Litecoin (LTC) price action jumped this Monday morning despite worries out of China after news COVID-19contaminations suddenly jumped to a three-month high. This might indicate a market dislocation is unfolding in which cryptocurrencies rally in a risk-off environment. Traders will keep two things in mind while trading this rally: its limited upside potential and that Putin has called together his security council to discuss next steps, with risks that this could lead to nuclear weapons being deployed.

Litecoin (LTC) has recently completed its most bullish week since June, following a remarkable rise. The “digital silver” registered over 24% gains in the last seven days alone. There’s no main catalyst for the token’s impressive rise. However, its gains come amidst its hash rate reaching a new all-time high during the week.

The world’s biggest crypto exchange by volume, Binance, published blog post this morning saying they are not going to support the MimbleWimble Extensions Block (MWEB) feature for Litecoin (LTC) deposits and withdrawals. They cited worries about security as the main reason for this decision.

Litecoin price prediction suggests the massive recovery of LTC crypto from the long term consolidation phase.

Litecoin's (CRYPTO: LTC) price has decreased 5.76% over the past 24 hours to $50.53, continuing its downward trend over the past week of -0.0%, moving from $51.01 to its current price.

Litecoin is one of the original altcoins, created not long after Bitcoin.

Litecoin (LTC)’s bullish activity has risen since the start of the month. It managed to recover back above $60 after ending August on a bearish note. On the contrary, however, new observations seem to indicate that it might be about to experience another slip below the $60-level.

Litecoin price analysis is currently bearish as the market slides below $50.86. This comes after a period of consolidation around this price level. The bears now seem to be in control as they push LTC/USD prices toward support at $50.44. The Litecoin market has been in a consolidation phase over the last few days as it trades between $48.00 and $51.00 levels. The digital asset is currently trading at $50.86 and is down by over 0.90% on the day. The market cap for LTC is currently at $3.6 billion and the 24-hour trading volume stands at $262 million.

Litecoin [LTC] managed to outperform most cryptos lately, as it registered over 9% gains in just 24 hours. This was a promising uptick that increased the possibility of a further increase in its price over the coming days.

Litecoin price (LTC) sees bulls being taken to the cleaners as an early rally gets cut short and turns completely negative. The catalyst appears to have been UK Chancellor Kwarteng’s speech which triggered a meltdown in sterling with ripple-effects extending throughout financial markets. This is proof, yet again, that cryptocurrencies are fully entangled with the dynamics of global markets, and dedicated cryptocurrency traders would do well to dive into their history books and learn about how to trade a global recession.

Crypto analyst Ali Martinez has taken to Twitter to comment on the milestone achieved by the major cryptocurrency Litecoin, while the LTC halving event is just a few months away. Here's the development that has occurred on the LTC network. Spike in LTC active wallets detected Martinez tweeted that the biggest surge in the number of active LTC wallets over the past two years has been detected. The number of interacting LTC addresses reached 832,000 both as senders and receivers.

While the cryptocurrency market was going through a heavy drop with the FTX collapse, Litecoin (LTC) managed to stand out on the upside. But is the cryptocurrency's 24% monthly rally just a hoax?

Litecoin price analysis shows a bearish trend for today. The bears have taken over the price charts again and have reduced the price level to $53.58, as market sentiment is bearish towards LTC/USD. Selling pressure came in at the start of today’s trading session, but the trend remained undetermined during the first four hours, and after that, bears outplayed the bulls. The price trend line shows a downward curve from yesterday, low at the $53.03 level.

In the past few days, litecoin price started a steady increase above the $60 level against the US Dollar. LTC price was able to clear the $65 and $70 resistance levels to move into a bullish zone.

Litecoin (LTC) has been showing an excellent fightback from the start of this month. In the last two weeks, there has been a fresh decline in Bitcoin, Ethereum, and Litecoin. LTC ended August on a bearish note below the $55 price level. However, it recovered from its prices and broke the $60 mark this month. According to some observations and indicators, Litecoin can see a slight slip below $60 this week.

Fundamental Litecoin event just around corner, and you should not miss it

Analytics firm Santiment says crypto whales have spent the most recent portion of the bear market gobbling up the peer-to-peer payments network Litecoin (LTC).

Litecoin, for most part of the current year, has been silent and is only mentioned when its price goes down relative to the overall sentiment of the whole crypto market.

Looking at the daily chart of LTC/USDT, LTC is forming a bullish flag pattern in the bearish market starting from November 8, 2021, at $296.8. The support zone of SOL lies between $46 – $54. After touching the support level of $41.14, LTC tends to bounce back a little and go in another downward direction and tries to retest the support zone frequently.