Litecoin (LTC) is the cryptocurrency that is in the focus of our latest digital currency news, mostly because of its recent surge which set a fresh 2019 peak. The altcoin managed to rise by more than 11% against the dollar, establishing an intraday high at $37 on a bounce from the near-term ascending trendline support.
Also known as the “digital silver” cryptocurrency, LTC was consolidating since December 27th in a strict range much like its peers across the crypto-board. The new buying sentiment followed OKEx’s launch of Ethereum and Litecoin based perpetual swaps.
Right after the launch, Litecoin attempted a rally that pushed the altcoin close to the $35 margin, after which it rose even more and reached its interim bullish target. Currently, the price action is stable.
From the technical analysis, we can see that the Litecoin price is forming a pattern structure that is defined by a triangle – with the $34.92 as the current neckline and $37,59 price point as the breakout target. Even though there are also signs of a pullback scenario and a possible correction, this could be a great opportunity for Litecoin (LTC) to lead the market and even reach the $50 margin soon, which is in every investor’s focus.
At press time, Litecoin (LTC) is trading at $36.07 with a $59.9 million market cap.
Crypto Payments Platform CoinGate Begins Its Lighting Network Trial With Litecoin (LTC)
"VPNs are to be honest one of the most frequently used services by crypto-enthusiasts (what we see by our data). However, due to quite low price, it is usually a no-win to pay for it with Bitcoin or Litecoin; and that’s exactly what Lightning should solve. That’s what we are trying to showcase – paying even for low-priced products should be possible, convenient, and cheap using cryptocurrency."The first merchant to use the LN on Litecoin will be Surfshark which is a VPN provider. According to Mishura, hopefully all of the 4,500 of their merchants will be interested in integrating LN in order to reduce the friction on both sides. Meanwhile, CoinGate enables businesses to accept all major cryptocurrencies and many altcoins. The fee at the exchange is 1% and clients can choose from BTC to dollars or Euros as their designated payout.
United States: Presidential Candidate Tulsi Gabbard Bought Crypto At Peak
“There are a lot of challenges that are facing the American people…that I want to help solve.”Gabbard also added that her main concern is to make sure that the US does not continue to intervene in ongoing conflicts in the Middle East. Aside from this, her other priorities include climate change, healthcare and criminal justice reform. According to some reports, Gabbard bought $1,001 to $15,000 of Ethereum and Litecoin in the bull market, when the Bitcoin price soared to a record high of $19,500. It is unclear how much crypto the presidential candidate currently holds though. However, this is still positive news for the crypto market in the United States. According to analysts, a presidential candidate with a strong will for crypto is a good sign to wider adoption. Gabbard is not the only one with such interest, however. The congressmen Darren Soto (Democrat-Florida) and Ted Budd (Republican-North Carolina) in December last year also said that the country must "nurture the profound potential of crypto" in order to stimulate the economy.
BItcoin Cash, Litecoin And Ethereum: The Biggest Losers With Drops Above 10%
Bearish Influence Brings Litecoin Down Despite UFC Partnership
“Over the last 25 years, UFC has evolved from a tiny grassroots movement to a global phenomenon. This is largely based on the extremely passionate community. We see many parallels to Litecoin in this way as our amazing community has been instrumental in our growth and providing unwavering passion and enthusiasm that continues to propel us forward.”Litecoin will have their logo all over the fighting octagon and the team believes that this is a huge milestone for Litecoin. However, despite the partnership, the price of the altcoin was moving upward igniting further selling pressure after the bears managed to put a break on the upward trend. The pattern that Litecoin formatted is extremely vulnerable to breakout but on the downside. The bears managed to break the lower support trend line. This raises the concerns whether the bear market is close to being over since the bearish influence is still present and can be clearly seen the charts.
Join us on Facebook
- Binance Plans To Expand To Eight New Countries But Declines To Confirm Six Of Them
- Deloitte Features Blockchain In Its Annual Tech Trends Report
- Crypto Payments Platform CoinGate Begins Its Lighting Network Trial With Litecoin (LTC)
- The $400bn Tencent And Its Plans To Acquire Two Major Bitcoin Exchanges
- Bitcoin Could Soon Fall To $2,400 And Wall Street Could Buy The Dip
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Ethereum News4 days ago
Coinbase And Kraken Officially Supporting ETH’s Constantinople Hard Fork
Altcoin News4 days ago
Major Swiss Bank Launches A Crypto Custody Solution Targeting Banks & Asset Managers
Bitcoin Scams4 days ago
New Torrent Malware Posing As Movie File Can Replace BTC & ETH Addresses: Researcher
Altcoin News2 days ago
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Bitcoin News4 days ago
American Businessman Still Missing After $950,000 In BTC Ransom Paid
Altcoin News2 days ago
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
Blockchain News4 days ago
The Revenue Agency Of Bulgaria Will Investigate Crypto-Selling Companies
Blockchain News1 day ago
$1 Billion In Transactions Reported For 2018 By BitPay