LTC has rallied over 43% in the past few weeks with the FTX fall. Meanwhile, BTC and ETH has dropped significantly.
LTC/BTC pair has seen a fall of 0.8% in the past 24 horse. Technical indicators suggests a weak downside momentum
Litecoin is currently seeing a strong upside trend and has gain over 43% in the past few weeks. Meanwhile, other crypto currencies has seen a strong decline with the FTX contagion. The rally behind the LTC can be associated with the halving which is due in 8 months.It will reduce the mining reward of 12.5 LTC per block to 6.25 LTC in the next halving. Litecoin has bottomed out and can rally to a new high in upcoming days.
LTC is currently ranked 13th in CMC and has crossed the market cap of Solana. The volume of Litecoin has seen a gain of 1.5% in the intraday session. Volume to market cap ratio of Litecoin hints a consolidated momentum for the future.
Bulls Of LTC Are Getting Tired
Source: TradingView
The weekly technical chart of Litecoin suggests a stron
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