At current prices, I see Litecoin as a super buying opportunity.
Now, you can wait for a more conservative entry around $64.00 but it may move up without getting lower? So choice is yours (or not take the trade at all). I see this as a healthy pullback.
Risk Reward 3.7:1
I feel this is a load-up type of coin (if that makes sense).
Beginners: This is nicely priced coin if you're a new trader where you can just dip your toe in the water by buying just one coin, as its nicely priced. Note: be prepared to accept a loss, don't come crying to me if it's a loser- that's trading =).
Hope this helps.
Sean Vengan Professional Cryptocurrency Trader and Trading Educator.
Yes it's poised to move up again soon, I believe so too.
UnknownUnicorn1063189
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@Batcash, =)
setsuna313
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LTC going around 64-66 USD. Still waiting for the buy signal. Seems legit for longer term but an entry of 54-56USD would be much better. I like stablecoin :)
sid1216
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Hello,
I have been noticing recently that prices of all the three coins listed on coinbase app is usually higher that their prices listed elsewhere. For example, at the moment, litecoin is at $62.03 on this website and on coinmarketcap.com as well, however its price on coinbase app is at $68.40. Do you know the reason behind this? Can you suggest any other platform to buy litecoin, other that coinbase? Thanks
UnknownUnicorn1063189
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@sid1216, Yes the reason is that currently, cryptocurrencies markets are highly unregulated.
Whereas Futures and Options have a "governing body" overseeing things, cryptocurrency trading does not, this means prices vary considerably between Exchanges and websites that buy and sell coins, like Coinbase.
Some traders known as "arbitrage traders" take advantage of this price difference, meaning they buy cheaply from one Exchange and flip it on another.
Unfortunately, to convert your fiat currency to cryptos there is still a middleman cut and in most cases its high.
abdougo83
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@SEAN_VENGAN,
Tmr
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Hello, any updates. you believe it will still go up or its a downward trend to below 60. Thanks
UnknownUnicorn1063189
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@Tmr, Hi yes I don think its going higher (the Market is still digesting the Chinese news re: banning of new ICOs.
I dont see a buy signal yet but lets stay alert.
The more aggresive trader will enter long here at these prices (currently $64.97) and place a stop loss where their they feel comfortable with their risk.