The cryptocurrency market seems to be acting sluggish once again after allowing the cryptos to reach for a mass rebound several days ago when all the top trading currencies including the lower ranked assets went up against the fiat.
After the spike, there came another dip to “even” things out to see the currency dropping against the dollar heading towards losing the gains collected only 24 hours before. If anything, traders can profit from buying dips, as well as any crypto investor following the rule of “buying when low, selling when high.”
Litecoin (LTC), Stellar (XLM), and Bitcoin Cash (BCH) are all dropping by at least -1% against the fiat today, as BCH is losing almost -3% of its value in the latest dip.
However, it is expected to see LTC, XLM, and BCH being pulled out of the crisis in the weeks to come, so here is how buying latest dips could increase traders’ chances of scoring a finely tuned profit.
Buying the Litecoin Dip: Oscillating Realistic from 50$ to 56$
Litecoin (LTC) might have gone through several “shameful” moments when the currency dropped two ranks down from its long-held spot of the fifth largest crypto to allow Stellar (XLM) and EOS (EOS) to take its place, however, LTC is still holding onto the top 10 list despite the fact that many investors are letting go of their opportunities by selling LTC units at its lows.
LTC even touched the value of 50$ during the last 24 hours, but it didn’t decline below the initial value, spiking up to get back to the value of 53$ despite the negative market trends. On October 18th, the currency is being traded at the price of 52$, but since Litecoin is being pulled down with the latest dip, it may once again decline towards 50$, however unlikely to go below to 49$, which would be a new low.
On the other hand, it is considered that another spike is awaiting LTC and its dropping peers in the days and weeks to come, so bought at the low of 50$, Litecoin can despite that fact reach the price of 54$ to 56$, less likely to go up and break the value of 60$.
In the expected bull run as per the last year’s case, LTC might be in fact able to get past the value of 60$.
Buying the Bitcoin Cash Dip: BCH Could Break the Resistance from 470$ to 472$
Bitcoin Cash had an amazing bull run during the beginning of the current year of 2018 when the most popular Bitcoin hard fork managed to reach an all-time high of 3780$ per one unit, showcasing its ability to compete with “big boys” of the crypto space.
However, since making it to its record value of nearly 4000$, BCH lost almost -90% of its total market capitalization, now being worth around 436$. Although dipping BCH is keeping positive returns on a YTD chart, going up by over 30% during the last year.
With a decent percentage of rising up against the sluggish trends in the market, BCH is still dropping by almost -3% on October 18th in what seems to be a three-day-long market dip.
Trading at the price of 436$, BCH is said to be more likely to break through the resistance of 470$ and even 472$ in the following weeks.
Buying the Stellar (XLM) Dip: XLM Might Have the Greatest Odd for Rebounding
Stellar (XLM) although dropping at the current moment with the rest of the market, has shown quite a progress during the last several months. Stellar managed to climb closer to the top five cryptos, securing the spot of the sixth-largest currency in the market.
XLM is now being traded at the price of 0.23$ and it even went down to 0.22$, however, it didn’t keep declining to go below 0.19$, that way having fair odds for going above its initial value of 0.23$.
Stellar, although at the top, never made it to the price of 1$, but it can easily be its targeted value to the end of the current year given the fact that XLM is already recording over 600% of gains during the course of the last year.
It might be easier for XLM to get back to its record price of 0.75$ in case the coin manages to break through the resistance of 0.30$ still away from then mentioned target during the current dip.
However, buying the dip might eventually pay off since everyone is expecting to see a similar spike like the one the market went through at the transition between 2017 and the current year.