Litecoin
clings to key technical support around $ 89 as a mixture of fundamental developments and Macro shape its short -term perspectives, according to the Technical Analysis Data model of Coindesk Research.
The cryptocurrency exchanged in a tight fork in the last 24 hours, testing stockings nearly $ 88.92 before recovering. Despite the formation of a downward head and shoulder scheme, the volume support at $ 89 suggests that buyers intervene.
This stability comes in the middle of a broader uncertainty of the market. The CD20 index of the main cryptocurrencies has dropped by around 1% over the same period, reflecting reduced risk appetite as geopolitical tensions and weakening the dollar change capital to hard assets like gold.
However, Litecoin notes new technological upgrades and an increase in interest.
Lunar Digital Assets recently launched Litvm, a layer 2 network with zero knowledge for Litecoin. Built on Polygon Bitcoinos and CDK, the system introduces EVM compatible intelligent contracts and allows crossed exchanges with Bitcoin
and Cardano.
These features aim to stimulate the role of Litecoin in decentralized finance while approaching the long -standing security risks around blockchain bridges.
Litecoin also continues to see increasing access to detail. IG Group added LTC among various other tokens when he launched Crypto Trading in the United Kingdom. Its impact, given the cryptocurrency scale, is probably limited if necessary.
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