283.

If we look what happened yesterday, we can clearly see how this movement downwards is trying to break support and failing to do so. If the tendency is reversed, we might find resistance at the 0.030 level.

We might need to wait and see how the currency trades today to predict its next move. For the moment, all we can say is that the support was held and this might be bullish.

In a very volatile week, litecoin prices have fallen from from 0.033 to 0.287BTC ($23). However, despite recent price swings, fundamentals for litecoins appear to be improving as more firms are beginning to offer support for the digital currency. An example was today's earlier announcement from that it would begin to offer litecoin purchases on its marketplace platform.

Technical Analysis

The tendency for the future is still not clear, but if it continues downwards, support might be find at 0.0283.

If we look what happened yesterday, we can clearly see how this movement downwards is trying to break support and failing to do so. If the tendency is reversed, we might find resistance at the 0.030 level.

We might need to wait and see how the currency trades today to predict its next move. For the moment, all we can say is that the support was held and this might be bullish.

Topics
bitcoin
trading
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