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Latest news about Litecoin
His step at a time and the pace of Litecoin is slow but steady. Even if prices fall to historic lows at a time when Tushar Jain took on thrashing Litecoin on Twitter, founder of the Litecoin foundation and the owner of Litecoin.com have a different view of what is the seventh most valuable coin. For one he really thinks that Litecoin is a unique ecosystem, an independent network that has no business competing with Bitcoin, but rather integrates it. Regardless of the low volumes, millions are still moved onto the network with $ 62 million recently transferred for less than a dollar.
To read: Over $ 28 billion thrown into the biggest crash of the Crypto market
Obviously, this is mainly due to the low transaction fees and the bolder plans for further tax cuts by a factor of 10 once the core of Litecoin 0.17 is active. Efforts like this will surely increase companies that adopt Litecoin as a payment method, such as the Zulu Republic, a separate wing that promotes Litecoin for businesses, has an easy time to promote the adoption of Litecoin.
Read also: The next cryptographic fund is extremely bullish on Cripto Infrastructure and Adoption
Meanwhile, the network is working to resolve scalability. By creating a successful partnership with Lightning Labs, we are working on scalability and at the same time the prospects of atomic swaps lay the foundations of an interconnected future that allows the continuous flow of different assets without the need to go through a central exchange.
Analysis of LTC / USD prices
Weekly chart
In seventh place, LTC / USD fell 18 percent in the last week, but stable in shorter periods of time. However, we expect further losses now that the dragging of Bitcoin Cash's internal wars has had an effect on other altcoins.
With bear hikes and the start of a sell-off that saw LTC penetrate and close under important support lines now $ 50 resistant, conservative traders may also begin to sell off LTC with the first targets at $ 30 online with the previous LTC / USD iterations.
This is notwithstanding the LTC / USD already down 80% compared to the peaks of 2017. In addition, the breakout is printing behind the high market share: 1.21m twice the weekly average of 600k. Assembly stops would be $ 50.
Daily chart
The 18 percent decline in LTC / USD was enough to trigger a collapse that pushed prices below significant levels of support. Now, with several bars closing under $ 50, the conditions set in our latest business plans are now active. Therefore, aggressive traders should jump in, shorting the pullbacks in the direction of the least resistance path.
Ideally, our first bear goal is $ 30, another level of support. At the same time, the appropriate arrests should be at the high of November 14 of $ 50. However, if prices were to expand and the bulls would exceed $ 50, then we will return to neutrality while waiting for the bulls to push prices further towards $ 60, turning on short-term purchases with $ 70 goals.
All graphics courtesy of Trading View
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
