Litecoin value at a loss today after a leap of 40%
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Litecoin value at a loss today after a leap of 40%

By Federico Izzi - 22 Jul 2019

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The Litecoin value today retraces by 2.4% with prices around 96 dollars. It’s a drop that comes after a rally upwards: having reached the lows of the last two months last Wednesday sinking to test the 75 dollars, LTC had scored a rebound of 40%.

Litecoin chart by Tradingview

Litecoin tries to exceed the $100 threshold unsuccessfully. In this last weekend, the 100 dollars proved to be a very important level of resistance. 

Source: COIN360.com

The week begins with an alternation of red and green signs and 50% of the first 100 cryptocurrencies are in positive territory and the rest is on the other side. The start of the week sees a prevalence of red signs in the top 20. 

Only Binance Coin (BNB) and Eos (EOS) have a positive balance: BNB rises by 0.6% and EOS by 0.2%. Ethereum Classic (ETC) also performs very well, returning above $6 and today scoring a +2.5%.

The weekend has not seen particular fluctuations as it has gone by with little volatility, while volumes remain in the average of recent weeks in line with what happened during the previous weekends in July. 

Ren (REN) stands out among the best crypto of the day, rising by 18%, with about 86 million dollars of capitalisation it climbs the ranking and arrives in 78th position. 

On the opposite side of the spectrum, the worst downward movements are Metaverse ETP (ETP), which falls by about 9%, followed by Icon (ICX) in 49th position with 146 million dollars slipping by 7%, like also Japan Content Token (JCT). Both resemble last week’s volatility.

Volatility remains decidedly high as far as daily fluctuations are concerned, at 6.8%, well over 5%, the historical average of bitcoin.

Market cap tries to rise above 290 billion dollars with the dominance of bitcoin that stands above 65%, important levels even if they are not the records reached last weekend when it touched 67%. 

Ethereum tries to climb the slope of dominance at 8.3%. The same applies to Ripple, which is reacting from the lows touched on July 12th under 4.5%, now returning to 4.9% of market share.

Daily exchanges remain 98% of the time in the hands of bitcoin, which has been trading more than 3 billion dollars in the last 24 hours. It should be noted that in terms of trading volumes in the last 24 hours, Litecoin overtakes with 1.7 billion dollars Ethereum, which stops at 1.6 billion dollars.

Bitcoin chart by Tradingview

Bitcoin (BTC) value today

Bitcoin continues to fluctuate around 10,500 dollars, a level where prices have been fixed since last July 18th, following the rise that in less than 30 minutes has seen the jump in prices of over 1,000 dollars. Since last Thursday, BTC’s fluctuations have continued to be noticed around this threshold without giving any particular signals. 

Volumes in the last 48 hours have decreased by 10-15%. It is important in this phase of mutual studying between Bears and Bulls to maintain quota 10,200 dollars in order to avoid seeing prices slip to 9,800 dollars and then to 9,200. Upwards, it is necessary to break the $10,700 threshold, tested twice where the weak attacks by the bulls were rejected.

Ethereum chart by Tradingview

Ethereum (ETH)

After the Wednesday afternoon sinking, when Ethereum prices fell to $190, the rebound of Ethereum’s price is less than that of bitcoin, one step away from 23%. The prices in the last days are oscillating between 220-230 dollars without giving particular operational indications. 

In order not to suffer the downward speculation, for Ethereum it is necessary to maintain the support of 213-210 dollars. Upwards it is necessary to push over 235 dollars or preferably the return to the $255 area.

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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