One of the most primitive cryptocurrency, older than Ethereum too, Litecoin price is been tested within lower resistance levels. After attaining the highest ever levels above $400, the LTC price slid down mercilessly to reach the levels close to $100. However, the price still sustained above $100 but may lose the grip if the bulls do not get intensified.
As the dogecoin price displayed a very short-lived rally by rising to the highest level around $0.7 from less than $0.1 in a short span of time. This followed by a plunge below $0.2 levels and currently maintaining a very narrow trend. Litecoin price rally is also speculated to showcase a similar trend as dogecoin.
As mentioned in the chart above, the LTC price rally is also resembling the DOGE price rally to a large extent. And hence, if it inculcates the trend, the consolidation within a narrow trend may continue to a large extent.
However, despite both rallies resemble each other, the technicals and fundamentals differ. And hence considering the technicals of the litecoin price, a massive uptrend may be fast approaching, if certain levels are sustained. According to an analyst, Research 24/7, LTC price is required to break and close above resistance levels at $157. In such a case a target above $200 may be attainable.
Collectively, many assets are reviving the lower levels due to the immense sell-off. Or can say the price may have lost their value of let. And hence litecoin price like the dogecoin price is slipping to their respective initial levels. However, the narrow trend within the crypto space could carry on for more time before a massive leg up.