The Currency Analytics
By Maheen Hernandez
The support level for Litecoin went down, and there is a bearish trend seen for this token. In the 4-hour chart, resistance is seen at $32.
Litecoin has recently begun to get some media attention. The network of Litecoin is built enough thoughtfulness, and it is all set to release its potential in 2019.
For Litecoin to people the people favorite, it need not overtake Bitcoin or Ethereum.
The price of Ethereum was seen trending by resistance levels at $240, $250, and $260 respectively. Support levels were observed at $100, $90 and $80 respectively.
Litecoin has a cryptocurrency ecosystem of its own. The algorithm that Litecoin is different from Bitcoin.
It cannot be denied that Bitcoin is the pioneer in the cryptocurrency space. Litecoin might not overtake Ethereum or Bitcoin, but it can bring in some decent returns.
For those who are interested in the cryptocurrency market, but are not wealthy enough to go for Bitcoin or Ethereum, can choose Litecoin.
Litecoin is on the canvas for a lot of activities. They have recently sponsored a UFC fighter. Ben Askren recently tweeted on how happy he was to have been sponsored.
Charlie Lee, recently tweeted that he was excited to see the LTC community come forward to support Ben Askren. Litecoin recently mined its 60 million coin.
A fork is however scheduled for August 08, 2019.
For whatever reason, Litecoin will thrive in the future. While the price is delaying the adoption, with improved popularity and use cases adoption will happen.
The company is focusing on improving adoption. When there is increased adoption, it will be possible for the Litecoin to move out of the bear market.