Litecoin (LTC) Price Analysis – July 27

  • The Litecoin price is range-bound on the short and medium time frame.
  • The RSI period 14 is level 42 which indicates that the price is in the range-bound zone.

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

Litecoin Price Medium-term Trend: Ranging

Resistance Levels: $85, $88, $91                                                                                                                         

Support Levels: $81, $78, $75       

The LTC price continues with its range-bound movement and has been fluctuating evenly between the key levels of the range-bound zone. If the LTC price tests the support level, you should initiate a long trade and a stop loss below the support level. Then you exit and take your partial profits near the resistance level. On the other hand, if the price tests the resistance level, you take a short trade and a stop loss above the resistance level. Then you exit and take your partial profits near the support zone. Meanwhile, the MACD line and the signal line are at par with the zero line which indicates a neutral signal.

Also, the 12-day EMA and the 26-day EMA are neither above nor below the Litecoin price indicating that it's in a range-bound movement.

Litecoin Price Short-term Trend: Ranging 

Litecoin, LTCUSD, CryptoCompare chartLitecoin Chart by Trading View

The 4-hour chart shows that Litecoin is still in a range-bound movement. The price is below the 12-day EMA and the 26-day EMA indicating that it's falling, The RSI period 14 is level 42 which shows that the price is in the range-bound trend zone.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

Binance Acquires Crypto Debit Card Issuer for an Undisclosed Sum

Leading cryptocurrency exchange Binance has acquired cryptocurrency debit card issuer Swipe for an undisclosed sum, in a deal that gets the platform one step closer to issuing its Binance Card.

Finance Magnates reports the firms shared revealed the companies will “work together to further mainstream adoption of cryptocurrencies,” by further bringing fiat and digital assets together. The deal will allow for cryptos to be used as a payment method in the traditional financial system.

Binance unveiled its plan to launch a Visa crypto debit card earlier this year, but was having difficulties implementing it. The acquisition of crypto start Swipe should help fix these difficulties and support the exchange in its “mission of making crypto more accessible to the masses.”

Per Binance CEO Changpeng Zhao, off-ramps are a key component to be considered in its mission. He added:

By giving users the ability to convert and spend crypto directly, and have merchants still seamlessly accept fiat, this will make the crypto experience much better for everyone.

Binance and Swipe listed each other’s native tokens as part of the deal. Binance now has trading pairs for Swipe’s SXP token, while the Binance Coin (BNB) was added to the cryptocurrencies, stablecoins, and fiat currencies available as a payment method on Swipe.

Swipe, it’s worth noting, converts cryptoassets into fiat currencies at the point of purchase. Users pay in a cryptoassets of their choice, which is then converted into fiat currency the merchant receives, so the latter does not have to manage cryptoassets, or accept payments in them directly.

Swipe’s cards are issued by Contis Financial Services, a visa Principal Member regulated by the UK’s Financial Conduct Authority. They are available in 31 countries within the European Economic Area, and support transactions in euros, pounds, U.S. dollars, Korean won, and Philippine pesos.

The firm’s CEO Joselito Lizarondo revealed partnering will Binance will “place Swipe in the position to make cryptocurrencies more accessible for millions of users worldwide.” Binance Card users will be able to get up to 4% cashback in bitcoin on their purchases, which will be available in over 50 million locations in the world.

Featured image via Pixabay.