- LTC/USD consolidates with a bearish bias.
- BlockCard now supports Litecoin.
Litecoin (LTC) has been rangebound with a downside bias. The fourth largest coin with the market value of $3.42B lost over 1% in recent 24 hours, and erased nearly all weekly gains; however, it is still moving within an upside trend. At the time of writing, LTC/USD is trading at $56.20.
What’s going on
A cryptocurrency debit card-based payment service BlockCard now supports LTC, as announced by Ian Kane, CEO of BlockCard operator, Ternio. It means that BlockCard users now can spend their Litecoins with merchants.
Currently, BlockCard supports six virtual currencies - Tern (its native token), Bitcoin, Ethereum, Bitcoin Cash, Stellar and Litecoin. LTC was added within the “Pay With Litecoin” initiative by the Litecoin foundation.
Litecoin's technical picture
LTC/USD recovery is capped by $57.00 barrier with strong selling interest noted around that level. Once it is out of the way, the upside may be extended towards the recent high of $59.75 and $60.00.
On the downside, LTC/USD is supported by $55.50-$55.30 congestion area. Once it is passed, $52.00 and %51.70 (SMA100, 4-hour) will quickly come into focus.
LTC/USD, 4-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi
Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Ethereum cancels rally expectations as Consensys sues SEC over ETH security status
Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask
US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?