Industry News, LTC Price

Litecoin price analysis: LTC/USD flirting with $155 resistance

  • Litecoin prices up as much as 15% on Wednesday
  • General market rebound allows bulls to return
  • Aliant Payment Systems will now accept Litecoin

The Litecoin price has made a continued recovery in line with the general market rebound, given the relief post SEC hearing on virtual currencies. Elsewhere, a top Chinese government think tank, noted central banks should adopt digital currencies, in order to make payments more efficient.

In other news, it was reported by a large US based payment processing platform, Aliant Payment Systems, noting they will now accept Litecoin. The CEO was quoted saying,” our merchants look to us for innovative ways to transfer money safely, securely, and cost-effectively. Cryptocurrency allows us to move money in all of these ways, while also offering consumers more payment options… We expect Litecoin to emerge as a prominent everyday payment option. Pay with Litecoin at restaurants, bars, gas stations, coffee shops, and other places that you go regularly.”

Looking technically, LTC/USD is currently being capped by resistance around $155. There is a descending wedge pattern on a daily chart, the price looks subject to a possible breakout to the upside.


LTC/USD daily chart

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