Altcoins News
By Steven Anderson
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Litecoin [LTC] has gained well in the cryptocurrency market today. The coin raised above 6% versus the USD.
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The resistance level for this coin was seen at $34.73; however, LTC breached the resistance level and picked up a bullish momentum.
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The LTC/USD pair gained some support at $33.3 today. The trading price range for this pair has been trending at $33.136 through $35.7.
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LTC was facing a strong buyer pressure today, thus led to the breach of the current resistance level.
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The MACD early today showed strong bullish momentum. The RSI signified that the coin is being overbought.
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The EMA line indicated an uptrend at $33.16. The current market cap of Litecoin is at $2 billion.
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At the time of writing the news for the press, Litecoin was trading at $34.14.
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Litecoin is now the first company to partner with Ultimate Fighting Championship, a Martial Arts Promotion Company.
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OKEx is one of the largest cryptocurrency exchange in terms of trading volume. The exchange has enabled perpetual swaps for Ethereum and Litecoin.
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Ilir Gashi of Litecoin Foundation is the community manager. He recently published a recap of the events related to Litecoin in the year 2018.
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According to Gashi, the underperformance of the Litecoin has been partly related to the “misinformed coverage” provided by the media.
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The year 2018 marked the adoption of Litecoin by several merchant processors. There was an exponential growth of the Litecoin network infrastructure.
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While Litecoin has been around since 2011, several new Altcoins hit the market, which in turn influenced the drop in the price of Litecoin.
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Several new projects pushed down the Litecoin. The team behind LTC focuses on being relevant in the year 2019.
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When Charlie Lee sold his Litecoin when the prices were at the peak, it contributed to the reputation of Litecoin.
The Currency Analytics
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