Litecoin Price Defies Gravity as Buyers Eye $100

2022-11-29 15:33

Litecoin has rallied by about 60% from its lowest point this month.

Its hashrate is hovering near its all-time high.

LTC has lost its close correlation with Bitcoin.

Litecoin price has done well in the past few days as its divergence from Bitcoin continues. LTC was trading at $76.85 on Tuesday, which was about 60% above the lowest level this month. It is also hovering near its highest level in May, giving it a market cap of over $5.4 billion.

LTC hashrate steady

Litecoin is one of the oldest cryptocurrencies that emerged from a fork of Bitcoin. It is a proof-of-work cryptocurrency that was created to solve some of the biggest Bitcoin’s challenges. For example, it has faster speeds and significantly lower costs than Bitcoin.

Litecoin’s mining costs are also much lower than those of Bitcoin. However, because of its volatility, it has not been used widely as a payment option. Based on its hashrate, Litecoin is not as safe as Bitcoin.

It is unclear why LTC price has done well in the past few months even as other coins remained on edge. A likely reason is that activity in its ecosystem has done well in the past few days. 

For example, Litecoin’s hashrate is hovering near its all-time high of near 600 TH/s. After falling to 527 TH/s, the coin’s hashrate has risen to 568. Hashrate is an important figure in proof-of-work cryptocurrencies because it is a measure of a network’s security. 

Similarly, Litecoin’s mining difficulty has been in a strong upward trend in the past few months. It currently stands at 19.24 million, which is a few points below its all-time high of 20 million. 

Litecoin Google searches

Another possible reason why Litecoin price is rising is Fear of Missing Out (FOMO). This happens when investors rush to buy a coin that is in a bullish trajectory. Indeed, data by Google shows that the number of search queries on Litecoin has been in an upward trend and is now at the highest level since June this year.

Litecoin has also lost its close correlation with Bitcoin. While its price has popped, Bitcoin remains on the verge of a bearish breakout.

Litecoin price forecast

                LTC chart by TradingView

Is it safe to buy Litecoin? LTC price has been in a bullish trend in the past few days. It has managed to move above the important resistance level at $67.56, the highest level on September 13. It also rose above $73.13, which was the highest point on November 7. 

Litecoin’s rally is being supported by the short and long-term moving averages while the Relative Strength Index (RSI) has moved above close to the overbought level. Therefore, the coin will likely continue rising as buyers target the key resistance at $100.

How to buy Litecoin

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy LTC with eToro today Disclaimer

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy LTC with Coinbase today Disclaimer

The post Litecoin Price Defies Gravity as Buyers Eye $100 appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Litecoin (LTC) на Currencies.ru

$ 66.86 (-0.20%)
Объем 24H $266.614m
Изменеия 24h: 0.37 %, 7d: -7.52 %
Cегодня L: $64.67 - H: $67.18
Капитализация $5.025b Rank 20
Цена в час новости $ 76.76 (-12.9%)

litecoin bitcoin price correlation close lost ltc

Источник: coinjournal.net

litecoin bitcoin → Результатов: 126


Цена Litecoin может вырасти на 700% по сравнению с Bitcoin

До халвинга Litecoin в два раза осталось всего три месяца, и цена LTC имеет все шансы на значительный рост, утверждает основатель компании. Litecoin может добиться больших успехов по сравнению с Bitcoin особенно по мере приближения августовского события по сокращению вдвое, считает создатель Litecoin Чарли Ли.

2023-5-4 16:35


Крупнейшая сеть кинотеатров AMC добавит поддержку Ethereum, Litecoin и Bitcoin Cash

Американская сеть кинотеатров AMC Theatres до конца 2021 года в качестве способа оплаты билетов, помимо биткоина, также внедрит Ethereum, Litecoin и Bitcoin Cash. Об этом сообщил CEO компании Адам Арон.

