LTC/USD Medium-term Trend: Bullish
- Resistance Levels: $66, $68, $70
- Support Levels: $30, $28, $26
Last week, the price of Litecoin was ranging above the $33 price level. On February 8, the bulls broke the EMAs as the price reached a high of $43.81. The bulls continued its bullish movement and reached a high of $47.60. The crypto’s price is retracing as it faced resistance at the $48 price level.
The LTC price is above the EMAs and has the tendency to rise if the price is sustained above the EMAs and the resistance level of $48 is broken. The LTC price is expected to reach a high of $55. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the EMAs which indicate that price is in the bullish trend zone.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in the be trearishnd zone. The crypto’s price reached a high of $44.56 and began fluctuating above the 12-day EMA and 26-day EMA. The LTC price reached a high of $48.10 and was resisted. The bears have broken the EMAs and the crypto’s price is now in the bearish trend zone.
If the crypto’s price remains in the bearish trend zone, the LTC price is likely to fall. On the other hand, if the bulls break the EMAs and reach the bullish trend zone, the bulls will retest the $48 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
LTC Founder Charlie Lee Discloses Investment in BTC Development Firm Casa
On Aug. 16, Litecoin (LTC) founder Charlie Lee disclosed in a tweet that he is “an investor in Casa,” a Bitcoin (BTC) personal key security firm. He also noted that he has high hopes for the company:
“I have the same feeling about Casa today as I had about Coinbase when I joined in 2013 as the 3rd hire. Casa is making Bitcoin easy to use and that is extremely important for this space. Looking forward to great things!”
A notable hire
The tweet was posted in response to Casa announcing the hire of a former engineer and product developer at Microsoft and software firm Tableau, as well as a Seattle Bitcoin Meetup organizer Brian Lockhart. The tweet states:
“We are thrilled that we were finally able to convince him to come out of retirement and play in the big leagues at Casa.”
According to Crunchbase, Casa received $2.1 million in funding so far during its seed round in March 2018.
As Cointelegraph reported in June, Casa Node, one of the industry’s popular pre-synced node products, relied on an inbuilt Raspberry Pi, though earlier iteration of the model caused frustration for some users due to its reported slowness.
In July, Facebook reportedly hired Standard Chartered Bank’s head of public affairs Ed Bowles for its cryptocurrency project.
Litecoin’s Charlie Lee says signing a message with genesis key is the only way to authenticate Nakamoto’s true identity
Over the years, Bitcoin has grabbed the attention of crypto Twitter repeatedly, with BTC always being a trending topic, yet the identity of its founder is surrounded by a cloud of mystery.
Recently, crypto community’s attention was caught by yet another person claiming to be the “real Satoshi Nakamoto”. The news went viral on Twitter after the self-proclaimed individual claimed to hold 980,000 BTC. Since the inception of the king coin, many individuals have made attempts of claiming to be the real Satoshi Nakomoto. At this stage, Satoshi Nakamoto Renaissance Holdings, a blockchain company, stated that the “real” Satoshi would finally break his silence after a decade of anonymity.
As this is NOT the first time someone has come forward and claimed to be Satoshi Nakamoto, many wondered how such “claims” can be proved/disproved.
Litecoin’s Charlie Lee, shared his opinion over Twitter,
“Satoshi Nakamoto brought to the world an open-source, decentralized, trust-less, censorship-resistant currency based on math and cryptography. If Satoshi wanted to reveal himself, he would sign a message with the genesis key. Anything short of that is most likely fraudulent.”
Many enthusiasts backed Charlie Lee’s comment that signing a message with the private key to the genesis block is the sole method of authenticating Nakamoto’s true identity.
Litecoin Founder Charlie Lee Invests in Startup Casa to Make Bitcoin ‘Easy to Use’
Litecoin founder Charlie Lee has revealed on Twitter that he is a supporter and investor in cryptocurrency custody startup Casa.
Charlie Lee is a fan of cryptocurrency custody startup Casa. The founder of Litecoin congratulated Casa on Twitter for hiring a new product lead, after which Lee revealed that he has invested in the startup.
Casa, the cryptocurrency custody startup that aims to maximize safety and security for its crypto users, are supported by Litecoin founder Charlie Lee.
Today, Charlie Lee tweeted about the startup, congratulating the company for hiring a product lead. Furthermore, Lee shared his confidence in the startup. The Litecoin founder compares Casa with the times when he joined Coinbase back in 2013.
The cryptocurrency startup has raised over $3.5 million over the past year. The goal of Casa is to offer a “key manager app in every pocket and a node in every home.”. The Keymaster mobile app is available for iOS and Android.
Last year the company released its first premium product dubbed “Keymaster,” a multi-signature service for bitcoin investors. Soon after, Casa announced its plug-and-play Bitcoin Lightning node, the “Casa Node,” to much fanfare, selling out its initial batch in two hours. Casa has shipped over a thousand Casa Nodes since it was released.