Litecoin Price Analysis: LTC / USD finds support for $ 55.00 as Coinbase Pro adds LTC / GBP support

  • Litecoin is marginally above $ 55.00.
  • Coinbase Pro customers will be able to trade LTC against GBP.

Litecoin is changing hands at $ 55.15 after Wednesday's crash, caused by Goldman's decision to delay the creation of cryptocurrency desk trading. The currency has lost over 18% in the last 24 hours; however, the downward momentum vanished to $ 54.00. Technically, TC / USD is ready for recovery from oversold territory, but the market needs a trigger to start squeezing shorts.

Litecoin obtains 7th place in the cryptocurrency rating with market value $ 3.2B and average daily trading volume $ 422 million

Meanwhile, the exchange of cryptocurrency Coinbase Pro has announced support for trading LTC, ETC, ETH against GBP. According to David Farmer, General Manager of the exchange, the new tools will be available Friday, September 7th.

From the official press release:

"With support for UK domestic bank transfers in GBP through the fastest payment scheme, it is now much simpler, faster and cheaper for Kingdom customers. United to exchange cryptocurrencies on the Coinbase platform: Coinbase Pro is the only digital currency trading platform that supports the fastest payments in the UK and it is our goal to be the preferred trading platform for UK encryption traders. of the launch of new trading pairs, all UK customers now have access to send GBP to their Coinbase accounts via national bank transfer. "

Litecoin Technical Framework

Short-term LTC / USD is supported by $ 55.00. Once this area has been cleared, the downside could be extended to $ 50.00 psychological followed by $ 46.36 (August 14th low). On the upside, a sustainable move above $ 60.00 will pave the way to $ 63.35 (SMA200, 1 hour), followed by $ 63.86 (SMA50, 1 hour).

LTC / USD, 1 hour chart

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