Exploring Litecoin's [LTC] position as it looks to dominate the market in 2023

Litecoin LTC was one of the top trending coins between 17 – 24 January, and for good reason. It has outperformed many top coins in the last few months, including Bitcoin BTC on key metrics, but what does this mean for its future?

Timeline of Litecoin

Shiba Inu has once again been flipped by Litecoin in terms of market cap as the meme coin has recorded losses of 6% in the past 24 hours. Shiba Inu Is Down More Than 6% Today The year 2023 so far has overall been a pleasant time for SHIB holders as the coin is up around 40% year-to-date.

Litecoin price analysis suggests a downward movement to $85.00 The closest support level lies at $85.00 LTC faces resistance at the $90.00 mark The Litecoin price analysis shows that the LTC price action has fallen below the $87.50 support level as the bearish pressure increased.

Litecoin retested the bullish order block at $81.6 and bounced to trade at $88.6 at the time of writing. More gains are expected, and the zone of resistance at $104 can be reached soon.

Litecoin price analysis has been fairly volatile over the past few weeks, with the coin facing heavy selling pressure and dropping to lows of $89.14 today. Although the downtrend shows no signs of slowing down, there are still some key levels that could provide support for the coin.

Litecoin ($LTC), a cryptocurrency that's often referred to as the silver to Bitcoin's gold, has recently seen its hashrate hit a new all-time high, at a time in which its price keeps surging ahead of its upcoming halving event.

Data shows the Litecoin mining hashrate has hit a new all-time high, can this signal be positive for the price of the crypto? Litecoin Mining Hashrate Sets New All-Time High At 683.

Shiba Inu (CRYPTO: SHIB) surpassed Litecoin (CRYPTO: LTC) to become the thirteenth largest cryptocurrency by market capitalization early on Wednesday. What Happened: At the time of writing, SHIB's market cap stood at $6.9 billion, while Litecoin's market cap was at $6.3 billion.

The latest Litecoin price analysis is strongly bullish as it shows the cryptocurrency price function is headed upward for today. The price of LTC/USD is going up as it has now touched $87.20.

The Litecoin (LTC) price trend can be considered bullish if the price does not break down below $79. The post Litecoin (LTC) Price Starts to Run out of Steam appeared first on BeInCrypto.

The Litecoin (LTC) price hovered below the $80 resistance level for over a month before breaking through it. The cryptocurrency's value rose even further today, reaching a high of $91 before retreating.