Bitcoin price has been constantly hovering around $17,000 for the past couple of days, while the Ethereum price is struggling to reach $1300. The market sentiments are presently uncertain, as the bulls and the bears both appear to be passive. Hence, it is compelling the markets to remain within the consolidated range. However, the trend is expected to manifest a diverse trend, as one of the primitive tokens, Litecoin, is closer to setting up a giant move to the north.
A widely followed crypto trader and strategist, Justin Bennett believes Litecoin price rally is about to start soon and may even beat bitcoin.
The LTC price is holding around the $30 support range and may rise towards its resistance zone at around $465 somewhere in 2023.
“I am bullish on LTC in the short term, especially against BTC, but there is no reason to think we won’t see this again in 2023.”
The Litecoin price is trading at $77.05 at the moment, while LTC/BTC pair is ranged up by more than 30% over the past 30 days and by more than 20% in the last 2 weeks.
Moving further to Ethereum, the analyst believes that the second largest digital asset by market cap is likely to decline heavily to reach local highs, repeating previous price action over the past month.
“I mentioned this to members yesterday, but ETH has formed a similar pattern to what we saw in late November.
Run the local highs to trap longs and then reverse,”
The analyst believes that Ethereum price is on track to reach the local high at $1319 where it could witness a significant rejection towards the current support at $1240.
