Last week, not only bitcoin stagnated, but also most of the top digital currencies.
BTC volatility remains at a four-year low due to the weak activity of traders. There was no Santa Claus rally in 2022 as capital mostly exited risky assets following the US Federal Reserve’s rate hike.
Only Litecoin (LTC) was able to gain ground last week. In seven days, its capitalization increased by more than 7% to $5.785 billion.
On Tuesday, the LTC rate broke above $70, but the altcoin could not cope with the resistance and fell to $68.88 on Wednesday night. Over the weekend, the daily trading volume of the cryptocurrency increased by more than 180% to $437.7 million.
At the same time, analysts doubt that Litecoin will be able to reach $100 in the coming weeks.
However, the altcoin has a good chance of a push to $80 if it can break the resistance around $70.
An important event in the history of Litecoin will be the August halving 2023.
The network block reward will be reduced by another 50% to 6.25 LTC. A few months before the halving, litecoin may enter a bullish phase and break above $100.
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