Blockchain

Litecoin (LTC) Price Analysis: Fresh Bullish Breakout Likely Above $50

Litecoin price is currently consolidating losses above the $45.00 and $46.00 support levels against the US Dollar. LTC price is currently testing the $49.20 resistance level and it is well below the 55 simple moving average (4-hours). There is a key contracting triangle forming with resistance near $49.25 on the 4-hours chart of the LTC/USD…

The post Litecoin (LTC) Price Analysis: Fresh Bullish Breakout Likely Above $50 appeared first on Live Bitcoin News.

Published

6 months ago

September 10, 2020

Republished by Plato

Litecoin price is currently consolidating losses above the $45.00 and $46.00 support levels against the US Dollar.
LTC price is currently testing the $49.20 resistance level and it is well below the 55 simple moving average (4-hours).
There is a key contracting triangle forming with resistance near $49.25 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
The pair must break the $49.50 and $50.00 resistance levels to move into a positive zone.

Litecoin price is currently consolidating losses above the $45.00 support against the US Dollar, similar to bitcoin. LTC price is likely to accelerate higher if it clears $50.00.

Litecoin Price Analysis

In the past two sessions, there were mostly range moves in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC price declined heavily below the $55.00 support level and the 55 simple moving average (4-hours).

The decline gained pace below the $50.00 support and it traded to a new multi-week low at $45.19. Recently, the price started consolidating losses above the $45.00 and $46.00 support levels.

It is currently testing the $49.20 resistance level. The stated resistance coincides with the 23.6% Fib retracement level of the downward move from the $64.36 high to $45.19 low. There is also a key contracting triangle forming with resistance near $49.25 on the 4-hours chart of the LTC/USD pair.

If there is an upside break above the triangle resistance at $49.50, the price could surge above the $50.00 resistance zone. The next major resistance is near the $52.00 level and the 55 simple moving average (4-hours).

Any further gains could lead the price towards the $54.75 and $55.00 resistance levels. The 50% Fib retracement level of the downward move from the $64.36 high to $45.19 low is also near the $54.78 level to act as a hurdle.

Conversely, the price might fail to surpass the $49.50 and $50.00 resistance levels. An initial support is near the $47.50 level. The main support is near the triangle lower trend line and the $46.00 level. A clear close below $46.00 may perhaps open the doors for a push towards the $40.00 support.

Litecoin Price

Looking at the chart, litecoin price is clearly approaching the next major break near the $50.00 level. Overall, the price must break the $49.50 and $50.00 resistance levels to move into a positive zone in the near term.

Technical indicators

4 hours MACD – The MACD for LTC/USD is currently gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently just above the 50 level.

Key Support Levels – $47.50 and $46.00.

Key Resistance Levels – $49.50 and $50.00.

Tags: litecoin, LTC Source: https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-fresh-bullish-breakout-likely-above-50/

Blockchain

Bitcoin Halving: Definitive Guide (In Just 5 Minutes)

Published

2 hours ago

March 3, 2021

Republished by Plato

Bitcoin halving is often referred to as “Halvening”, it’s a formulated reduction in the reward coins offered to the miners using a predefined blockchain algorithm.

Bitcoin halvings take place once in every four – 4 years approximately, or for every 210,000 block transactions.

The process of halvening started in the year 2012, approximately after 4 years of the invention of bitcoin i.e 2008, but practically bitcoins came into play in the year 2009.

After the first bitcoin halving, the block reward of 50 bitcoins per transaction were reduced to 25 bitcoins per block or transaction, later this reward was further reduced to 12.5 and it has now fallen to 6.25 after halvening in 2020.

The main idea of halvening is to create scarcity for the coins and to control inflation, as bitcoins issuance is limited to 21 million coins as per the idea of Satoshi Nakamoto, inventor of Bitcoin.

The production of 21 million bitcoins involves 32 halvenings, we are now done with two halvenings and this might continue till or come to an end in the year 2140.

