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Ripple (XRP) And Litecoin (LTC) Fall To Their Lowest Prices In 2018

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The price of Ripple (XRP) which is the third largest cryptocurrency by its market cap, recently fell to a new low this year. As of Wednesday, Ripple dropped to $0.35 which is seven cents from the previous yearly low of $0.42 in July.

The current price of Ripple stands at its lowest level since December 12th, 2017 – and is far from its all-time-highs of $3 amid a bull run on the crypto market. Right now, XRP is down 89.2% from the highest price over a period of eight months.

What drives this trend is bad press for Ripple. The startup associated with XRP has been getting a lot of bad press and investor lawsuits stemming from the coin’s price decline. Right now, the price of XRP continues the downward trajectory and is down by 11.76% over a 24 hour period, according to data by CoinMarketCap.

Still, XRP is not the only cryptocurrency that dropped to its lowest point this year. It declined 8.78% from its previous yearly low of $72.65 which make it one of the biggest losers on the day.

The other altcoins followed with a sluggish performance. Ethereum and EOS are both down, 6.89% and 7.96% accordingly and are showing no signs of bullish revival. Bitcoin, on the other hand, has regained its momentum but its still in a position where it is mostly affected by the low market volume.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Litecoin News

Litecoin’s Value Could Drop To $77 After Forming Inverted H&S

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Litecoin’s value could drop to $77 as it plummeted yesterday after recently reaching $79 so now the traders are worried despite their bullish sentiment as the look at the technical analysis. In our Litecoin price news, we are reading more about it. The litecoin price has doubled since 2020 started and it increased from $40 in early January, reaching $79 just a few days ago according to the data from Coinmarketcap. Litecoin’s value plummeted all of a sudden right as the Bitcoin price from above the $10,000 price point. At that time, the Litecoin price was trading at $61 on CMC but the traders believe that the litecoin price could reverse soon and reach the $77 level after it forms an inverted head and shoulders pattern. The crypto analyst CryptoWolf, took to his twitter page to share his bullish LTC prediction and he believes that Litecoin could form multiple Inverse head and shoulders pattern and hit the $77 level. He tweeted:
 “LTC. Bearish target hit @ 62$. Possible formation of multiple iHS with neckline at 77.50. Picture from VIP video update released the 16th Feb.” The crypto trader @TraderSmokey also posted a LTC chart saying that the coin could rise to the $0.007971 BTC level and stated: "Decent level to buy some spot imo"
Earlier this week, the founder of the platform Charlie Lee shared a lot of criticism of the Ethereum-based DeFi ecosystem. This happened right after the DeFi lending dApp bZx that was hacked and then was forcefully shut down along with the Fulcrum for trading on which it was used. In just a few days, the second hacks happened and the hack totaled about $1.2 million worth of Ethereum. Lee continued that the DeFi apps can be closed down if a centralized party was to interfere and he said that they cannot repair it unless DeFi becomes more centralized. As per the recent litecoin price news, we can see that despite the brutal retracement which the cryptocurrency news and market saw this week, one top analyst is getting bullish on Litecoin (LTC) and starting to invesigate the technicals around the coin. As we can see now, Litecoin prints many buying signals and there is an array of technical factors which favor the cryptocurrency.
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Litecoin News

What Is Litecoin Preparing After The 10% Drop: Is It More Losses?

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The cryptocurrency market has suffered a lot over the past two days and we can see the February gains almost wiped off in many cryptocurrencies. As the market continues bleeding, we can see that BTC is in the $8,800 region since this morning and only a handful of coins have managed to escape the bloodshed.Today, what is Litecoin trying to do is shed a couple of more percent. The cryptocurrency is obviously not one of the coins that is in a good position right now. At the time of writing, the Litecoin LTC price has dived by more than 6% and is right now at $62. As such, a lot of analysts have taken a pessimistic view on the price of LTC in the near term. What is Litecoin analyst community trying to say about the LTC price now is the following... In the Litecoin news, we can see that the holders want to see the price grow to $75.40 and the price will need to be fixed above the support level of $69.96. This breakthrough would coincide with a -100 on the Commodity Channel Index (CCI) which compares the current price with an average price over a period of time. Still, if buyers fail to reach this level and sellers keep the price below the support level of $69.96, we could see what is Litecoin trying to establish. However, if the price drops, many will lose the optimism that they still have with the LTC price. In a scenario like that, further losses can definitely be expected. The analyst David Smith was vocal with the LTC price, saying that it is going to get worse before it gets better. He also noted that what is Litecoin LTC price doing is losing its place in the horizontal marker - and is right now below the mid-level of the descending channel. Additionally, because Litecoin closed below the horizontal, the coin is now in a bearish engulfing which signals a pattern that indicates lower prices may be on their way. While the overall sentiment is pessimistic, the crypto market is still very volatile. With a bit of luck, we might see a rebound before too long. At press time, the cryptocurrency news show that the market is vulnerable and exposed to a lot of risk.    
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Litecoin News

