LTC/USD closed at 259.830 after putting a excessive of 263.067 and a low of 243.842. After declining constantly for 9 consecutive classes, Litecoin posted the second day of good points on Tuesday. The current spike doubtless adopted the upward momentum in Bitcoin costs. BITCOIN remained on a optimistic observe for the second day available in the market amid a stockpile of optimistic information.

First, one other U.S. financial institution – Bancorp, the fifth-largest within the nation, introduced to supply Bitcoin and different cryptocurrency publicity to its clients on elevated demand from them. Second, Mastercard and Gemini additionally introduced a brand new reward system for bank cards which can be anticipated to pay cashback to its customers in Bitcoin by nearly 3%. Third, the corporate owned by billionaire Elon Musk, Tesla, reported document income on account of gross sales of emissions credit and speculative good points on Bitcoin. The rising costs of Bitcoin modified the market temper to bullish, and different altcoins like LTC/USD additionally adopted it and elevated their good points.

Moreover, Litecoin founder Charlie Lee spoke on CNBC and defined the distinction between Litecoin and Bitcoin. He repeated his earlier feedback on it being cheaper and sooner. Nonetheless, the truth that CNBC allowed Lee to advertise his mission to a mainstream viewers additionally helped LTC/USD commerce on a optimistic observe on Tuesday.

Litecoin - LTC/USD Chart

LTC/USD Each day Technical ranges

Help resistance
251.551 263.927
243.300 268.052
239.175 276.303
Pivot Level: 255.676

The LTC/USD pair is buying and selling at 251 degree, taking a bearish flip under a powerful resistance space of 263. On the decrease facet, the pair has closed a capturing star candle that’s suggesting odds of bearish pattern continuation. On the decrease facet, LTC can acquire help round 230 and 212 ranges. The MACD worth is holding above 0 ranges, however the current histograms counsel bearish bias within the pair. On the identical time, the pair can also be crossing below 50 EMA on a 4-hour chart. Let’s take into account taking a promote commerce under 262 degree in the present day. Good luck!

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