Litecoin Is Poised For A bull Rally As Founder Agrees to Meet Warren Buffett and TRON’s CEO Justin Sun Over Lunch

It would appear that Tron chief executive officer, Justin Sun is the first to RSVP the anticipated $4 million lunch with Warren Buffett. His position was announced via Twitter. Charlie Lee, who founded Litecoin and was once an employee of Google and Coinbase, will also be attending the lunch. The event is slated to happen in two weeks at a yet to be disclosed location in the Bay Area. It could be at a nice steakhouse. Something to appeal to the hearts of the investor who has been nicknamed the “Oracle of Omaha”.

This recent news comes after TRON founder, Justin Sun, who is also behind BitTorrent and owns other entrepreneurial ventures, took to his Twitter page to reveal that he intends to invite legends into the crypto space.

Litecoin (LTC) Price Today – LTC / USD

Name Price
litecoin
Litecoin
$72.97-3.18%

Lee Didn’t Make the List of Guests for the Event

Interestingly, Lee failed to make it into the lists of guests proposed by the industry commentators. Anthony Pompliano, who is well known for his use of the term “Long Bitcoin, short the bankers”, remarked that Andreas Antonopoulos, former Wall Street banker Caitlin Long,  analyst and economist Murad Mahmudov, Hester Pierce of the SEC, Fidelity’s Abigail Johnson, CZ, and Vijay Boyapati are going to make up the “dream team” that will ensure that the “Buffett of Bitcoin’s future potential” initiative is launched.

Such a team would be known for their revolutionary ideas about Bitcoin and their adventures on Wall Street along with other areas. Let’s see how Litecoin performed below.

Litecoin’s Bulls are Preparing For the Next Bullish Action

Litecoin price stayed well bid over $120.00 and $125.00 which are both support positions. The LTC price is currently trading at a positive angle. It appears to be preparing for the coming bullish break.

Recently, we also saw solid gains in the prices of Bitcoin, Ethereum, XRP and EOS. Litecoin, on the other hand, sought consolidation against the USD. The LTC/USD pair had corrected lower much earlier, but remained favorites above $120.00 which is a support position.

LTC price traded at $126.15. It remained above the 100 SMA. It ultimately started a steady rise that saw it climb above $130.00.

There was also a break above $135.00 and the 50% Fibonacci retracement position via the last decline beginning from $144.23 to $126.15. However, the upward price movement for LTC was capped at the $140.00 resistance area.

LTC price was rejected at 76.4% Fibonacci retracement position via the last drop from $144.23 to $126.15. At the moment, LTC price is consolidating under $140.00.

The Main Support for Litecoin Price at $120.00

There’s a major breakout trend forming with resistance at $137.40 via the 4-hour chart of the LTC/USD pair. An upside break would take LTC price above $140.00 and $144.00.

The next important resistance is at $150.00. A downside break under $130.00 would take LTC price to $126.15.

Litecoin price main support position is at $120.00. This position is likely to act as the support level. As long as Litecoin price is over $120.00, it will still be supported for more gains. Via the upside, the primary hurdle is close to $150.00. Above this position is $165.00 which is probably easy for Litecoin bulls to move over in the near term.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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