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Daily Altcoin Price Analysis by Frederic Racine
Litecoin almost returned at the weekend’s level of $3.00, made a start from this level
and now keeps growing to $3.20. Descent from the level of $3.20 could be fast or painfully slow — everything depends on the behavior of the “elder brother" Bitcoin. Only sudden growth of Bitcoin can bring Litecoin to the levels of $ $3.50, 3.80 and above.
If Bitcoin continues to fall, this week we will see a Litecoin price below $3.00. The exchange rate of LTC:BTC can't overcome the resistance level of 0.008. It speaks about the weakness of Litecoin and the possibility of its movement to 0.006.
DASH grows and falls with a big amplitude. Growth from 0.01 to 0.017, falling to 0.009 and again growth. And all these moves within only 4 days! Can growth in such conditions be permanent? Today's movement is a correction after falling to 0.009.
Thus on the graphics of DASH’s price for a week the falling trend is clearly visible. Falling continuation that will give traders an opportunity to place buy orders at the price of 0.0075 and below is most probable.
ETH grew sensationally this week. ETH practically caught up with Ripple by the capitalization volume and now it has every chance to surpass Litecoin.
The repeated test of the level of 0.04 turned into its breaking through. Then practically without stop the course overcame the level of 0.05.
Trading volumes grow every day, and the recent top of the price almost reached 0.058. But the figure of the technical analysis "flag" specifies that the holiday for ETH comes to an end, and a falling of this cryptocurrency could be just as impressive as its growth. Especially, as ETH’s price only grew because of active advertising of the Ethereum project and an anti-advertising of Bitcoin. And there are still no smart contracts on the basis of Ethereum that users desire to see.
Dogecoin’s price also grows actively. The price overcame the level of 50 Satoshi. Trading volumes too continue to grow, and Dogecoin is already in the TOP-5 on the Poloniex exchange!
Dogecoin showed growth from 42 to 52 Satoshi in a single day, and this means that in 2016 the former cryptocurrency of Dogecoin has returned to us. It is again volatile at the exchanges and popular among users.
Peercoin remains at the level of $0.40. Good level for purchase are, as before, $0.38 - $0.39. While traders can fix the profit with the price of $0.42. PPC:BTC exchange rate is 0.001.
The trading volume of Neucoin increased. The level of $3 for 1000 Neucoin became resistance, and after several contacts with the level of $3, Neu moved to $2.6 - $2.7. Now the stop of the falling trend or its turn up are possible at any moment. Therefore, this week Neucoin will be one of the most interesting cryptocurrencies for traders.
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