LITECOIN TECHNICAL ANALYSIS (LTC US DOLLAR)


Litecoin Price Forecast: LTC/USD loses steam short of $60.00


Technical Overview


Fundamental Overview



Big Picture

Themes affecting Cryptocurrencies

Sponsor broker


Latest Litecoin Analysis


Latest Litecoin Analysis

Editors' picks

Bitcoin unstoppable push to $12,000, China piloting digital currency in cities

BTC/USD again failed in the journey to overcome the resistance at $12,000. The bullish leg made it above the resistance at $11,600 but hit the next hurdle at $11,800.

More Bitcoin News

XRP/USD on the verge of a triangle breakout, is $0.32 within reach?

Ripple price has been narrowing within a falling triangle pattern for two weeks now. The retreat followed an impressive price action that has seen XRP rally from July lows at $0.1740. 

More Ripple News

Ethereum Classic Price Analysis: ETC/USD bulls fail near the $7-level

ETC/USD faced bearish correction following two straight bullish sessions. The price dropped from $6.925 to $6.889. The moving average convergence/divergence (MACD) shows sustained bearish ...

More Ethereum Classic News

Cardano Market Update: Bulls stay in control as staked ADA count crosses ten billion

With over ten billion ADA being staked and more than 920 active staking pools, Cardano appears to have reached a new milestone. After the recent Shelley upgrade, users have been able to stake their ADA ...

More TRON news

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast

BTC

ETH

XRP


CRYPTO EDUCATION

Characteristics of Litecoin

Litecoin is an open-source cryptocurrency created on October 7, 2011. It emerged as an alternative to Bitcoin, improving some of its basic characteristics:

  • First, it has a greater speed in the verification and processing of its blocks, which are carried out in 2.5 minutes while the time required by the Bitcoin is 10 minutes.
  • Second, the Bitcoin will reach its total volume in 2140, when it will have a total of 21 million units. The Litecoin will have a maximum of 84 million units.
  • Third, the Litecoin has a function that simplifies and reduces the energy necessary to perform the mining of the cryptocurrency called Scrypt proof of work.

Among the main similarities between Litecoin and Bitcoin::

  • Both are based on the blockchain
  • It allows a mining process
  • The division of the main unit of both Litecoin and Bitcoin is 8 decimals.
  • The difficulty of mining Bitcoin and Litecoin increases every 2016 blocks.
  • Both use the Proof of Work (PoW) algorithm

What is the Difference Between Litecoin and Bitcoin?

In addition to the aforementioned differences between Litecoin and Bitcoin, it is vital to note that mining differs between both cryptocurrencies. The central change lies within the algorithms. Litecoin uses crypt while Bitcoin’s algorithm is based on SHA-256. The S-crypt algorithm makes extracting Litecoin far faster in generating a block: a mere 2.5 minutes against 10 minutes for Bitcoin.

The rapid mining clip results in enhanced security: being four times faster makes Litecoin more secure. Likewise, mining Litecoin entails an additional benefit. As Litecoin miners are grouped in mining pools, the compensation for the effort is attributed to all participants and there is a diminished probability of mining efforts resulting in no compensation. This feature has attracted miners to LTC, which has the second-highest mining volume behind Bitcoin.

How to buy Litecoin, Bitcoin, Ethereum and Ripple

Trading cryptocurrencies does not have to be a tiresome and obscure process once you know what to do and what to expect. Below is a quick round up of key takeaways. How to buy and trade cryptocurrency in four easy steps:

  • Step one. Choose your coin. If you are new to cryptocurrencies, start with Bitcoin, Ethereum, Litecoin or other large and established currencies. They are more liquid and less volatile.
  • Step two. Create your wallet. The easiest way to do this is to register with an online service. Don't forget, that wallets are currency specific. It means that they can send and receive only compatible coins and tokens. If you prefer pure trading and not owning cryptos, you can skip this step.
  • Step three. Buy some crypto coins with P2P trading platforms or visit cryptocurrency exchange that supports buying crypto for fiat money. You will need to provide details to register with the exchanges. Some of them will have you link your bank account or credit card to pay for your Bitcoins. If you prefer only trading and not owning cryptos, you can skip this stage.
  • Step four. Open an account with a cryptocurrency trading exchange with good liquidity and a full range of tradable cryptocurrency pairs or with a forex broker. Some exchanges and brokers will ask you to verify your identity and enable two-step authentication for better protection. Step five. Develop a solid trading strategy and exercise strict self-discipline to avoid hasty trading decisions. Educate yourself on trading fundamentals and trading psychology issues - they all apply to cryptocurrency markets.