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Litecoin News Today – Top Headline For LTC

  • The Litecoin Foundation is running out of Funds, Is Litecoin Nearing its End? 
  • $137,000 Was invested in Employees and $36,000 in Marketing

It appears the Litecoin Foundation is having some issues. Recent events have drained the network and it is understood that there is hardly any money left for the foundation. Per the report, the income of the Litecoin Foundation fell by a Million USD in the last year.

What Led to the Crisis?

The deduction of a Million USD was as a result of the $830,000 donation. While the revenue gotten from good’s sale generated about $200.000. However, what remains unclear in the whole debacle is the revenue received from T-Shirt sales (with the “Hodl”-print and sales for the “Litecoin Summit”).

80,000 LTC Loss

For this year alone, the foundation recorded a series of loses in merchandising strangely enough. The $80,000 loss which is equivalent to $280,000 in revenue and the other loss of $200,000 seems high. How you can a network lose money through T-Shirt sales? This may seem farfetched. However, it could also be as a result of the conference, which is expected to begin in a few days. 

Speaking about the length of the remaining assets of the foundation would go Charlie Lee, the founder of Litecoin-founder said:

“We have done a quick estimate. Our current duration lies between 1 to 2 years. Of course this will depend on how the expenses for the Litecoin-look summit will be.”

He added that:

“Today we still have about $200,000, which can offer us about two years of life.”

$137,000 Was invested in Employees and $36,000 in Marketing

The actual figures given by the network show that the foundation invested $137,000 in   employees and $36,000 in Marketing. Another $24.500 went for lawyer fees. While $4,500 was spent on advertising. These figures are indeed questionable, hence, it is surprising to expect $200,000 to be their lifeline for two years.

Per a previous report, it is understood that in the past year alone, the Litecoin Foundation has acquired about 10% of the way to the Bank. They also hold the option to buy additional 80%. 

The Foundation has only set aside $1,500 for Software issues and Cloud Services which could be the actual of the cost of the platform, excluding the cost development which was not even mentioned.

This may be because no trading takes place. Yes. Because LTC founder, Charlie Lee has sold of his Litecoin-stock during the bull market of December 2017.

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Litecoin Price Analysis: LTC/USD falls below SMA 20 following Wednesday’s bloodbath

  • LTC/USD dropped from $77.38 to $70.72 this Wednesday.
  • In the process, LTC/USD fell below the downward channel formation as well.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD fell from $77.40 to $70.72 this Wednesday as the bears took full control of the market. The buyers were able to bring back the price up to $71.15 in the early hours of Thursday. Following this Wednesday’s bloodbath, the price dropped below the SMA 20 curve and the downward channel formation. However, despite such massive bearish action, the SMA 50 managed to cross over the SMA 200, which is traditionally a bullish sign.

On the downside, the MACD indicates increasing bearish momentum, while the Elliott Oscillator has had six straight red sessions wherein it plummetted from 14 to 5.85. The RSI indicator is sitting flat on the neutral territory, indicating that the sellers have effectively canceled out the positive jumps made by the buyers before this  Wednesday.

  • LTC/USD dropped from $77.38 to $70.72 this Wednesday.
  • In the process, LTC/USD fell below the downward channel formation as well.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD fell from $77.40 to $70.72 this Wednesday as the bears took full control of the market. The buyers were able to bring back the price up to $71.15 in the early hours of Thursday. Following this Wednesday’s bloodbath, the price dropped below the SMA 20 curve and the downward channel formation. However, despite such massive bearish action, the SMA 50 managed to cross over the SMA 200, which is traditionally a bullish sign.

On the downside, the MACD indicates increasing bearish momentum, while the Elliott Oscillator has had six straight red sessions wherein it plummetted from 14 to 5.85. The RSI indicator is sitting flat on the neutral territory, indicating that the sellers have effectively canceled out the positive jumps made by the buyers before this  Wednesday.
 

