Price Analysis

Litecoin Poised for a Massive Upswing May Outperform Bitcoin & Ethereum Soon!

Author: Sahana Vibhute

Sahana Vibhute right arrow

Author

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

news-image
Story Highlights
  • Litecoin is emerging as one of the strongest contenders to enter the top 10 cryptos in the coming days

  • The long-term potential of the token appears extremely bullish which may outperform the top crypto Bitcoin surpassing Ethereum

Bitcoin price has been constantly hovering around $17,000 for the past couple of days, while the Ethereum price is struggling to reach $1300. The market sentiments are presently uncertain, as the bulls and the bears both appear to be passive. Hence, it is compelling the markets to remain within the consolidated range. However, the trend is expected to manifest a diverse trend, as one of the primitive tokens, Litecoin, is closer to setting up a giant move to the north. 

A widely followed crypto trader and strategist, Justin Bennett believes the Litecoin price rally is set to begin at the earliest and may even outperform Bitcoin too. 

bitcoin litecoin price

The LTC price is holding around the $30 support range and may rise towards its resistance zone at around $465 somewhere in 2023.

“I’m bullish on LTC in the short term, especially against BTC, but there’s no reason to think we won’t see this play out again in 2023,”

The Litecoin price is trading at $77.05 at the moment, while LTC/BTC pair is ranged up by more than 30% over the past 30 days and by more than 20% in the last 2 weeks. 

Further moving towards Ethereum, the analyst believes that the second-largest digital asset by market cap is prone to drop heavily to reach local highs, repeating the past price action it underwent in the past month. 

“I mentioned this to members yesterday, but ETH has formed a similar pattern to what we saw in late November. 

Run the local highs to trap longs and then reverse,”

The analyst believes that the Ethereum price is on track to reach the local high of $1319, where it may witness a significant rejection towards the present support at $1240. 

Show More

Was this writing helpful?

No Yes

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button