- Litecoin price up 18.3 percent in the last week
- CoinBase Wallet now supports Litecoin (LTC)
- Transactional volumes up
With CoinBase wallet, traders and investors can take advantage of this secure and Segwit supporting platform to store their stash including Litecoin (LTC). Meanwhile, it is after prices cross the $50 mark that risk-averse traders can ramp up with first targets at $70 and $110.
Litecoin Price Analysis
Fundamentals
Competition for dominance just got stiffer: , a hot wallet, that describes itself as the “world’s leading user-custodied crypto wallet” now supports Litecoin (LTC). Complete with a multi-coin feature, the inclusion of Litecoin is a step in the right direction and points to underlying demand from users. Litecoin complements Bitcoin and is the fifth most valuable coin in recent rankings thanks to their stellar performance in the last three weeks. At the time of press, the currency was up 19.9 percent in the previous week, and the new support is a reprieve for investors as well as traders seeking a safe abode against marauding hackers.
The wallet supports “newer Segwit address formats for lower miner fees, as well as Legacy addresses for backward compatibility in all applications.” Besides, they have top-notch security in place. Apart from encrypting private keys on the user phone, CoinBase wallet incorporates Secure Enclave meaning the exchange’s reputation will remain intact as they bring to use the best-in-class security feature to safeguard user funds.
Candlestick Arrangements
At spot rates, Litecoin (LTC) is up 18.3 percent and a few cents from breaching the $50 resistance level. Like in all our LTC/USD price analysis, the reaction at $50 will determine the medium to long term trend. It will be more so if buyers build enough momentum and close above $50 at the back of high trade volumes in a reflection of Feb 8 and Feb 18 upswings.
