georgcantor

georgcantor Updated 

Short term bullish movement has buoyed the LTC market as expected. Retracement is now likely but support at 42 dollars may be a good entrance point before the next push for the all time high which would ensure at least a 10% gain. Moreover, with the reopening of the US stock market after the holiday tomorrow, if LTC remains bullish there is a good chance of a...

georgcantor Updated 

The bounce yesterday from 36.3 USD was perfectly inline with the 0.786 Fibonacci retrace. There appears to be selling resistance developing at 37.5 USD which if continues could see as push for the 0.5 fib of 38.2 USD which coincides with the downward trend line in five hours time. The line has been followed strongly since the all time high. If a push is made for...

georgcantor

Tuesday is independence day in the US and the markets will be closed. Studies have shown a strong upsurge in the reopening of the markets making the purchase of stocks favourable prior to closing. www.nyse.com Crypto currency markets in general have shown a strong trend in line with the Nasdaq making this phenomenon applicable to cryptocurrencies. LTC has not...

georgcantor Updated 

Following the downtrend from previous lows if the support at 38.3USD is broken we may see lower retracement in line with the downward support at around 35-36 USD which may pose as a good buying opportunity.

georgcantor Updated 

ETH continues to guide LTC, given the recent issues with scaling leading to lower market confidence. Low volume and wedge formation means that we should observe the behaviour of the markets around midnight GMT+1. The sentiment of East Asian investors may drive a run, especially if LTC can brake the 41 USD ceiling shown by the longer trend since its...

georgcantor Updated 

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...

georgcantor

We have potentially seen the beginning of of a new bearish trend of a cycle lasting between 1-2 weeks. This will be shorter if the lows only test the 22/23 support which could then shift the market into bullish territory.

georgcantor

Could LTC have already begun a strong down trend dropping as low as 12 dollars? It is highly likely that all cryptos are in a very large bubble and a 12 dollar bottom would make for a sensible drop considering the massive rise in its value over the past couple of months.