According to the candlestick chart connected to the LTC/USD pair on tradingview [based on data obtained from the Bitfinex Exchange], sellers are the dominating force prevalent in the market. The daily RSI [for 14 periods] is at 38.88 indicating that Litecoin is adjacent to the oversold zone, although it hasn’t left neutral territory yet. However, further decline would bring its price down to $50 and cause more problems.
Support can be found near $53.182, and resistance may be felt if Litecoin manages to head towards the $60.2 mark. From yesterday onwards, the MACD line began inching closer to the signal line, leading to the green histogram fading out. The Awesome Oscillator peak was brown a day ago, but it seems that bullish momentum may still impact “Silver 2.0”.
It’s actually a very good thing that people read the financial statements of @LTCFoundation. How many coins have that transparency? How many coins’ staffs cut their salaries voluntarily? @LTCFoundation has a group of super loyal people who truly believe in what they are doing.
— Xinxi Wang (@TheRealXinxi) October 16, 2019
Litecoin is ranked at #6 in the market below Bitcoin Cash. The trading volume recorded stands at $2.543 billion, while the supply has 63,477,354 LTC coins involved as part of the circulation. The total market cap of Litecoin amounts to $3.502 billion. The price dipped at a rate of 0.92% in the course of the past 24-hours; this led to LTC sinking all the way down to $55.18 where it currently holds.
A news report published by litecoin.com details the partnership with the San Diego Film Festival. Those who attend SDIFF 2019 with the 6-day festival pass will have ownership over some LTC. One can use these coins to donate to a film he or she enjoyed watching.
“The filmmaker/film that receives the most Litecoin donations will be awarded with the Litecoin Foundation award on Saturday Oct 19 at the Filmmakers Award Show.” Tonya Mantooth, the CEO of SDIFF praised the growth of cryptocurrencies. Charlie Lee once again spoke of the immense need for mass-adoption.
About Post Author
Be the first to comment