Connect with us

Litecoin

Litecoin launches off-ramp payments with VISA, LTC indicates bullish sign

Published

on

  • The newly introduced Litecoin Card allows users to make payments anywhere where VISA is accepted.
  • LTC has dropped in the day, following the wider market downtrend but analysis shows positive movements ahead.

Litecoin (LTC) has marked a new developmental milestone with the introduction of ‘Litecoin Card’ through a partnership with Visa. The card is useful for making instant off-ramp payments, which convert one’s Litecoin holdings to fiat on the receiver’s end.

As Litecoin noted on its official Twitter page:

Litecoin is accepted anywhere VISA is.

The Litecoin Card was also developed in partnership with fintech firm Unbanked, to enable users to make real-time payments with LTC.

Simply put, the card allows purchases with LTC, in a similar manner to Visa debit and credit cards. The news increases the altcoin’s utility and subsequently its fundamental value. It also comes after AMC Theatres announced that it will be accepting LTC as a form of payment.

Advertisement

Litecoin Network events

Introduced by Charlie Lee in 2011, Litecoin was developed as a more scalable Bitcoin offshoot. The altcoin boasts of having a block generation that is four times faster than Bitcoin’s. LTC is now the 14th largest cryptocurrency with a $17 billion market cap. The Litecoin Foundation, non-profit backing LTC development, recently celebrated the coin’s 10th anniversary. Notable achievements include processing hundreds of billions of dollars worth of transactions, 100 percent network uptime, and low transaction costs.

Additionally, the network completed the code for the MimbleWimble-Extension Block (MWEB) earlier this year. MWEB is a major network upgrade aimed at improving transaction privacy and fungibility to the blockchain. The update is currently on a multi-month review by security services and software company Quarkslab. On top of that, LTC recently dived into non-fungible tokens (NFTs) with the introduction of OmniLite. Investment giant Grayscale also made its LTC Trust an SEC-reporting company in preparation for its conversion to a Litecoin ETF.

But even then, the altcoin has not been completely immune to the sagas of the crypto world. In September, the Litecoin Foundation owned up for its part in spreading a fake press release announcing the beginning of LTC payments at Walmart. The news caused a 34 percent hike in the price of LTC, only to be retracted shortly afterward when the PR has branded a hoax.

Advertisement

LTC price projections

Presently, developments in the blockchain alongside technical analysis indicate a likely notable uptrend for LTC. At press time, our data shows LTC was trading at $245, down 10.8 percent in the day due to the wider market’s 24-hour downtrend. The coin has been consolidating between $210-$233 for a week now and is likely to drop lower before recuperating. At this point, the altcoin would be looking at a 20 percent hike to Monday’s high of $281. However, falling below the $210 would invalidate this bullish signs.

News Source

Advertisement

Litecoin

Litecoin Weekly Forecast December 6 — 10, 2021

Published

on

Litecoin LTC/USD ends the trading week at 195.56 and continues to move within the correction and the bullish channel. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines again. This indicates pressure from buyers of the digital asset and a potential continuation of the decline in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a price decline and a test of the support area near the level of 180.55. Where can we expect a rebound again and an attempt to raise the value of Litecoin with a potential target above the level of 335.05.

Litecoin Weekly Forecast December 6 — 10, 2021

An additional signal in favor of raising the LTC/USD quotes in the current trading week December 6 — 10, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the Litecoin digital asset will be a fall in price and a breakdown of the 135.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 85.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 235.05.

Litecoin Weekly Forecast December 6 — 10, 2021

Litecoin Weekly Forecast December 6 — 10, 2021 implies an attempt to test the support area near the 180.55 level. Then, continued growth to the area above the level of 335.05. An additional signal in favor of an increase in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 135.05 area. This will indicate a continued decline in cryptocurrency with a target below 85.05.

News Source

Advertisement
Continue Reading

Litecoin

Litecoin Forecast and Analysis December 3, 2021

Published

on

LTC/USD are traded at the level of 204.06 and continue to move within the correction and the downward channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $14,068,777,013. Moving averages indicate a short-term sideways trend in Litecoin. Prices went down from the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the area of ​​185.05. Where can we expect a rebound upward again and a continuation of the rise in the Litecoin rate with a potential target above the level of 255.05.

Litecoin Forecast and Analysis December 3, 2021

An additional signal in favor of raising the LTC/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the Head and Shoulders reversal pattern. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 175.05 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 135.05. With the breakdown of the resistance area and closing of quotations above the level of 225.05, we should expect confirmation of the development of the bullish trend in Litecoin and the beginning of the development of the “Head and Shoulders” reversal pattern.

Litecoin Forecast and Analysis December 3, 2021

Litecoin Forecast and Analysis December 3, 2021 suggests an attempt to correct and test the support area near the level of 185.05. Where can we expect a rebound and continued growth in the LTC/USD price to the area above the level of 255.05. An additional signal in favor of an increase in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 175.05 area. This will indicate a continued fall in the cryptocurrency with a target below 135.05.

News Source

Advertisement
Continue Reading

Litecoin

Litecoin price must hold critical support to avoid crash to $100

Published

on

  • Litecoin price action is precarious as it flirts with final support zones that would threaten a deep sell-off.
  • $180 represents the most vital area of support for Litecoin, which it must hold.
  • Recent whipsaws in Litecoin’s movement make upside potential difficult.

Litecoin price shows significant weakness on its daily chart, with the current support at $200 showing signs of failure.

Litecoin price could retest its final and most substantial level of support at $180

Litecoin price is currently trading against some strong support at the $200 level, though the support is unlikely to hold and more downside is expected. $200 is not just an important and natural psychological number, but it is also the 50% Fibonacci retracement. The daily Tenkan-Sen (blue moving average) is just above the $200 level at $205.

While those levels all indicate a collection of strong near-term support, the position of the Chikou Span and the Cloud warn that $200 may not hold. The Cloud up ahead shifts, abruptly, much higher over the next two trade days.

Additionally, by Sunday (December 5th), if Litecoin is still trading in the same value area, the Chikou Span will slide below the candlesticks, and Litecoin price will shift below the Cloud. Consolidation: here is not a supportive condition but rather a bearish warning sign.

Advertisement

$180 is the strongest and final support zone for Litecoin price. The 38.2% Fibonacci retracement and 2021 Volume Point Of Control all reside within the $180 level. Failure to hold $180 could trigger a move to retest the June 2021 lows at the $100 value area.

LTC/USD Daily Ichimoku Chart

Litecoin price must close above the daily Kijun-Sen and Cloud at the $240 value area to invalidate any near-term bearish expectations. Traders should look for any major bullish spike that would result from the daily candlesticks respecting Senkou Span A (top of the Cloud) as support. Sharp and fast moves higher on Saturday and Sunday would be expected in that event. 

News Source

Advertisement
Continue Reading