Connect with us

Blockchain

Litecoin long-term Price Analysis: 13 June

Avatar

Published

on

Disclaimer: This analysis will be attempting to foresee changes in Litecoin’s price charts until the final week of June 

Following the unexpected market crash in March, Bitcoin was resilient enough to claw back to its yearly high of $10,400, albeit briefly. Alas, Litecoin hasn’t noted the same level of tenacity, with LTC continuing to consolidate way below its yearly-high of $84. It would seem now that the situation hasn’t improved much for Litecoin yet, and a continued struggle was evident in light of the bearish pressure on the charts.

Litecoin 1-day chart

As illustrated by the charts, the key problem with Litecoin’s bullish narrative has been its inability to surge over its 200-Moving Average (Orange line). On the contrary, both Bitcoin and Ethereum have managed to sustain a positive trend above their Moving Averages on the charts over the past few weeks.

At the time of writing, Litecoin’s price continued to move within the trendlines of an ascending channel. At first glance, a bearish breakout seemed imminent as the price was consistently moving under the average line of the channel pattern.

Considering the possibility of a bearish breakout panning out, LTC might potentially drop below its support at $41-$40, a range held since the start of May. A quick surge to the resistance level at $48 might surface over the next two weeks, but it is unlikely to breach the target. Strong supports below $40 remained at $36, a level that might be the probable position by mid-July.

At the time of writing, the Relative Strength Index or RSI was noting a glimmer of hope as the buying pressure kept the rating above 41. However, any move below the aforementioned mark will possibly trigger the drop-down to $36.

Litecoin 1-day chart

With respect to the Fibonacci Retracement, Litecoin has been treading close to the 0.618 lines at $44 since the end of April. However, considering a drop was, at press time, expected, a position below 0.5 ($39) could surface by the end of June 2020. A further pullback will eventually bring the crypto-asset near 0.382.

Further, the bearish nature noted by MACD, as the red line hovered over the blue line, had the potential to dampen some of the optimism in the market.

Conclusion 

Litecoin will possibly drop down to $40 by 24th-29th June. Further bearish pressure will take the valuation close to $36 by mid-July.

Your feedback is important to us!

Source: https://eng.ambcrypto.com/litecoin-long-term-price-analysis-13-june

Blockchain

U.S. crypto exchanges have a plan for the travel rule. Now they just have to get along


Quick Take

  • A working group of 25 U.S.-based exchanges released a white paper this week outlining their platform to comply with FATF’s travel rule.
  • The group includes some of the most prominent exchanges stateside, suggesting that the plan has legs.
  • Now, the group has to develop a governance structure.
Avatar

Published

on




U.S. crypto exchanges have a plan for how to deal with FATF’s travel rule














Source: https://www.theblockcrypto.com/daily/82261/us-crypto-exchanges-fatf-travel-rule?utm_source=rss&utm_medium=rss

Continue Reading

Blockchain

Exploring the current state of cryptocurrency taxation in the European Union


Quick Take

  • By now, guidelines for  taxation of cryptocurrency activities exist in most EU member countries. However, grey areas remain.
  • Highly favorable tax treatments in some, and lack of taxation in other EU member countries enables regulatory arbitrage.
Avatar

Published

on




Exploring the current state of cryptocurrency taxation in the European Union














Source: https://www.theblockcrypto.com/genesis/82157/exploring-the-current-state-of-cryptocurrency-taxation-in-the-european-union?utm_source=rss&utm_medium=rss

Continue Reading

Blockchain

FinCEN proposes lower threshold for transaction data-gathering under FATF’s ‘travel rule’ including those made with crypto

Proposed rule change would mandate financial institutions gather and share data on smaller international transactions by lowering the threshold from $3,000 to $250.

The post FinCEN proposes lower threshold for transaction data-gathering under FATF’s ‘travel rule’ including those made with crypto appeared first on The Block.

