Litecoin, the lite version of Bitcoin, and the first altcoin which is still in trade are slowly ranging high with making noise. After a gigantic drop during the May crash, the LTC price seemed to be too calculative in order to pull the next leg up. And hence the asset is following a specific pattern and with this structure, Litecoin price may regain its lost positions pretty much close to its ATH at $417.
The asset despite being one of the most primitive crypto assets remained silent for a pretty long time. And ever since the altcoins rally was ignited in the first half of 2021 that led the price to form a new ATH. Further, the asset slumped multiple times, but yet sustained above the strong support level.
The LTC price as mentioned in the above chart is pretty clear about the upcoming jump. The asset spike in between a minor consolidation each time. While the surge percentage is pretty huge, the consolidation fuels up the asset to move with high with notable margin. The LTC price after a gigantic surge accumulates for a little prolonged period and sets up a massive leg. Further to nullify the exhaustion, the asset also experiences a minor correction.
Currently, the asset is consolidating after surging towards the monthly highs. And hence according to the pattern, a notable drop close to the immediate support levels around $150 appears to be on track. However, the LTC price is pre-programmed to flip the downtrend and march towards its ATH just above $300. And hence Litecoin especially known for its calculated move could smash considerable highs and also minimize corrections remarkably.