Litecoin, despite being one of the oldest cryptos in the market, has remained relatively hushed in terms of acceptance. However, while Bitcoin and Ethereum dominate the market and headlines, it looks like Litecoin might have the upper hand this time. Litecoin has been seeing inclusion in various projects, all of which have been adopting crypto recently. Verifone, in a partnership with BitBay, recently announced that it will be enabling payments in crypto soon. This feature will include Litecoin, along with a few more exclusive tokens. This will allow 46 million people to connect directly to these cryptocurrencies and further crypto-adoption.
Technically, Litecoin started a move to the upside following the other bigger market cap cryptocurrencies. For this week we see a correction in this area followed by a move higher as we are heading for the resistance area marked on the chart. When we reach the resistance area, we have to study the market structure to see if there is a continuation pattern, a deeper pullback or a retest of the support area.
Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.