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Litecoin price against Bitcoin (LTC/BTC) currently on the way to fell down on 0.00436707 (coincidently 0.5 Fibonacci Retracement level). The sharp dump was immediate reaction from the sudden pump that hit on intraday of 0.00467224. The obvious rejection didn’t bond well with the overall positive sentiment among LTC traders amid segwit deployment that could happen in days. Check out the status of the Segregated Witness (segwit) soft fork here.

Litecoin (LTC/BTC)
Litecoin (LTC/BTC) Daily Chart

Important LTC/BTC price levels to watch,

Year High – 0.005180 January 10 2017
Year Low – 0.00394158 January 5 2017

Litecoin (LTC/BTC)

Some Critical Price Levels for the Immediate Term

0.00467224 – intraday high January 31 2017
0.00453767 (0.786 Fibonacci Retracement)
0.00443361 (0.618 Fibonacci Retracement)

Crucial Support Levels

0.00436707 – immediate support level (0.5 Fibonacci Retracement)
0.00428744 (0.382 Fibonacci Retracement)
0.00405200 – support level January 26 2017

Overall, the Litecoin market is unpredictable identical to the outright cryptocurrency market. Litecoin is the second most active altcoin traded. The Bitcoin activity is also subdued at the moment after the Chinese government imposed stricter regulation on Bitcoin trading in China. Pending on the outcome of the segwit, LTC is expected to trade whitin greater volatility band as traders will be active position themselves on possible price pump.

BTC Exchanges and Charts With Litecoin #LTC Trading

Simple FX
BitMex Futures

Litecoin #LTC Links
Litecoin Official Site
Litecoin on Bitcointalk Forum
Litecoin GitHub
Twitter @litecoin
Reddit r/litecoin
Litecoin Website

Please let us know what your thoughts on this latest cryptocurrency sensation and update us if you have any insights in the comment section below.

Chart via tradingview, data source from Poloniex.

The author is a self-described cryptocurrency activist. Ironically, he is not involved directly on the development and mining. But a keen trader that specifically studying and analyzing the chart and prices based on zen principles of candlesticks price action techniques. And most importantly, he is always prone to deceiving price movements that can exposes to trading losses. So trading based on his personal opinions is extremely risky and not advisable.

Please do your own due diligence before making any investment decision. This article should not serve as investment advice. This post is mainly as reference and tutorial for trading on possible cryptocurrency breakout.

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