- LTC Price Analysis – LTC/USD pair surges above $58
- Litecoin Foundation announces partnership with BlockFi
LTC price is trading slightly in the green zone, with 0.78% high on the day. The LTC/USD pair is getting ready to attack $60 and the 200 SMA resistance. The current support at $58 is feeble but very important for the anticipated price recovery above $60. Currently, LTC ranks 7th in the market, with a market cap of $3.72 billion. In the last 24 hours, LTC has recorded an overall trading volume of $4.25 billion. The daily chart of LTC price is trading at $58 as the tussle to shove for a break above the barrier at $60 continues to give the bulls a difficult time. The RSI is above 70, indicating that the price momentum and price trend approves of the bulls.
Litecoin (LTC) Price Today – LTC / USD
However, if LTC price makes it above the price tussle at $50, LTC must prepare to wrestle more resistance at the 200-day SMA currently at $65.83. While if the support at $58 refuses to hold, LTC is likely to move to the next support level at $50. A further downward price movement will find support at $40.
Litecoin Foundation announces partnership with BlockFi
Litecoin Foundation recently announced its partnership with BlockFi, a cryptocurrency lending enterprise, aiming to promote the use of BlockFi’s “suite of products” to offer Litecoin users with several options like earning interest on and borrowing against their Litecoin used in their platform. According to Litecoin Foundation, the partnership would provide additional options and liquidity prospects.
Speaking on the Partnership, David Schwartz, Litecoin Foundation’s Project Director, stated that the partnership was a “valuable addition to the strategy of diversification of Litecoin”.
“BlockFi has been and will continue to be a key component to the continued growth of the cryptocurrency ecosystem. By partnering with them, the Litecoin Foundation recognizes its positive contributions and the suite of products they provide customers. BlockFi provides our community, one of the most active in crypto, even more, quality choices of where to place their digital assets.”
According to BlockFi’s official statement, the partnership with Litecoin Foundation was a “natural step to ensure that the most value is being delivered to clients using Litecoin”. According to BlockFi’s CEO and Founder, Zac Prince, he claimed that it was a ‘win-win’ for both parties.
Zac Prince went thus: “We’re excited to support Litecoin across BlockFi’s platform and welcome the Litecoin community to use our unique suite of products across earning interest, trading and collateralized loans – at the best rates in the market from a trusted service provider.”