Daily Altcoin Price Analysis: Litecoin, Dogecoin, Peercoin are stable, ETH and DASH grow before new falling
Daily Altcoin price analysis by Frederic Racine on December 4, 2015.
Bitcoin went a down from $360 to $350 and LTC/BTC pair exchange rate in the same time reacted with small growth from 0.092 to 0.094. As a result, Litecoin got stuck between the levels of $3.20 and 3.40 in the narrowed triangle.
Bitcoin continues a downtrend, while at the Chinese exchanges, Litecoin reaches an important level of 21.5 yuans. If this level isn’t withheld, we may see the price of $3.20 and below soon, or even $3. The movement up is possible only if some good news on cryptocurrencies will arise.
DASH continues its success — trading volume has grown, and yesterday, the price reached 0.0687. Nevertheless, following a sharp two-day growth, correction begins, and we see it today.
Dogecoin is awaiting on the same place where we left it yesterday, on 35-36 Satoshi. In two weeks we saw quite good dispersion of the price, from 32 to 40 Satoshi, so under favorable conditions some traders could earn up to 20%. But it is very difficult to enter into the market while it moves so tentatively. Therefore, we will continue the expectation of a really good price.
ETH continues a downtrend. However, now we see one green candles on the chart, but you shouldn't be deceived, it will be replaced by new fall soon. Also pay attention to this interesting chart: ETH/USD. We passed a psychologically important level of $1 two weeks ago, and since then the price fell continuously to $0.80 and below. It seems that now ETH/USD pair exchange rate has the lowering impact on ETH.
Peercoin price now is $0.40, and any buy orders lower than $0.40 remain favorable. Here and yesterday, buy orders for $0.39 could be closed for $0.41. Continuation of such volatility near the level of $0.40 will give us the chance to get a good profit gradually.