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Altcoin Thursday: Litecoin (LTC)

13 May 2021 | ZebPay Trade-Desk

This week we are taking on Litecoin, as part of our weekly Altcoin Thursday snapshot. LTC is a cryptocurrency designed to provide fast, secure, and low-cost payments. Behind BTC, LTC is the second most popular pure cryptocurrency. Its success is largely attributed to its simplicity and utility benefits. Today, Litecoin is one of the most widely accepted cryptocurrencies, and more than 2,000 merchants and stores now accept LTC across the globe.

Litecoin, after correcting, started to move upwards from 25th April 2021 and it made the all time high of $413.49 surging almost 93.5%. Post this feat, we saw some corrections and the prices fell by almost 28% making the low of $297.86. On the technical front, LTC can take the support at $288 (61.8% Fibonacci Retracement level) and $335 can act as a crucial resistance. Breakouts on either side with good volumes will further decide the trend for the asset.

Support 2Support 1LTCResistance 1Resistance 2

This concludes on Altcoin synopsis for this week. Don’t forget to keep an eye out for our new poll, and let us know which coin you would like us to cover next week!

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation, or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness, or reliability of the information, opinions, or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum, etc. are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.


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