The crypto space is building up the pace. While the whole crypto market is showing mixed signals, there are few major cryptocurrencies with significant growth. Litecoin (LTC) is leading in terms of gains among the top 10 cryptocurrencies. However, Monero is also following the bullish trend with 4% growth among the top 20 crypto market.
Litecoin has recovered from its recent losses. On Tuesday, the coin was caught in the loop between the resistance level at $137 and support level at $134.8. The major drop occurred at 14:50 UTC and the price suffered a 2.99% loss. The trading value dropped from $136.7 to $128.36.
Today, LTC coin price gained back momentum and hit $139.76. Litecoin price has increased by 4.69% against the USD and trading at $137.12 USD. In terms of LTC/BTC, the price spiked up by 4.56% with trading value 0.01496901 BTC.
Currently, the LTC coin is ranking in 4th position, holding market cap $8,541,500,856 USD with $3,938,230,186 24 hour volume and 62,291,150 LTC circulating supply.
The price is ready to move above the first daily resistance level. While Most moving averages are signalling for buyers, the technical indicators are not that green. According to 1-day chart, LTC/USD is trading in a range with a bullish trend. While the recovery has been wrapped up on the approach to $140.0. The coin maintains an uptrend potential as long as the price stays above $130.00 handle. Later, the bearish momentum might hit the bulls taking the price to $123.50.
- The Chaikin Money Flow indicates the Bullish Trend, continuous Buying Pressure, rising prices coinciding with CMF values above 0.
- The Bollinger Band is showing converging volatility in the market.
- The Awesome Oscillator showed a bullish buying opportunity or short-term momentum in the market.
- The Relative Strength indicator has turned bullish on the one-hour time frame which is above 50 levels.
- The MACD indicator has turned bullish on the one-hour time frame and continues to issue a buy signal.
- The Parabolic SAR markers were below the candles and showcased a bearish market.
Reason behind bullish trend:
Litecoin Foundation Launches Crypto Debit Card:
On june 18th, litecoin Foundation announced to partner with Bibox Exchange and Ternio to release a special edition Litecoin debit card. According to the blog post, this Debit Card will enable users to spend crypto online or in physical stores anywhere that major credit cards are accepted.
Founder of Litecoin Charlie Lee stated;
“This is an exciting partnership for us as it furthers the Litecoin Foundation’s mission to create more use cases for spending Litecoin in everyday life. Leveraging Ternio’s BlockCard platform with Bibox’s exchange engine gives Litecoin holders unparalleled access to use their LTC at merchants around the world.”
The platform also claim that, In the coming weeks, the Litecoin Foundation and Bibox Exchange will notify its US-based users on how to register for access to their card.
Apart from this, recently Founder of Tron – Justin sun announced charlie Lee as his first guest to join the fancy crypto lunch with warren Buffet.