Daily Altcoin Price Analysis: The Last Week Of The Year – Waiting For Surprises
Daily Altcoin Price Analysis by Frederic Racine on Cointelegraph, December 28, 2015
This is the last week of 2015, thus the coming weekend will already belong to the year 2016. The behavior of any cryptocurrencies can be unexpected now, and the market is ready to give out surprises.
So far, it is not about Litecoin, which continues its painfully slow movement in the range of $3.40 - $3.60. The previous boundaries of the price corridor of $3.20 - $3.80 were narrowed, that is caused not by definiteness in the movement of Bitcoin’s price. Meanwhile the exchange rates of the LTC:BTC pair made a start from 0.008 and reached 0.0084 for a short period. We must watch closely the behavior of the LTC:BTC pair as a lot of things depend on whether it will be possible to keep the level 0.008 again.
The decrease of the DASH price from a local top of 0.007 slowed down at the level of 0.065, thus the price hardly moves lower than 0.0063. Everything speaks to the power of DASH, but it is not the time to speak about a possible turn or even a stop of the down trend.
Dogecoin generously rewarded its supporters as it rose to 33 Satoshi, or 10% higher in two days, and it has a good trading volume! The top of 35 Satoshi allowed traders to close deals with good profit. Perhaps, the price will be corrected above the level 30 of Satoshi, but not below it, therefore the relevance of purchases lower than 30 Satoshi only grew.
ETH heroically hangs on to the level of 0.002. This level defines whether we seen a turn in the trend or the movement downward continues. For almost two weeks the price was at the level of 0.002 and below. It wouldn't be desirable to upset anyone but we see on the chart that each successive top is lower than the previous. And during the two previous weeks the ETH price was below the level of 0.002 most of the time.
Peercoin returned to the level of $0.40, and purchases lower than this level still remain favorable. At the level of $0.41 and a little below it many traders decide to take profit impatiently.
It is an important factor now that the PPC:BTC pair returned from the level of 0.0009 to the level of 0.00095-0.00097, which gives us hope of seeing a 0.001 exchange rate soon.
Neucoin presented a pleasant surprise to traders – an opportunity to make a purchase at a price below $8 for 1000 Neucoin. Then the price fought like a bird in a cage, between $8 and $8.5 for 1000 Neucoin, repeatedly crossing the level of $8.5. Good try, Neucoin!