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Altcoin price analysis by Frederic Racine: what’s happening with other cruptocurrencies while Bitcoin is facing problems.
Litecoin hasn’t seen such a low position since a long time ago. The cryptocurrency again reached the habitual level of $3. And we remember that fluctuations of Litecoin price around the level of $3 can stick for a long time.
Now the market is pessimistic. Falls also on the LTC:BTC exchange rates, having again moved lower than 0.008. It seems that traders aren’t in a hurry to move to Litecoin while Bitcoin is facing problems.
However, levels below $3 looks attractive to purchase, and a price of $2.80 - $2.90 is perfect to place buy orders, while sales are worth it at a level of $3.20.
DASH is the most successful altcoin in 2016. Its price grows continuously.
Now and in the last 24 hours we saw the active growth of DASH when it reached 0.0138, which is twice more than a month ago.
Now develops the correctional movement aiming to reach the level of 0.01. Purchase of DASH is of interest at the level of 0.075 and below.
Dogecoin seemed to be stuck on 40 Satoshi, and trading volumes fell. But the price of Dogecoin has also decreased to 38 Satoshi, which means that a downtrend is possible. If 35-36 Satoshi becomes the new level, purchases below it – for 30-34 Satoshi – will be attractive to traders.
So far there are no signs that Dogecoin will again fly up to 49 Satoshi.
In a couple of days ETH jumped from 0.0031 to 0.0038, and a correctional movement now develops. The market is overheated by the long and continuous growth therefore descent to levels lower than 0.003 is now quite possible.
Traders can place buy orders between 0.002 and 0.003. Active growth of ETH gave much hope for continuation of a trend. Will we see 0.002 or 0.005 on the weekend? Actually it’s not so important for traders as they earn on the volatility of ETH, just like with any other coin.
Peercoin has also returned to its usual level of $0.39 - $0.41. Purchases lower than the level of $0.40 remain favorable. Thus PPC:BTC exchange rate feels quite strong, it is headed higher than 0.001. Traders may fix the profit on the levels above than $0.45 and now below it.
Neucoin price seems to recover, while daily trading volumes are still small. An updating of a local bottom didn't happen today, and the price of 1000 Neucoin fixed near the level of $3.
Purchases below $3 are justified if there will be no next collapse of Neucoin price. Otherwise, purchases at the price of about $1.5 for 1000 Neucoin will become interesting.
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