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

Litecoin Up 28 Percent, LTC Lightning Network Capacity Up 76 Percent, What Can Stop $70?

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

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  • Litecoin prices surge, up 27.8 percent in last week
  • Lightning Network capacity up 76 percent
  • Participation levels up, averages increase from 954k in mid-Nov to 1.5 million by last week’s close

Pumping Litecoin is renewed interest and technical factors. Now that LTC prices are trading above $50 in a bull breakout pattern, Litecoin stands to rally with first targets at $70.

Litecoin Price Analysis

Fundamentals

As alternative and superior money for the web, the primary driver has to be adoption. The more Litecoin (LTC) finds utility, the more its value will skyrocket pushing it to the mainstream. We have had several campaigns like #PaywithLitecoin complete with a functional website showing the number of merchants and other metrics. However, it is the growing social media attentions Litecoin has been receiving in the last couple of weeks. Aside from price revival, the Litecoin Foundation sponsors the UFC and what’s more? Development is picking up. The end move is to make Litecoin a go-to currency for all and sundry.

For this reason, the network is keen on adding Confidential Transactions (CT) as well as Mimble Wimble tech as features in days ahead. Add that to their working synergy with Bitcoin—as its silver, and myriads of opportunities open up. Note that like Bitcoin, Litecoin is interested in the Lightning Network and similar to BTC LN, their LN is gaining traction.

Statistics from 1ML indicate that the number of nodes edged up 17 percent to 162 while the network capacity increased by 76 percent handling $8,095.49 at the time of press. Compared to Bitcoin’s, Litecoin LN capacity is 4X in nominal terms.

Candlestick Arrangement

Litecoin

It is official, the bear breakout pattern of mid-Nov 2018 is null and Litecoin (LTC) bulls are therefore in control. With an impressive performance, Litecoin is cementing its position at fourth gaining 27.8 percent in the last week. From the chart, it is likely that Litecoin will close above $50—a milestone, a level last retested in Dec 2018. Since we are trading within a bullish breakout pattern both set of traders can fine-tune entries in lower time frames with aims at $70 and later, $110.

Technical Indicators

Distinguishing price action of mid to late Q4 2018 are high average volumes. Note that the breakout bar of the week ending Nov 18 had averages of 954k. When we compare with those of week ending Mar 3 at 1.5 million, it is clear that there is participation. Luckily, prices are edging higher, closing above $50 canceling the bear break-out pattern set in motion in mid-Nov.

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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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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

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