- Litecoin price is currently sitting comfortably above the 50% Fib retracement level.
- Litecoin goes live on Gemini in several trading pairs including USD, BTC, ETH and ZEC.
Litecoin spiked considerably yesterday and tested the key resistance at $60.00. However, the bulls lost momentum slightly above $58.00 resulting in a retreat into the rising channel. The crypto has maintained higher trading levels in the wake of the overarching declines mid-last week.
The price is currently sitting comfortably above the 50% Fib retracement level between the last upward move at $58.45 and a downward move at $50.17. LTC/USD is dancing with the 38.2% Fib level at $54.92 while the upside has been cut short by the resistance at $56.00. On the flipside Litecoin will find a support at the 50SMA currently at $54.28 and the 100SMA at $53.75 (hourly chart). The rising channel support will provide additional support in the event a reversal extends towards $50.00.
Listing on Gemini
Gemini cryptocurrency exchange is based in the United States. It is a centralized exchange that provides trading of digital assets such as Bitcoin, Ethereum and Zcash. Gemini also provides fiat-to-crypto trading pairs. The exchange intends to increase its portfolio from the current assets starting with listing of Litecoin (LTC).
The listing announcement was first mentioned during Litecoin Summit last month. The digital asset has today gone live the exchange in several trading pairs including USD, BTC, ETH and ZEC. In addition to Litecoin listing, Gemini intends to its Bitcoin Cash in the coming weeks. The exchange is among the few that has been granted a Bitlicense by the New York State Department of Financial Services (NYSDFS).
LTC/USD 1-hour chart
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