Charlie Lee is not just the advisor for HTC...

Charlie Lee is not just the advisor for HTC...

Charlie Lee, the man affectionately known as 'Satoshi lite', came across blockchain technology in 2011 and became quickly fascinated with this idea

Litecoin

LTC
Price
31.14 USD 0.97%
0.00875300 BTC 0.88%
Volume, 24h
164,420,929 USD
-20.12%
Marketcap
1,861,888,532 USD
1.6%
Emission
72%

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Litecoin [LTC] Technical Analysis: Bears retain the upper hand as bulls offer weak resistance

Litecoin [LTC] is one of the many cryptocurrencies that is facing a difficult period of late since the unexpected slump of January 10, 2019. It has struggled to get out of the bear’s grasp for a while now, which does perhaps raise concerns about the immediate future of LTC. At the time of press, LTC was priced at $31.01, way below its value of $40.79 on 8 January. It has a market cap of $1.863 billion and a 24 hr trading volume of $554 million, with a majority of it  ( $58.42 million or 9.96%) being contributed to by ZB.com, via the trading pair LTC/USDT. Finally, LTC’s value has fallen by a significant 6.45% over the last 24 hours. 1-hour Source: TradingView The 1-hour chart demonstrated a significant downtrend that extended from $33.381 to $31.106 after a brief uptrend that extended from $33.307 to $33.697.  The last point of resistance was at $33.723 while the support point at $30.744 was holding strong. The Parabolic SAR has the markers above its candlesticks, an indication of a bearish market. However, considering it’s flattening, it would seem that the bulls are offering some resistance over the last hour. The Chaikin Money Flow has the line creeping its way over zero, suggesting that money is slowly trickling back into the market on the back of the bulls. The Relative Strength Index indicates that after a point when the market was oversold and was bearish, both the buying and selling pressures have evened out. 1-day Source: TradingView The 1-day chart exhibits a continuing downtrend extending from $40.155 to $32.863 while the last uptrend was witnessed over two weeks ago and ranged from $34.289 to $40.079. The support point is holding strong at $30.411 while the last point of resistance was at $40.131. The Bollinger Bands are neither expanding nor contracting, which indicates that volatility in the market is holding steady. The MACD shows that the signal line is way over the blue MACD line and thus, the projection is one of a bearish market in the immediate future. The Klinger Oscillator has the reading line well below the signal line and therefore, suggests that the market has a bearish trend. Conclusion All the above indicators would suggest that the market is overwhelmingly bearish and shall remain so in the future. And although indicators such as the SAR, Chaikin and RSI suggest some form of bullish resistance, the near future of LTC, as suggested by other indicators, remains firmly in the bear’s realm. The post Litecoin [LTC] Technical Analysis: Bears retain the upper hand as bulls offer weak resistance appeared first on AMBCrypto.
AMBCrypto

Litecoin [LTC] clear the FUD surrounding Github commits, Pushing for the Next Stage of its Evolution

Currently down over 90 percent from its ATH, Litecoin is focusing on the mainstream adoption, brand build-up, and Lightning Network with a progressive year ahead. Litecoin working on Developments & Making it More Well-known Earlier this month, Litecoin had shared that they are looking for a good year ahead with a lot of developments in the pipeline. In the latest blog by the community manager of Litecoin Foundation, Ilir Gashi reiterated, “Things to look out for are the Litecoin Core v0.17 which reduces network transaction fees by 10x; as well as private transactions onto the Litecoin blockchain; as well as the growing adoption of the Lightning Network and Atomic Swaps.” The blog to the main part has been to counter the FUD surrounding Github commits activity indicating Litecoin’s developments is becoming more inactive, which he says is untrue. Going deep into the matter, he shared that Litecoin is in fact regularly committing on Github, however, these activities in no way means development as it does not capture the entire code construction from start to finish. Also, being an open source platform means different developers and projects get to collaboratively work together, hence Litecoin doesn’t need to constantly strive to make new innovations to achieve sustainable competitive advantage.   As has been emphasized on numerous occasions, “Litecoin aims to provide a cryptocurrency that compliments Bitcoin’s store of value proposition as well as differentiating itself as an efficient and effective financial payment solution to anyone everywhere around the world.” The 8th largest cryptocurrency has been pushing for mainstream adoption with different partnerships and is currently working on Lightning Network where it is constantly growing, now reaching 122 nodes, with 490 channels and around 56.14 LTC ($1,772.23) network capacity. Recently, Litecoin Foundation announced sponsorship of the UFC event that earned it some good stats on Twitter which according to Litecoin creator Charles Lee has been about building the brand, “So it kind of wanted like build that brand and make it more well-known and it’s really kind of helped a lot. I mean we’ve reached a lot of people, [they’ve] have reached out to us, talked about like coin just because if they heard about the UFC sponsorship yeah. I think it’s pretty cool, plus that the fight was pretty amazing.” Also, not to forget UFC announcer, Bruce Buffer’s “take control of your money and pay with Litecoin!” On the price front, while being down over 91 percent from its all-time high, Litecoin is currently trading at $31.16 with 24-hours loss of 1.07 percent. The post Litecoin [LTC] clear the FUD surrounding Github commits, Pushing for the Next Stage of its Evolution appeared first on Coingape.
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