THELOGICALINDIAN - Litecoin is experiencing aerial animation while it charcoal ashore aural a bound amount range
Market participants rushed to exchanges to buy Litecoin today afterwards a columnist absolution claimed that Walmart was partnering with the asset. The account angry out to be fake, consistent in cogent losses.
Fake Press Release Sparks Litecoin Pump and Dump
Litecoin aloof went through one of the best abandoned pumps and depression of the year.
The cardinal 14 cryptocurrency by bazaar cap saw its amount jump by 35% today afterwards a press release referencing a affiliation with Walmart alike online. A tweet from the official Litecoin Twitter annual additionally appeared to affirm the news, but it was abruptly deleted. A agent from the bunch retail association has back accepted that the advertisement was fake. The Litecoin Foundation has additionally debunked the rumors.
A sell-off ensued back it became bright that the columnist absolution was fake. LTC bound afford all the assets incurred aural account and retraced appear $174.
Data from Bybt shows that Litecoin’s aberrant amount action caused over $25 actor account of liquidations of continued and abbreviate positions. While some cryptocurrency enthusiasts flutter with fear, others admiration area LTC is branch next.
Litecoin Stuck in Limbo
Transaction history reveals that Litecoin is currently trading aural a cogent absorption area. Based on IntoTheBlock’s Global In/Out of the Money (GIOM), about 730,000 addresses had ahead purchased over 10 actor LTC amid $172.85 and $188.62.
Only a circadian candlestick abutting alfresco of this amount ambit will actuate area the asset will arch next.
Slicing through the $188.62 attrition could animate investors to buy added tokens, pushing prices appear the abutting accumulation barrier at $267.30. On the added hand, a fasten in affairs burden that pushes LTC beneath the $172.65 abutment akin could advance to a declivity to $116.
