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Litecoin Is Rallying As It Returns To Its Previous High Of $80

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Litecoin Is Rallying As It Returns To Its Previous High Of $80

Jan 03, 2023 at 13:10 // Price

Litecoin (LTC) has regained its bullish momentum and breached the $72 barrier level. The cryptocurrency is expected to grow and return to its previous high of $80.

Litecoin price long term prediction: bullish 


On the plus side, if the cryptocurrency price breaks the $80 resistance level, the market will surge to a high of $91.52. Nonetheless, the bullish momentum will fade if the cryptocurrency enters the overbought zone. Litecoin will fall if the altcoin hits a high of $80 but fails to break the current high. The cryptocurrency will be forced to trade in a tight range between $60 and $80. At the time of writing, Litecoin has peaked at $75.81. 


Litecoin indicator analysis 


Litecoin has risen to the Relative Strength Index level of 62 for period 14. The altcoin is in an uptrend after breaking through the $72 level. Price bars above the moving average lines are expected to maintain the current positive momentum. Litecoin surges above the 75th level of the daily stochastic. The altcoin is currently in the overbought territory of the market. 


LTCUSD(Daily Chart) - January 3.23.jpg


Technical indicators 


Resistance Levels: $140, $180, $220 



Support Levels: $100, $60, $20 


What is the next step for Litecoin? 


Litecoin is gaining momentum as it breaks above the $72 resistance level. The cryptocurrency is currently trading in the overbought territory of the market. The market is experiencing bullish exhaustion while approaching the $80 high resistance zone.


LTCUSD(4 Hour Chart) - January 3.23.jpg


Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing in funds.


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BitPay Announces Partnership With MoonPay – Bitcoin Magazine

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Bitcoin And Artificial Intelligence Frees Your Time - Bitcoin Magazine


BitPay and MoonPay, leading bitcoin and cryptocurrency payments infrastructure providers, have partnered “to provide BitPay users with significantly increased ways to buy cryptocurrency instantly, and at great rates.”

“BitPay’s unique marketplace experience also presents multiple rates for buyers, ensuring they receive the best possible price for their cryptocurrency purchases,” the press release states. “Additional benefits of the integration include fast delivery to any owned wallet address, as well as the ability for buyers to pay with their preferred method, including credit card, debit card, Apple Pay, Google Pay or a variety of local bank transfer methods.”


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Why Real Regulatory Change In Crypto Has Not Happened

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Why Real Regulatory Change In Crypto Has Not Happened



Legislators need to educate themselves on Web3 if they care about protecting consumers, Steven Eisenhauer, chief risk and compliance officer at Ramp, writes.


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South Korea to deploy cryptocurrency tracking system in 2023

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South Korea to deploy cryptocurrency tracking system in 2023


The Ministry of Justice in South Korea announced plans to introduce a crypto-tracking system to counter money laundering initiatives and recover funds linked to criminal activities.

The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance, according to local media outlet khgames.

While the system is slated to be deployed in the first half of 2023, the South Korean ministry shared plans to develop an independent tracking and analysis system in the second half of the year. A rough translation of the ministry’s statement reads:

“In response to the sophistication of crime, we will improve the forensic infrastructure (infrastructure). We will build a criminal justice system that meets international standards (global standards).”

The South Korean police previously established an agreement with five local crypto exchanges to cooperate in criminal investigations and ultimately create a safe trading environment for crypto investors.

Related: South Korean prosecutors request arrest warrant for Bithumb owner: Report

The South Korean Supreme Court ruled that crypto exchange Bithumb must pay damages to investors over a 1.5-hour service outage on Nov. 12, 2017.

The finalized ruling from the supreme court ordered damages ranging from as little as $6 to around $6,400 be paid to the 132 investors involved.

“The burden or the cost of technological failures should be shouldered by the service operator, not [the] service users who pay commission for the service,” the court stated.


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