Home
News
- 1 LTC coin price rose 5% in a day after the BitPay integration news surfaced online.
- 2 The LTC coin is seen rising to the immediate resistance level of $75.37.
- 3 The 50-day and 150-day moving averages are on the verge of making a bullish crossover.
BitPay announced through a post on X (formerly Twitter) that Litecoin (LTC) can be used to top up Microsoft accounts. After the news, the LTC coin price rose 5% from the level of $69.4.
In November, BitPay also revealed that Mecum Auctions now accepts Litecoin. It is a company that has been selling collectible cars, vintage and antique motorcycles, and road art.
Integration of Litecoin into BitPay
The integration of Litecoin into BitPay’s payment options makes it more widely available. It also demonstrates its increasing practicality in everyday transactions. This move marks a progressive trend in which digital currencies are becoming more deeply embedded in daily financial activities.
Litecoin’s expansion into the physical marketplace is significant. As of November, Mecum Auctions has begun accepting Litecoin as a payment method.
This adoption by a reputable auction house is a testament to Litecoin’s growing trust and capabilities as a transactional currency in various market sectors. This move highlights a transformative approach towards digital currencies, transitioning from their traditional role as investment options to their recognition as a transactional currency in the physical market scenario.
Prediction of LTC Coin Price
The LTC coin price is seen rising to the immediate resistance level of $75.37 after the news of the BitPay integration came into play. The bulls launched the price after surfing the 50-day EMA, and it is currently at $70.28. The support level of $59.3 is the current support for the LTC bulls.
This level is proven to be a good demand zone for the coin, as the last month’s data shows. However, another significant achievement for the bulls is that the currency stayed at its 2nd support level of $47.7 since this year. This indicates that the price volatility has been on the bullish side.
Bullish Crossover is Expected in LTC
The moving averages are on the verge of making a bullish crossover. This will happen once the bulls can break above the current resistance level. Moreover, the price prediction in the present scenario will be bullish as the BitPay news is likely to drive the price higher, which means that there is a possibility that a breakout is near.
Conclusion
BitPay announced that the LTC coin can be integrated and used to top up Microsoft accounts. This post on X surged the price of Litecoin by more than 5% in a single day. Currently, the price of LTC is near a resistance level while the price prediction is bullish.
Technical Levels
- Support Levels: $59 and $47
- Resistance Levels: $75 and $93
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
