Litecoin drops down below $45
Litecoin has taken a dip below $45 in recent hours. In my opinion we're at a pretty good buy point here below $45. I think the buy zone for a long on litecoin is in the $40-45 range.
Litecoin has consistent volume
I think Litecoin has been undervalued in the alt coin rise over the past 6 months. It is consistently a top volume coin, often times holding the #2 spot over Ethereum despite having a much smaller market cap. When we started the year, Ethereum had a much smaller difference in market size between itself and Litecoin. Litecoin is used more for actual payments then Ethereum, and therefore has more real value, and in time the market will figure that out.
Testing .786 retracement zone
Litecoin is testing the .786 retracement zone currently at around $46.42. It has broken below this zone already twice, so I expect we will see it drop below it and head towards the .618 retracement line. I am not sure we will break all the way below it before resuming our uptrend for Litecoin. As I said I think anything below $45 is a good buy, we may see Litecoin dip back down below $40, but I expect it will be brief.
Looking Forward
looking forwad a 1.618 extension brings Litecoin up to $92. I expect we will see it sore to these heights at some point nearly the end of this summer or early fall.
Still holding mine since 2014 and no intention of selling anytime soon.wait to see $500 may 1 of 5 years but i am in no rush :) silver to the gold and the price will reflect that in the future :)
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I'll have to follow the litecoinkid!
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This is a great tip. I been in litecoin since it was GPU mineable.
Im holding for the long term.
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I have some and plan to hold forever barring an emergency.
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I've got a portion I hold long and a portion I actively trade with. The long portion just gets bigger and bigger :)
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Cool post. I did a pool meeting on why I like Litecoin better than Bitcoin for a reserve crypto currency. It makes lot of sense!
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I sold off at around $52, been thinking about getting back in.
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You did better then I did LOL. I mostly just held my position, but what I was willing to sell, I sold just below 50. I'll be buying those coins back here!
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Best time to buy was 2013. Next best time is now.
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What's your thoughts on NEM as it's also pretty low right now
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Also, do you know why Ethereum is so low?
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IMO Ethereum is all speculative value. It blew up too quick and should be in correction for a while. A lot of money flew into it because it COULD be huge if it does become the #1 platform for smart contracts, if and when smart contracts become a thing (probably more of a when). It started the year at $8 and hit $420 that's 52.5x, it's insane.
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I been holding LTC for a while. I sold most of my holdings to get into ETH. LTC was about $2 and ETH was at $1.23. I been restacking my LTC and trading out ETH for STEEM= STEEM POWER.
Im trying to hit that sweet price spot for trading out more ETH. Maybe Ill split it up LTC and STEEM.
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Good post friend.
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Looks like it just broke $45. :)
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I bought Litecoin on a whim at $28 a month or two back. I was interested in how it would do with Segwit and figured the best way to know was to jump in the water. Ether was certainly more explosive but Litecoin less volatile. Glad to see that it has a purpose in more actual payments volume. Price stability probably helps that.
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