- Litecoin price on Thursday, seen trading in positive territory with modest gains of 1%.
- LTC/USD price action is heading towards near-term supply of $32.50, a rejection could send price back to $30.00.
Litecoin on Thursday is seen holding gains of some 1.1% in the mid-point of trading. LTC/USD picked up some upside momentum around a near-term demand area, at the $31.00 mark. The cryptocurrency market in general still remains somewhat flat.
In terms of recent news flow, the Litecoin community have made an update in adopting its new, light blue logo. In terms of the update, it was first seen at UFC232, this coming on the back of the Litecoin Foundation’s sponsorship deal with Ultimate Fighting Championship.
LTC/USD is heading back towards a supply area, which is seen heading into the $32.50 territory. Should the bulls manage to break this down, then eyes will be on a retest of the 20th Jan high area, $33.30. A rejection however, could send the price back down towards $30.00.
LTC/UD 4-hour chart
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