LTCUSD (Litecoin) – Week 12 – $250 in sight
The Litecoin Foundation has finished the coding for its MimbleWimble Extension Block (MWEB), which will improve the cryptocurrency's scaling and safety. According to lead Litecoin developer David Burkett, MWEB is now "code complete" after more than a year of growth. He went on to state that the code is now eligible for systematic auditing by other programmers. However, based on the number of corrections, this phase may take anything from a few weeks to a few months. The technology will be merged into Litecoin's key codebase until it has been finalized. After that, node operators and miners would be able to signal approval for it.
We currently have two working scenarios for Litecoin on the chart. One, after the completion of the consolidation it will make a second leg down that will reach the blue trendline marked on the chart before shooting to the upside and two, it will go to the upside right now with small consolidation in between.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
We currently have two working scenarios for Litecoin on the chart. One, after the completion of the consolidation it will make a second leg down that will reach the blue trendline marked on the chart before shooting to the upside and two, it will go to the upside right now with small consolidation in between.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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