Litecoin (LTC) Technical Analysis: Litecoin Summit Over, Gemini Support, Lite.IM Now Live, When Lambo?

Published 09/18/2018, 08:15 AM
Updated 09/18/2018, 09:20 AM
 Litecoin (LTC) Technical Analysis: Litecoin Summit Over, Gemini Support, Lite.IM Now Live, When Lambo?
BTC/USD
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LTC/BTC
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LTC/USD
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The hugely successful Litecoin Summit is now officially over but surprisingly the project is still battling to shake off bearish traders. Despite a host of new announcements, including the highly anticipated launch of Lite.IM and support from the Winklevoss Twins’ Gemini crypto exchange, LTC ended yesterday with a 4.55% loss.

In the last 24hrs the crypto market has fallen back below $200 billion and the headliner, Bitcoin (BTC), is also flagging to stay in the $6,200-$6,300 range. It is not uncommon for Litecoin’s value to depend largely on Bitcoin’s market performance at any given time and right now this is the most likely cause of LTC’s inhibited progress.

Diving into the LTC/BTC analysis featured in the video above, we can see that Litecoin was actually looking pretty bullish, with a promising pennant reaching consolidation. However, strong efforts had been made in earlier trading to bring LTC’s value down, and a few hours after the video ana...


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