Litecoin price analysis: LTC / USD consolidates over $ 55.00 as Litecoin Core releases software update

  • Litecoin is back in the area above $ 55.00.
  • Litecoin Core v.0.16.2 has been released.

Litecoin is changing hands at $ 55.16, at the weekend minimum at $ 51.90. The currency has gained over 4% since yesterday and reached the range of the previous week, although it is still 15% lower on a weekly basis. Litecoin gets the 7th place in the cryptocurrency rating with the market value $ 3.24 billion and the average daily trading volume $ 271.

Meanwhile, the Litecon development team has released the long-awaited software update Litecoin Core 0.16.2. According to the press release, the new version has an updated database format. The nodes (v0.8 – v0.15) automatically pass in the new format within half an hour; however, operators that run nodes v.7 or earlier will have to reload the entire blockchain.

In addition, the new version is not compatible with the wallets created in 0.16 and later. The team encourages everyone to report bugs or problems if there are any.

"Although the heavy tests of this release may still contain unexpected bugs or bugs, make sure you've backed up your wallet's data file before running the recovery update at a later time. some problems, please report it to the Core developers through their github problem page. "

Litecoin's technical framework

In the short term, LTC / USD is in a narrow range limited by SMA50 (1 hour) to $ 54.37 on the downside and SMA100 (1 hour) to $ 55.46 on the upside. The next support will arrive at $ 52.80 and $ 51.90 (current Saturday). The resistance is created by $ 60.00 psychological followed by SMA200 (1 hour) to $ 60.25.

LTC / USD, 1 hour chart

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