![]() It's estimated that the block generation time on the Litecoin network is around 2.5 minutes, compared to 10 minutes for Bitcoin. This crypto network has been shown to process transactions approximately four times faster than Bitcoin ( CRYPTO:BTC). While not necessarily the fastest digital currency among the mega-cap cryptocurrency networks, Litecoin remains a great option for those looking to transfer significant sums of money. In the stated case, the price could rise towards the $300 barrier in the near term.In the case of Litecoin, this crypto network earns gold stars. A close above the $265 and $275 levels could open the doors for a decent increase. An immediate resistance is near the $265 level. The next key support is near the $220 level, below which the price could slide towards the $200 level. If there is a downside break the $246 support and the trend line, the price could revisit $225. It is close to the 50% Fib retracement level of the upward move from the $191 swing low to $302 high. The first key support is near the $246 level. On the downside, an immediate support is near the $250 level. The price declined below the 23.6% Fib retracement level of the upward move from the $191 swing low to $302 high. There was a break below the $280 support level. A high was formed near $302 and the price started a downside correction. Finally, there was a clear move above the $270 level. The price was able to clear the $240 resistance zone and the 55 simple moving average (4-hours). There was a steady increase above the $220 resistance. Earlier, LTC formed a base above the $200 level to start a major increase. This week, there was a fresh increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. ![]() LTC price could continue higher if it clears $270 and $280. Litecoin price is climbing higher above $240 against the US Dollar, similar to bitcoin.
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