Investors from all over the world are excited and waiting for the Bitcoin price to increase, and the demand for bitcoins in the online gambling industry is high. Bitcoins are widely accepted at Bitcoin Casinos as they collect deposits in the form of cryptocurrency from their players.

To know the overview of Bitcoin Halving (Just in minutes), check out the following infographic developed by Abishai James at WinBTC.net in partnership with ACMarket.

Blockchain

Santiment Reveals Top 10 Ethereum Projects by Developer Activity

Published

3 hours ago

March 3, 2021

Republished by Plato

Despite record highs for network charges in February, development on some of the industry’s leading Ethereum based projects has continued unabated.

The research stated that development activity is an often-underrated indicator of project success. It demonstrates the ongoing commitment to creating a working product, continuously polishing and upgrading its features, and staying true to the long-term roadmap.

The research focused solely on pure ERC-20 projects that are currently committed to developing on Ethereum. It has used 30-day Github activity to track development status and action.

We’ve just released our top 10 highest developing #Ethereum-based project countdown for the month of February! Read what the fastest moving projects using $ETH tech. are working on:

1) $GNO @gnosisPM
2) $SNT @ethstatus
3) $MANA @decentraland
4) $UMA @UMAprotocol

👇 (Cont’d) pic.twitter.com/ZGWkrgzHpH

— Santiment (@santimentfeed) March 3, 2021

The Ethereum Project Top Ten

At the top of the list for developer activity in February is the decentralized prediction market platform Gnosis. Despite a 28% slide in GNO token prices for the second half of the month, the Gnosis team has been busy working on the product.

Gnosis launched on the xDai Ethereum sidechain, joined the Open DeFi alliance, and launched a new collaborative grants initiative for Gnosis Safe Apps last month.

Status was the second most developed Ethereum based project with a number of updates for the open source mobile dApp browser and messenger. SNT prices hit a three-year high of $0.125 in February.

Virtual metaverse and NFT protocol Decentraland was third in the list of developer activity with a number of features introduced to improve user experiences.

DeFi synthetic asset protocol UMA came in fourth with two main focuses for the month; getting some major protocols out the door, and there was a collaboration with BadgerDAO.

Coming in at number five for developer action was Chainlink which announced the official mainnet launch of Off-Chain Reporting (OCR). This significantly improves the efficiency of how data is computed across Chainlink oracles, reducing operating costs by up to 90%, it added.

“The most immediate benefit to DeFi and its users will be a 10x increase in the amount of real-world data that can be made available to smart contract applications.”

DeFi Dominates

These were the five most developed platforms in the Ethereum ecosystem for February 2021, and they were dominated by DeFi.

Also featuring in the top ten list was Skale Network, a decentralized modular cloud for running Ethereum-based dApps. MakerDAO, which is consistently in the top ten for development, was in seventh place.

Decentralized data exchange protocol Ocean, computing sharing economy Golem, and analytics platform Santiment itself rounded out the top ten.

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Source: https://cryptopotato.com/santiment-reveals-top-10-ethereum-projects-by-developer-activity/

Blockchain

Blockchain in Sports Betting

Published

3 hours ago

March 3, 2021

Republished by Plato

Wanna enter the Sports betting industry? Are you worried about the transactional data, security and entry charges?

Just relax and lean on to your chair. The amazing features of blockchain technology have reshaped the sports betting industry. It enhances safe and secure transactions as it is an open source decentralized network.

Basically, blockchain offers tremendous features like transparency, fast payouts, speedy transactions, independent in nature, etc. The most effective feature is the player’s account will not be restricted or blocked either personally or professionally due to extreme winnings.

Blockchain is the most prominent technology ruling today’s betting industry. It’s advancement in the sports industry has laid a pavement for its enormous growth in recent times.

To get detailed information, checkout the following Infographic developed by WinBTC.net in Partnership with MrBet.me.uk.