After falling to the bottom around 40.50 yuan in June 2022, Letterkin has rebounded by 130% to nearly $100. The main factors are the common improvement in risk mindset and the optimism that Lettern is about to decline in August 2023.

However, technical data show that LTC is likely to erase most of the increases in the coming months.

The price of LTC is marked with super big bear flag?

Mainly due to the large bear flag in the weekly chart, Litecoin will reduce the rate of increase.

"Bear Flag" is a bullish continuation, when prices experience a strong downward trend, consolidate in the rising parallel safe channel. After the price falls below the relatively low moving average, with the increase in trading volume, he will solve the problem in time.

Letterman has been making similar patterns since early June 2022. Previously, the LTC/ dollar has experienced a 70% price adjustment, from $130 to $40.50. Therefore, from a technical point of view, if the price falls below the relatively low moving average, it will start the downward trend from scratch.

Generally speaking, the collapse of the bear market logo in the stock market will cause prices to fall by the same length as the previous one. Using the same setting for Litecoin, the bear market flag of the stock market is expected to fall close to $30.50, about 65% lower than the current LTC price.

The price of Leiter coin is "fake head count"?

As mentioned above, because of the cooling of inflation, the key to the recovery of Lettern's prices is in line with the similar situation in the entire adventure market.

For example, the Nasdaq-100 stock index rose by about 15.50% between October 2022 and January 2023. Similarly, BTC (BTC) has risen more than 50 per cent since its bottom of about $15500 in November 2022.

On January 27th, the weekly correlation coefficient of Litecoin and Nasdaq-100 index was mostly positive, which was 0.35. Similarly, the correlation between the Lettercoin and BTC is now about 0.21.

But Marco Heffler, chief investment officer of UBS Global Wealth-and many other investment analysts-stressed that the ongoing exploration rebound could be a "hoax". To put it simply, the ongoing increase in Letterkin is likely to be temporary under the influence of the risky industry.

Capo of Crypto, a separate investment analyst, agreed and stressed:

"the form of upward movement, the form of detecting (higher duration architecture) resistance. It obviously seems to be under control and there is no complete need. Once again, this is the biggest bull market trap I have ever seen.

Litecoin market has a bright future.

But not everyone is shorting risky assets such as Litecoin. REKT Capital, a popular investment analyst, estimates that Litecoin will rise to $160 in the coming weeks, as shown in the monthly summary chart below.

Notably, the chart shows that LTC prices are facing a strong rebound after trying to resist the upward trend line in the $40-$50 range for many years, which may give it the right to rise further to the $120-$160 range.

The overall goal of this rise had previously been used as support resistance. As a result, raising this important resistance may invalidate the stock market bear market flag setting, which is 54% likely to happen, according to a study by prominent investor Tom Boolean arithmetic Kofsky.