Litecoin Prints Many Buying Signals Which Could Prove Bullish

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Despite the brutal retracement which the cryptocurrency news and market saw this week, one top analyst is getting bullish on Litecoin (LTC) and starting to invesigate the technicals around the coin. As we can see now, Litecoin prints many buying signals and there is an array of technical factors which favor the cryptocurrency. And while this may not seem relevant to many readers, LTC's directionality could have a strong effect on the rest of the crypto asset class - Bitcoin included. The cryptonews show that in times of a pullback like the one we are seeing, Litecoin prints good signals which is why we need to be optimistic about this coin. A full analysis published on Sunday by the popular trader Byzantine General shows that the cryptocurrency gained around 95% this year, outpacing Bitcoin by 100% but still underperforming against Ethereum and the Bitcoin hard forks. The analysis pointed out to four technical factors which show how Litecoin prints new buying signals and how the price is looking surprisingly bullish:
  1. The one-week Moving Average Convergence Divergence (MACD) which turned bullish, seeing a positive cross.
  2. The one-week Ichimoku Cloud which also crossed bullish.
  3. Litecoin recently flipped a “major” resistance region into support on a weekly basis.
  4. LTC’s weekly supertrend has turned bullish.
This is what Litecoin prints this week according to the analyst - and how it could rise in the future. As he said, this is good for Bitcoin and the altcoin news too, mainly because of the weird correlation where Litecoin's price action is often later reflected to Bitcoin, which then causes the rest of the cryptocurrencies to move. The most memorable case of this was seen in the first half of 2019 which is when the altcoin suddenly began surging higher - months before its block reward halving. For a few weeks, we saw LTC rallying on its own and gaining dozens of percent week-on-week as the market was relatively flat. However, Bitcoin moved later and followed in the path blazed by LTC. https://twitter.com/LomahCrypto/status/1223467402161115136 Furthermore, LTC has the ability to front-run Bitcoin which it did a couple of weeks ago, when it broke higher as BTC was stagnating. Bitcoin, of course, followed the asset higher just days later.
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Ethereum News

Ethereum And Litecoin Prices Are Closing In On Golden Cross

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Ethereum and Litecoin prices are getting in on the golden cross and there’s an uptrend in crypto markets over the last few weeks which was led by bigger cap altcoins so in our Litecoin price news today, we take a closer look at the price movement. Ethereum and Litecoin are up 85% and 75% respectively since the start of the year. Nonetheless, a lot of the rise can be attributed to the uptrend in Bitcoin and this is where the gains are comparatively lower. These two altcoins are now closing in on the golden cross between the 50 and 200-period EMA or the exponential moving average on a daily scale but the confluence before the golden cross often leads to the fake-out just close to the contact point. TraderSZ commented about the swing trade ideas and leading derivatives as well:
‘’Watching 205 for support. Will see how price behaves there if we get there to load more into ethusd. would be okay with pullback to 195 at most. Clean smash below last month high then im gna have to step back from longs, lowers my probability of idea #ethusd.’’
The 50-period moving average at 4-hour charts at $210 will serve as an important area of support in case of further downfall. Another prominent crypto trader TraderXO suggested that the local highs will drive Ethereum back to levels 0.019 to 0.020 BTC levels of monthly open. The higher prospects of higher rises in the altcoins distribute some of the bigger gains and investment from the largest cryptocurrency. The gains are larger and the fall is disastrous as well and the continuation of the bulls in Bitcoin could even see the price of Bitcoin for a while. Similarly, on Litecoin charts we can see the 50 and 200-EMA are reaching across and the trend in Litecoin is currently bullish with the break above the head and shoulders pattern on the lower time-frames keeping the $92 price level still in play. The correction is back to retest the $60 levels is probable if the correction in the crypto markets starts. The uptrend in price with respect to the major cryptocurrency will seek support above the 0.006 BTC area for the bullish invalidation.
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