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With this Update we would like to compare and find out the strengths and weaknesses of two major cryptos - Ethereum & Litecoin versus the Giant, the absolute leader - Bitcoin .
So let's compare two charts ( ETH/BTC & LTC/BTC):
* Overall, we see that Ethereum looks stronger in relation to Bitcoin that its peer, Litecoin.
* Ethereum has added up more than 30% ag Bitcoin within less than 1 month.
* ETH/BTC has reached the level at 0.0220 forming up a . And now this level acts as significant local resistance.
* Breaking above 0.0220 will guide the pair to the next area around 0.0260.
* Take note that the last correction of ETH/BTC to 0.0190 was immediately rejected and backed out towards 0.0220.
And what is the matter with Litecoin?
* In the meanwhile, Litecoin has seemed to enter the long-term protracted consolidation phase.
* After hitting the bottom at around 0.006 BTC , it bounced up to 0.0079 and, as a result, has formed the boundaries of the forecast consolidation range.
* Currently, LTC is totally neutral (as also confirmed by ) and sluggish in relation to BTC .
* The only viable trading strategy for LTC/BTC in the given market conditions is to attempt trading within the specified consolidation range.
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This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.