Fractal Bitcoin Surges in Mining Rankings! See How It’s Outperforming Litecoin!

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Sep 24 2024

LTC+6.139%

BTC+4.62%

FB-2.16%

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Fractal Bitcoin's Mining Success: Fractal Bitcoin has achieved significant profitability in the mining sector, ranking fourth in f2pool’s earnings and surpassing major cryptocurrencies like Litecoin, thanks to its merged mining strategy that allows simultaneous transaction processing on two networks.
Economic Relief for Miners: The implementation of merged mining between Bitcoin and Fractal Bitcoin has generated nearly one million dollars in revenue within 24 hours, providing a critical economic relief for miners amidst declining profitability in traditional Bitcoin mining.

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Technical Analysis for LTC

Technical Sentiment Analysis for Litecoin (LTC). As of , Litecoin (LTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for LTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, LTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Litecoin (LTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	30.007	37.539	45.927	53.459	61.847	69.379	77.767
Fibonacci	37.539	43.62	47.377	53.459	59.54	63.297	69.379

About LTC

Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology.To learn more about this project, check out our deep dive of Litecoin.The cryptocurrency was created based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.Litecoin was released via an open-source client on GitHub on Oct. 7, 2011, and the Litecoin Network went live five days later on Oct. 13, 2011. Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence.The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a 'lite version of Bitcoin,' in that it features many of the same properties as Bitcoin—albeit lighter in weight.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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