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Litecoin [LTC] added to cryptocurrency wallet app Wirex

Ketaki Dixit

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Litecoin [LTC] added to cryptocurrency wallet app Wirex
Source: Pixabay

Today, Wirex announced that Litecoin [LTC] is added to its wallet, making Litecoin the first of several altcoins to be added to its cryptocurrency wallet app. Wirex is linked to major physical and virtual Visa debit cards, which will now support Litecoin in addition to Bitcoin [BTC].

Wirex chose to add Litecoin as ‘It’s faster than Bitcoin, has lower blockchain fees and may become a global payment option available on dozens of big brand websites in coming months.’

Its new LTC wallet allows the users to instantly convert the coin into British Pound [GBP], Euro [EUR] or U.S Dollar [USD] and spend it with the Wirex Visa Card. Litecoin can be added to the account by bank transfer, debit or credit card, which is secure and can be verified easily. Furthermore, ICO profits can be cashed out easily by exchanging it with Litecoin, which can be exchanged with Bitcoin or vice versa at any time.

In January this year, Wirex had tied up with Wavecrest, a digital prepaid payment solutions partner. However, they had to end their relationship as Visa instructed Wavecrest to close all Visa cards with immediate effect.

Visa had decided to drop all cryptocurrency-backed cards from its network as some issuer in Europe had violated their operating regulations. Since then, Wirex has been working towards issuing new cards which support Bitcoin, and now Litecoin.

Earlier this month, Litecoin [LTC] was added to the Korean exchange Korbit.

Barry Robins, a market follower, and crypto enthusiast said:

“This is great!! What happened with wavecrest and visa may have affected your user base. Its great to see litecoin is also added to your wallet and im sure the other altcoins will also be added soon. Litecoin seems to give good competition to bitcoin.”



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Ketaki Dixit is a Journalism major from Jain University. She has about 1-year experience in the field and is passionate about blockchain technology and the cryptocurrency world.

Altcoins

Litecoin [LTC] Technical Analysis: Bearish market ensues as sideways movement persists

Namrata Shukla

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Litecoin [LTC] Technical Analysis: Bearish market ensues as sideways movement continues
Source: Pixabay

Litecoin [LTC], the ninth-largest coin on the CoinMarketCap list, has been under the attack of the bear for the past few weeks. With the market being constantly attacked by the bear, the coins don’t seem to have a safe haven.

According to CoinMarketCap, the coin was trading at $24.41 with a market cap $1.45 billion. The coin registered a 24-hour trade volume of $388 million, however, the coin plunged by 1.19% over the past seven days.

1-hour

Source: Trading view

Source: Trading view

According to the one-hour chart, the coin registered a downtrend from $31.68 to $23.69. The coin also noted a minimal uptrend from $23.30 to $25.14. There was an immediate resistance provided at $24.24 and a support at $22.77, which increased by $22.96.

Awesome Oscillator indicates a bullish market, but with a fading momentum.

MACD line is seen over the signal line, marking a bullish market.

Relative Strength Index indicates that the buying and selling pressure are evening each other out.

1-day

Source: Trading view

Source: Trading view

The one-day chart of the coin indicated a downtrend from $82.22 to $55.88 which further extends to $33.34. However, no significant uptrend was noticed. There was a strong resistance seen at $55.88 and a strong support was provided at $23.91.

Bollinger Bands appear to diverge, meaning the price volatility will increase. The moving average line appears to be above the candlesticks, indicating a bearish market.

Parabolic SAR too, marks a bearish market as the marker lines are above the candles.

Chaikin Money Flow is in line with other indicators in pointing towards a bearish trend.

Conclusion

According to indicators Bollinger bands and CMF, the bear has a firm hold on the market. However, with the constant rise and falls in the market, this could change anytime.

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Altcoins

Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency fails to climb on the bull after price stays locked down

Akash Anand

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Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency fails to climb the bull after price stay locked down
Source: Unsplash

The cryptocurrency market’s bearish woes do not seem to have waned with several popular coins seeing a continuous price downturn. Bitcoin [BTC], XRP, and Ethereum [ETH] have only enjoyed sporadic bullish spikes with a definite control being exerted by the bear.

1-hour

The one-hour BTC chart shows the gradual drop in prices. The support has been holding at $3214.17 while the resistance is maintained at $4160.21. The recent downtrend took the prices down from $3558.58 to $3367.97.

The Relative Strength Index shows a slight spike towards the overbought zone. This means that the buying pressure is increasing slightly more than the selling pressure.

The Bollinger band shows a clear divergence with the upper band and the lower band indicating an imminent sideways price movement.

The Parabolic SAR has been predominantly bearish with the markers staying above the markers. At the time, the SAR indicators were below the price candles which is a bullish sign.

1-day

The one-day chart for Bitcoin does not paint a better picture for the cryptocurrency with no uptrends in sight. The long-term support has been holding at3346.6 while the recent downtrend saw the price fall from $6262.97 to $3408.

The MACD indicator shows the MACD line and the signal line moving as a conjoined pair. Other than the bearish dip, the MACD histogram has been undergoing a lull.

The Chaikin Money Flow indicator is just below the zero line, which is a sign of the money flowing out of the market being more than the money coming into the market.

Conclusion

The above-mentioned indicators all point to an extended bear run with the prices still being clamped below the $4000 mark. With the year coming to a close, the predicted bull run does not seem to be occurring anytime soon.

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