Despite the depressing state of the market, Litecoin's most recent 36% price spike puts it in an interesting position: the asset formed a classic chart pattern called a"double bottom." Peter Brandt himselfIn the best case scenario, Litecoin will reverse after forming the pattern and moving toward previous highs at approximately $300. Such an explosive performance would make LTC one of the most profitable assets on the market with a 200% price increase in a matter of months.
However, it is too early to predict such strong and disruptive development as the digital silver's price is yet to break the local resistance level at approximately the $106 price level. In the last 24 hours, LTC lost more than 3% of its value.
The main reason behind the recovery we saw previously was most likely tied to the general movement of the market, rather than a shift in the sentiment of Solana investors. In the long term, Solana's team has too much to prove and cover to negate the extreme negativity around the project.
It is difficult to predict XRP's next steps as the cryptocurrency will most likely move based on more fundamental factors rather than the recovery or stagnation of the cryptocurrency market. The lack of traction around Ripple's case will most likely cause a prolonged rangebound movement for XRP.
Thaanks a millon
Thaanks a millon