At this point in the crypto cycle, fresh narratives will always outperform more established coins, as investors in Litecoin and Avalanche are discovering.
Litecoin (LTC) price is struggling at a key support level as its price briefly dipped below $60 for the third time this month. Litecoin has been unable to sustain a pump above $68 as months of sideways chop have exhausted even the most bullish Litecoin supporters.
Litecoin risks falling out of the crypto top 20 as its market cap is only just above $4.5 billion. This is dangerous territory for Litecoin and price needs to reclaim the $86 level to establish some much needed positive momentum.
If Litecoin does fall out of the top 20, it will be the first time since December 2020 and would heap further pressure on LTC to perform. Litecoin has not closed above $100 since April 2023.
Meanwhile, Avalanche (AVAX) price recently enjoyed a boost after the blockchain announced an upgrade to enable regulatory compliance for projects building on the Avalanche chain. This bullish announcement also comes on the back of a partnership with global investment platform Republic.
The partnership has seen洶涌澎湃Avalanche's user base soar in recent weeks. Avalanche now looks good for a retest of the monthly highs just shy of $28 as trading activity returned to this popular layer 1 chain.
Avalanche’s 24-hour volume across all exchanges recently surged by over 31%, bringing Avalanche price up over 4% on Monday to hit $24.25.
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