Daily Altcoin Price Analysis: Litecoin, DASH, Dogecoin, ETH, Peercoin Show Activity in all Markets, Dogecoin Aside
Daily Altcoin Price Analysis by Frederic Racine on December 2, 2015.
Litecoin very nearly reached the support level of $3.20 and now is at the exchange level of around $3.30.
$3.50 turned to become the proper level of resistance that allows traders to sell coins as good as at the level of $3.80. At the same time, the Litecoin price a little higher than support level – $3.20 will be the price to purchase at. This digital currency fell following the grandiose falling of Bitcoin price from $380 to $350. Are prerequisites for growth right now? Unlikely.
The correctional movement from $3.20 is settled, and even $3.40 can become the level of resistance. Bitcoin is in the downtrend now. LTC/BTC exchange ration twitched on 0.097 and moved down to 0.094, thus has prerequisites to further decrease.
All this gives us possibilities of buy on $3.20 and below, and sale for $3.50 and above. It is worth to place orders to buy at the levels of $3 and below, up to $2.2.
We've only look at the 4-hour chart of DASH! Exactly 0.056 became good level, and this green candle in the last 4 hours reached 0.062. Sharp falling of Bitcoin led to a situation where miners moved their wealth to DASH, decided not to sell and received DASH coins while it is on historical bottoms. As a result, most of us expect further growth for more than for 8% in a day. While Bitcoin is on the level of $350, we won't see the considerable changes in price from today's level. It says to us that's it about favourable time buy DASH a little higher than 0.056, and that there should be no switches to 0.05 and below so far. The growth of DASH price can be expected with the continuation of Bitcoin growth.
The chart of Dogecoin is boring as a concrete fence. The chart hasn't changed a lot in the last 6 hours, days, weeks and even months. Nevertheless, we believe that Dogecoin will start executing somersaults because following big falling Dogecoin always takes a growth trend. Therefore, let's wait for the Dogecoin price to fall so we could make a favourable buy. Overcoming of levels 35 Satoshi and 32 Satoshi will become a good signal to traders.
ETH shows good dynamics on the second day in a row, but its movement is still within the
downtrend. ETH has to be rather convincing to draw a local top on the daily chart. Only the descent from this top and completion of descent in the form of a new local bottom will be a good time for buyers.
Peercoin surprise us more often recently as it practically didn't even react to the fall of Bitcoin's price, and only returned to the level of $0.40, which is more or less usual for it. This level is good for buyers, and right now it is possible to buy coins at the price lower than $0.40. It’s the fine opportunity to make long term investments in cheap Peercoin.