Ken Chigbo
Independent Analyst
- Litecoin price is storming ahead on Friday, holding big gains of around 4% in the session.
- LTC/USD must breakdown barrier heading into $50 mark, to see greater wave of buying pressure.
The Litecoin price on Friday is outperforming in comparison to most of its peers across the cryptocurrency market today. LTC/USD is currently enjoying a three consecutive session run of gains, with price up 4% at the time of writing.
Litecoin foundation has been busy on the partnership front over the past few days. They recently announced a collaboration with Glory, a world known kickboxing league. Elsewhere, partnering with C&U Entertainment, production organization for a concert hosting some of the biggest names in K-Pop. All of which have a large following, no doubt will bring much exposure to the cryptocurrency, LTC.
Technically, LTC/USD is set to test a key zone, this can be seen tracking from $48-50 price range. A break above here will send the price back towards $55 and beyond. LTC/USD last traded up at these heights back in November 2018. Support is seen just below at a near-term ascending trend line, tracking at $45-44.
LTC/USD daily chart
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