Avatar

Published

on




FinCEN proposes lower threshold for transaction data-gathering under FATF’s ‘travel rule’ including those made with crypto














Source: https://www.theblockcrypto.com/linked/82229/fincen-proposes-lower-threshold-for-transaction-data-gathering-under-fatfs-travel-rule-including-those-made-with-crypto?utm_source=rss&utm_medium=rss

Continue Reading
Esports2 hours ago

G2 close in on NiKo deal

Denmark
Esports2 hours ago

Lyngby Vikings replace ENCE in Elisa Invitational; new groups and schedule revealed

Esports2 hours ago

Madden 2 ‘In Order to Access The Online Features:’ How to Fix the Bug

Esports2 hours ago

Apex Legends Switch Delayed Again

Esports2 hours ago

Pokémon GO Colorful Pokémon Are Revealed

CIS
Esports3 hours ago

Virtus.pro extend unbeaten streak with win over NAVI to reach IEM New York CIS grand final

Denmark
Esports4 hours ago

Heroic eliminate NiP; to face Astralis in DreamHack Open Fall consolidation final

Blockchain News7 hours ago

Kik Survives Legal Battle With the SEC, Kin Crypto to Continue Trading on Exchanges

Esports8 hours ago

How to Play With Friends Online in Dynamax Adventures in Pokémon Sword and Shield The Crown Tundra

Esports8 hours ago

How to Separate and Rejoin Calyrex from Glastrier or Spectrier in Pokémon Sword and Shield Crown Tundra

Energy9 hours ago

Grand Opening of the 25th China (Guzhen) International Lighting Fair

Esports9 hours ago

All increased spawns, encounters, and event raids for the Pokémon Go Halloween Event

Esports9 hours ago

All Timed Research tasks and rewards in Pokémon Go’s 2020 Halloween event

Esports9 hours ago

All ‘A Spooky Message Unmasked’ Special Research tasks and rewards in Pokémon Go

AR/VR11 hours ago

Unity announces plans to release experimental version of Unity OpenXR early next year

Energy12 hours ago

World’s Sole Owner of PERKLONE and TRIKLONE Now Supplying Saudi Arabia Oil & Petroleum Refineries; PERKLONE EXT; Catalyst grade, UOP Approved

Esports14 hours ago

Complexity Gaming Signs Jks From 100 Thieves

Blockchain News17 hours ago

People’s Bank of China Seeks to Prohibit the Creation of Digital Tokens

Energy17 hours ago

EV Charge Holding Limited sichert sich 15 Millionen Euro von GEM

Energy17 hours ago

Xinhua Silk Road: Chinas Solarindustrie soll angesichts der angestrebten Klimaneutralität schneller wachsen

Energy19 hours ago

Xinhua Silk Road: o setor solar da China deve concretizar um crescimento mais rápido em meio a um objetivo de neutralidade de carbono

Energy19 hours ago

Xinhua Silk Road: La industria solar de China adoptará un crecimiento más rápido en busca del objetivo de la neutralidad de carbono

Fintech20 hours ago

HSBC leans into APIs to expand Cash Flow Forecasting tool

Blockchain20 hours ago

U.S. crypto exchanges have a plan for the travel rule. Now they just have to get along

Esports20 hours ago

jks: “I’m at the point in my career where I really just want to win a lot of things; this is the reason why I came to Complexity”

Energy20 hours ago

Insights on the Fermented Ingredients Global Market to 2027 – Strategic Recommendations for New Entrants

Blockchain21 hours ago

Exploring the current state of cryptocurrency taxation in the European Union

Fintech21 hours ago

Canada Partners with Swiss, U.S. Fintechs; Neobank Raises Millions in Mexico

Energy21 hours ago

$6.9 Billion Worldwide Spandex Industry to 2027 – Impact of COVID-19 on the Market

Energy21 hours ago

Kimbell Royalty Partners Declares Third Quarter 2020 Distribution

Denmark
Esports21 hours ago

Vitality edge out Astralis to reach DreamHack Open Fall grand final

Energy21 hours ago

Turquoise Hill completes 10:1 share consolidation

Energy21 hours ago

Insights on the Rayon Fibers Global Market to 2027 – Featuring Grasim Industries, Kelheim Fibres and Lenzing Among Others

Aerospace21 hours ago

Boston startups expand region’s venture capital footprint

Esports21 hours ago

How to Make Excellent Throws in Pokémon GO

Esports21 hours ago

Professor Willow Spotted a Colorful Pokémon: Galarian Ponyta Teased in Pokémon GO

Esports21 hours ago

Adventure Together Pokémon GO: How to Make a Pokémon Your Buddy

Energy22 hours ago

Valvoline to Participate in Gabelli Annual Automotive Aftermarket Symposium on Nov. 3

Energy22 hours ago

$172 Million Worldwide Friction Stir Welding Equipment Industry to 2027 – Impact of COVID-19 on the Market

Blockchain News22 hours ago

Blockchain: Everything You Need to Know

Trending