Litecoin price analysis: LTC/USD to get support on Coinbase's Shift Visa debit card a week after TenX announced future co-branded cards
|- The Shift Visa debit card will be used to spend will allow the users to spend their cryptocurrencies both online and offline.
- The 38.2% Fibo to provide stronger support, but indicators point to a growing bullish momentum.
Litecoin price attempts to recoil towards $160 were thwarted by increased selling pressure at $155. However, the cryptocurrency has maintained a bullish momentum within an ascending channel on the 4-hour chart. The downside was protected at $143 before the price bounced to exchange hands above $150. The trading on Monday is however fairly stable with no major movements, besides LTC/USD is up 1.42% in the last 24 hours.
The TenX support for LTC on its payment platform supported Litecoin price during the recent upward momentum. Consequently, LTC/USD could continue to receive support especially after Coinbase launched the first Bitcoin debit card. The Shift Visa debit card will be used to spend will allow the users to spend their cryptocurrencies both online and offline at 38 million merchants around the world. The card works just like any other debit card and allows swift instant payment at all VISA venue that accepts VISA. Charlie Lee, Litecoin’s Founder tweeted:
“FYI: Coinbase’s Shift Visa debit card can be linked to any wallet in your Coinbase account. So, in addition to BTC, it can be set up to deduct from your LTC (or ETH/BCH) wallet.”
Litecoin price analysis, on the other hand, shows that there is a growing bullish momentum on the 4-hour timeframe chart close to $152. The gap between the 100 SMA and the longer term 200 SMA is reducing to signal that buyers have more influence. Besides, the MACD is moving towards the positive region to confirm the bullish momentum. The short-term support for LTC/USD is at $143, but the 38.2% fib retracement level with the last swing high of $161 and a $110 low will provide stronger support near $130.
LTC/USD 4-hour chart
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