Litecoin News Today – Litecoin LTC Price Continues Steep Downtrend – May 23rd, 2020 

  • Litecoin LTC continues in a steep downward pattern
  • Litecoin LTC’s Charlie Lee said users wouldn’t be forced to update
  • The LTC/USD pair is locked in range with a bearish bias

Litecoin news today – After the price of BTC fell via the charts, the digital assets in the market quickly followed including Litecoin. Litecoin price was badly affected by the fall even before its much-awaited halving event on May 11. However, even though the coin recovered well following the aftermath, the gains posted herein have almost reversed in the present fall. The price of LTC gas dipped by 3% in the last 24-hours. The magnitude of this latest decline in the price of Litecoin was evident in the Bollinger Bands. The charts show that the mouth of this indicator was growing wider and wider as of when this content was eaten. Additionally, the signal line for LTC/USD continues to surge ahead of the MACD pattern via the charts.

Litecoin Price Prediction – Litecoin’s Charlie Lee said Users Wouldn’t be Forced to Update

There haven’t been reports of regular upgrades on the development side for Litecoin, apart from the intermittent MimbleWimble report. Litecoin’s Charlie Lee was recently in the news after assuring the community against any difficulty in MimbleWmble implementation. Lee claimed that the process will be like a ‘learning curve.’ Lee, the creator of LTC shared his views regarding how the network will operate after the MimbleWimble solution has been implemented. Speaking in an interview, Lee explained that the implementation may be slow at the beginning because users will not be forced to update. Finally, he added that the bulk of crypto exchanges were ready to facilitate the upgrade as it wasn’t expected to be affected by any regulatory difficulties. Lee argued that the hidden inflation is a risk that LTC users should willingly take.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$42.03

Litecoin Price Prediction – Litecoin’s Price is Down by 1.5% at Press Time

As of when this content was written, the LTC/USD pair was changing hands at the $43.40 area. The coin is down by 1.5% day-to-day. The digital asset has recovered from its intraday low of $42.33, however, the upside momentum remains low. LTC/USD continues its movement within the short-term bear trend despite low volatility. Via an intraday position, LTC/USD has been supported by the above intraday low with the Bollinger Bands’ middle line located on the approach to that area. If this pattern is broken, the ongoing sell-off could be extended to $42.00 – $41.90 (which is the lower line of the Bollinger Band via the hourly chart) and $41.00. LTC’s recovery is just limited by its intraday high and the 50-day SMA via the 1-hour chart at $43.75 and the 100-day SMA at $44.50 on the same chart.

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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