Litecoin price analysis: LTC holders can buy Maserati or Cadillac for Litecoins

Bob Moore Auto Group accepts payments in Litecoins via a partnership with Aliant Payments.
LTC/USD has a chance to extend the recovery once $34.00 is cleared.

Bob Moore Auto Group entered a partnership deal with a payment processor Aliant Payments to allow Litecon owners to purchase cars with their coins.

"Bob Moore Auto Group has signed on with @AliantPayment to accept Litecoin at their dealerships! The first to have it will be the #1 dealership in Oklahoma City, ”Litecoin’s creator Charlie Lee commented in his Twitter account.

Oklahoma-based Bob Moore Auto Group sells cars of such iconic brands as Audi, Buick, Cadillac, Chrysler, Dodge, Ford, GMC, Infiniti, Jaguar, Jeep, KIA, Land Rover, Maserati, Mazda, Nissan, Porsche, Ram, and Subaru.

In separate news, it has become known that Litecoin is now available in Chrome extension Moon. This integration allows consumers to pay in cryptocurrency for Amazon goods.

Positive news served as a stimulus for Litecoin bulls as the coin recovered strongly at the end of the week and tested $34.65 high on Sunday. While LTC failed to hold the ground, the upside momentum may gain traction, as long as it stays above $30.00. LTC/USD is changing hands at $33.48, down nearly 2% on a day-over-day basis and unchanged since the beginning of Monday.

Looking technically, we need to see a sustainable move above $34.00 to set the recovery ball rolling with the next target at $41.00 - January 8 high.

LTC/USD, the daily chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram