LITECOIN Seeing Two Weeks Of Price Stabilization -- Longest EversteemCreated with Sketch.

in litecoin •  8 months ago 

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We've more or less seen some price stabilization with LTC since September, going on over five weeks. The last two weeks we've seen prices all but flatline though in the trading space just above the $50 level.

For LTC, I personally think this is a pretty good stabilization point, and what I was expecting. Obviously if we see a longer pullback to something lower, this is better in terms of amount we're able to purchase. We haven't started to break out into a bull market yet. So many of the cryptos are at their consolidation level and stabilization zone. The longer we see prices here, the more likely it is that we'll see continued trading here with the supports holding. From here, it will be all but guaranteed we will see a bull move -- again, that only comes with longer stabilization.

If we see a break of supports soon, we will assume there's a bit more to pull back. Bitcoin has been constant above the $6,000 support, so there's a case for the current levels being the floor while bulls take time to realize the bulls are tired out.

Nothing has been in the news lately for the crypto markets, which means natural market cycles prevail. If we see the natural market stabilize here, my inclination is that we will see the next bull rally and market begin.

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Thanks for posting todays update on LTC ,