BTC is often the trend setting currency but in this case ETH has begun to lead LTC. LTC had been leading the trend after its release on Bitstamp but the swapping of roles is quite apparent in the last couple of days.
LTC may recover very strongly if there is an unexpected resolution in the transaction issues. If not, there could be a continued bearish trend for the foreseeable future. If ETH were to fall bellow 200 LTC would test the buy walls circa 34 and given the strong coupling of the currencies this may not be so pretty.
Likewise for other currencies that have seen dramatic rises in the past few weeks, they have weaker walls and are likely to fall the hardest if the current trend worsens. Conversely, BTC seems more resilient though if a real crash occurs only fiat currencies will be a safe bet.
Trade carefully, observe trends in ETH as to how to buy LTC for short term buys on the bounce. For a longer term perspective research the current technical issues regarding ETH. If they are resolved we may see a swift go ahead with its listing on Bitstamp. Further developments with Lightning implementation may also buoy the market.
LTC may recover very strongly if there is an unexpected resolution in the transaction issues. If not, there could be a continued bearish trend for the foreseeable future. If ETH were to fall bellow 200 LTC would test the buy walls circa 34 and given the strong coupling of the currencies this may not be so pretty.
Likewise for other currencies that have seen dramatic rises in the past few weeks, they have weaker walls and are likely to fall the hardest if the current trend worsens. Conversely, BTC seems more resilient though if a real crash occurs only fiat currencies will be a safe bet.
Trade carefully, observe trends in ETH as to how to buy LTC for short term buys on the bounce. For a longer term perspective research the current technical issues regarding ETH. If they are resolved we may see a swift go ahead with its listing on Bitstamp. Further developments with Lightning implementation may also buoy the market.
Comment:
LTC has started leading ETH again, possibly the beginning of a more bullish run.