Litecoin payment news: Is Litecoin price tide turning? Why is LTC rising today?
Litecoin arises from a turgid week of crypto-trading as a winner, finding itself a 3.56 percent shove this morning.
Trading is currently at $124.22 as of writing, marking a bullish incline over recent charts.
In the daily chart, the price of Litecoin is in the range-bound campaign. Prices fell from $117 to its low at $110 and rose again to $116 in front of commencing its range bound movement.
The RSI period 14 is level 46 which needs that the price is in the range-bound zone.
LTC is likely to consolidate at $120 previously its eventual breakout in favor of the bulls.
Why is Litecoin prospering?
Many a crypto-coin before Litecoin has entered battle with the touch ons, and many will follow.
Last week, the bears took a chunk out of the crypto-market, cutting off various than $10 billion in market value across the first neighbourhood.
Yet the tide of battle appears to be turning as the plucky token beats recalcitrance.
Despite early-investor concerns, Litecoin has emerged as one of the best performing frames in the market, beating the best of the rest.
Why is Litecoin booming today?
What is the appraisal of Litecoin today?
Litecoin has rocketed in popularity due to its speedy transaction operation.
Faster transactions make cheaper transactions, and investors have companied to pick up the coin.
The average LTC transaction cost is a mere $0.19, practically nine times cheaper than Crpyto-behemoth bitcoin.
The process removes less than two minutes, bitcoin takes more than four many times that time to log your transaction.
No surprise then, that investors same the speed.
Litecoin isn’t without its pitfalls, however.
The coin was rocked end week with the news that new transaction software, LitePay, was to everlastingly all trading almost six days after its official launch.
There has also been a lot of talk helter-skelter Litecoin being adopted for the darknet following the recent questions nearby the legitimacy of the privacy-focused Monero.
The tale goes ever-on, and it is difficult to see where Litecoin pleasure progress. But, as the fable tells us, the turtle beats the hare, and, despite Litecoin’s promote, it has slowly been gaining ground on the big players.