Litecoin News Today – Top Headline for Litecoin LTC, November 5th

  • Litecoin (LTC) Surges With 6% on the 1-Day Chart Clearing Numerous Resistance Levels 
  • Litecoin’s Summit – Ron Paul Receive His First Bitcoin

Overtime Litecoin has stamped its presence in the crypto space contending strongly with giants in the market. Currently, the coin gained over 6% in 24 hours. The LTC/USD pair is trading at $62.00 which is the best level the coin has attained since October 28, the coin has a market value of $3.9 billion. 

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$44.332.04%

The positivity surrounding Litecoin may be due to Litecoin Summit that took place in Las Vegas during the weekend. Ron Paul, a former congressman was one of the keynote speakers of the event, where he received his first Bitcoin from the co-founder of Chinese exchange BTCC, Bobby Lee. He stated on his Twitter page while speaking on his experience with the crypto-friendly former U.S presidential candidate. Lee went thus: “Forgot to mention, I also gave Dr. @RonPaul his first Bitcoin, loaded into a nice @BalletCrypto gold-plated REAL Bitcoin wallet.” 

 

Going by the price chart, LTC/USD pair has formed consolidation above $60.00 and came close to the next resistance which is established by the upper line of the daily Bollinger Band at $62.40, a viable move above this amount will permit the recovery to gain traction with the next concentration on the recent top of $64.10, subsequent by $65.00. While on the downside, the previous resistance of $60.00 now serves as a support which is followed by Simple Moving Average 50 (SMA) daily currently at $59.00 and $57.80 that is a higher frontier of the broken consolidation zone that restricted LTC movement in October. The sell-off may be prolonged towards $52.80 if the resistance is broken.

Litecoin’s Summit – Ron Paul Receive His First Bitcoin 

As of 4th November, Litecoin rallied by 5.23% after a 0.07% decline from Sunday, LTC wrapped up the day at $61.41. At the start of a new day, LTC fell to an early morning intraday low at $57.96 before finding support. Moving far from the initial main support level at $57.49, after rallying to a late intraday high at $62.85.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$44.332.04%

Failure to hold onto $62 levels could see Litecoin back to its previous trading price, a decline through to sub-$60.70 levels would bring the first key support level at $58.63 into action before seeking price recovery. With the price movement, at the end of the day, Litecoin should be able to steer clear of sub-$60 levels. For the rest of the day, Litecoin would need to hold onto $62 levels to support a run at the first key resistance level at $63.52.

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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