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.

Tanya Abrosimova Independent Analyst

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

Author

Tanya Abrosimova

Independent Analyst

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