Litecoin News Today – Litecoin LTC Price Trading Above the 200-day SMA, March 5th, 2020

  • Litecoin LTC price is trading above the 200-day SMA
  • The bulls have failed to push the LTC price to $66.1486MeconCash partnership could drive more adoption and rally LTC price 

Litecoin news today – Even though the price of LTC has reportedly been trading above the 200-day SMA in the last two days, the LTC/USD charts show that the bulls haven’t been able to force the coin’s price to $66.1486. This recent action suggests that LTC buying is drying up at the higher areas. If the LTC/USD trading pair again drops backward under the 200-day SMA, LTC can retest its recent low point of $56.2430. However, if the aforementioned level holds, the trading pair might stay in a range-bound position for the next a few days but should these level crack, then a drop to the $50 area is inevitable. Alternatively, should the LTC bulls push prices above the %66.148 overhead resistance, then the trading pair can sustain a move upwards to the $80.2731 area. This may sound far-fetched at the moment considering the market’s parameters. We must wait for some new buy opportunities to form before we recommend a trade.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$0.00

The LTC/USD Pair is Changing Hands at $60.29 at Press Time

Litecoin News Today – The price of Litecoin is currently changing hands at the $60.29 area. Note that since the Litecoin price managed to set a new six-month high at $83.22 on February 14 this year, it has dropped by nearly 27.55%. However, the year to date performance of LTC is another story entirely. Having gained 44.92% against the USD during that period. Last Friday, the Litecoin Foundation revealed its new arrangement. It said it had entered a partnership with MeconCash. The goal is to integrate Litecoin into MeconCash’s M.Pay platform. This will make it possible for users to make Litecoin (LTC) to Korean Won (KRW) withdrawals at 13,000 ATMs in the country.

MeconCash Partnership to Drive Adoption for Litecoin LTC

According to the Chairman of MeconCash, Jo Jae Do:

“Through the partnership with the Litecoin Foundation, we are going to grow the presence of LTC throughout South Korea beginning with ATM withdrawal services. With the Litecoin Foundation as our strategic partner, we expect to grow on a global scale and see positive changes in the future of the Korean market and the global market.”

Meanwhile, Charlie Lee, LTC creator and director of the Litecoin Foundation said:

“Litecoin’s collaboration with MeconCash will integrate it into M.Pay and large network of ATM’s which is a huge step toward expanding the footprint of LTC in South Korea. We are happy to partner with MeconCash.”

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