At the time of this writing, the cryptocurrency investment is currently worth $75.94 after hovering around the $78 region for most of the day.
With its recent price dump, the crypto altcoin trimmed its seven-day gains to 20 percent from a high of 33 percent this coming week.
Nonetheless, LTC’s current performance is impressive as it managed to go up by 33.5 percent over the last 30 days.
Litecoin caught the attention of several cryptocurrency enthusiasts on November 23 when it went on a positive trend run that enabled it to reach the $81 marker and increase its market capitalization by greater than $1 billion.
At present, in that category, LTC ranks 13th in Coingecko’s list, keeping an overall valuation of $5.39 billion.
What It Would Take For LTC To Hit Higher Levels Upcoming Month
By besting the likes of Bitcoin (BTC) and Ethereum (ETH) in terms of weekly gains, Litecoin put itself in the position to be between the cryptocurrency assets that specialists are keeping an eye on.
“LTC upside wicks have gone up to as high to the $85-$98 region before ultimately rejecting there. Price has to Monthly close & hold over $67 to move higher upcoming month,” stated the pseudonymous crypto figure.
Rekt Financial resources likewise noted that given Litecoin’s history of being rejected from the greater demand region, it has to keep the $67 price territory when November ends for its uptrend to be confirmed and for it to test higher price levels.
Analyst Bullish About Momentum For Litecoin
In the meantime, well-known cryptocurrency analyst Crypto Altcoin Sherpa likewise shared its take on what awaits Litecoin following its impressive run regardless of the bearish market that now engulfs the cryptocurrency space.
It pointed out that after LTC successfully flipped its 200-day Exponential Moving Average, there is no doubt that the upcoming stop for the cryptocurrency investment is the $100 territory.
That though, could only happen if the digital investment is able continuation its upward trend.
Digital currency data provider Coincodex, on the other hand, might have to disagree with this positive trend sentiment for the crypto altcoin as its forecasts are not looking good for Litecoin right now.
As reported by its prediction, in 5 days, LTC will trade at $74.60 and one month from now, the investment will change hands at $62.04.
Despite the fact that Litecoin might have the opportunity to close November with a higher trading price than the $67 critical marker, it would appear the investment is in for another downhill drive as the tail-end of 2022 nears.
LTC total market capitalization at $5.3 Billion on the daily chart | Featured image from Sweden.se, Chart: TradingView.com
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