Can Litecoin’s [LTC] long-awaited MWEB update shine a light to end this darkness

ambcrypto.com:

On 19 May, Litecoin finally launched its new MimbleWimble (MWEB) upgrade after years of development. The upgrade, which was completed at the Litecoin block height of two million, promised that privacy will be guaranteed as users complete transactions on the Litecoin Network.

While it is trite that native tokens barely exhibit any positive reaction to news of their networks’ upgrade, the bloodbath that plagued the cryptocurrency markets in the last few weeks have made it even more difficult for positive movement in the LTC token even in the face of the much-anticipated upgrade.

Prior to the upgrade, the price of the Network’s native token, LTC, was ailing. However, the coin appears to be making a recovery two days after the implementation of the long-awaited MWEB upgrade. 

Following several weeks of recording losses, the MWEB upgrade to Litecoin’s Network came with good tidings for the HODLers of the LTC token. After a decline of 83.23% from its ATH of $412.96, the token appears to be positioned for a slow recovery with the MWEB upgrade.

Standing at $69.29 at the time of writing, the token, since the MWEB upgrade rallied up by 2% from its initial position of $67 on 19 May. 

Source: CoinMarketCap

Further to this, a look at movements of the price charts suggested a bullish divergence. At the time of writing, the MACD line intersected the trend line in an upward direction. This generally is indicative of increased selling pressure; a precursor to a bullish run. It appears that following the upgrade, investors took to accumulating the coin to drive up its price.

Source: TradingView

A consideration of the market capitalization for the token revealed similar growth. At $4.77 billion on 19 May, which was the day of launch, the market