- Fundamentals : Although many other altcoins are dominating these days making new highs in the Cryptocurrency market, some of the prominent ones are still trending slowly or consolidating at the moment. Litecoin too is stuck in this same atmosphere.
However the reason behind of the current atmosphere of Litecoin may seem as a result of its founder Charlie Lee selling all of his reserved LTC just to make it clear that his remarks on Litecoin through frequent tweets that fuel the price up every time do not reflect on his personal gains on the holdings of his proportion of Litecoin.
Recent issues with scalability and higher transaction fees are causing more inconvenience and Litecoin Foundation making changes to resolve this issue with using LTC in transactions can bring more attention inducing a surge in price soon. However till that is brought in to effect it is possible that the price of Litecoin will move conforming to the Technical Analysis displayed on the chart.
- Technicals : If the price breaks below the red trendline at $207 USD marked by a sign of an unlocked paddlock, it is possible to see a decline as per the applied Fib retracement levels until a previously formed high near $104 USD where it will serve as a key support for the price.
However the reason behind of the current atmosphere of Litecoin may seem as a result of its founder Charlie Lee selling all of his reserved LTC just to make it clear that his remarks on Litecoin through frequent tweets that fuel the price up every time do not reflect on his personal gains on the holdings of his proportion of Litecoin.
Recent issues with scalability and higher transaction fees are causing more inconvenience and Litecoin Foundation making changes to resolve this issue with using LTC in transactions can bring more attention inducing a surge in price soon. However till that is brought in to effect it is possible that the price of Litecoin will move conforming to the Technical Analysis displayed on the chart.
- Technicals : If the price breaks below the red trendline at $207 USD marked by a sign of an unlocked paddlock, it is possible to see a decline as per the applied Fib retracement levels until a previously formed high near $104 USD where it will serve as a key support for the price.