LITECOIN Finding New Support At $82.50
Litecoin is looking to temporarily be finding support at the $82.50 level. We are unsure how this will correlate with the other prices of cryptos. We seem to be finding some sideways trading a bit as Bitcoin and Ethereum consolidation occurs on the longer term trends.
Litecoin is also in the midst of its third bearish day. This does seem to confirm that we will be seeing further downside and pullback, unless we can see a bullish break with Ethereum and Bitcoin.
Overall volumes are minimal so consolidation is still likely. We're hoping these support levels hold up and that the bigger cryptos find the bears showing up for a nice break to the upside.
Thanks for posting this update, solid information
What do you think Litecoin offers that Bitcoin or another general use crypto currency doesn’t? There seems to be so many coins that seem functionally identical to Bitcoin what makes Litecoin different?
Two major things for now. 1) transaction speeds and 2) fees. Bitcoin is the fundamentally worse crypto and long term it will fail.
Oh for sure. Do you think Litecoin is the best replacement or is there another more viable crypto currency for general use?
My personal opinion is that any crypto that only has the use case of financial value transfer will fail. Cryptos like ethereum and steem will be the most succesful since they are multi purpose.
I think you’re right. If you associate a token with a tangible product then you can foster adoption with a tool that people can more readily understand.