Fundamental analysis presents the price features of LITECOIN in the last two months of 2022. It analyzes the price performance of LITECOIN during the bearish period.
In this article LITECOIN will be used interchangeably with its mnemonic (LTC). One thing I have noticed about analysis of some asset I personally carried out is a change in price due to the general bear market this happened in HIVE and BITCOIN analysis.
Date by price analysis (Line graph)
Below is a line graph showing the date and price of LTC in November and December, 2022.
A noticeable feature is rugedity of its price, in those two months the price of LITECOIN had a fall and a rise altogether despite in this bearish season. It is visible that in the month of November, 2022, there was a drop in price of LTC below $60 in the second week but a recovery occurred in the month of December, 2022.
In the month of December, 2022, there was also a rise of LTC price to recover from the loss during the first week of December and currently the price is still on point to the usual.
Maximum and minimum price of LITECOIN
The table below presents the maximum and minimum price of LTC throughout the duration of November – December, 2022.
The maximum price of LTC for that period was $83.12 and $53.60 for minimum.
The lowest price occurred in the month of November second week but for December; the price has not been below $60 but still aims at $70.
More of price analysis can also be measured with a boxplot diagram.
Boxplot of LITECOIN price
Below is a boxplot showing the price of LITECOIN price.
In previous analysis there exhibits instance of outliers or extreme high or low price of an asset but the case of LITECOIN doesn’t follow such pattern indicating it’s the normal and standard price. Extreme values for price are indicated to identify cases of significant change in price of an asset, but the case of LTC doesn’t show any significant change and all price are been regarded as normal.
In addition, the indication of extreme prices on boxplot shows probably the asset maybe going through bearish or bullish season but despite we are in the bearish period the price of LITECOIN still maintains a regular pattern without a significant change, Kudos to its investors.
Conclusion
In this article, there was an analysis of LITECOIN price for the month of November and December, 2022, it was discovered that despite in the bearish period which affected most asset, LITECOIN still remains unaffected and had its lowest price in November, 2022 but for December, the price has been soaring back to $70. There was no significant change in the price of LTC during the period as boxplot diagram shows no extreme value despite the period. We can conclude that LTC survived the bearish period. However other assets from my analysis which were affected in the bear market include Bitcoin, Hive, BNB e.t.c