Important Litecoin News
Litecoin Closer to Lighning Network with Casa LN
The search for faster transactions is a key problem in the cryptocurrency space. This is why the founder of Litecoin, Charlie Lee, was thrilled to have it implemented in Litecoin as shown in a recent tweet when he asked the Home team when he planned to extend support to the Litecoin Network.
In the tweet, Lee mentioned that the network routers will be equipped with a lightning network incorporated in the future.
Responding to Lee's tweet, the CasaHodl team said support for the Lightning network for Litecoin will be available by the end of the year. An excited Lee said he did not expect a quick implementation from the Home team. He then stated that this was the reason why Litecoin was built to integrate Bitcoin instead of competing with it.
The Node House Team for the Lightning network has been adapted for Bitcoin. The similarity between the codes of the two digital platforms makes it easier for companies to tailor Litecoin with what has been done for Bitcoin.
Litecoin Rose at nearly $ 70 before falling
Litecoin earlier this week traded more than $ 68 before retreating again thanks to the dip in the coin market as a consequence of the Announcement of Goldman Sachs who was not moving forward with his planned Bitcoin Trading Desk.
$ 70 was seen as a psychological and technical point of resistance for LTC so observers and market analysts anticipated the tendency that the currency would take when it was close to the mark. However, Wednesday, LTC lost more than 13% just like most other altcoins did.
The last peak in the value of LTC was favored by a series of positive news associated with the currency as the House announcement that would soon support Litecoin with its LN and the upcoming Litecoin summit that will be held in San Fransico in a few weeks.
Litecoin is down 14%
Litecoin is currently trading at 58.23% of dollars with a bearish pressure that loses 14.17 percentage in the last 24 hours. It is certainly below the main trend line according to the quadruple graph now. The currency is currently in the moderate sales region and the short-term trend is downward.
The currency is trading below the SMA 50 days after the collapse of the infra-day low. With a downward movement below the trendline, the support located at $ 49.466 could be the destination if there is no trend reversal in the next two days. Fibonacci retracement areas are above these areas.
Trading View confirms this by using Bitfinex data, "If we start doing a pullback then luckily we have the EMAs that work like the supports and we have a countertendency that could work as a support. If it breaks below the line This trend is very negative for the Litecoin price and we could go back to testing the $ 50 again. Furthermore, it depends on what the whole market does. "
LTC / USD price chart, Thursday 6 September:
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