Bulls Trying To Push Litecoin Price Higher - $200 USD Rally Can Soon Begin.

Bulls Trying To Push Litecoin Price Higher - $200 USD Rally Can Soon Begin.

2021-11-01 | Robin Williams

Bulls Trying To Push Litecoin Price Higher - $200 USD Rally Can Soon Begin.

One of the original coins in the crypto-space, Litecoin, has had a bit of a run recently. In reality, the coin was still down 54% from its all-time high of $ 410 at the time of writing. However, recent changes in the ecosystem, as well as LTC's recent high acceptability, have acted as a fuel for growth. Price variations are likely to upset LTC owners and traders, as the price of LTC remains near $ 187. Payments in Litecoin appear to be becoming more widely accepted. BitPay, a Bitcoin service provider, and Verifone recently partnered to increase the adoption of LTC-based digital payments. Verifone is one of the world's major retailers for the selling of points, with annual sales of roughly $ 440 billion. BitPay is a cryptocurrency payment processor that processes over 60,000 customer transactions every month, including Bitcoin, Ethereum, Litecoin, and others. With escalating network charges, Litecoin on-chain activity exploded throughout the growing acquisition. As a result, the number of LTC positions increased to over 140K just a few days ago, after dipping below 100K in early October. Litecoin to USD Chart

Litecoin/USD 1 Day Price Chart: Source - coinmarketcap.com

This came only a few days after the Litecoin Foundation announced the debut of its LTC Visa Debit card, which was sponsored by fintech firm Unbanked. Furthermore, the volatile trading volume of Litecoin by more than 60%, reaching $ 2.51 billion on October 27 and $ 824.5 million on October 26, 2021. In addition, the Litecoin Foundation claims that LTC has reached more than 50 million merchants globally as institutional fees for litecoin have increased. This was accompanied by a small increase in active addresses as well as new LTC addresses. At the time of writing, Litecoin's new addresses have reached an all-time high of 306,447. New members have been flocking to the network in droves as the network evolves and LTC prices rise. While the LTC was well-functioning in terms of consumer finances and institutional investments previous to its purchase, its price seemed to be astonishing in moving averages. In fact, despite on-chain measures illuminating the warning, the LTC plummeted about 11% in the selloffs on October 27. In the long run, the price of Litecoin is attempting to retain its significant moving averages of 100 lines and 200 days, but it is failing to do so. Another intriguing trend is that Litecoin was 10 years lower than Bitcoin, despite the fact that the fundamentals of LTC appeared to be robust. Is it therefore possible that this is a symptom of a breakup? Historically, though, Litecoin has seen a significant increase whenever it has seen such low levels on the LTC / BTC chart. In a short period, the LTC, too, began to gather traction. In the daily timeframe, Alt traded at $187, representing a 2% rise. If the LTC decreases in the near future, however, it will be supported at $160. At the time of writing, the LTC finally appears to be gaining traction, and the $200 level has not yet shown in the coin. In fact, based on increasing on-chain activity, Litecoin could reach a price of $230 in the near future, as long as the bulls keep pushing prices higher.

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