Litecoin bucks market downtrend, posting 19% gains to pass Shiba Inu

Litecoin bucked the market downtrend, posting 19% gains over the past week to lead the top 100. The post Litecoin bucks market downtrend, posting 19% gains to pass Shiba Inu appeared first on CryptoSlate.

Timeline of Litecoin, Shiba-inu

With a 52.4% volume hike, the Litecoin (LTC) price gave a high momentum breakout from the $64.5 resistance. Thus, this bullish breakout should accelerate the buying momentum and drive the prices to higher levels.

As the FTX-induced devastation in the cryptocurrency sector continues, Litecoin (LTC) has held its own and even climbed over 10% on November 22 to be one of the crypto markets' top gainers. 

Litecoin ($LTC), a cryptocurrency that has often been described as the silver to Bitcoin's gold, has been outperforming the wider cryptocurrency market over the past few weeks, to the point it has recently overtaken Solana ($SOL) in market capitalization.

Litecoin rallied to a three-week high on Nov. 22, despite the global cryptocurrency market cap mostly residing in the red. As of writing, the crypto market is down 1.11%, however, litecoin is up by over 12%. Another notable gainer has been chainlink, which rose for a second straight session.

Litecoin (LTC) price is trading in the uptrend zone as it crossed the moving average lines. At the high of $64, the upward momentum had come to an end. Since November 8, the price has moved in this direction.

 LTC's price continues to hold strong as the bull refuses to give in to the FTX fiasco as price trends are above $60.   LTC's price continues to look strong despite bearish market sentiments, as things look uncertain for most traders and investors.

Shiba Inu (SHIB) capitalized heavily on the meme coin hype but failed to find its footing as the project lacked utility. Orbeon Protocol (ORBN) is the definition of utility. Both its token and platform will provide many features and benefits and solve problems for its users.

 The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Litecoin traded within a range since May A move back toward the lows could be on the cards In early November, Litecoin attempted to break out past the $63 resistance level with a strong show

Despite the entire cryptocurrency sector still feeling heavy aftershocks of the earthquake caused by the FTX liquidity crunch, dog meme coin Shiba Inu (SHIB) hasn't seemed to suffer any losses in the number of investors – quite the opposite.

Litecoin has been climbing the crypto market cap ranking and currently stands at rank 15 with a market cap of  as of press time. The post ‘Boring' Litecoin makes play for top 10 amid market meltdown appeared first on CryptoSlate.