The entire attention in the latest cryptocurrency news has been focused on Facebook’s Libra project this week, leaving no space for the other altcoins – especially the ones with solid performance. As the market stabilized, Litecoin remains strong and is still one of the year’s top performers.
Over the past 24 hours, Litecoin managed to regain its Monday losses, topping out a new intraday high of just $135 a few hours ago. As the coming altcoin news show, LTC has held on the gains during the Asian trading session this morning and its daily volume increased to $3.7 billion.
While Litecoin remains strong, its market cap sits at $8.37 billion, which is double from what it was at the end of April. The altcoin managed to fall slightly on the week and cool off from its 2019 high of $142 on June 12th. Over the past 30 days, still, Litecoin made a whopping 50% gain.
The next moves for LTC, as many best cryptocurrency news sites note, are a further consolidation. According to one trader with a nickname ‘CryptoFibonacci’ who analyses the daily top cryptos, there are a few key areas of support if a pullback occurs.
“Just sort of consolidating here. 10 ema has held. 125-126 is some key support. If that is broken, it would bring the 115 area into play and possibly 107. Almost looks like a bull pennant on this one too,” he said on Twitter.
The Fibonacci levels have also come into play previously and the mid $120s zone is one for further accumulation and one that may lead up to the halving. With about 47 days to go, Litecoin remains strong and there is a high possibility of running up to the $150 margin in the next few weeks.
A lot of analysts featured on altcoin news sites are even predicting a $160 target for LTC. One of them is @CryptoRand on Twitter, who said that he can’t stop himself from adding more LTC to his wallet.
I can't stop myself from adding more $LTC
My target still: $160 pic.twitter.com/kT3AwVtw84
— Crypto Rand (@crypto_rand) June 18, 2019
Meanwhile, the plastic has been issued by the Litecoin Foundation – serving as an official Litecoin debit card and expanding the use of LTC in the everyday life. There are certainly more big things on the horizon for Litecoin – and its halving is only half of it.
Litecoin (LTC) Value Rebounds As The Halving Event Is Pending
Litecoin Adoption: LTC Adopted On Flexa, Spendable In 39,000 Stores
“I’m excited to see Flexa help push mainstream adoption of Litecoin payments. Being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”Litecoin can now be spent but also converted to fiat via Flexa's SPEDN application which is currently live on Apple's iOS and in testing phase on Android. This comes shortly after the Litecoin Foundation (organization behind the cryptocurrency's development and adoption) joined hands with two industry partners including Bibox Exchange and Ternio, releasing a debit card that can be "loaded" with LTC, Bibox Token and Ternio Token.
Crypto Startup Flexa Adopts Litecoin-Now Available At 39,250 Stores
“I’m excited to see Flexa help push mainstream adoption of Litecoin payments. being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”Litecoin can now be spent and converted to Fiat with the help of Flexa’s SPEDN application which is currently live on Apple iOS. The decision comes shortly after the Litecoin Foundation joined the two crypto industry partners Bibox Exchange and Ternio in order to release a debit card that can be filled with LTC. As noted in the previous latest cryptocurrency news, the Video game streaming service Twitch also started accepting subscription payments via BitPay which gives its viewers a chance to contribute to their favorite gamers with cryptocurrencies. This could be great news for litecoin but for other assets as well regarding the boost in price in the upcoming months.
Litecoin (LTC) Price Goes Up By 13% Reaching $8.18BLN In Market Cap
‘’I’m still waiting for the weekly close but if it does close anywhere above the green box/line I’ll long targeting new highs.”The latest cryptocurrency news reported that the LTC supply reduction could affect the reward that is mainly used by the miners. This could also cause a drop in the Litecoin’s blockchain hashrate since the miners start allocating the computational power to more profitable cryptocurrencies. However, Charlie Lee begs to differ. He believes that the LTC miners would still be profitable despite the rewards reduction:
“If some miners stop mining, block times go up for a while (maybe a week) before difficulty readjusts and makes mining profitable again and miners will come back. Litecoin won’t die.”
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