Breakdown

Litecoin crashed to $43 after the last bearish impulse. Previously, the coin had been trading above $50 for over a month before the market went up. This sudden price jump hit resistance at $65. After a pullback, the bulls retested the resistance to form a bearish double top pattern. This pattern formation led to a further drop of Litecoin to a low of $43.

As bulls and bears struggle below the resistance at $50, the bears seem to have the upper hand. On November 29, the bulls were resisted at $50, and the coin drops to a low at $46. The bulls pulled back and retested the resistance at $48. Litecoin is now in a downward move and it is likely to reach the previous low at $43. A break below the previous low at $43 will depreciate Litecoin to drop at $36. Meanwhile, a defense by the bulls at the current support will make the coin resumes a sideways move and probably form a price range. From every indication, the coin may fall since it is under bears’ control.

The Bitcoin (BTC) price rallied 11% on Thursday, November 29, to over $4,250, setting it on course for its largest daily increase since mid-April 2018, as it forced itself out of the recent breakdown. The global's largest and popular crypto hit a daily high of $4,296. Other major cryptos also surged. BTC has lost over 1/3 of its value in the past 15 days amidst high selling affliction.

The Bitcoin (BTC) price has dropped back from eight-day highs on Friday morning, September 14, and it could be in for a bulge of solidification before further upward movement happens.

German Gref, the President of Sberbank, the largest bank in Russia and Eastern Europe, and the third largest in Europe, spoke about the complete breakdown of the traditional banking system within just 3-5 years. He predicts giant changes in the banking industry sooner than most people expected.