Fellow Steemit Users, it’s always a good day in the crypto-space. Whether markets are up or down, a wise trader can always find a way to turn a profit! Sometimes it is all about finding arbitrage opportunities between various trading platforms, sometimes it is about anticipating a rise after a coin experiences a slump, and sometimes it is just about holding your coins and watching those values tick higher. Whatever your preferred method of trading, we here at Cryptonews 24/7 will strive to provide you with daily analysis of various markets to help you in your quest to acquire more wealth, no matter how much or how little capital you are starting with.
When analyzing cryptocurrencies, it is important to look at historical trends in addition to the current market trends. This expansive analysis can provide you with a better picture of where the market has been, and thus, where it might be trending towards next.
Here is what the 1-Month Chart is looking like:
Here is what the 5-Day Chart is looking like:
Here is what the 1-Day Chart is looking like:
The past 24 hours has given us our first hint of a reversal in the Litecoin markets. After a week of nearly continuous downward momentum in the value of Litecoin, there was a reversal at $90 and the value recovered back up to $100. It should be noted that similar reversal occurred twice at the end of May before the markets resumed their downward momentum. Today's recovery is almost identical to the May 29 recovery that is visible on the 1-month chart, and as a result, we here at CryptoNews 24/7 are cautiously optimistic that this could be a sign of some strength returning to the market, while still keeping an extremely careful eye out for any sign of a resumption of downward momentum.
We hope that you have found the above information useful, and we wish you the best in all of your endeavors.
Sincerely,
CryptoNews 24/7
Disclaimer: As with all investments, only invest in cryptocurrencies up to an amount of money that you are willing to lose. All information contained in this post is designed to reflect the personal musings of CryptoNews 24/7 and should not be construed to constitute financial or investment advice. We here at CryptoNews 24/7 seek to provide information about the cryptocurrency economy and not to offer investment advice or suggest any course of action. Nothing contained within this post should be construed to be an endorsement of any cryptocurrency or trading platform that is mentioned. Do your own research and contact your financial advisor prior to any investments. Invest at your own risk.