Litecoin News Today – The Price of Litecoin is Vulnerable Short-term But There is Light At the End of the Tunnel – May 6th – 2020 

  • The price of Litecoin is vulnerable in the short-term 
  • Litecoin LTC price is changing hands at $46.82 with daily marginal gains 
  • Litecoin’s price has recovered from Monday’s low point of $45.26

 

Litecoin news today – You will recall that it is not over 24-hours ago that we reported that the Litecoin network has moved a step closer to implementing it’s increased privacy solution. Per the report, the lead developer of the project, David Burkett, said that he had created a functional testing framework. His testing framework builds valid transactions, headers, and blocks. The protocol has progressed as the integration of MW (MimbleWimble) with Litecoin’s Codebase has been implemented. This is meant to increase privacy during Litecoin transactions. And considering the approaching Bitcoin halving event, it is safe to say that everything looks good for Litecoin in the short-term despite the recent bearish picture painted by analysts. Although there is still some form of vulnerability in the short-term outlook. Let’s see more about how Litecoin performed over the past 24-hours.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$45.00

Litecoin News Today – The Price of Litecoin is Vulnerable in the Short-term Outlook

The LTC price is vulnerable to the fluctuations within its current range. The digital asset despite the positive news and developments happening within the LTC network and the tendency for the bulls to hold control as BTC consolidates after it’s halving event which is scheduled to happen in a few days. The price of Litecoin appears to follow the current overall market pattern. The market is safe for now and Litecoin’s price isn’t an exception. As of when this content was published the LTC/USD pair is changing hands at the $46.82 area after posting marginal gains on a day-to-day basis and as the trading day began. The coin is likely going to go higher from this point. 

Litecoin Price Prediction – Litecoin’s Price Has Recovered From Monday’s Low Point of $45.26

The number seven largest digital coin has reportedly been moving in sync with the digital asset market. The coin has managed to recover from Monday’s low point of $45.26. Not that, the further upside for Litecoin’s price will likely be limited by the major resistance positions between $47.60 and $48.00. These resistances were created by a combination of the 1-hour Simple Moving Average 50 and Simple Moving Average 100. These Moving Averages initially stopped the upside during the past weekend. After this move, they confirmed their position as a strong resistance for the digital asset. Litecoin price is up by 0.9% over the last 24-hours. The digital asset has a total market cap of $3,064,831,973 over the last 24-hours and a 24-hour trade volume of $4,341,506,202. Litecoin also has a total supply of 64,668,468 LTC.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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