Litecoin Network Bug Causes Transaction Disruption
- Network Vulnerability Impact: A bug in Litecoin's MimbleWimble Extension Block (MWEB) execution allowed outdated mining nodes to process invalid transactions, leading to parts of the network accepting fraudulent transactions, with LTC price dipping slightly to $56 over the last 24 hours despite minor damage.
- Chain Reorganization Event: The Litecoin team reported a 13-block reorganization that rolled back the affected chain segment and removed all invalid transactions, ensuring that all legitimate transactions remained intact, indicating that the network has stabilized after the anomaly.
- 51% Attack Controversy: Analysts noted that the block generation time during the reorg significantly extended to an average of 13.5 minutes, far exceeding the expected 2.5 minutes, raising concerns about a potential 51% attack, although the Litecoin team suggested it was a bug-triggered anomaly rather than a successful chain takeover.
- Security Model Discussion: A validator from the XRP Ledger criticized Litecoin's Proof of Work (PoW) model, arguing that its security relies on miners' willingness to spend, while emphasizing that XRP's consensus algorithm provides absolute finality, ensuring block security is unaffected by asset value fluctuations.
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Technical Analysis for LTC
Technical Sentiment Analysis for Litecoin (LTC). As of , Litecoin (LTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 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 | 51.217 | 52.563 | 54.107 | 55.453 | 56.997 | 58.343 | 59.887 |
| Fibonacci | 52.563 | 53.667 | 54.349 | 55.453 | 56.557 | 57.239 | 58.343 |
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