Home / crypto litecoin weekly price analysis / Litecoin price weekly analysis 17 May: Litecoin doesn’t miss in the market smackdown

Litecoin price weekly analysis 17 May: Litecoin doesn’t miss in the market smackdown

Litecoin price weekly analysis 17 May: Litecoin doesn't miss in the market smackdown

A difficult week for Litecoin manner it is time to both dangle your nerve or e decisive – there is no room for wimps.

Key takeaways

  • LTC is down through about 12.five% over the ultimate seven days
  • It doesn’t glance find it irresistible’s hit the backside but
  • Today has been certain however it is to early to name restoration

It’s been every week of pink candles for Litecoin, simply because it has for just about each coin on the market. After sitting at the US$160 mark throughout the latter a part of ultimate week, LTC jumped on the identical slide as nearly each different main coin, and slid all the way down to the $132 mark, shedding over a 3rd of its price through past due Saturday afternoon.

The price recovered into the mid $140s and sat there till Tuesday when it made a steep climb into the $150s prior to plummeting again into the $130s. That steep climb used to be accompanied through a leap in buying and selling volumes from $419M to round $580M with 24 hour volumes sitting at round $340M at the second.

The price these days sits at just a little underneath $140 after a slight upward push lately of underneath 2%.

Some analysis at TradingView suggests there nonetheless some more space for LTC to fall prior to it makes a restoration. In the view of no less than considered one of their investors, that makes it a just right coin to believe purchasing despite the fact that the web page’s total score says promote. Interestingly, some other analyst there stated “the best thing to do in situations like this is to think like a contrarian and let the market prove itself. If it does prove strength, you should have a plan of action prepared. If it pushes below 125 decisively, then stand aside. If you are managing inventory, there is not much you can do except lighten your position if it is causing you stress. You can always get back in when the market stabilizes. Being mindful of the amount of risk you are exposed to should be your top priority”.

The present actions in the market are a large take a look at. But you have to observe yr in the past, if any person advised you LTC used to be buying and selling at $130, they might were ecstatic. Back then, the price used to be round the $25 mark so we are taking a look at a 500% win at the second. Even on simply the ultimate six months the price has doubled and that takes under consideration the price explosion and cave in we noticed in January.

One factor I do to find just a little unexpected is this week’s Consensus event in New York hasn’t produced any certain information to buoy the market.

Disclosure: At the time of writing, the creator holds BTC, EOS, ETH, XLM, ETN, LTC, ADA and XRP.

Disclaimer: This data must now not be interpreted as an endorsement of cryptocurrency or any particular supplier, provider or providing. It isn’t a advice to business. Cryptocurrencies are speculative, advanced and contain vital dangers – they’re extremely risky and delicate to secondary process. Performance is unpredictable and previous efficiency is not any ensure of long run efficiency. Consider your personal cases, and acquire your personal recommendation, prior to depending in this data. You must additionally test the nature of any services or products (together with its prison standing and related regulatory necessities) and seek the advice of the related Regulators’ internet sites prior to making any resolution. Finder, or the creator, will have holdings in the cryptocurrencies mentioned.

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