Blogs
The rise of Litecoin (LTC) could be quicker than everyone expects
Following Litecoin (LTC) progress in the cryptocurrency market, it seems the digital coin is on the long-term rise recording upward value trajectory for the past few days showing no sign of stopping. That is the main reason why many investors and traders are looking into the virtual currency to try and predict its prices before this year ends.
Before we continue, it is imperative to understand that Litecoin (LTC) is far more similar to Ethereum and Bitcoin than one could expect. Only by understanding their shared attributes and features is when you will be able to predict its value and price easily (and close-to-perfect).
At present, although facing a lot of resistance at the 77 US dollar level, Litecoin is on its way up with signs of fetching higher prices against Bitcoin (BTC) and the US dollar. The virtual currency is facing a lot of resistance at the 77 US dollar mark.
Currently, Litecoin (LTC) is exchanging at 74.9 US dollars after a price appreciation of 1.09% over the past 24-hours. In regards to its market capitalization, Litecoin boosts of an impressive $4.32 billion worth of market cap with a trading volume of over 271.6 million over the past one day.
Litecoin (LTC) Price Analysis and Movement
Although taking the market by storm with plenty of good news, Litecoin (LTC) has had several price declines recorded beneath the 77 US dollar level against the US dollar.
Litecoin (LTC) depreciated beneath the 75 US dollar support level and further declined to a new significant support level of 72.50 US dollar level. From the graph of the virtual currency, the price of Litecoin (LTC) found offers close to the 72.5 US dollar mark and began correcting higher.
Despite the adverse movements, the virtual currency managed to surge over the resistance level of 74.5 US dollars breaking the 50% Fibo retracement level of the prior swing from a high of 78 US dollars to a low price of 72 US dollars. Litecoin (LTC) also exchanged over the 76 US dollar level and the 100-hourly SMA.
Notwithstanding, Litecoin (LTC) faced opposition at the 77 US dollar level and the 76.4% Fibo retracement mark of the former swing from the high and low of 78 US dollars and 72 US dollars respectively. Also, with a resistance level of 77 US dollars, it seems the formation of a critical bearish trendline might be on the offing.
If Litecoin (LTC) manages to break below its immediate support level of 74.5 US dollars, the price valuation of the virtual currency is likely to test the support area of 72.50 US dollars.
On the other hand, if Litecoin (LTC) manages to break the resistance level at 77 US dollars, it could open doors for more good news and gains towards the much awaited 100 US dollar price level and beyond.
Virtual currencies could benefit a lot from dosages of positive reviews and comments in sustaining their rallies from the previous month. A lack of positive news and reviews risk another cryptocurrency downfall that might lead to huge loses all over the place. Cryptocurrencies such as Litecoin (LTC) should strive to continue maintaining their green performances by giving cryptocurrency community members reasons to invest and trade their virtual assets.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Maxpixel.net
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
-
Blogs6 years agoBitcoin Cash (BCH) and Ripple (XRP) Headed to Expansion with Revolut
-
Blogs6 years agoAnother Bank Joins Ripple! The first ever bank in Oman to be a part of RippleNet
-
Blogs6 years agoStandard Chartered Plans on Extending the Use of Ripple (XRP) Network
-
Blogs6 years agoElectroneum (ETN) New Mining App Set For Mass Adoption
-
Don't Miss6 years agoRipple’s five new partnerships are mouthwatering
-
Blogs6 years agoEthereum Classic (ETC) Is Aiming To Align With Ethereum (ETH)
-
Blogs6 years agoCryptocurrency is paving new avenues for content creators to explore
-
Blogs6 years agoLitecoin (LTC) Becomes Compatible with Blocknet while Getting Listed on Gemini Exchange
