LTC ... more down to go?
A few months ago someone told me LTC could hit $55. I looked at them like they had just landed from another planet and where talking out of their hands.
Today, I sit here shaking my head at this coin.
I'll admit I used to be an AVID supporter of LTC. I was a holder ... but this coin has cost me dearly.
I denied any wrong doing in respect to Charlie selling all his LTC at the absolute peak.
I gave them grace when litepay launch was delayed.
Then the bad news came ... litepay was nothing more than hot air, and it evaporated in front of our eyes.
Since then, this coin has struggled.
I will say, LTC has always been a slow mover ... slow up, slow down ... but there's a magic point above around $225/$230, where it jumps to $270 maybe $300. We are far from that point, really far. The slow down part helped when BTC was dropping, it served as a good coin to hold, IF you were holding ... didn't erode as fast ... but then that changed when litepay vanished.
I will give LTC another thing ... if I want to transfer crypto, I always convert to LTC. It's fast and cheap to transfer LTC.
But here's the TA ... this coin is toying with what I would say is the last string before it can drop significantly. There's a low established in Nov 2017 at 74 and another at 71 ... we hit 75 the other day. Dangerously close. Then it drops almost in increments of $10. That's how we get to $55.
A BTC drop to between $5000 - $5400 will likely put enough sell pressure on to do that to LTC.
Scary ... poor coin. I'll sit back and watch. There's just too much downside, and the prospect of a slow recovery. I do hope better for LTC holders. I really do...
Remember only a fool relies on one potential outcome.
Do not use this information for investment/financial decisions. For educational purposes only.
Today, I sit here shaking my head at this coin.
I'll admit I used to be an AVID supporter of LTC. I was a holder ... but this coin has cost me dearly.
I denied any wrong doing in respect to Charlie selling all his LTC at the absolute peak.
I gave them grace when litepay launch was delayed.
Then the bad news came ... litepay was nothing more than hot air, and it evaporated in front of our eyes.
Since then, this coin has struggled.
I will say, LTC has always been a slow mover ... slow up, slow down ... but there's a magic point above around $225/$230, where it jumps to $270 maybe $300. We are far from that point, really far. The slow down part helped when BTC was dropping, it served as a good coin to hold, IF you were holding ... didn't erode as fast ... but then that changed when litepay vanished.
I will give LTC another thing ... if I want to transfer crypto, I always convert to LTC. It's fast and cheap to transfer LTC.
But here's the TA ... this coin is toying with what I would say is the last string before it can drop significantly. There's a low established in Nov 2017 at 74 and another at 71 ... we hit 75 the other day. Dangerously close. Then it drops almost in increments of $10. That's how we get to $55.
A BTC drop to between $5000 - $5400 will likely put enough sell pressure on to do that to LTC.
Scary ... poor coin. I'll sit back and watch. There's just too much downside, and the prospect of a slow recovery. I do hope better for LTC holders. I really do...
Remember only a fool relies on one potential outcome.
Do not use this information for investment/financial decisions. For educational purposes only.
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