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Litecoin

Litecoin Price Analysis: LTC/USD is pushing higher to break a technical pattern

  • Litecoin is trading 2.41% higher on Friday and is looking to break out of an intraday technical pattern.
  • Bulls will be looking to target the recent high of 84.50 for the trend to continue higher.

LTC/USD Daily Chart

Litecoin has consolidated between 84.50 and 78.25.

Now the price looks like it will break out of the red trendline on the chart below.

Bulls will be looking to target the high of 84.50 for the trend to continue higher.

On the downside, a break of 78.60  would create a new wave low but the price looks to be moving in the opposite direction.

Litecoin Analysis

Additional Levels

LTC/USD

OVERVIEW
Today last price82.5124
Today Daily Change1.9793
Today Daily Change %2.46
Today daily open80.5331
TRENDS
Daily SMA2069.4305
Daily SMA5057.2634
Daily SMA10053.1756
Daily SMA20061.0626
LEVELS
Previous Daily High84.4232
Previous Daily Low77.2513
Previous Weekly High75.4068
Previous Weekly Low66.6241
Previous Monthly High70.0854
Previous Monthly Low38.7677
Daily Fibonacci 38.2%79.991
Daily Fibonacci 61.8%81.6835
Daily Pivot Point S177.0486
Daily Pivot Point S273.5641
Daily Pivot Point S369.8768
Daily Pivot Point R184.2204
Daily Pivot Point R287.9077
Daily Pivot Point R391.3922

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Litecoin

Litecoin Launching at 13,000 ATMs in South Korea, Foundation Aims for Global Expansion of Cryptocurrency

Litecoin (LTC), the seventh-largest cryptocurrency by market cap, can now be withdrawn in Korean Won (KRW) at over 13,000 ATMs in South Korea. According to the Litecoin Foundation, LTC is going mainstream in South Korea through a partnership with MeconCash. A Bitcoin spinoff, LTC allows people to make peer-to-peer transactions without a central authority.

MeconCash is integrating the cryptocurrency into its M.Pay platform, allowing Litecoin holders to send remittances to Korea from overseas and to access quick cash. Litecoin users will also be able to purchase products on MeconCash’s MeconMall and pay for mobile games that utilize M.Pay for rewards.

The partnership plans to deliver more services in the future. Says Jo Jae Do, chairman of MeconCash,

“Through our partnership with Litecoin Foundation, we will grow the presence of Litecoin throughout the Korean market starting with the ATM withdrawal services. And with Litecoin Foundation as our partner, we are expecting to grow globally and see positive synergies in the upcoming future not only in the Korean market but also in the global market.”

Litecoin creator Charlie Lee continues to focus on large-scale partnerships that can expose Litecoin to a wide audience, collaborating with big brands across a range of industries including mixed martial artsK-popDeFi  and professional sports.

Lee says the new integration into M.Pay’s platform and across a large network of ATMs is a “big step toward expanding Litecoin’s footprint in the South Korean market.” It’s also a push for Litecoin into the country’s remittances industry which moves $6 billion annually.

Adds Alan Austin, director at Litecoin Foundation,

“With billions in remittances sent each year to South Korea, Litecoin – through its speed, security, and low transaction fees – offers significant advantages over traditional methods of sending money overseas through the M.Pay platform.”

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Litecoin

Litecoin Price Analysis: LTC/USD now has to break down a huge barrier at $65

  • Litecoin price is trading in positive territory by 5.50% in the session on Thursday. 
  • LTC/USD is now running towards its fourth potential consecutive session firmly in the red. 
  • A critical trend line of support was breached at around $72, inviting fresh selling. 

LTC/USD daily chart

The price in the last four sessions has dropped a chunky $20 from $80 down to $60. 

LTC/USD 60-minute chart

Bulls managed to break out of a bearish pennant structure, after being set up for a fresh bout of downside pressure. A near-term supply area should be noted at $65.

Spot rate:                64.20

Relative change:    +5.50%

Hgh:                         65.52

Low:                         57.33

LTC/USD

OVERVIEW
Today last price64.3802
Today Daily Change3.8913
Today Daily Change %6.43
Today daily open60.4889
TRENDS
Daily SMA2075.0732
Daily SMA5065.4467
Daily SMA10054.8128
Daily SMA20059.7995
LEVELS
Previous Daily High72.1204
Previous Daily Low57.5184
Previous Weekly High80.6896
Previous Weekly Low66.0609
Previous Monthly High70.0854
Previous Monthly Low38.7677
Daily Fibonacci 38.2%63.0963
Daily Fibonacci 61.8%66.5424
Daily Pivot Point S154.6314
Daily Pivot Point S248.7738
Daily Pivot Point S340.0293
Daily Pivot Point R169.2334
Daily Pivot Point R277.9779
Daily Pivot Point R383.8355

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Litecoin

Litecoin (LTC) Price May Hit $77.50 after Forming Inverse Head and Shoulders

The seventh most valuable cryptocurrency has plummeted after recently reaching $79, but traders remain bullish based on technical analysis.

The Litecoin price has doubled since the start of the year, rising from $40 in early January to $79.54 on February 24, as per data from CoinMarketCap. Litecoin plummeted following the sudden fall of the Bitcoin price from above the $10,000 mark.

LTC CMC

Image via CoinMarketCap

At press-time, the seventh-largest coin is trading at $61.79 on CMC. However, crypto traders believe that the LTC price may reverse soon and hit the $77.50 level after it forms an inverse Head and Shoulders (iHS) pattern.

‘Possible formation of multiple iHS’

Crypto analyst ‘CryptoWolf’ has taken to his Twitter page to share a bullish LTC prediction. He believes that Litecoin may form multiple Inverse Head and Shoulders patterns and hit the $77.50 level. He tweets:“LTC. Bearish target hit @ 62$.

Possible formation of multiple iHS with neckline at 77.50.

Picture from VIP video update released the 16th Feb.”

LTC 1

Image via Twitter

LTC may rise to the $70 area

Crypto trader @TraderSmokey has posted a LTC chart, saying that the coin may rise to the 0.007971 BTC level ($70.29).

“Decent level to buy some spot imo”

LTC 2

Image via Twitter

Charlie Lee accuses DeFi of being centralized

Earlier, Litecoin founder Charlie Lee shared heavy criticism of the Ethereum-based DeFi ecosystem. This occurred after the DeFi lending dApp bZx was hacked and then temporarily shut down along with the Fulcrum for trading on which it was used.

In just a few days, a second hack followed. The culprit’s profit after both hacks totaled around $1.2 mln worth of Ethereum.

Lee stated that DeFi apps can be closed down if a centralized party interferes. Further, he said they can’t be repaired unless DeFi becomes even more centralized.

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