• Litecoin hits transaction and hash rate milestones, but investors are still sitting on the sidelines.
• LTC was stuck in limbo as demand slowed down amid weak sell pressure.

Litecoin [LTC] concluded an interesting week during which it managed two major milestones. On 27 January, the network announced that it had facilitated slightly over 142 million transactions.

The Litecoin network just processed its 142 millionth transaction! pic.twitter.com/wyZQe4w08L

— Litecoin (@litecoin) January 27, 2023

Read Litecoin’s [LTC] Price Prediction 2023-24

The 142 million transaction milestone came just 24 hours after a previous milestone about its hash rate. Litecoin’s hash rate peaked at 742.30 TH/S earlier in the week. This means it received a network strength and security boost. The transaction milestone confirms that the network is still enjoying steady growth.

These milestones currently confirm that the Litecoin network is in a healthy state, especially with the upcoming halving. These signs may also support LTC’s value and perhaps support a higher price level. Speaking of price, Litecoin delivered an overall bullish performance in January. However, it encountered resistance near the $90 price level.

LTC traded at $88 at press time and has been trading within the same range for the last few days. This confirmed that not much sell pressure was forthcoming. As a result, the price was stuck within a narrow range.

Can Litecoin overcome the current resistance level?

The recent...

source: https://ambcrypto.com/litecoin-fails-to-overcome-key-resistance-level-despite-hitting-new-milestones/