Latest Litecoin News

From Texas, Pennsylvania to New Hampshire, there is a wave of change. Yes, most of these states are yet to declare cryptos as Litecoin as money but still, they are very clear to expound on matters liquidity via virtual exchanges.

Read: Litecoin unveils a New Logo and Embraces it After Support From the Community

Exchanges have the green light to launch their products, offer Americans a glimpse of what the future holds while simultaneously strengthening a market that is trying to shake off bears. Interestingly, New York’s decision to grant Robinhood a BitLicense as well as a Money Transmitter license allowing the $5.6 billon start-up to extend their services to New Yorkers while being compliant to the state’s laid out rule is a major boost for supported crypto.

As a platform with funds ready to expand, we expect demand for assets as Litecoin to inch higher helping prices recover from the current bear pits. Aside from Robinhood, Seed CX, a crypto exchange operating from Chicago now allows institutional grade as well as HNWI to spot trade without charges via its platform.

Also Read: Joe Rogan, Killer Mike Podcast Interview: Bitcoin Will Go Entirely Mainstream, Become Like Dollars

Seed CX is fully licensed and compliant with regulation meaning it is capable of offering “dedicated institutional coverage” with full insured custody for fiat assets.

Price wise and LTC like most coins is struggling against strong headwinds. Nonetheless, the coin is up 4.6 percent in the last day and up 3.6 percent from last week’s close meaning the coin is one of the top performers in the last day.

If anything, LTC is technically bullish and with favorable fundamentals providing support at an important support level–$30, it is clear that applying Fibonacci retracement rules mean the coin could rocket from spot levels—50—61.8 percent Fibonacci levels, to new highs probably above $50 as bulls spring out from 2018 dredges.

Evidently, the trend remains bullish and with clear rejection of lower lows off the support trend line connecting mid-Dec and recent lows, bulls have a chance to rally as long as they retain price above $30. Technically, ideal and short term buy triggers suitable for risk-off traders will be at Jan 14 highs of $33 but strong gains above $35 is still valid and could be the basis for the next wave of higher highs towards our ideal bull target of $50.

Like before, $50 is critical because it marks previous support now resistance break below level. Should bulls succeed and drive prices above $50, then the bear breakout of mid-November will be nullified gifting buyers a new lease of life with ambitious targets of $80 and even $110.

All Charts Courtesy of Trading View–CoinBase

Disclaimer: Opinions are those of the author. Do your Research.

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