Litecoin has been and continues to be in a stronger technical position relative to the other cryptos. As you can see in the chart below it is above both the long-term downtrend line and the 200-day moving average (brown line). It broke out above the downtrend line in mid-February and has since pulled back, in a relatively controlled low volatility manner, to test the line as support during the most recent pullback, low of $137.12. Support was strong though as it kicked in above the line at the 200-day MA. Note that support was also seen around the 200-day MA at the bottoms in February. This is all bullish price behavior that should lead to higher prices.
A breakout above the one-month downtrend line will trigger a new bullish signal, and the LTC/USD pair could then accelerate its advance. First, watch for a breakout to trigger on a move above $165.50. Strength is then confirmed on an enthusiastic rally above $175.50.
The Most Common Cryptocurrency Mining Algorithms are as follows:-
SHA stand for “Secure hash Algorithm” (SHA-256) generates unique 256-bit (32-byte) signature for a text string. Block processing time for SHA-256 generally ranges from six to ten minutes and requires hash rates at the Giga hashes per second (GH/s). SHA-256 hash rate is measured by GH/s: Gigahashes per second, or one billion hash computations per second. SHA-256 algorithm mining can be performed on an ASIC hardware (application-specific integrated circuit) Continue reading Different Types Of Cryptocurrency Algorithms
A version of bitcoin’s much-anticipated Lightning Network is finally ready for real users. Announced today, California startup Lightning Labs has officially launched a beta version of its software (LND), making available what investors and project leads say is the first thoroughly tested version of the tech to date. This means that users can now leverage LND to send bitcoin and litecoin to other users, all without settling those transactions on the blockchain. Continue reading Lightning Labs Launches Beta With Twitter CEO Backing
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The Litecoin price posted a lonely decline on Tuesday after LitePay’s much-anticipated debit card launch was scrubbed at the last minute and delayed indefinitely. The cryptocurrency markets continued to shake off their weekend slump on Tuesday, and most large-cap cryptocurrencies posted strong returns against the US dollar. But while the cryptocurrency market index rose by seven percent, Litecoin became the lone top 15-cryptocurrency to post a single-day decline. At present, the Litecoin price is $217 on cryptocurrency exchange Bitfinex, which represents a single-day decline of four percent and translates into a $12.1 billion market cap.The largest slice of Litecoin trading volume is concentrated on OKEx, which accounts for more than 31 percent of all LTC volume. Notably, KRW pairs — which often spur on altcoin rallies — currently comprise a relatively small amount of Litecoin trading.