The Litecoin Foundation after a pretty long time has jumped into action by letting out the new functionalities of the blockchain. After testing the upgrade on the mainnet for more than 2 years, the actual upgrade is scheduled to happen very soon. With the new features being implemented, one can expect a notable rally with the LTC price which is believed to be extremely undervalued for quite a long time.
The LTC price currently has nullified the possibilities of a probable drastic plunge that could have dragged the price too much lower levels. Therefore, while the asset is gearing up since the beginning of the present month, the LTC price appears poised for another 10% jump very soon. Once these levels are secured, the asset may easily ignite another rally to hit a minimum level at $150.
The Litecoin price initially rallied high to hit the crucial resistance levels but it got rejected and fell down. However, it bounced before hitting the lower support to some extent and consolidated for a while. Later another plunge dragged the price to smash the lower support but the buyer prevented the asset from falling into a deep bearish trap. Ever since then the asset has followed a notable uptrend that uplifted the price strongly towards the strong resistance levels.
The LTC price is hovering along with the same levels along with the resistance from since the last trading day. And hence manifesting its strong tendency to continue moving towards the north refusing to deep dive into another bearish well. However, with the release of the Litecoin MWEB upgrade, the price is expected to get impacted with a huge margin.
Source: https://coinpedia.org/price-analysis/litecoin-is-about-to-break-the-crucial-resistance/