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Litecoin News Today – Onramp Unlocks Direct Litecoin Purchases for Mobile Apps

  • Onramps unlock direct Litecoin purchases for mobile
  • Litecoin LTC price poised to rise despite a brief drop
  • Litecoin LTC price heading to $85 after it breaks the $78 barrier

Litecoin news today – According to the latest Litecoin reports, Celsius Network members now have a new solution to purchase with crypto directly on their mobile devices. They can now purchase LTC, BTC, and Ether, among a host of cryptocurrencies with their credit cards on the Celsius’s mobile app. The interest income platform entered a partnership with leading crypto payment processing company Simplex to offer consumers a way to make Bitcoin, Litecoin and Ethereum purchases as well as other cryptos using their credit or debit cards directly on the Celsius app. Users are to pay a fee of 3.5% for the service.

Celsius Network Now Supports BTC, Dash, LTC, Zcash, BCH, ETH, and XRP

Litecoin News Today – The cryptos that are currently supported by the Celsius Network include BTC, ETH, LTC, XRP, BCH, Dash and ZCash. The integration lets users save 50% on credit card transaction rates. It also offers another Onramp for cryptocurrency buyers. The Celsius Network joins major exchanges like Binance by using Simplex to connect investors’ credit cards to their BTC and crypto portals. The Simplex protocol which was founded in 2014, has become a key player in allowing crypto merchants to introduce credit card buying to mainstream consumers around the world.

Litecoin LTC Price Prediction in the last 24-hours

After managing to surge past its 6 month high of $83, the price of Litecoin felt bearish pressure which saw it succumbed to an unexpected 19.65% drop to the downside. However, the number 6 largest digital currency by market cap bounced back before its daily candle close. By doing this it avoided a confirmed break downwards in its price.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
Litecoin$77.793.07%

The LTC price has managed to close two daily candles consecutively above the $72 support. This support position will be important if the ongoing rally will see any form of continuation in the coming weeks. If the price of Litecoin can continue to make the $72 mark as a platform, then it will likely swing back to the $78 resistance area. The breakout above the $78 mark will see the LTC price target the $85 before it moves to future barriers like $90 and $100. Both barriers acted as resistances in the 2019 rally. It is important to note that the Litecoin price experienced a golden cross via the daily chart 6 days ago and a re-test of this cross is common before we can see any major move come to fruition. The upcoming price action for LTC will mainly depend on the direction that Bitcoin will take as we approach May’s halving event.

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Litecoin Price Analysis: LTC/USD has broken out of an intraday chart pattern

  • Litecoin trades 2.33% higher on Tuesday as cryptocurrency sentiment improves.
  • This move could price the pullback over the last few days was just a blip.

LTC/USD 1-Hour Chart

Litecoin is breaking higher today like much of the other cryptos on Tuesday.

The sell-side volume is still much larger so we would need a pick up to ensure the market is behind this move.

At the moment 70.00 seems to be a good area of support for LTC/USD and a break of the 77.30 resistance would be a good sign for the bulls.

On the daily chart, the shadows (wicks) at the bottom of the candles indicate the buyers are stepping back in.

The level that needs to be taken out on the higher timeframe is 84.50.

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Additional Levels

LTC/USD

OVERVIEW
Today last price75.5522
Today Daily Change2.1365
Today Daily Change %2.91
Today daily open73.4157
TRENDS
Daily SMA2073.4086
Daily SMA5060.0875
Daily SMA10053.7531
Daily SMA20060.786
LEVELS
Previous Daily High75.4404
Previous Daily Low68.69
Previous Weekly High84.4232
Previous Weekly Low72.4372
Previous Monthly High70.0854
Previous Monthly Low38.7677
Daily Fibonacci 38.2%71.2686
Daily Fibonacci 61.8%72.8617
Daily Pivot Point S169.5903
Daily Pivot Point S265.765
Daily Pivot Point S362.84
Daily Pivot Point R176.3407
Daily Pivot Point R279.2657
Daily Pivot Point R383.091

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