Litecoin Recovers Some Losses With 5% Gain In Last 7 Days

Litecoin, an altcoin being hailed as the “digital silver” of the cryptocurrency space, has once again rewarded its faithful investors and holders as it mounted a massive recovery after bottoming out at $60. Interestingly, the token made its bounce back shortly after CNBC host Jim Cramer went out of his way to call holders of LTC idiots.

Timeline of Litecoin

Litecoin [LTC] recently made it to the news after it was ranked second in terms of the most active chain in the last 24 hours. This was good news as it somewhat reflected LTC's consistency in overall performance.

Due to the ongoing volatility among the main market movers, Litecoin's price action at the start of the month had been bumpy. The majority of altcoins have decreased in value together with bitcoin during the past month. However, with a strong performance on Christmas Day, Litecoin became the biggest gainer.

Litecoin raced to a ten-day high to start the week, as markets returned from the Christmas holiday weekend. The token extended recent gains to start the week, and neared a key resistance point in the process. Xrp was also higher, as it also collided with a price ceiling.

Litecoin (LTC) emerged as the top gainer over Christmas Day with an impressive performance. This put it ahead of market leaders such as bitcoin and ethereum in terms of performance, solidifying its position as the market leader through the first half of the holidays.

The cryptocurrency sector is still feeling pressure from the collapse of FTX, which was previously known as one of the largest crypto exchanges in the world, but some of its assets are measuring better performance than others, including Litecoin (LTC).

Despite the unfavorable market conditions in the whole of 2022, Litecoin [LTC] was able to meet up with the Galaxy Score top rankings, LunarCrush disclosed. The Galaxy score is a ranking made up by the social intelligence platform that assesses a project's overall health and performance.

CNBC host Jim Cramer is warning people to stay away from cryptocurrencies, especially Solana (SOL) and Litecoin (LTC). In a new CNBC interview, Cramer says that he has sold all his digital asset investments and would not enter the space again, in the aftermath of the FTX collapse.

Litecoin (LTC) has faced several price rejections at the $80.24 level since late November. In particular, the $76.72 level saw the highest traded volumes, as indicated by the Volume Profile Visible Range (VPVR) indicator.

The latest Litecoin price analysis suggests a bearish trend for today and supports sellers as the price has undergone a considerable decrease since morning. Although the bulls were in the winning position today, the prices have fallen drastically today.

Litecoin price analysis shows a bullish trend as prices move to reclaim the $66.37 level, However, the bulls may encounter selling pressure at this level. If they do, a retracement to around $64.90 could occur.