Litecoin price declined further and it even broke the $160 support against the US Dollar. LTC/USD may correct a few points in the short term, but it remains at risk below $180.
Key Talking Points
· Litecoin price was not able to recover and declined below the $160 support before recovering (Data feed of Kraken) against the US Dollar.
· There was a break above a short-term connecting bearish trend line with resistance at $155 on the hourly chart of the LTC/USD pair.
· The pair is correcting higher towards the $160 and $170 resistance levels.
Litecoin Price Forecast
There was no respite for buyers as litecoin price did not move above the $180 level against the US dollar. The LTC/USD pair declined sharply and broke a major support at $175.
It initiated a major decline and the price even broke the $160 support to move into a bearish zone. LTC is now trading well below the $180 level and the 100 hourly simple moving average.
There are only 48 hours left from the Cointed ICO. The campaign ending on February 28th, 2018 raised over 4.2 million in ether and the company’s international expansion is a fact.
What you get for holding CTD?
The CTD token is purely an utility one. It can be used on all of their products for various reasons. Some of the goodies are available only to contributors. The voting platform is a significant step forward towards engaging the community,
- Discounts on all fees (exchange, ATM, crypto card, mining hosting & support)
- 15% on all hardware
- Option to get a custom-tailored product
- Access to exclusive mining rigs with 25% higher performance
- Voting rights
Additionally everyone who contributes 20 ETH or more gets a free crypto debit card!
As Cointed promised, their token will be hitting exchanges. Apart from their own exchange, the CTD token will most likely be available on a couple of others.The more business and clients want to use the company’s products, the more desired the utility will be. Since the supply of tokens will not be so high, this demand is expected to drive up the price.
Do not miss out
More than 15,000 people have chosen their exchange and new ATM locations are popping up weekly the team’s expectations have good chances to materialize.
Cointed are operating and profitable since 2015. Their products are already used by thousands of people in Europe. They are following their ICO roadmap closely and their international expansion will be a fact.
Having a profitable business behind an ICO is extremely rare! Most projects have only a well-structured whitepaper.
With Cointed the utility of their token is not for some future product waiting to be developed. You can use most of the benefits of the token right after the ICO, the rest until the end of the year.
So, is you are looking to invest in a real company with working products, Cointed is worth checking out! Make sure to read the latest Bitcoin News, so you don’t miss anything new about Cointed!
<p></p> ” data-medium-file=”” data-large-file=”” class=”alignnone size-large wp-image-7599″ data-src=”http://techcrunchhq.com/wp-content/uploads/2018/03/litecoin-price-analysis-ltc-usd-nosedives-below-160.png” alt=”Litecoin Price Analysis LTC USD” width=”1024″ height=”520″/>
It traded as low as $149.96 and is currently correcting higher. The price has moved above the 23.6% Fib retracement level of the last decline from the $169 high to $149 low. Moreover, there was a break above a short-term connecting bearish trend line with resistance at $155 on the hourly chart of the LTC/USD pair.
The pair is currently making a decent upside recovery above $150, but it is facing many hurdles on the upside. The first hurdle is near $160, which was a support earlier. It also represents the 50% Fib retracement level of the last decline from the $169 high to $149 low.
Above $160, the price could face a strong selling interest near $170. Therefore, any major recovery from the current levels is likely to face hurdles on the upside near $160 and $170.
On the downside, the $150 support holds the key. A break below the mentioned $150 support could initiate more declines towards the $135-140 support area in the near term.
Trade safe traders and do not overtrade!