While the identity of the creator of Bitcoin after about 12 years is still unclear, the creator of Litecoin is a Chinese youth named Charlie Lee. Former Google and Coinbase employee introduced Lightning Network in 2011 with major changes to the Bitcoin protocol.
Litecoin has broken its downtrend since the beginning of 2020 and has since been in the bullish channel. The Corona virus has not diminished the digital currency market, and has been a factor in falling market prices.
As can be seen in the daily chart, after the break up of the bullish channel, price faced the 61.8 Fibonacci retracement level of ascending rally between 35$ and 84$ 84 and the 200-day moving average .Support in the current range could raise the price to $ 80.
On the other hand, if Bitcoin fails to maintain its $ 8500 support, we will have the price cut to $ 46 in the first step and $ 35 in the next step.
Litecoin has broken its downtrend since the beginning of 2020 and has since been in the bullish channel. The Corona virus has not diminished the digital currency market, and has been a factor in falling market prices.
As can be seen in the daily chart, after the break up of the bullish channel, price faced the 61.8 Fibonacci retracement level of ascending rally between 35$ and 84$ 84 and the 200-day moving average .Support in the current range could raise the price to $ 80.
On the other hand, if Bitcoin fails to maintain its $ 8500 support, we will have the price cut to $ 46 in the first step and $ 35 in the next step.