The pairing of Litecoin (LTC-USD) with the US dollar finds itself pushing against a previous support that now functions as a resistance level. This is within the context of what's increasingly looking like an inverted head and shoulders formation on the daily chart. This analysis piece will attempt to highlight the possibilities of price action in the early part of 2019.
The Litecoin team continues to make moves to improve its visibility and promote mainstream adoption by engaging in sponsorship of events and promotions. An announcement was made recently that Litecoin was sponsoring an Ultimate Fighting Championship (UFC) event — a first in the crypto world. Also, regulated US exchange itBit has been given approval by the New York Department of Financial Services (NYDFS) to list Litecoin as part of its traded assets.