2021-9-17 13:35


Litecoin Market Analysis: LTC Prices Calm 10 Days Before Another Historic Halving

Today’s Litecoin (LTC) News The link between Litecoin and Bitcoin is more than their shared objectives. Charlie Lee is adamant that Litecoin will always complement Bitcoin. While that is true, because the coin is still based on the proof-of-work consensus algorithm with minor tweaks on block generation times, there are other critical differences. Bitcoin is […]

2019-7-26 16:51


Litecoin Will Fly If It Makes The Most Of Social Media

The pursuit for cryptocurrency adoption seems to focus on three major cryptocurrencies, Bitcoin, Bitcoin Cash and Litecoin. Indeed, this isn’t to disregard the likes of XRP and Stellar, both of which also provide a solid use in mainstream society, however in terms of worldwide societal adoption, Bitcoin, Bitcoin Cash and Litecoin tend to be the go-to currencies.

2018-10-10 16:30


Фото:

Litecoin’s Charlie Lee: Buy At Least 1 Bitcoin… Before Litecoin

Litecoin (LTC) creator Charlie Lee has advised cryptocurrency investors to buy Bitcoin (BTC) before any other asset – including Litecoin. Bitcoin First, ‘Shitcoins’ Later In a tweet dated July 17, Lee, who continues to pour time into Litecoin development and partnerships despite selling his own holdings earlier this year, appeared to refer to his creation as a “shitcoin.

2018-7-18 23:00


Хедж-фонд Multicoin Capital делает упор на EOS и Ethereum

Крупный криртовалютный хедж-фонд Multicoin Capital, среди спонсоров которого Марк Андриссен, Крис Диксон, Union Square Ventures и другие венчурные капиталисты, делает упор на Ethereum и EOS, а перспективы Litecoin и XRP им кажутся сомнительными.

2018-7-1 10:51


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Litecoin price prediction - Buyers, is it time to wait for a breakout?

Litecoin, at press time, was at a critical point, facing immediate resistance at $72 and support levels around the 20-day and 50-day EMAs Traders should watch for a patterned breakout to gauge The post Litecoin price prediction - Buyers, is it time to wait for a breakout? appeared first on AMBCrypto.

Litecoin rises as digital asset inflows hit $901 million

Litecoin (LTC) is among altcoins to record slight gains on Monday as Bitcoin (BTC) price spiked above $68k again. This comes as cryptocurrency investment products recorded another mega inflows week, despite BTC struggling as bears rejected the advance above $69k.

Litecoin set for recovery? LTC's $36B on-chain activity suggests...

LTC has declined by 3.74% over the past week. Despite the decline, Litecoin's on chain activity surges with 512.8 million moving on-chain. After a sustained decline, Litecoin [LTC] saw a brThe post Litecoin set for recovery? LTC's $36B on-chain activity suggests... appeared first on AMBCrypto.

Litecoin (LTC) founder is optimistic about spot ETF approval

Litecoin received a major boost last week when asset management platform Canary Capital filed for the listing of a spot Litecoin exchange-traded fund. Now Litecoin founder Charlie Lee says he believes the US Securities and Exchange Commission will give a greenlight for the spot Litecoin ETF.

Is Litecoin's price revival underway? Social engagement could be key!

Litecoin concluded a bullish week aided by a resurgence in social engagement Whales have been contributing to the rally, but the cryptocurrency might see a pullback soon It has been an interThe post Is Litecoin's price revival underway? Social engagement could be key! appeared first on AMBCrypto.

Litecoin price prediction - Here's what a move to $82 and beyond depends on

Bullish momentum and buying pressure suggested that Litecoin is likely to climb towards $74 and beyond A move beyond $82 would suggest that a long-term uptrend is possible Litecoin [LTC] traThe post Litecoin price prediction - Here's what a move to $82 and beyond depends on appeared first on AMBCrypto.

Litecoin ETF next? Canary Capital makes a move, LTC surges

Canary Capital files for Litecoin ETF. LTC surges 6.3% post-filing. Institutional demand for cryptocurrency exchange-traded funds [ETFs] has grown exponentially, and Canary Capital has positThe post Litecoin ETF next? Canary Capital makes a move, LTC surges appeared first on AMBCrypto.