- The Loaf Wallet was built by Charlie Lee himself but it is currently maintained by Litecoin Foundation.
- If the price rises above the breakout, LTC/USD could gain momentum to face the resistance at the 23.6% Fibo.
Selling pressure engulfed Litecoin price when it was trading marginally above $120 after opening the session on Tuesday. The slide accelerated during the Asian trading hours where LTC/USD tested new June lows slightly above $116.
In the meantime, Litecoin founder Charlie via Twitter called upon the community to test the advanced Loaf Wallet for iOS. The official wallet website says that it is simple, secure, and safe and achieves fast transactions among other amazing features. The Loaf Wallet was built by Charlie Lee himself but it is currently maintained by Litecoin Foundation. The tweet by Charlie Lee reads:
“For LoafWallet, we are trying to hit a goal of 250k users in the next 3 months. See something that can be improved? We need more testers! Email: [email protected] and put “Test LoafWallet iOS” in the subject line. Your input will help us improve the app. Thanks!
Technically, the Fib retracements place the breakout at $120 – $121. Litecoin price is trading at $117.8 and there is a weak bullish trend that is testing the short-term resistance at $118.00. If the price rises above the breakout, LTC/USD could gain momentum to face the resistance at the 23.6% Fib retracement level with the previous swing high of $127.78 and a low of $116.13 around $125. On the flipside, there is a weak support at $117.00, but $116.00 will provide more support and stop declines towards the next demand position at $110.
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