In recent trading sessions, the price of Litecoin has remained stagnant below a significant resistance level while Bitcoin has experienced consistent fluctuations. Although Litecoin showed a slight increase of 2% in the last 24 hours, it lost 1% over the week, indicating consolidation.
The altcoin’s technical outlook suggests a potential bearish takeover, as demand and accumulation for the altcoin have both declined. The crucial overhead resistance level of Litecoin has been a barrier that the coin has failed to surpass previously. In the event of another rejection over the coming trading sessions, bears could successfully take over.
As Bitcoin approaches the $30,000 mark, major altcoins are following a similar price trend. If BTC successfully crosses this resistance level, Litecoin could experience a rally. However, the market capitalization of LTC has decreased in the last 24 hours, indicating a decline in buying strength.
Litecoin Price Analysis: One-Day Chart
At the time of writi
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