Litecoin Price Analysis: LTC/USD holds gains of 2%; Litecoin foundation announces sponsoring UFC fighter
|- Litecoin foundation have deeper ties with the UFC, this time by sponsoring a UFC fight.
- LTC/USD upside is capped by supply from $34-33, support eyed at $30, where a near-term trend line is tracking.
The Litecoin price was seen holding gains on Wednesday of 2%, however price action is still somewhat trading within a tight range. Upside is capped by resistance heading into the $33-34 area, LTC/USD has not been above this since 10th January.
In terms of news flow, the Litecoin foundation following them partnering with the UFC at the back-end of 2018, they have taken deeper sponsorship steps. This time by sponsoring a fighter, Ben Askren, the first to be individually backed by the foundation.
LTC/USD price is supported by a near-term ascending trend line, this can be seen protecting the psychological $30 mark. The next major support south is eyed at $27.90, which is the 27th December low print. In order to see greater upside, bulls must break down supply as mentioned earlier, $33-34.
LTC/USD 4-hour chart
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