POSSIBLE LITECOIN/USD (LTC) SCENARIOS OVER NEXT 24 HOURS
A) The channel support line breaks, in which case the price will drop and correct to a 61.8% fib retracement before continuing on its path. This coincides with a psychological-barrier price of $200.00.
B) The channel support line is NOT broken. Bullish run continues in its final impulse Elliot Wave. This would mean a nice, solid rally all the way up to $267.00 where previous resistance and channel resistance collide. If this will happen, it will happen somewhere around 7 PM PST on Feb. 14th. After this we should expect a correction ringing price back down to about $238.00 before beginning its new Elliot Wave Impulse Cycle which will in turn take it upwards past the $300 psych level. At which point we'll be seeing further impact from LitePay and LitecoinCash fork speculation.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
ABOUT LITECOIN
Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.
Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a former Google employee.[5] The Litecoin network went live on October 13, 2011.[6] It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.[7]
During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.[8]
Litecoin reached a $1 billion market capitalization in November 2013.[9] By late November 2017, its market capitalization was US$4,600,081,733 ($85.18 per coin).[10][11] By mid-December 2017, the coin's marketcap had reached US$20,000,000,000 and each litecoin was valued at approximately US$371.00.
In May 2017, Litecoin became the first of the top 5 (by market cap) cryptocurrencies to adopt Segregated Witness.[12] Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zürich to San Francisco in under one second.[13]
In February 2018, one of the major EU online retailer Alza began accepting Litecoin as a payment method.[14]