Litecoin's Hashrate Reaches All-Time High, Difficulty Follows Suit

The blockchain network Litecoin's computational power reached an all-time high (ATH) on Wednesday, Jan. 25, 2023, at block height 2,411,048, reaching 798.43 terahash per second (TH/s). In addition, Litecoin's difficulty also reached an all-time high this week, hitting 23,505,031 the following day.

Timeline of Litecoin

2022 was a crazy year for bitcoin and cryptocurrency. With all the talk regarding the fall of bitcoin's price and value, it became easy to forget about some of the more obscure coins.

The latest Litecoin price analysis shows a strong downtrend for the cryptocurrency today, as the coin value underwent a noticeable reduction. The ongoing decreasing trend has lowered the cryptocurrency value to an $87.67 low.

Litecoin (LTC )has been one of the best-performing big-cap tokens over the last several months, and its hashrate just hit a new all-time high, signaling some potential bullish activity on the network.  After falling to a low of $40.

Litecoin price analysis suggests a strong bullish trend for today as the price has improved significantly in the last 24 hours as the bulls are continuing to rule the market for LTC despite the bearish momentum that was present the previous day. The price has increased up to $88.

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?

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.