Bitcoin and altcoins are facing selling near key resistance levels, but for now the possibility of a sharp fall remains low.
The Litecoin cryptocurrency is a fork of the Bitcoin codebase that was positioned as “a silver to Bitcoin’s gold.” It was created by former Google and Coinbase engineer Charlie Lee in 2011.
While similar to Bitcoin in terms of tech and monetary policy, even featuring its own periodic halving of its supply schedule, Litecoin features some core changes such as block times that are four times longer and a supply cap that is four times as large compared with BTC.
One key technical difference Litecoin has with Bitcoin is its mining algorithm, Scrypt, which makes it easier for users to generate hashes with commonly available hardware and participate in the mining process.
In June 2017, Charle Lee left his position at Coinbase to commit to Litecoin full time and is currently head of the Litecoin Foundation, which stewards and finances Litecoin ecosystem development.
Bitcoin and a few altcoins have broken above key resistance levels, which suggests that the bulls are attempting to take control of the market.16645
“It’s the first major game that utilizes the Litecoin blockchain for all of its interactions,” said LTC creator Charlie Lee.6072
Bitcoin and several altcoins are trying to break out of their respective overhead resistance levels in order to restore bullish momentum.15655
Although Bitcoin price is range-bound, a few altcoins have started a relief rally which could push them above key resistance levels.17288
If the bulls can find momentum from the current bounce in Bitcoin and altcoins a short-term bottom may be in place.19982
Bitcoin and altcoins could consolidate in a tight range for a few days before making the next decisive move.27541
A dead cat bounce from Bitcoin and altcoins’ critical support levels may attract further selling that could result in lower levels over the next few days.27895
If the bearish patterns on Bitcoin and altcoins complete the current correction could see prices drop to new lows.25265
Satoshi Nakamoto would have approved.34136
Bitcoin and altcoins have bounced off their range lows, but they are likely to encounter resistance at higher levels.32166
Bitcoin and altcoins are holding key support levels, suggesting bulls will try to break above overhead resistance levels soon.24693
Will altcoins rally as Bitcoin price stagnates, and is DeFi producing a bubble? Here’s what’s driving the altcoin season.14313
Bitcoin and altcoins are likely to remain range-bound in the short-term as the bulls and the bears attempt to assert their dominance.34170
The bulls are aggressively defending the 20-day EMA in Bitcoin and select altcoins, which could result in the resumption of the uptrend.28773