News

Litecoin Price Supported by News on Private Transactions

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The Litecoin reached its high since Nov 14 2018 through the heavy rise last week. Currently, the crypto is trading at around $43.

On H4, the price made an upmove after a long downtrend and then a convergence. The coin approached 76% Fibo, while the uptrend stopped near the upper channel boundary, which means a reversal may be near. The new short term move may still make a new high reaching 76% Fibo, or $48.12. The support is meanwhile at $35.27.

On H1, the latest uptrend ended with a divergence, and the crypto is now correcting, falling to 50% and 61.80% Fibo, or $39.41 and $37.62, respectively. The overall trend is still ascending, and the Stochastic is moving to the oversold territory, which means a new uptrend and new highs are ahead.

Related Post

In the most in-demand crypto rating, the LTC rose to the 4th place, and, fundamentally, this may be very easily explained. The Litecoin

partnered with MimbleWimble, which may drastically increase the privacy level in the network.

The thing is that Litecoin Foundation starts working with Beam devs in order to implement MimbleWimble protocol, which will allow them to increase the security and privacy level.

The LTC and MimbleWimble transactions are now being tested, and once the token conversion process is fully functional, it will also become available for the regular LTC users. This will make all transactions 100% private and secure. The devs are ready to share all the info regarding this project. Later, more cryptos may well go this way, too.


Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Guest

The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect The Merkle's view.

Share
Published by
Guest

Recent Posts

Solana’s $3.2M Entrepreneur Story & BlockDAG’s $1 Potential

How Solana Transformed an Entrepreneur’s Life & Why BlockDAG Could Be the Next Millionaire Maker…

19 mins ago

SOL Market Cap Hits $100 Billion as Possible Infinaeon Long-Term Price Targets Surge

The SOL price has surged to well over $200 as its market capitalization exceeded $100…

5 hours ago

Binance Coin Whales Reap Big Profits as Polkadot Struggles; A New Crypto Presale Is Dominating Investor Attention

BNB is already flashing signs of a bearish sentiment despite launching a new stablecoin while…

8 hours ago

Three Crypto That Surprised The Market: Rollblock, Cardano, and XRP

The crypto market is no stranger to unexpected twists. However, the recent performances of Rollblock,…

8 hours ago

As Bonk (BONK) and Pepe (PEPE) Shine, Rollblock (RBLK) Captures the Market’s Attention With Upcoming Reveal

Meme coins are back with a bang and are as insanely volatile as ever! Bonk…

8 hours ago

2024’s Top 9 Crypto Staking Platforms to Make Passive Income

Staking has become one of the most effortless ways to generate passive income in the…

11 hours ago