GDAX, a US-based digital asset exchange by Coinbase, has announced that it has added support for Litecoin trading on its platform to meet the demands of its customer base.

According to the official announcement, GDAX now supports:

• LTC / USD — Available to U.S. customers only
   
• LTC / BTC — Available to all GDAX customers

“Charlie Lee, Director of Engineering at Coinbase, developed Litecoin in 2011. Since then, Litecoin has become one of the most widely traded digital assets and continues to attract strong trader and investor interest worldwide”, the blog post reads.

Litecoin is currently the fourth most-valued cryptocurrency with its market capitalization over $184 million (CoinMarketCap).

LTC/USD breaks above 200-day MA, good to buy on dips

LTC/USD soared higher and broke above 200-day MA on Tuesday, closing at 3.92 levels. Today the pair is hovering around 90 EMA at 3.91 levels at the time of writing (BTC-e).

Ichimoku analysis of daily chart:

Tenkan Sen: 3.77

Kijun Sen: 3.66

Trend Reversal: 3.93 (90-day EMA)

On the topside, the pair faces major resistance at 3.93 levels (90-day EMA) and a consistent break above would target 4.16 (100-day MA)/4.53 (July 02 high). On the downside, it will find strong support at 3.76 (200-day MA) and any violation of this level would drag the pair to 3.50/3.22 (Aug 02 low).

“The pair should close above 90-day EMA for further uptrend”, FxWirePro said in a statement.