Litecoin price analysis: LTC / USD remains above $ 55.00, but the upside could be limited

  • LTC / USD is gaining ground in tune with other altcoins.
  • Litecoin can now be purchased from the official project website.

Litecoin is changing hands at $ 55.52, above the first Asian peak reached at $ 56.55. The currency has gained 1.9% in the last 24 hours and lost 1% of its value from the beginning of Wednesday. The market capitalization of the seventh largest currency was $ 3.2 billion, while average daily trading volumes reached $ 380 million.

Litecoin can be purchased from … Litecoin

The cryptocurrency's main website now has a feature that allows users to buy money. The service is provided by Simplex which will perform the KYC and AML procedures and will process the transactions. Users will be able to purchase cryptocurrency with their debit or credit card for USD, GBP and EUR for an amount equivalent to $ 50 – $ 20,000.

The developers promise that the process will take no more than five minutes, while the coins will be credited to the user's portfolio within 24 hours.

Technical framework of Litecoin

In the ranking, LTC / USD has a limit of $ 54.30 – the congestion zone that previously served as a resistance and SMA50 1 hour. Once eliminated, the sell-off can be extended to $ 53.00 handle, followed by $ 52.60 (the short-term uptrend line).

The upside could be limited by the Asian maximum to $ 56.55, as traders will seek to close speculative positions on the approach to strong resistance. However, if it is broken. we can witness Litecoin's growth towards $ 58.00 and $ 60.00.

LTC / USD, 4-hour chart

Get the 5 most predictable currency pairs

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