Litecoin (LTC) Bullish Trend after Launching Website to Support the PayWithLitecoin Movement
The crypto market had a rough time trying to stay in the green for the second quarter of this year because the bearish trends kept growing in intensity and frequency. This week started with a red zone for most of the cryptos, and Litecoin (LTC) was no exception. Its price fell to $116. On the other hand, expert voices from the crypto space keep predicting that LTC may reach even lower prices in the upcoming days, the coin managed to pull itself together at it recovered from the low support level. For the crypto to hit a bull run, it had to break the $122 resistance, and this just happened.
Litecoin’s current price status
After a hike of 2.94% in the past 24 hours, LTC is currently being traded at $122.16. The LTC market is in the middle of an upward trend. As the crypto managed to get past the $122 resistance, the next stop will be the $130 mark.
On the other hand, if things don’t go as planned and the crypto falls below $120, it may hit a low support level of $116 again.
Litecoin will enjoy Reddit’s support
In March, payments via cryptos have been disabled from Reddit which is the largest community of tech and crypto enthusiasts. They disabled the payments due to issues that Reddit faced with Coinbase’s payment platform. Christopher Slowe, Reddit’s CEO had an interview with Cheddar and said that the team is struggling to bring back Bitcoin payments. He also stated that their plan includes adding Litecoin (LTC) and Ethereum (ETH) as well when the upgrade will be made. So, we can expect Litecoin to be featured on the platform rather sooner than later.
Litecoin Foundation launched a website to support the PayWithLitecoin Movement
Just a few hours ago, the Litecoin Foundation launched a website to support the aforementioned movement. Paywithlitecoin.io is a platform that the Litecoin Foundation has developed to assist users and businesses all over the world in adopting Litecoin.
The platform wants to allow small and large organizations across the globe to add Litecoin as a payment option. These companies would then benefit from Litecoin’s next-gen transactions. LTC aims high – the crypto wants to be accepted in all the places that accept fiat currencies.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.