Litecoin worth has hovered between the vary of $102 and $115 for the previous six days, signaling a lack of volatility. In right now’s buying and selling session, the costs have remained comparatively steady, with solely a lack of lower than a share level of the worth of Litecoin.
Current Litecoin bearish transfer defined
The present bearish development began on November 10, 2021. Since then, Litecoin has misplaced over 60 p.c of its worth in lower than 4 months. Within the each day chart under that compares Litecoin and Bitcoin, the realm highlighted by yellow marks the start of the bearish transfer. A fast look on the chart and you will notice that Litecoin and Bitcoin costs started their bearish transfer across the identical time.
The bitcoin worth, which is represented by the orange line graph, nevertheless, didn’t drop as a lot as Litecoin. It is because Litecoin is positively correlated with Bitcoin and principally follows its development and never the opposite method. The graph additionally reveals Bitcoin costs recovering. Based mostly on this, I additionally anticipate the costs of Litecoin to start out an upward transfer after the present lack of volatility.
Litecoin Vs. Bitcoin Chart
Litecoin Value Prediction
Litecoin’s worth is at present inside a help and resistance stage of $97 and $144 respectively. Right now’s buying and selling session additionally marks a second consecutive day the place Litecoin is dropping worth. Trying on the each day chart, the costs have additionally been buying and selling sideways every week after they set a low of $92. My Litecoin worth prediction expects the present bearish transfer to finish quickly.
The cryptocurrency market is recovering, as highlighted within the Litecoin Vs. Bitcoin part above, the place Bitcoin has began to get better. That is supported by my help and resistance evaluation, the place costs failed to interrupt the long-term help of $97. Though the costs are at present buying and selling sideways, I anticipate the costs to hit the $144 resistance stage within the coming days, as highlighted within the yellow area. Nevertheless, if the costs proceed buying and selling sideways, my buying and selling evaluation shall be invalidated. It should additionally imply the costs could proceed dropping.
Litecoin Value Each day Chart