- Litecoin’s CEO shares the company’s 2020 vision with the community
- Litecoin Price Analysis – LTC trading in the bullish zone
Speaking with Peter McCormack in a recent interview, Litecoin’s founder Charlie Lee talked about Litecoin’s vision for the year 2020. He stated the intent to add an extension block to its blockchain to enhance the network’s set-up. Though he added that it will be a gradual process, but the team would ensure perfect things in the right way.
When questioned on LiteBank initiative, Lee stated:
“Yes, the LiteBank is something of a prototype that we are working on. Last year we had purchased this bank who was working with crypto-related progress. It is a process that we plan to execute slowly as something of this sort has not been done before. We will see how we can play around with it and create cool stuff.”
Nonetheless, the announcement does not influence the price trend of the coin as the market is run by projected sentiments and technical factors
Litecoin Price Analysis – LTC Trading in the Bullish Zone
LTC is currently rising above the 100-days EMA to surge higher and face resistance at the $55.03 level, which is provided by a short-term bearish trend at .618 Fib retracement level. so far this year, LTC has had a strong bullish stance as it recovered from support at $39 and surged higher. The recent price surge above $50 is influenced by the 6% of BTC price surge. LTC’s price has managed to break above the December highs at $47.76 and the 100-days EMA at $50. The price of the coin is now deemed to be in the bullish zone. For the price to enter the bear’s zone, LTC must decline below support at $38.
If the bulls persist in its price surge above $55, close resistance is to be anticipated at $56 and $60.20. The resistance at $60 is considered to be major as it is supported by the 200-days EMA. If the bulls can surpass the 200-days EMA, resistance is close at $61.64, $63, and $64.81.
Also, if the traders decrease and pull LTC lower, initial support is situated at $50, where the 100-days EMA can be found. Below this, further support is seen at $47.76, $44.31, $42.63, and $38.37. The RSI is sited well above the 50 level, which indicates that the bulls are dominating the market trend.
Litecoin (LTC) Price Today – LTC / USD
LTC/USD – this week LTC recovered from the 0.0056 BTC level. it continued to increase until it faced resistance at 0.0064 BTC, which is provided by the 100-days EMA level. However, if BTC continues to increase, it might mean LTC will decline against BTC. For now, LTC stays neutrals against BTC until it can break above the 100-days EMA and the December high at 0.0064 BTC. For this price to turn bearish, LTC must decline and break below the support at 0.0055 BTC.