Ethereum and Litecoin: Price Speculation

Ethereum and Litecoin: Price Speculation

SHARE

As summer approaches, crypto currencies flourish with the majority of the interest in Bitcoin, Ethereum and Litecoin. High volume markets can be difficult to analyze for an alt-coin day trader, my outlook on these currencies tends to be as bullish as possible. Over the last month, there has been excellent opportunities to buy all 3 of these currencies: BTC @ 888 USD, ETH @ 0.0334 and LTC @ 0.004. The total market cap has increased enough to sustained these prices over the long term and for profitable trading.

Ethereum: current price 0.0532 BTC / $75 USD. A recent spike has brought it above 0.054, and I expect to see some high trading volumes on a downtrend. There is a small possibility that it will trade around 0.0525 for a short time (2 days) and move back down below 0.04. A more likely scenario would be that it reaches 0.0475, 0.046 or even lows of 0.04265 before seeing another climb. I predict that it will test the 0.04765 range before taking a jump to the vicinity of 0.0555. If a downtrend lasts more than a few days and reaches 0.0437, buy pressure could drive it nearer to 0.06 and above.

Litecoin: with SegWit activation bringing it into the spotlight, we have yet to see a significant spike since the end of March. There has been a 50% climb against the USD in the last week, but this can be attributed to BTC prices reaching new highs. I anticipate LTC to keep going on a general uptrend until it reaches $20 ~ $25.

From its standing floor of 0.0106 to 0.0122, I predict that the spread will continue to tighten toward 0.0105 in the next few days. This should cause a rebound and will continue to test these prices until the attention has been taken off the $80/$100 Dash prices. I would still consider LTC a buy for long term holding depending on your buy-in price of Bitcoin. I don’t anticipate it’s value to fall lower than 0.0092 or 0.0085 in the near future, at which point I would suggest to buy more.

 


These market predictions are my own opinion and should be taken as an example, not a guide. Always do your own research and analysis.

NO COMMENTS