Litecoin (LTC) price analysis: LTC/USD picks up the pace as Charlie Lee gets excited about Coinbase’s Toshi app adding LTC
|- “Coinbase's Toshi app is pretty cool, but I always thought it was missing something... Litecoin! Wrote Charlie Lee”
- LTC/USD supported at $130 and $125 zones respectively.
Litecoin slipped to briefly trade below $130 after rejecting the support level at $135. The cryptocurrency is battling to correct higher although it is still in danger of being engulfed in selling pressure. At the moment, LTC/USD is exchanging hands at $132.52, but the upside has been capped below $135 intraday trading on Friday.
Litecoin founder Charlie Lee is very excited that Coinbase’s Toshi app is adding more cryptocurrencies to the platform and LTC will be among the assets. He wrote on Twitter that “Coinbase's Toshi app is pretty cool, but I always thought it was missing something... Litecoin!” Further, the official blog post by Toshi wrote:
“We’ve heard you, and want to let you know that we’re working on adding support for other cryptocurrencies available on Coinbase — Bitcoin, Bitcoin Cash, and Litecoin — to Toshi! We don’t have an official release date yet, but will keep you posted as we get closer to launching support.”
Litecoin is yearning for a catalyst to support its momentum as it breaks the barriers towards $160. The gap between the moving averages is increasing signalling that the sellers have the upper hand. The RSI on the same chart is below the 50 mark and is pointing south. On the upside, $135 is the immediate resistance, while $140 will offer more resistance towards $150. A short-term support has been formed at $130, however, $125 will provide more support.
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