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. run continues in its final impulse . 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 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.***
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. The Litecoin network went live on October 13, 2011. 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.
During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.
Litecoin reached a $1 billion market capitalization in November 2013. By late November 2017, its market capitalization was US$4,600,081,733 ($85.18 per coin). 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. 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.
In February 2018, one of the major EU online retailer Alza began accepting Litecoin as a payment method.