- Litecoin price is considered to be undervalued.
- Since early October 2021, the LTC price has been rising steadily.
Bitcoin, the first cryptocurrency released in 2009. Within a few years, another asset emerged. The idea of alternative currencies, or ALTCOINS, became considerably stronger from this currency than Bitcoin’s.
So which is the oldest altcoin? Litecoin, the lite version of Bitcoin, started its journey on October 13, 2011. The asset will shortly reach a decade of trading history, and the community is ecstatic. Charlie Lee, the inventor of Litecoin, has posted a thread on his Litecoin journey.
Despite being one of the oldest cryptocurrencies, Litecoin price is considered undervalued. Unlike other assets like Bitcoin and Ethereum, Litecoin is presently battling to reach $200. So many think the asset is kept out of the mainstream.
Strong Consolidation
Litecoin price was easily rising over $220. However, when the China FUD spread, the value dropped sharply but remained over $160. Since then, the asset has been consolidating strongly, with some downtrends. However, the transaction reversed at the start of the current month, raising $140 to $185.
Since early October 2021, the LTC price has been rising steadily. The asset encountered resistance between $187 and $189. However, it has already retraced by rebounding off the uptrend line. So the primitive cryptocurrency must break past the resistance zone to quickly reach $200.
Compared to Bitcoin and Ethereum prices of $50,000 and $3000, respectively, Litecoin, significantly undervalued. However, with further development and acceptance, LTC prices may rise. And also compete with other famous cryptocurrencies in the crypto world.
According to CoinMarketCap, Litecoin price today is $181.82 USD with a 24-hour trading volume of $3,542,804,171 USD.
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