Per the data, Litecoin's LTC token has bounced back 2.37% over the past hour to reach $91.34. LTC has a market cap of $6.55B and saw $538.81M in trading over the past 24 hours.

In the past day, Litecoin's price dropped 1.10%. However, it is up 0.72% in the past week and 2.51% for the month. Over the last 6 months, LTC has managed a slight gain of 2.21%.

Analyzing the data, Litecoin looks to be stabilizing around the $90 level after bouncing from yesterday's decline. Trading volume is moderate relative to LTC's market cap. The price action suggests LTC may be settling into a range, lacking a clear catalyst in either direction.

However, LTC does seem to have established a base of support around $85. As long as it holds this level, further upside seems likely. Resistance appears around $95 and $100. A breakout above $100 could signal a bullish breakout toward Litecoin's previous 2022 high around $140.

Overall, Litecoin's technical picture remains neutral to mildly bullish. Patience may be required for a major move, but the data suggests upside potential if key support levels hold. Traders should watch volume for confirmation of any breakouts.

How Could MimbleWimble Privacy Upgrade Impact Litecoin's Price?

Litecoin's upcoming MimbleWimble privacy protocol upgrade, expected in 2023, will bring enhanced transaction privacy and fungibility to LTC. This makes Litecoin more appealing for sensitive transactions and could boost usage and demand.

If successfully implemented, MimbleWimble is likely to be a long-term bullish catalyst for Litecoin. Improved privacy and fungibility strengthens Litecoin's value proposition as "digital silver" and complement to Bitcoin.

However, the upgrade may bring short-term price volatility around the event. Some traders may sell the news. But if Litecoin can deliver the new privacy features smoothly, it should support a long-term uptrend by catering to a wider user base. Traders should watch adoption metrics after launch.

Overall, MimbleWimble has substantial speculative potential if Litecoin can differentiate itself in the privacy coin space. This could provide the catalyst LTC needs to revisit its previous all-time high around $400.

crypto-market">Is Litecoin Undervalued Compared to the Rest of the Crypto Market?

Despite being a top 10 cryptocurrency, Litecoin's market cap and price action lag meaningfully behind "blue chip" coins like Bitcoin and Ethereum. As a Bitcoin fork sharing similar technical attributes, there is an argument LTC is undervalued relative to the broader crypto market.

Some potential factors for this include Litecoin's lower brand recognition and adoption compared to Bitcoin, less active development than Ethereum, and a lack of major institutional investment so far. Litecoin also faces stiff competition from newer smart contract platforms.

However, Litecoin remains popular for payments and transactions. Upgrades like MimbleWimble and the Lightning Network's maturation may close Litecoin's valuation gap compared to top cryptocurrencies over the long-term if it can carve out a clearer niche. But lack of hype likely contributes to holding LTC price back presently. Significant upside potential exists if perceptions shift.