Litecoin (LTC/USD) once again sees a possible breakout of a key resistance zone at $64. After initially testing the $47 low two days ago, the price surged strongly to this key level. The bulls are now being tested at this key level as the bears are also gaining ground. 
This is 11 years Litecoin birthday. Its developers celebrated the blockchain, which was forked from Bitcoin to address the shortcomings of the latter. More than a decade later, Litecoin has remained resilient, although price dynamics tend to hurt it. The Litecoin Foundation says the blockchain has processed more than 33 million transactions so far without any challenges.
With the formation of digital currency, LTC will play a central role. The team behind the blockchain says that over 45 million new LTC addresses have been created in the past 11 months. This figure is roughly equal to 28% of lifetime LTC addresses. Likewise, Litecoin’s mining difficulty reached a new milestone with a hashrate of just under 18 million. Difficulty means miners are competing fiercely for mining rewards.
Buyers will really be praying that LTC clears $64 in it positive developments . From the price action, there may be two possibilities.
LTC corrected slightly below $64 resistance
Source – TradingView
Price Action Indicators show a mixed outlook for LTC. On the one hand, rising prices and a recovery from an RSI reading of 39 suggest an underlying bullish market.
Conversely, LTC has slowed since hitting resistance at $64. The breakout is far from confirmed, so we should still maintain our bearish bias. When should I buy Litecoin?
A break above the $64 resistance will make LTC price Attractive to buyers. Resistance is a key area that has held LTC since June. Therefore, a breakout could welcome a huge move for the cryptocurrency.
If the breakout fails, LTC could continue lower, with the next potential bottom at $50 . Investors should be aware of both these situations before buying.
Where to buy LTC
eToro
eToro is a global social investment brokerage that offers more than 75 cryptocurrencies to invest in. It offers commission-free crypto trading, and users on the platform can choose between manual or social investing. eToro even has a unique CopyTrader system that allows users to automatically copy trades from popular investors.
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Capital Network
Capital. com is a global broker that offers over 200 cryptocurrencies to its users. It comes with a range of features such as; excellent security, 24/7 support, demo account and various assets. Best of all, it also has no inactivity, withdrawal or deposit fees, which sets it apart from other crypto brands.
Buy LTC now at Capital.com
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eToro
eToro is a global social investment brokerage that offers more than 75 cryptocurrencies to invest in. It offers commission-free crypto trading, and users on the platform can choose between manual or social investing. eToro even has a unique CopyTrader system that allows users to automatically copy trades from popular investors.
Buy Now via eToro LTC
Capital Network
Capital. com is a global broker that offers over 200 cryptocurrencies to its users. It comes with a range of features such as; excellent security, 24/7 support, demo account and various assets. Best of all, it also has no inactivity, withdrawal or deposit fees, which sets it apart from other crypto brands.
Buy LTC now at Capital.com
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