- Litecoin price analysis – LTC/USD
- Litecoin Foundation’s fundraising yielding good result
Litecoin is also trading in the bearish zone together with other cryptocurrencies in the market. The coin’s technical analysis shows a strong bearish move while still trading below $45.50. Litecoin is the sixth most widely traded cryptocurrency in the crypto sphere.
LTC/USD pair – with a market cap of $2.82 billion, the price of the token on Saturday went back to the red zone after two days moderate surge. A fresh selling wave through the crypto markets pulled the prices lower. Despite the latest reduction, the coin remains in an accustomed trading zone between $45 and $43.
Currently, the token is trading close to its daily lows of 43.99, showing a 1% decline on the day while surging close to 0.80% over the last 24 hours. The bears have returned back to the red zone to carry out strong resistance below the 45 trade. The coin has tested the $43.90 key support, the union of 61.8% Fib level of Friday’s bounce, parallel 100-HMA, and a bullish 50-HMA.
Litecoin (LTC) Price Today – LTC / USD
A break of the bullish 50-HMA will prompt a huge selling towards the nine-month low of $ 42.35. While a break above the parallel 200HMA at $ 44.65 is required for a bullish setback. So far, the selling pressure has remained intact, while the prices remain below the plunging trend line with resistance at $ 44.50.
Going further, the bearish 21-DMA at $45.50 will continue to top the recovery efforts. The path of the smallest resistance remains to the downside amidst a lack of substantial demand area.
Litecoin Foundation’s Fundraising Yielding Good Result
The Litecoin Foundation’s determinations to raise money to fund the research and execution of privacy features seem to be yielding a positive result. The foundation has so far received 163 LTC worth about $7,230. The founder of Litecoin, Charlie Lee states that he will match every donation received through the fundraising.
According to the foundation, the money raised will be used to fund efforts led by developer David Burkett to execute the Mimblewimble protocol. Giving his own quota of donation, @TheNvsibleHand on Twitter stated:
“#Bitcoin and #Litecoin have no CEO’s, It’s up to ” We The People” If you value #Financial Privacy #MW Vote with your $ donate to its DEV. On behalf of the members #LTC fantasy. We are kicking it off with a small donation of 10.6 LTC.” Replying to the tweet, @SatoshiLite stated: “Received! Thank you.”