The Litecoin {LTC} Genesis Block was mined roughly 8 years ago; price prediction enclosed

October 8, 2019 David Litecoin 0

In accordance with the candlestick chart connected to the LTC/USD pair on tradingview [based on data obtained from the Bitfinex Exchange], this top-ranked altcoin is being backed by buyers i.e. it can be interpreted as a sign of relief by hundreds of LTC HODLers scattered around the world. From 30th September onwards, the peaks tied to the Awesome Oscillator all bore the green shade, pointing to the gradual increase of bullish momentum.

Support can be found adjacent to the $50.586 level, while resistance may be felt near the $67.322 mark. From 7th October onwards, the MACD line started heading north of the signal line, signifying the proper arrival of bullish momentum. The daily RSI [for 14 periods] is at 40.84, which means the Litecoin has managed to land amidst neutral territory as of this moment.

By tomorrow, LTC may venture towards $60 and fresh buyers will push it forward even further.

Litecoin is ranked at #5 to the south of Tether and Bitcoin Cash in the market. The trading volume recorded stands at roughly $2.824 billion, whereas the supply has 63,421,292 LTC coins involved as part of the circulation. The total market cap of Litecoin amounts to $3.646 billion. A growth rate of 3.88% was felt in the course of the past 24-hours; this brought LTC all the way up to $57.49 where it presently rests.

Back in April, May, and June, Litecoin had risen through the ranks to become one of the most valuable assets amongst the top-10 projects in the market [alongside Binance Coin]. Post-halving, the price of LTC declined drastically, which led to numerous investors expressing their grievances over the slow development of the network. Charlie Lee later reassured LTC HODLers that he’ll keep funding the project till a proper system for treasury has been established

About Post Author


Aditya Chatterjee

A specialist in comics and cryptocurrencies with an inclination towards DASH and Cardano. I have an innate desire to be a seasoned trader in the near future. Analyzing candlestick charts is a personal hobby.

Be the first to comment

Leave a Reply