Litecoin has very strong support around 0.010 BTC per coin (1:100 ratio). This is very undervalued and soon should break free. Expect change to 1:50, 1:25, 1:10 till 1:4 (and even 1:2) ratio with BTC the closer it gets to the August 1st date that is so crucial for BTC and cryptocurrencies future as a whole. The role of Litecoin will get clearer to mainstream as soon as the media starts articulating it - this is still only clear for people that really understand how technology works and how it gets implemented. If Segwit is not implemented on Bitcoin or Bitcoin continues without a clear midterm scaling solution, it will be bad for the USD price and good for the LTCBTC ratio. If Segwit activated on BTC - it will value litecoin as a more secure sidechain (than any lightning network) with easy swap between bitcoin and litecoin and it will be adopted as a payments channel option. Litecoin future is bright IMO. I'm HODLING.
Comment:
Still on track - 0.010 support not broken, tested and denied again. Lookout for that breakout anytime now. More fundamentals are pilling in and a lot of energy being accumulated
Trade active:
Starting to move, this is the day we needed to finally have a clear breakout. Monday LTC will be launched on Bitstamp, so we should expect a massive pump during the weekend and more after trade starts at Bitstamp. This uptrend should last for the next 2 months at least. (8 weeks)
Comment:
Nice move, strong bull indicators on the daily. Going for a ride
Trade active:
Strong fundamentals, this bull is far from over. litecoin.mit.edu
Trade active:
Plateau reached. Consolidation.