In accordance with the candlestick chart connected to the LTC/USD pair on tradingview [based on data obtained from the Bitfinex Exchange], this digital currency is once again being affected by an influx of sellers. The MACD line headed south of the signal line today, thereby causing the histogram to switch sides and change color [from red to green]. The daily RSI [for 14 periods] looks to be diving [gradually] and sits at 49.95 for now. This signifies that Litecoin may be oversold if bearish momentum climbs.
In the aftermath of 8th November, the majority of peaks tied to the Awesome Oscillator possessed the brown shade [except the one associated with yesterday’s performance]. Resistance may be felt if $LTC can afford to head towards the $66.755 mark, and support can be found adjacent to $57.011. In my opinion, Litecoin remains undervalued and can potentially skyrocket by the end of 2019.
Charlie Lee kickstarted a rumor [on Telegram] which claims that the mysterious Satoshi Nakamoto had been the one behind the anonymous 50 BTC donation sent to GRIN to promote development. Litecoin is planning to implement MimbleWimble by working alongside GRIN [a privacy-centric project that is meant to enhance scalability].
Litecoin is ranked at #6 ahead of Binance Coin as well as EOS in the market. The trading volume recorded stands at approximately $3.202 billion, while the supply has 63,675,821 LTC coins involved as part of circulation. The total market cap of Litecoin amounts to $3.837 billion for now. The price plunged at a rate of 1.76% in the course of the past 24-hours; this, in turn, resulted in $LTC dropping all the way down to reach $60.27 where it currently holds.
Coinmarketcap lists 4978 coins. Here’s the top 50 by volume. Below the top 40 doesn’t even register i.e. 4938 coins are illiquid.
Investors want liquidity at entry and liquidity on exit. Very few coins have credible liquidity to be good investments. pic.twitter.com/3kXgn3NWjV
— Willy Woo (@woonomic) November 13, 2019