Why Litecoin Won’t Break Out—Analytics Firm Reveals the Cause
The market intelligence platform IntoTheBlock has explained the reason why Litecoin has been stuck inside the $90 to $130 range recently. Litecoin Exchange Netflow Has Followed An Interesting Pattern Recently In a new post on X, the analytics firm IntoTheBlock has discussed about a pattern that the Litecoin Exchange Netflow has shown during the recent phase of consolidation in the asset’s price. Related Reading: Glassnode Reveals Where Bitcoin Could Find Support If Current Level Breaks Down The “Exchange Netflow” here refers to an on-chain indicator that keeps track of....
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According to a report stemming from the blockchain analytics firm Argus, Sam Bankman-Fried’s trading firm Alameda Research obtained tokens ahead of FTX.com listings. The report claims that Alameda acquired roughly $60 million worth of tokens before the digital assets were scheduled to be listed on FTX. Blockchain Analytics Firm Says Alameda Had an Insider’s Edge a Month Prior to FTX Listings Wall Street Journal (WSJ) contributor Caitlin Ostroff detailed on Nov. 14, 2022, that analysis from the blockchain analytics firm Argus indicates the now-bankrupt Alameda Research had....
Wang Chun, F2Pool’s co-founder, told CCN that he is planning to upgrade his Litecoin pool to segregated witnesses (segwit), but “it won’t happen in the next couple of weeks.” He further told CCN that his bitcoin pool, which currently controls around 14% of the network’s hashrate, won’t upgrade to segwit “anytime soon.” Chun stated: We’ll do it on Litecoin first and then make an evaluation if it is feasible on bitcoin. Litecoin’s F2Pool currently controls around 43% of the network’s hashrate. Batpool and Litecoinpool.org are both already signaling for segwit. Combined, around 60% of the....
Litecoin price may trade higher in the near term. However, it won’t be a wise call to buy Litecoins as the trend still remains down. Intraday Support Level (HitBTC) may be at $3.00. Intraday Resistance Level can be around $3.10. Litecoin price was under a lot of bearish pressure recently, as it traded down and even spiked below the $3.0 handle. The price started a minor recovery yesterday, and there was a flag pattern formed on the 2-hours chart with the data feed from HitBTC, as highlighted in yesterday’s post. The best part is that the price managed to spike above the highlighted flag....
The mighty bulls are back! After taking adequate rest and catching enough breath, they have made a powerful comeback and exposed the frailty of the short-sellers. Backed by strong sentiments, Litecoin is now challenging a crucial resistance level. Litecoin is currently trading up 2.8% at $1.865. From a technical perspective, things look very positive for the virtual currency. An analysis of the 240-minute LTC-USD price chart tells that Litecoin should threaten previous tops unless bulls lose complete control of the situation. Litecoin Chart Structure - A closer look at the chart reveals....
All of a sudden Litecoin price hit $3.30 and reached the important level of $3.80 in a decent jump that would make traders happy. Just the day before, Litecoin gave no signs of getting to the price level of $3 and $3.20, but it did go up slightly to $3.50 and $3.60 and even reached $3.80! This is the same in all cryptocurrency exchanges and, of course, this dynamic could not last long. It’s similar to the pole vaulter — the jump won’t last long. So Litecoin price fell into the correction and returned to the familiar price level of $3.50-$3.70.