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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Litecoin (LTC) Bulls Have the Upper Hand, Sights at $70

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis litecoin LTC

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Created by industry experts and meticulously reviewed
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Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Litecoin prices stable and bullish
  • QuadrigaCX founder had the best interests in mind and cared for his customers
  • Transaction volumes low but revival depends on LTC demand

Cotten’s window now says his husband had the best intentions and interest for QuadrigaCX users as the search of $190 million worth of Bitcoins and other assets continue. At spot rates, Litecoin is bullish, and trading above $50 meaning buyers have a chance in days ahead.

Litecoin Price Analysis

Fundamentals

$190 is not pocket change, and it gets worse because few are buying the death story. The owner bearing the private keys of the exchange’s cold wallet(s) may, after all, be alive and kicking.

That he may have faked his death, bribed officials and disappeared in India is a stab and further deepens the complexity behind the QuadrigaCX case. Forced to bear losses are ordinary investors and traders who tried to play the market or DCA in a bid to dodge dropping asset prices.

For the unaffected, the sharp twists and turns, the eye-popping coincidences and the fact that big money was involved make this looks like a sad ending thriller. With Cotten dead or gone, everyone is looking at Jennifer Robertson, who is, unsurprisingly standing by the actions of her husband. In a statement through her lawyers Stewart McKelvey, she defended her husband saying Cotten had the best interests of the business in mind and cared for his customers.

“While I had no direct knowledge of how Gerry operated the business, he told me that he had been putting his own money back into QCX to fund user withdrawals in 2018 while the CIBC money remained frozen. I believe Gerry had the best interests of the business in mind and cared for his customers.”

Candlestick Arrangements

Litecoin

As it is, Litecoin is trading within a bullish breakout pattern, and buyers are clearly in control. Because of this and as mentioned in previous Litecoin trade plans, every low is technically a buying opportunity with targets at $70. Proper stops should be at Mar 5 lows of $45. Drops below $45 invalidate this stand.

Technical Indicators

It is likely that Litecoin prices will correct lower to compensate for the over-extension of Mar 7. Even so, every dip is an opportunity, and we need confirmation of Mar 5 bulls. The confirming bar should have high volumes exceeding 214k—current averages and those of Mar 7—426k, further invalidating bears of late Nov 2018.

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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