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Litecoin (LTC) Breaks Above $75 As Price Eyes $90; Here Are Levels To Watch

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  • LTC’s price shows strength as price bounces off from a weekly low of $50 to trend higher, giving bulls some relief. 
  • LTC’s price continues to look strong as bearish sentiment for the market lingers, with things looking uncertain for most traders and investors. 
  • LTC’s price rallies high on the daily timeframe as the price moves towards $90 above the 50 and 200 Exponential Moving Averages (EMA)

Litecoin (LTC) price has held strong above $60, showing good bullish signs of rallying to a high of $90-$100 if the market conditions remain favorable for prices. With many looking for a major dump in Bitcoin (BTC) price, the price of Bitcoin (BTC) bounced from $15,500 as price rallied to a high of $16,500, leaving bears on the sidelines as the price of Litecoin (LTC) gains more momentum to rally. The price action displayed by Litecoin (LTC) in recent times has been encouraging compared to many altcoins battling for survival. The Domino effect of the FTX saga and other huge investors involved has left the market at a standstill as the market is yet to make a major move after previous weeks. (Data from Binance)

Litecoin (LTC) Price Analysis On The Weekly Chart

The past few days haven’t been the best of times for most crypto traders and investors, with many becoming worried as to where the market could be headed after so much turbulence in the crypto space as many altcoins have struggled to show strength, losing their key support in a bid to survive. 

The current uncertainty surrounding the market has resulted in reluctance on the part of traders and investors to make altcoin purchases, as there is no assurance if they would be heading up any time soon.

The price of LTC has been a standout performer of the market as prices continue to show immersed strength holding up well above $60 despite the persistent FUD (fear of uncertainty and doubt). LTC saw its price traded in a region of $60 on the weekly chart, but the price bounced from this region to a rally high of $80, showing some great strength. The price of LTC faced resistance to trade higher to a region of $90-$100. LTC price needs to break above $80 for more signs of a rally. 

Weekly resistance for the price of LTC – $80.

Weekly support for the price of LTC – $60.

Price Analysis Of LTC On The Daily (1D) Chart

Daily LTC Price Chart | Source: LTCUSDT On Tradingview.com

The price of LTC remains considerably strong in the daily timeframe as the price trades above $70 support after breaking up nicely from its daily range movement showing some great price action to trend higher to a region of $80. 

If the price of LTC breaks and holds above $80, we could see more rallies for the LTC price to a region of $90-$100; a break below a region of $70 would send the price back to a region of $60.  

Daily resistance for the LTC price – $80.

Daily support for the LTC price – $75-$70.

Featured Image From zipmex, Charts From Tradingview 

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Crypto

NFT Steez and Victor Solomon chat about building in Web3 and the Metaverse

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On Dec. 2, NFT Steez hosts Alyssa Expósito and Ray Salmond chatted with Victor Solomon to discuss his journey into bridging his in-real-life artwork into NFTs and how he cultivates the community and culture that surrounds it. 

Solomon’s work centers around basketball, not just the object, but the sport itself. For Solomon, the inspiration for his work comes from his early childhood of wanting to play hockey, a sport that was not accessible for him, and his eventual discovery of basketball which he discovered to be more accommodating.

Solomon said:

“Basketball was such an inspirational platform for me since there’s no barrier to entry.”

Solomon says that the open nature of basketball is an “incredible parallel for everything that’s happening in Web3” and throughout the episode he explains the symbiotic relationship he has experienced in building out VesselVerse, the basketball of the Metaverse.

Bridging the gap between real life and digital spaces

When asked about the liberating elements of creating and iterating in Web3, Solomon drew attention to the “invigorating” nature of being able to create things that cannot exist in real life, like a “planet inside a hollow basketball,” but also the process of taking the physical elements into digital renderings and composites. 

For Solomon, building a collection and a community to rally around it was second nature. His extensive experience in the traditional art world gave him the same insight and structure on how he releases digital collectibles.

Drawing inspiration from other NFT projects like Nouns, Solomon’s digital collection, VesselVerse operates similarly to his real life pieces, except one “vessel,” or basketball is auctioned off every hour.

Contrary to physical installations or show pieces in a gallery, Solomon noted that creating within Web3 offers participants and collectors a broader and larger say in the direction of the work rather than a one-off experience.

Related: Comic-Con guru explains why storytelling is the key component for successful NFT projects

Unlocking collaboration within a community

When it comes to Web3 and the Metaverse, a core tenet in a successful project or ecosystem is the community surrounding it and building alongside it. Solomon described how “exciting it is to be able to work shoulder to shoulder alongside a growing community,” where diverse collectors enable an “open forum to constantly visit, discuss and consider the direction of the project.”

Rather than shying away from opening up considerations to the community, Solomon embraces the more decentralized aspects of building and unlocking community in Web3. Solomon said:

“What attracts me as a founder is unlocking that opportunity for everyone to be able to have a voice.”

For Solomon, the juxtaposition of Web2 and Web3 has highlighted what he considers a “massive unlock.” As he describes, the collaborative nature and “community spirit” has not been something he has been able to experience in his physical work and is “energizing.”

The biggest challenge Solomon currently faces is re-educating a segment of the ecosystem that may have had bad experiences in the crypto and NFT market. Nonetheless, Solomon suggests that the adversity is worth enduring since the promise of Web3 is much bigger than any particular negative experience.

To hear more from the conversation, tune in and listen to the full episode of NFT Steez and make sure to mark your calendar for the next episode on Dec. 16 at 12 pm ET.