Recently the price of Bitcoin has set a new annual high within a few days and managed to roll a little lower. In light of these developments, the attention of traders shifted a little with the main on cryptocurrencies altcoins. However, while coins from the top 10 of our rankings remain flat in currency pairs with the US dollar.
The exception is Litecoin in the past 24 hours, the value of the asset grew by almost 7 percent, reaching today the lines 136 of the dollar. According to many analysts, the growth of LTC will continue until the reduction of awards for the block of LTC, which is scheduled for August.
Should I buy Litecoin?
This year it so happened that on the weekends most violas suffer only losses. However, LTC still managed to please investors by the local uptrend, so many market players nurture high expectations for the upcoming halving coins. Recall, this event is considered one of the main triggers bullrun Litecoin.
Amid the recent correction of Bitcoin the value of LTC is also “injured” on a local scale — the cryptocurrency is down from the local maximum at the level of $ 145 until a new support line at $ 110. However, today the trading volume on Lateline reached $ 5.8 billion, while market capitalization of the coin rebounded above $ 8 billion.
To halving just over a month: cutting the rewards for the block of LTC is supposed to happen August 5th. While the asset recovered from the recent correction, so now we can safely say about overcoming the annual maximum in a trading pair with the us dollar.
Now the nearest significant level of resistance for the price of Litecoin is in the area of $ 180. Apparently, the bulls will attempt to break this line by the middle of July. If they succeed the first time, the cryptocurrency may well become more expensive, up to $ 225.
Recall the previous halving of Litecoin was held in August 2015. A month before the procedure the price of the coin has increased by almost 400 percent from 1.70 to 8.50 dollars. A similar scenario could be repeated this time — new halving closer every day and the interest of investors in the coin gradually increasing.
Note that after 5 August, the news will no longer be relevant, as many traders will sell their stocks LTC. Try to get rid of the asset before its discharge. Not to miss this moment, stay tuned in our cryptodata of hontarov.
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