Market participants expect the RBNZ Official Cash Rate to remain unchanged at 1.75% [Video]
|It's Wednesday, November 8th, I'm Kiana Danial, CEO of Invest Diva with NewsBTC and here is your crypotocurrency update. Litecoin rallied against major counterparts including the USD, EUR, and Bitcoin on Tuesday, one week after South Korean Exchange added Litecoin to its platform. LTC/BTC bottomed out at the key support level of 0.007, continuing rallies after forming a morning star bullish reversal chart pattern. The next key resistance for the pair is set at a previous support level of 0.01. For this pair, the future cloud remains downward. LTC/USD reached our profit target and pivot level of 63.05 while remaining inside the daily Ichimoku cloud. For this pair, the cloud remains flat, so we could expect further range trading opportunity. The supporting pivot for the range is set at 50.99. Long-term support levels are set at 40.09 and 24. 36 respectively. LTC/EUR has formed a similar pattern as that of LTC/USD. Litecoin is the fifth biggest digital currency. Its adoption by the South Korean exchange, Coinone, could be one of the reasons why we saw the massive rally on Tuesday. The exchange has reportedly processed $3.2 million worth of Litecoin in the first 24 hours of trading the cryptocurrency. Thanks for watching, invest responsibly, and I'll see you with more updates tomorrow.
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