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KuCoin partners with Coinrule for automated trading

KuCoin, a Seychelles-based cryptocurrency exchange launched in 2017, has announced its partnership with one of the leading automated crypto assets trading platforms, Coinrule, to offer automated trading to its users.

According to KuCoin’s official announcement, Coinrule will allow its traders to trade cryptos on KuCoin using its platform API by integrating the KuCoin spot market data. Soon, more KuCoin products like futures trading and margin trading are also expected to be supported on the network.

While commenting on the partnership, KuCoin CEO, Johnny Lyu said:

“As the ‘People’s Exchange’, KuCoin is committed to easy-to-use trading tools for users to bring crypto to mass adoption. And the partnership with Coinrule is a big step towards this.”

Coinrule CEO and Founder, Gabriele Musella, was also excited about the partnership noting:

“At Coinrule, we are glad to see KuCoin joining our integration program. Our Users are eager to trade on KuCoin and to explore all the markets it provides.”

Embracing automated trading

KuCoin provides over 700 crypto assets trading which includes margin trading, futures trading, spot trading, staking, and P2P fiat trading. It also provides crypto assets lending to its 18 million users across 207 countries.

With the automated trading high-security mechanism, convenience, and comfort, crypto traders have also started to embrace it. It’s worth noting that KuCoin launched its Trading Bot Service back in 2021 to support five advanced trading strategies for users to gain passive income without monitoring the markets.

With this partnership, KuCoin will onboard more users that will promote trading strategies on the platform as well as lower the investment barriers for users.

The post KuCoin partners with Coinrule for automated trading appeared first on CoinJournal.

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Litecoin price prediction as token trades under $50

  • Litecoin has plummeted over 60% since March

  • The launch of the MWEB privacy upgrade contributed to a bearish sentiment

  • LTC trades lower than $50 psychological support level

Litecoin (LTC/USD) has been trading in lower highs and lower lows since March 2022. The trend has led to a 64% decline from $132. The current trading price is $47, with a daily drop of 4.36%. 

Litecoin is one of the earliest crypto projects that was forked from Bitcoin in 2011. LTC token is a utility crypto powering transactions in the network and acting as a store of value.

Many factors have contributed to the decline in LTC. The launch of Litecoin’s MimbleWimble update received negative sentiment leading to delisting in Binance and multiple Korean exchanges.

Litecoin is also a victim of the overall cryptocurrency bearish sentiment, which has seen most tokens dip. The token was designed to complement bitcoin with a faster block time and larger supply. Due to its similarity with bitcoin, Litecoin is affected by the same sentiment facing BTC. Some of them include the hike of interest rates by the Federal Reserve. The economic intervention with the rising inflation rate has forced investors to less risky assets.

Currently, most cryptos tokens are flashing red lights. Bitcoin has dipped 4.45% in the past day, trading at $19,623. Ethereum is also down 7.88% in the same period at $1,056. BNB, XRP, and Cardano have also plunged 4.3%, 4.88%, and 6%, respectively.

LTC loses $50 Psychological support level

Source: TradingView

According to Litecoin’s daily chart, LTC has been bouncing off a descending trendline. The token has also lost key support levels at $98 and $60. Furthermore, at the $47 support zone, LTC is looking bearish and can trade lower. The price outlook shows that if the LTC loses the currency support, more positions will be liquidated even as the RSI remains above the Oversold zone.

Closing thoughts

We do not recommend a buy of LTC at the current level as the technical and fundamental analysis points towards a bearish momentum. Investors should remain patient until there is a change of sentiment. The sell-off in LTC is related to both internal factors and the aspects around the macroeconomic level.

The post Litecoin price prediction as token trades under $50 appeared first on CoinJournal.