As one of the most primitive cryptocurrencies, also older than Ethereum, the Litecoin price has been tested within lower resistance levels. After reaching the highest levels ever, above $ 400, the LTC price slipped mercilessly to a level near $ 100. However, the price was still holding above $ 100 but could lose its hold if the bulls are not reinforced.
Since the Dogecoin price showed a very short-lived rally, it rose from less than $ 0.1 to its highest level of $ 0.7 in a short period of time. This was followed by a dip below the USD 0.2 level and a very tight trend at the moment. It is also speculated that the Litecoin price rally is showing a trend similar to that of Dogecoin.
Also Read: Aren’t Traders Ready To Raise Dogecoin Price To $ 1?
As mentioned in the graphic above, the LTC price rally is also largely similar to the DOGE price rally. Hence, the consolidation can largely continue within a tight trend if it imprints the trend.
Although both rallies are similar, the specs and basics are different. Given the tech specs of Litecoin price, a massive uptrend could quickly approach if certain levels are sustained. According to an analyst at Research 24/7, LTC price has to break through and top the resistance at $ 157. In such a case, a goal of over $ 200 can be achieved.
$ LTC #LTCUSDT
If the price rebounds from $ 118 again, the bulls will try again to push the price onto the downtrend line. A breakout and close above this resistance suggests the sellers are losing control. The pair could then rebound to the 50-day SMA ($ 206). pic.twitter.com/hEGsn6u7MM
– RESEARCH 24/7 (@smallcappick) June 26th 2021
Taken together, many assets are reviving the lower levels due to the immense sell-off. Or can say that the price may have lost its value. And therefore, like the Dogecoin price, the Litecoin price slips to their respective starting levels. However, the tight trend within the crypto space could last longer before a massive surge occurs.