- Litecoin LTC Gets A Boost As SEGWIT Operation Increases.
- Litecoin may maintain the surge in price for a while.
Litecoin has become a well-established digital asset in the cryptocurrency market, the coin has received recognition as its market cap has surged to one of the largest I the cryptocurrency market. With the launch of “Segregated Witness” which was intended for Bitcoin initially, the coin has been meeting up to market expectations by investors.
Afterward, Segregated Witness was launched on Bitcoin, which saw the trading value of LTC surging from $22 to $38 within a short period. Even with the excitement from investors as to what is to come from the activation of Segregated Witness, many investors were still uncertain about what it means.
SegWit as popularly referred to is a technology that assists in modifying the amount of block limit on a blockchain, this is done by eliminating signature data from the transaction. Subsequently, the limits are increased, changing the 1MB block size to 4MB, adding a new block weight in the process. Thereby decreasing the amount of data needed by hardware wallets and other types of separated signers.
Slight Trading Price Surge of LTC
Currently, Litecoin is ranked at #5 and is among the few currencies doing well in the market. In the past 24-hours, the market price of Litecoin surged at the rate of 0.72%, with this price surge, the current price of LTC is at $72.64. The current trading volume is approximately $2.402 billion, while the supply is at 63,315,704 LTC, the overall market cap is at $4.599 billion.
With the current price analysis of LTC/USD, it is obvious that buyers are trading safely, by trying to grow the trading price above $72. As of September 18th, the trading price has been showing mixed signals, though investors are expectant of a positive trading price. The space between the MACD lines indicates a soaring above the support line which resulted in the decline of the signal line. With the recent price development, a new resistance level was formed close to $80.526, moving the support level near $67.266 zone. In a recent publication by Litecoin, it was gathered that operations linked to SegWit have surged above 75%, with this height, it is safe to say the coin has attained a significant milestone. Currently, the whole crypto community is getting used to the features of Litecoin that came with SegWit.
Litecoin (LTC) Price Today – LTC / USD
Previously, the daily RSI was declining drastically, which has become stable overtime at 49.43. With the fluctuating price movement, Litecoin is currently trading within the neutral zone. As of 22nd and 23rd of September, the trading value is signifying a bearish price movement which is obvious the Awesome Oscillator. Traders are still expectant on the outcome of today’s trading price which will shape the near future of the coin.