Litecoin Trading LTC/USD Technical Analysis, Dec 11: LTC Hits New 2014 Low

Litecoin (LTC/USD) has found itself once again hitting new 2014 lows, briefly touching $3.35 on BTC-e during a similar drop and reversal sequence to that of bitcoin.

Although LTC's performance has been respectable of late--it even advanced to two-week highs three days ago--recall that its recent flat/positive behavior has all been taking place in relative proximity to its lowest point in 2014. On October 7th, LTC fell to $3.39 on BTC-e and its 50-day moving average (MA) is currently $3.63, only seven percent higher.

So when LTC fell off its recent highs 48 hours ago, the plunging of new lows became a real possibility, and with it, a resumption of LTC's lengthy slump that took a two-month pause.

LTC has since jumped back up to $3.44 but, with the breach, the damage may have already been done, and a resumption of declines toward $3 during the next two weeks is possible.

Versus Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, which has yet to test 2014 lows below $300 during its latest fall, LTC has slipped back below 0.01 BTC. This psychologically important level has been a tough one to hang on to, with stiff resistance encountered just above the mark for about a month.