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In today’s Crypto News. Litecoin Price Forecast; The Bullish Trend Dominates.
Litecoin fell on Thursday following the existing decline in bitcoin prices and reached the $260 level, FXLeaders report. An unknown purchaser used Litecoin to spend for a well-known Tom Brady football card worth $1.68 Million.
The autographed card of the 7-time Super Bowl Champion Tom Brady was offered to an unidentified buyer for $1.68 Million worth Litecoin, which was trading at $260. Goldin Auctions’ executive, Ken Goldin, specified that the company has really never ever sold a more costly product, considering that it began enabling crypto payments a month back.
Tom Brady, and many other popular people, have in fact started taking an interest in the crypto market, particularly in NFT. A 43-year old legend of American football exposed his intents to release his own NFT platform called Autograph. In spite of this positive news, Litecoin prices plunged on Thursday amidst the recent pullback in Bitcoin prices.
Bitcoin came under pressure after Ethereum reached an all-time high near the $2800 level. Lots of undesirable advancements surrounding Bitcoin kept the entire crypto market under pressure, however Ethereum continued moving against the pattern and publishing gains.
This raised questions about the dominance of Bitcoin, and for this reason, BTC/USD fell and dragged Litecoin with it. The U.S. Dollar was also strong throughout the board in the middle of increasing U.S. treasury yields that pushed LTC/USD rates much more to the downside.
The LTC/USD set is trading at 264 level, usually trading choppy with a narrow trading variety of 264 to 248. On the higher side, a bullish breakout of 264 level can lead the price towards 286 while the support continues to hold at 248 level.
On the lower side, the bearish breakout of 248 level opens additional space for selling up till 212 level. The MACD and RSI are taking part in a bullish zone; for that reason, we need to be really careful with our bullish signal.
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