The cryptocurrency market has seen its fair share of ups and downs in the past few months, with some coins experiencing major price fluctuations while others have remained relatively stable. In this article, we’ll be focusing on three major players in the crypto market: Litecoin (LTC), Bitcoin Cash (BCH), and Snowfall Protocol (SNW). While Litecoin (LTC) has hit a key resistance at $72.50 and Bitcoin Cash (BCH) is facing the possibility of becoming legal tender by 2023, Snowfall Protocol (SNW) has been breaking records with its 195 million token sales.
Litecoin (LTC) price struggles at key resistance as the future trend remains unclear
Litecoin (LTC) has been on a rollercoaster ride in recent months, with its price fluctuating significantly. The Litecoin (LTC) price made an attempt at breaking out from the $72.50 resistance area on Dec. 26 but was rejected. This is a crucial area for the future trend of Litecoin (LTC), as the confluence of multiple resistance levels makes it difficult for the price to break through. Despite the Litecoin (LTC) price recovering since its June 2022 lows and currently trading 72% above them, the trend’s direction remains unclear. Litecoin’s (LTC) price has been following an ascending support line since June 10, which has been validated numerous times. However, after creating a bullish engulfing candlestick and moving above the $72.50 resistance area, Litecoin’s (LTC) price failed to sustain its upward movement and fell back below the resistance level. Thus, $72.50 area is expected to provide resistance once again, leaving the future projection of the Litecoin (LTC) price uncertain. If Litecoin’s (LTC) price can move above $72.50, it would indicate a bullish trend, but if it gets rejected, it could lead to a fall toward $57.
Volatility, limited acceptance, and security concerns surround Bitcoin Cash (BCH) legal tender debate
The Government of St. Kitts and Nevis recently announced that it will be exploring the possibility of declaring Bitcoin Cash (BCH) legal tender as part of its process of introducing cryptocurrencies into the country’s economy. While Prime Minister Terrance Drew acknowledged the potential benefits of adopting a cryptocurrency as a legal tender, such as the fact that many businesses on the island already accept Bitcoin Cash (BCH) as a payment method, he also emphasized the need for due diligence and considering all important aspects before making a final decision. While the idea of Bitcoin Cash (BCH) becoming a legal tender may seem appealing to some, it’s important to consider the potential drawbacks. One major disadvantage is the volatility of Bitcoin Cash (BCH). Its value can fluctuate significantly in a short period of time, which can make it risky for use as a legal tender. Additionally, Bitcoin Cash (BCH) is not widely accepted as a payment method, which could make it difficult for individuals and businesses to use it for everyday transactions. Finally, there are concerns about the security of Bitcoin Cash (BCH), as it has been the target of numerous hacks and scams in the past.
Snowfall Protocol (SNW) continues to thrive with record-breaking token sales and innovative NFT technology
Snowfall Protocol (SNW) is a multi-chain protocol that helps ensure the security of cross-chain transactions and the movement of assets between different blockchains. Its NFT cross-chain technology represents a major advancement in the cryptocurrency space, enabling greater accessibility and interoperability of NFTs across various blockchain networks. This allows NFTs to be traded between networks, increasing their liquidity and making them more accessible to investors. Since the beginning of its presale phases, the price of Snowfall Protocol (SNW) has risen by over 400%. Two successful presale campaigns have already been completed, and the third presale phase is almost finished. So far, Snowfall Protocol (SNW) has sold over 195 million tokens during its presale phases, and the sales show no signs of slowing down. The official Snowfall Protocol (SNW) launch is scheduled for January 2023, which implies further price surges could be on the horizon.
With such impressive token sales and innovative NFT technology, it’s no surprise that Snowfall Protocol (SNW) is making waves in the cryptocurrency market. The official launch of Snowfall Protocol (SNW) is scheduled for January 2023, and with more price surges expected, it’s definitely worth keeping an eye on this promising project. As for Litecoin (LTC) and Bitcoin Cash (BCH), they both face their challenges and uncertainties in the market.
get in while you can and invest in Snowfall Protocol (SNW) today!!!
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.