Litecoin News

Litecoin Popularity Is Growing – Price Expected To Rise By 20% Soon.

Litecoin (LTC) price appears to be on the verge of reversing its recent slide as it approaches a key demand hurdle. A hypothetical surge in buy pressure could kick off a meeting, but the LTC must first break through a key barrier.

Litecoin Popularity Is Growing - Price Expected To Rise By 20% Soon.

Litecoin Price Chart – Source: CoinMarketCap

LHV Pank, an Estonian banking institution and financial services provider, is the most recent addition to the Litecoin community in 2021. Earlier on 21st November, the institute stated that its customers will be able to invest in Litecoin and other cryptocurrencies. LHV is the first Estonian bank to allow its customers to buy and hold crypto assets as a result of this development.

Some of the assets that Estonian citizens banking with LHV Pank can exchange include Bitcoin, Ethereum, Uniswap, Aave, Chainlink, Stellar Lumens, Polygon, and Aave.

Currently, crypto-assets acquired by consumers through LHV cannot be used in forums to pay for services or transfers while the announcement is in place, according to the official LHV Pank official page.

This LTC upgrade comes shortly after the most recent Visa upgrade, which will allow LTC holders to withdraw funds from any ATM using a Litecoin Card. While most cryptocurrencies are produced on a local level in the cryptocurrency market, significant assets like LTC and BTC are used as a de-facto currency for services and assets.

Merchants that accept LTC, such as BitPay, Travala, and others, are examples of such purchases. While this may add to the fundamentals of Litecoin, investors can exhale a sigh of relief as the expert offers a bullish outlook.

On November 10, the price of Litecoin plunged about 30% from its high of $ 295.86. LTC is currently trading around $212, indicating that further gains are on the way. Before it starts to increase, investors should be aware that it is probable to go below the 61.8% Fibonacci retracement line of $198.

Market players can expect a 50% return on their $217 investment, regardless of the size of the dip. The start of the ascent will be signaled by a daily candle that closes over this barrier. Market players might expect Litecoin to start paying more than $234 in this case. Aside from that, the LTC bulls may push the price up to $246, representing a 20% increase from the $205 level.

Although the upward trend appears to be clear, if LTC falls below $198 and fails to rebound, things could be delayed. This move indicates that the price of Litecoin is likely to point to a re-examination of 70.5%. Fibonacci retracement level at $185, where it will provide another capital.

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