Litecoin Price Rebounded with Key Upside Level to Watch

Litecoin (LTC) has successfully jumped back over $60 price level. And this happened after a brief fall toward the $54 level support level the previous week.

According to Litecoin price analysis, the cryptocurrency might rally towards $74 if it reached the $64 level.

Aside from that, LTC is tracking the broader cryptocurrency market higher. And this is with the previous week’s remarkable recovery from the $54 area. In the Litecoin technical analysis, it indicates that the LTC/USD pair might stage its next major rally. And all of these will happen if the $69 resistance level is overcome.

Then, the daily time frame displays that a bearish head-and-shoulders pattern is still present. Even after following last month’s Litecoin reversal from the $69 resistance level.

Also, technical analysis on the daily time frame indicates that when the price moves over the $69 level, the LTC/USD pair might go up towards the $85 area.

Recently, further gains are looking over the medium-term horizon, unless sellers move the price below the $54 support level.

Based on the Litecoin technical analysis, the cryptocurrency has a bullish short-term bias as the price trades over the $57 level. A bullish inverted head-and-shoulders pattern will build if the price continues to rally in the $64 level on the one-hour time frame.

Then, a sustained breakout over the bullish pattern’s neckline – approximately in the $64 level – might show the LTC/USD pair rallying towards $74. If the price hits the $69 level, a larger reversal pattern and an upside projection of $11 will form.


Crypto Trading for Aussie Users

Meanwhile, one of Europe’s largest brokerage firms will offer crypto trading services. This will happen after opening its doors to Australians the previous month.

The U.K.-based money app Revolut revealed on September 3 that its tens of thousands of Australian customers can now buy, sell, and hold crypto assets. Also, users can convert their fiat into Bitcoin (BTC), Ethereum (ETH), Litecoin, Bitcoin Cash (BCH), XRP, and Stellar (XLM).

Revolut explained that its ‘Metal plan’ customers could move digital assets to other users and exercise the chance to round up credit card payments to the nearly dollar. With that, they could use their spare change to buy crypto.

The app’s standard and premium customers would be next to gain access to Revolut’s crypto trading features.

Matt Baxby, Revolut Australia CEO, stated, “Buying and selling cryptocurrencies can be incredibly complicated and confusing for the uninitiated.”

And this indicates that a lot of Australians do not have any idea of accessing cryptocurrency as an investment option.

Last month, the app publicly launched a range of more traditional financial services. The highly anticipated launch got 30,000 people on the app’s waitlist and 25,000 Australians using the beta version.

Going to Europe, Revolut has over 1 million users on its crypto exchange. And this is with approximately 6,000 new crypto accounts added each day.

Then, the head of the crypto at Revolut, Edward Cooper, shared information. He said, “By making cryptocurrencies easier to access for everyone, we’re trying to do what the internet browser did for the internet.”

Comments Rating 0 (0 reviews)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!

You might also like

Leave a Reply


Subscribe to Our Newsletters

Have the best of Finance Brokerage News delivered directly to your mailbox. Subscribe now to receive the latest market news.