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Litecoin Working on a Solid Plan, Will be Introducing New LTC Improvement Proposal (LIP)

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Since late January, this year, Litecoin team has been working on adding additional features in the form of fungibility and confidential transactions on Litecoin Network as announced by the Litecoin creator Charlie Lee.

Lee again took to Twitter to share the latest developments in this area while explaining about the Mimblewimble implementation.

The team is actually working on a “solid plan” and would further bring forward Litecoin Improvement proposals (LIP) for the community to discuss and critique.We still have a lot of work ahead of us. Need to make sure the tech is solid and come up with a plan to test everything and safely upgrade the Litecoin network. When we have a solid plan, we will write up a Litecoin Improvement Proposal (LIP) for the community to critique.

Lee further clarified why they aren’t just making the block bigger as questioned by one Litecoin enthusiast,“Bigger blocks doesn’t solve fungibility.”

Litecoin Price Enjoying The Hype

Recently, Litecoin collaborated with the software development firm Beam to explore the implementation of new protocol Mimblewimble to improve the privacy and scalability of Litecoin.

This tongue-tied curse from the popular Harry Potter series is a part of the confidential transactions that allow the translations to be obfuscated but still verifiable. All the work on this new protocol that will be used along with “Extension Blocks” will be published under an open source license.

Following to the confidential transactions being in the works along with this collaboration, Litecoin jumped more than 30 percent. At the time of writing, Litecoin has been trading at $44.80 with 24-hours gains of 3.24 percent. In the BTC market, it is in green by 3 percent. With a market cap of $2.7 billion, Litecoin has become the 4th largest cryptocurrency, according to the Coinmarketcap data.

Litecoin 7-days price chart, Source: Coinmarketcap

There has been a dramatic increase in the price and volume of the Litecoin that spurred the price rise in the broad cryptocurrency market.

There has been much hype around Litecoin halving as well that is just 177 days away. Typically, Bitcoin halving garners all the attention, rightfully so, as experts have predicted that the next major bull run will be triggered by the 2020 halving. Akin to that, Litecoin price is expected to reach new highs as well, as it’s halving event comes closer.

Source.bitcoinexchangeguide

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Litecoin

Litecoin (LTC/USD) weekly forecast on February 18 — 24, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 43.25. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Litecoin (LTC/USD) weekly forecast on February 18 — 24, 2019

As part of the Litecoin course forecast, a test level of 38.50 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 52.50. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator bars at 27.50.

Litecoin (LTC/USD) weekly forecast on February 18 — 24, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be the breakdown of the lower limit of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotes pair below the area of ​​23.50. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) weekly forecast on February 18 — 24, 2019 implies a test level of 38.50. Further growth is expected to continue to the area above the level of 52.50. The conservative area for buying Litecoin is located area of 27.50. The cancellation of the cryptocurrency growth option will be a breakdown of the level of 23.50. In this case, we should expect the continuation of the fall.

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Litecoin forecast and analysis LTC/USD for 2019

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Litecoin LTC/USD traded at 41.99 and continue to move in the ascending channel. At the moment, we should expect an attempt to drop and test the support level near the 10.00 area. Where can we again expect a rebound and continued growth of the Litecoin rate with the goal above the level of 400.00.

Litecoin forecast and analysis LTC/USD for 2019

In support of the growth of LTC/USD quotes, a test of the support area on the relative strength index (RSI) will come out. As well as a rebound from the lower boundary of the rising channel. Cancellation of the growth rate of the Litecoin course in 2019 will be the fall and the breakdown of the 7.50 area. This will indicate a breakdown of support and the continuation of the fall of the cryptocurrency rate. With the breakdown of the resistance area and the closure of quotations above 75.00, we should expect confirmation of the development of the upward trend in Litecoin.

Litecoin forecast and analysis LTC/USD for 2019

Litecoin forecast and analysis LTC/USD for 2019 implies an attempt to test the support area near the 10.00 level. Where can we expect a rebound and continued growth of LTC/USD in the region above the level of 400.00. An additional signal in favor of growth of Litecoin is a test of the trend line on the relative strength index (RSI). Cancellation option lift will fall and the breakdown of the 7.50 area. This will indicate a continued decline in cryptocurrency.

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Litecoin (LTC/USD) forecast and analysis on February 17, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 43.10. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Litecoin (LTC/USD) forecast and analysis on February 17, 2019

As part of the Litecoin course forecast, a test of 41.80 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 47.80. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator bars at 40.00.

Litecoin (LTC/USD) forecast and analysis on February 17, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be the breakdown of the lower limit of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotes pair below the area of ​​38.50. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the cryptocurrency decline.

Litecoin (LTC/USD) forecast and analysis on February 17, 2019implies a test level of 41.80. Further, growth is expected to continue to the region above the level of 47.80. The conservative area for buying Litecoin is located area of 40.00. The cancellation of the cryptocurrency growth option will be a breakdown of the level of 38.50. In this case, we should expect the continuation of the fall.

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