Litecoin had its 8th birthday on October 13. The coin’s movements are limited by the boundaries of a tight range. Litecoin is stuck in a depressingly narrow range limited by $58.00 on the upside and $53.00 on the downside. At the time of writing, LTC/USD is changing hands at $56.27, the coin has barely changed both since the beginning of the day and on a day-on-day basis despite mild recovery among other top altcoins. The 6th largest digital asset with the current market value of $3.6 billion bottomed at $50.39 on September 26 and has been moving sideways ever since. Litecoin’s daily trading volume has settled at $2.2 billion. Notably, the coin celebrated its eighth anniversary on October 13. According to the creator of the project, the network handled transactions worth over $500 billion since its inception. «Happy 8th birthday to Litecoin! Litecoin network has been up and running continuously for the past 8 years with zero downtime. And in that span of time, over $500,000,000,000 worth of LTC have been transacted. Looking forward to the next 8 years and more! » he tweeted. LTC/USD, the technical picture Looking technically, LTC/USD attempted to break free from the range and hit $60.12 on October 9. However, the lack of follow-through pushed the price back inside the range. A cluster of strong resistance levels located above the current price includes the above-mentioned upper line of the current channel, the upper line of the Bollinger Band on a daily chart ($58.60), and the long-tern sloping trendline from June 23 high at $59.60. Also, psychological $60.00 followed by the recent recovery high $60.12 may serve as a backstop for the recovery. We will need to see a sustainable move above this area for the upside momentum to gain traction. Once this happens, LTC/USD may aim at the next target of $63.80 (SMA50 (Simple Moving Average on a daily chart). On the downside, the strong support is created by $53.00 with the lower boundary of the above-said channel located at $52.80. Once it is out of the way, the sell-off is likely to gain traction with the next focus on $50.39 (September 26 low) and psychological $50.00. LTC/USD, daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Chinese economy seen expanding 5.9% in 2020 – UOB FX Street 4 years Litecoin had its 8th birthday on October 13. The coin's movements are limited by the boundaries of a tight range. Litecoin is stuck in a depressingly narrow range limited by $58.00 on the upside and $53.00 on the downside. At the time of writing, LTC/USD is changing hands at $56.27, the coin has barely changed both since the beginning of the day and on a day-on-day basis despite mild recovery among other top altcoins. The 6th largest digital asset with the current market value of $3.6 billion bottomed at $50.39 on September 26 and has been moving sideways ever… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
