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Litecoin Partnering the Miami Dolphins Isn’t That big of a Deal

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Before cryptocurrencies can gain mainstream traction, there need to be a lot more regular use cases. So far, choices remain limited on that front. Things seem to be picking up a bit for Litecoin although becoming the “official cryptocurrency” of the Miami Dolphins will probably not have much of an impact on the price whatsoever.

LIMITED FUNCTIONALITY FOR LITECOIN

Although many people expected big things from this particular announcement, it is crucial to put everything in its proper perspective first and foremost. This new partnership does not mean any of the Miami Dolphins team or staff will be paid in Litecoin, nor is anyone asking for it. It also doesn’t mean people can buy game tickets with LTC, as that is not even on the ability at this time. 

Instead, there will be only one particular use case for Litecoin enthusiasts who visit the Hard Rock Stadium. They will be able to purchase tickets for the 50/50 raffle with either Litecoin or Bitcoin. This seems to indicate there is a genuine chance Litecoin won’t be used all that much as it goes up against the world’s leading cryptocurrency. It is expected these tickets will also go on sale online and support both payment methods. 

VERY LIMITED EXPOSURE

Although the Miami Dolphins issued an official statement regarding Litecoin on the website, it is not the sort of news which will get millions of people excited. While the label “official cryptocurrency of an NFL team” is quite interesting to achieve, it seems unlikely that anyone who

isn’t a fan of this team will take much notice of this particular development. 

Combined with the fact Litecoin will face off against Bitcoin in terms of cryptocurrency payments, it seems unlikely that LTC will see any real price action because of this news. it is good to see sports teams continue to pay attention to what goes on outside of traditional finance, but no one should expect miracles either. Cryptocurrency remains a very niche market primarily of interest to speculators and traders, rather than corporations and consumers.

PLENTY OF WORK TO BE DONE

From a Litecoin community point of view, this partnership with the Miami Dolphins can be seen as a massive validation of this entire project. At the same time, the actual purpose of this deal remains rather limited and may not have any notable impact on Litecoin or the cryptocurrency industry as a whole. If the number of payments doesn’t meet expectations, this partnership can be dissolved in very quick succession without recourse.

If the main objective is to get mainstream attention for Litecoin and other cryptocurrencies, these partnerships are not the way to go. In fact, it could make people even more averse of cryptocurrencies in general, primarily because they are already niche, and are only useful for eve more niche products and services. Unless other major sports teams follow this lead by example in the years to come, this will prove to be another one-off deal which will ultimately be forgotten about fairly soon. 

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Litecoin

Litecoin Intraday Price Analysis: Bullish move runs out of steam at technical resistance

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  • Litecoin trades 1.43% higher as crypto sentiment improves today.
  • The price hit a resistance zone at the top of the rising wedge formation.

LTC/USD 10-Min Chart

Litecoin has been moving higher today and broke out of the 44.08 resistance zone.

Now the level has been broken the price has consolidated between 44.52 and 44.13.

A break higher would certainly be good for the bull but the 44.91 resistance lies in wait.

On the downside, the old 44.52 resistance level could become support the but major low is still at 42.84.

Like many of the other major crypto’s be wary as the market is still in a long term downtrend.

LTC/USD

Additional Levels

LTC/USD

OVERVIEW
Today last price44.3394
Today Daily Change0.6495
Today Daily Change %1.49
Today daily open43.6899
TRENDS
Daily SMA2045.8154
Daily SMA5053.1714
Daily SMA10057.8244
Daily SMA20080.5963
LEVELS
Previous Daily High44.0801
Previous Daily Low42.8434
Previous Weekly High48.5063
Previous Weekly Low43.8063
Previous Monthly High66.2492
Previous Monthly Low42.351
Daily Fibonacci 38.2%43.6077
Daily Fibonacci 61.8%43.3158
Daily Pivot Point S142.9955
Daily Pivot Point S242.301
Daily Pivot Point S341.7587
Daily Pivot
Point R1
44.2322
Daily Pivot Point R244.7745
Daily Pivot Point R345.469

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Source: fxstreet

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Litecoin

Litecoin Technical Analysis: LTC/USD closer than ever to a falling wedge breakout

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  • Litecoin is still experiencing the impact of the death cross even as the hunt for a bottom continues.
  • The RSI recovery towards 50 shows that the bulls are ready to regain control and stir some action upwards.

Spot rate: $43.76

Relative change: 0.0755

Percentage change: 0.17%

Trend: Bullish

Volatility: Low

LTC/USD daily chart

Litecoin is grinding closer to a falling wedge pattern breakout most likely to reclaim lost ground heading to $100.

The declines are, however, slowing down as shown by the moving average gap, which has started to narrow.

LTC/USD 4-hour chart

Litecoin price attempts a breakout above the trendline resistance but the immediate upside is capped by the 50 SMA.

Litecoin bulls must reclaim the support at $45 to avoid declines into the $30’ range.

LTC/USD

OVERVIEW
Today last price43.7229
Today Daily Change0.0330
Today Daily Change %0.08
Today daily open43.6899
TRENDS
Daily SMA2045.8154
Daily SMA5053.1714
Daily SMA10057.8244
Daily SMA20080.5963
LEVELS
Previous Daily High44.0801
Previous Daily Low42.8434
Previous Weekly High48.5063
Previous Weekly Low43.8063
Previous Monthly High66.2492
Previous Monthly Low42.351
Daily Fibonacci 38.2%43.6077
Daily Fibonacci 61.8%43.3158
Daily Pivot Point S142.9955
Daily Pivot Point S242.301
Daily Pivot Point S341.7587
Daily Pivot Point R144.2322
Daily Pivot Point R244.7745
Daily Pivot Point R345.469

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Source: fxstreet

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Litecoin (LTC/USD) forecast and analysis on December 13, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 43.27. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.

Litecoin (LTC/USD) forecast and analysis on December 13, 2019

As part of the Litecoin course forecast, a test of level 44.20 is expected. Where should we expect an attempt to continue the fall of LTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 39.20. The conservative sales area for Litecoin is located near the upper border of the Bollinger Bands indicator strip at 45.80.

Litecoin (LTC/USD) forecast and analysis on December 13, 2019

Cancellation of

the option to continue the decline in the rate of Litecoin will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and the closing of quotations of the pair above the area of ​​46.20. This will indicate a change in the current trend in favor of the bullish for LTC/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on December 13, 2019 implies a test level of 44.20. Further, it is expected to continue falling to the area below the level of 39.20. The conservative area for selling Litecoin is located area of 45.80. Canceling the option of falling cryptocurrency will be a breakdown of the level of 46.20. In this case, we can expect continuation growth.

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