Daily Altcoin Price Analysis: the Avalanche Moves Down Slowly
December 2, Litecoin, DASH, Dogecoin, ETH, Peercoin, Neucoin moving slowly.
Litecoin painfully and slowly tracks the Bitcoin correction. There was a strong reduction of the Litecoin price to $3.40 - $3.50; the exchange rate of 0.008 was not maintained, and Litecoin promptly slid to 0.0077 and lower. When will this movement stop? At the level of 0.0075 or maybe at the historical level of 0.006?
The DASH price seeks to break free of its local bottom, which became even lower recently at 0.00558. Buy orders below this level are interesting; a long-term reduction of the price to a bottom of 0.0056 will provide an opportunity to interrupt this down-trend.
Dogecoin trade volumes have increased, allowing the price to make a new start from 29 Satoshi, increasing to 31 Satoshi. The movement around a level of 30 will accompany Dogecoin for some time to come, and the longer this level maintained, the more stability it will provide for the price.
ETH holds steadily at 0.002, reaching for a new bottom of 0.0014, which is possible considering the descending trend. The longer ETH holds to the level of 0.002, the better the chances will be for it to find a bottom.
The Peercoin trader could vacation for a month and return to a Peercoin price still at the same rate of $0.40 - $0.41. This in spite of a considerable upward trend in Bitcoin price. The exchange rate of PPC vs. BTC has fallen more than 10%, and has already fallen to 0.00092. Moreover, miners lose interest in altcoins when Bitcoin grows.
Neucoin decreased to a price of $8 per 1000. This is to be expected. grown and stabilized at 8.7, but I doubt we should expect it to return to recent levels of $10-$11.50 per 1000 anytime soon. I suggest placing buy orders lower than $8, especially, while trading volumes of this falling market grow.
This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell Altcoins.