Litecoin Price Most Latest Update and Analysis

Litecoin (LTC) has enjoyed a period of relative ease after its dreary decline from $83 to $60 during the past three weeks. Still, it remains in a neutral position until it breaks under the 200 MA.

Also, LTC has continued a period of consolidation around the $60 level of support. And this occurred after its 28% drop to the downside over the last three weeks.

In the above, the $60 key level, Litecoin, more importantly, must continue to trade above the daily 200 moving average. It is currently coming in at about $58.

Aside from that, a daily candle close under the 200 MA will hint a definite change in the market. And this is with bearish pressure being triumphant over the optimism felt across every cryptocurrency at the beginning of this year.

Then, it is also essential to know that altcoins like Litecoin are still significantly up on where they were at the turn of the year. And LTC having risen from under $40.

But, if LTC fails to hit, the $83 level in February is potentially damming, with bullish momentum looking like subsiding over the past fortnight. Potential levels of support, if Litecoin breaks under $60, are at $54, $50, and $47. On the other hand, the upside targets are still at $64 and $70.

Most of LTC’s future trajectory will rely on the impact of Bitcoin’s halving event. And they will cut block rewards for miners from 12.5 BTC per block to 6.25 BTC. This has historically seen the value of cryptos increase because of a reduction in supply.

More About LTC

Currently, the Magical Crypto Friends show talked about the Litecoin Summit 2019. People can watch this on YouTube, and it features LTC founder Charlie Lee. In the show, it covered the most vital discussions in the community – from Litecoin being a store of value to the latest development updates.

According to Lee, the project was working on privacy developments too. The Litecoin development team collaborated with the Mimblewinble protocol, especially the developers behind Grim. And they plan to add the privacy protocol as an extension block potentially.

In addition to that, Lee confirmed that it would work as he says, “We’re working with the Grim++ developers to add an implementation of Mimblewimble. It adds an extension block to the Litecoin main-chain.”

Also, he said that they could transact between chains to use improved privacy. And they aim to provide Litecoin users with enhanced privacy features when transacting.

Ceres of Japan Invests in Crypto Fund

Meanwhile, a marketing firm based in Japan, Ceres, has just become the latest in the San Francisco-based blockchain and cryptocurrency hedge fund Pantera Capital.

Ceres revealed this on its website on February 28. and they announced that they were supplying Pantera an undisclosed amount of yen towards the group’s third crypto fund.

Being the first crypto fund in the United States, Pantera was fast to see the potential in crypto and raised $13 million for its debut offering in 2013, then, 425 million for its second.

Pantera Venture Offshore Fund III LP, the group’s third venture fund, was registered back in August 2018.

Moreover, the 10-year, $175-million fund focuses on investments in blockchain-related firms, ICO tokens, and related businesses. Previously, Pantera has invested in Ripple, Brave, Circle, and Bitstamp as well as ICO tokens such as 0x, Protocol, Kyber, and Polkadot.