Litecoin Maintains Support at $89 Amid Layer-2 Launch
Litecoin (LTC) is maintaining crucial support at approximately $89 amid mixed fundamental and macro factors. Key points include:
- LTC tested lows near $88.92 before recovering, despite a bearish head-and-shoulders pattern.
- Volume support at $89 indicates buyer interest.
- The CD20 index of major cryptocurrencies decreased by about 1%, signaling reduced risk appetite due to geopolitical tensions and a weaker U.S. dollar.
- New tech upgrades are underway, with the launch of LitVM, a zero-knowledge Layer-2 network that supports EVM-compatible smart contracts and cross-chain swaps with Bitcoin and Cardano.
- These upgrades aim to enhance Litecoin's role in decentralized finance and improve security for blockchain bridges.
- Retail access is expanding as IG Group added LTC for crypto trading in the UK.