Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. The creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. The coin was inspired by and in technical details is almost identical to Bitcoin (BTC). Litecoin is a peer-to-peer Internet currency that allows instant, near-zero-cost payments to anyone in the world. Litecoin is a fully decentralized open-source global payment network with no central authority. Mathematics secures the network and allows individuals to control their finances. Litecoin offers faster transaction confirmation times and better storage efficiency than the leading math-based currency. With substantial industry support, trading volume and liquidity, Litecoin is a proven means of trading complementary to Bitcoin. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get original essay 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 mainly in a reduced block generation time (2.5 minutes), a larger maximum number of coins, a 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 that included a 100% jump in 24 hours. Litecoin reached a market capitalization of $1 billion in November 2013. As of the end of November 2017, its market capitalization was $4,600,081,733 ($85.18 per coin). By mid-December 2017, the coin's market capitalization 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 cryptocurrencies (by market capitalization) to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed via Litecoin, transferring 0.00000001 LTC from Zurich to San Francisco in less than a second. Litecoin is somewhat different from Bitcoin. The Litecoin network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes. The developers claim that this allows Litecoin to have faster transaction confirmation. Litecoin uses scrypt in its proof-of-work algorithm, a memory-hard sequential function that asymptotically requires more memory than an algorithm that is not memory-hard. Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for Litecoin mining are more complicated to create and more expensive to produce than Bitcoin, which uses SHA-256. The exponential rise of Bitcoin and other cryptocurrencies has attracted a number of new traders who have gone on a buying spree, mostly purchasing cryptocurrencies using credit cards. After the huge drop in 2018, the top 5 credit card companies have banned or announced a ban on cryptocurrency purchases via credit cards. As a result, late rally participants, who had purchased cryptocurrency using borrowed money and are enduring losses exceeding 50%, will now be forced to pare their positions. This will likely result in another round of panic selling, shaking weak hands. These lower levels will attract a new group of investors who believe in the technology and wait to invest at the right time. Let's identify these levelslower which can attract buyers. BTC/USD On February 2, Bitcoin saw some buying at the $8,000 levels. However, the pullback failed to reach our target target of $10,700 for short-term traders. We had expected a pullback to the 20-day EMA, but in a selling frenzy, the pullbacks lasted only 1-3 days. After a day of recovery, the cryptocurrency fell once again. Today the price fell below the low formed on February 2. If the bears manage to hold below $8,000 levels, the BTC/USD pair is likely to slide to $6,239, which is the model's target in case of a breakout of the descending triangle. Below this level, the fall could extend to the $6,239 level. $5,450 levels, which will effectively retrace 100% of the last leg of the rally. We believe that panic selling at the levels mentioned above offers a good buying opportunity for long-term investors. However, investors should expand positions instead of buying them all at once. We recommend purchasing approximately 30-40% of your desired allocation in the range between $5,500 and $5,800.ETH/USDIn our previous analysis, we expected some resistance at $1,025 levels. On February 3, Ethereum lost ground after reaching a high of $999. We also suggested long positions on a dip towards levels between $770 and $820 with a stop loss of $700. We still believe that the range between $770 and $785 is a strong support zone for the ETH/USD pair, however, if this support zone breaks, a slide to $640 is likely. The 78.6% retracement of the last leg of the rally is at $611.34 levels. We therefore expect strong buying in the area between $611.34 and $640. However, the 20-day EMA and 50-day EMA are likely to complete a bearish crossover, which is a negative development. We therefore do not recommend new trades.BCH/USD We expected Bitcoin Cash to move back to the downtrend line, but it collapsed from $1,316.07 levels. Today it fell below the $1,000 support. Now, it is likely to fall to the next critical support at $854.3135. We do not find any signs of bottoming on the BCH/USD pair unless the RSI is close to entering oversold territory. Despite this, we want to see some buying emerge before placing any trades on it. XRP/USD Ripple is also retesting the lows formed on February 2. Compared to other cryptocurrencies, it has not yet fallen below the February 2 low of $0.63252. This indicates a likely exhaustion of selling in the XRP/USD pair. Furthermore, $0.61 is the final support. After this period, we could see a further decline to the $0.24 levels. It will turn positive in the short term after breaking above the downtrend line. Until then, any pullbacks will likely be sold by the bears.XLM/USD Stellar failed to take advantage of the strong pullback on February 2nd. It has once again fallen below the support of $0.41 and is likely to test the critical support of $0.296 again. If this support breaks, the XLM/USD pair is likely to fall to the support line of the descending channel, which should offer strong support. If this level also breaks, a drop to $0.1 could occur. We recommend waiting for the trend to change from bottom to top before opening new positions.LTC/USD Litecoin's pullback was stronger than other cryptocurrencies as it reached near the 20-day EMA. This shows interest in buying at lower levels. If the bulls accumulate the price near levels between $107 and $120, it would indicate a.