Litecoin Network Upgrade Boosts Price, But Bears Take Charge Soon

• Litecoin released a network upgrade to improve its network security and fix critical issues.
• LTC price spiked and upgrade encouraged miners, but then it recorded a 7% drop in 24 hours.
• The coin’s current chart indicators suggest bearish runs in the coming days.

Litecoin Network Upgrade

One of the ways to increase investors’ interest in crypto is network improvement. Developers of cryptocurrencies usually come up with improvement proposals to make the network efficient, accommodating the needs of the users and fixing issues hindering seamless transactions. In a recent development, Litecoin released a network upgrade to improve its network security and fix critical issues affecting nodes. The Litecoin Foundation announced the update named Litecoin Core on March 2 and shared the information on Twitter.

Price Spike And Upgrade Encouraged Miners

At press time, LTC trades at $89, indicating a slight loss in 24 hours. But its trading volume is down by 48.42%, indicating slow activities with the coin. Notably, the Litecoin Core increased the growth of LTC mining. Coinwarz’s data shows that the network hashrate recorded a slight uptick, suggesting new miners rushed in

Miners May Lose Interest Following Price Drop

However, LTC once recorded a price drop of 7% in 24 hours, scaring investors. Also, its daily chart indicates the presence of bears pushing the price lower than expected . LTC’s Relative Strength Index (RSI) was headed below neutral mark also there’s downtick on Chaikin Money Flow (CMF). Furthermore ,the price touched lower part of Bollinger Bands which indicate high volatility area ,and MACD also indicates bearish move in market


The upgrade appears insufficient to keep miners’ interest high given that there is still risk associated with investing into litecoins . It remains to be seen whether or not more upgrades will be able to encourage more miners despite this dip .


This article is not financial advice nor an investment recommendation for any cryptocurrency products mentioned herein . It should not be considered legal or financial advice . Please consult with an attorney or other professional advisor about your specific situation prior engaging into any transaction related to cryptocurrencies .