Litecoin (LTC) Price Analysis – February 19

  • The price of Litecoin faces resistance at the $48 price level.
  • The crypto's price is expected to rise if the bulls break the $48 and $50 resistance levels.

Litecoin, LTCUSDLitecoin Chart by Trading View

LTCUSD Medium-term Trend: Bullish

  • Resistance Levels: $60, $65, $70
  • Support Levels: $40, $35, $30        

The LTCUSD pair is in the bullish trend zone. In retrospect, the price of Litecoin was range bound above the $30 price level since January 10, 2019. On February 8, the bulls broke out of the range-bound movement and reached a high of $48.10. The LTC price faced resistance at the $48 price level and the crypto fell to the support of 12-day  EMA.

At the support of 12-day EMA, the bulls made another attempt at the resistance level at $48. On the upside, the crypto's price is expected to rise if the bulls break the $48 resistance level. Meanwhile, the Stochastic is in the overbought region but below the 80% range which indicates that the crypto is in a bullish momentum and a buy signal.

LTCUSD Short-term Trend: Bullish 

Litecoin, LTCUSDLitecoin Chart by Trading View

On the 4-hour chart, the price of Litecoin is in a bullish trend. The crypto's price was making a series of higher highs and higher lows when the trend line was broken at the $48 price level. From this chart, the bullish trend is terminated because the trend line has been broken and the following candlestick closed in the opposite of the trend line.

The bulls are still pushing towards the resistance level. Meanwhile, the Stochastic is in the overbought region but below the 80% range which indicates that the crypto is in a bullish momentum and a buy signal.

           

 

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

XRP Trading Now Available to Customers of Huobi Marketplace in USA and China

On Thursday (April 18), Huobi Marketplace (formerly known as "HBUS"), the cryptoasset exchange operated by San Francisco-based company HBUS Holdco, Inc. ("HBUS"), the exclusive U.S. partner of Singapore-based Huobi Global Limited (“Huobi Global”), announced that XRP trading had become available on Huobi.com.

The Huobi Marketplace originally went live under the "HBUS" brand on 10 July 2018. Initially, trading was only available in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Tether (USDT), Civic (CVC), Dash (DASH), and TrueUSD (TUSD). By 29 November 2018, 12 cryptoassets and 35 trading pairs were supported. 

Then, on January 11, HBUS published a blog post in which the company's CEO, Frank Fu, said that HBUS had "obtained exclusive rights to use the Huobi brand in the U.S." and changed the name of its marketplace (i.e. crypto trading platform) from HBUS to Huobi. HBUS also said that it had migrated "from its previous website (www.hbus.com) to the new domain at www.huobi.com."

In a press release issued on the same day, which was also posted to its blog, HBUS explained that it would continue to be "the company operating the U.S. trading platform," while Huobi Global, Huobi Group’s flagship digital asset exchange, would continue "to operate under its own name at hbg.com."

Here is how HBUS explained the advantages of this strategic partnership with Huobi Global:

"The exclusive licensing agreement and partnership gives HBUS a reputable brand to provide U.S. traders with localized trading experience. A closer relationship also means more technological support from Huobi Global for HBUS, which will provide advanced stability and security features."

Thursday's announcement by Huobi Marketplace informed customers that in order to provide them with "carefully vetted and high-quality trading options," it was adding support for XRP:

"Starting now, you can deposit XRP on the Huobi Marketplace, and the estimated opening time for XRP trading and withdrawals will be April 19th, 2019 at 12:00AM PST. Supported XRP trading pairs include XRP/USD, XRP/BTC and XRP/USDT."

 

Featured Image Courtesy of HBUS