The instability of the stock market over the last couple of weeks has had little impact on Litecoin. Cryptocurrency retreated slightly from its year high, but investors still expect high profit from it. All because of the upcoming halving LTC, which is scheduled for August. Analysts suggest that the price of the coin will grow at least twice on expectations of this event.
At the moment Litecoin is trading at 113 dollars. For the past day the price of the cryptocurrency is practically not moved. By the way, the last seven days Litecoin rose the most of the top 10 coins by market capitalization.
A rocket to halving
Now the main resistance level for LTC remains line $ 120 — its breakthrough will be the beginning of a new wave of growth of the cryptocurrency. On a long-term chart of Litecoin formed a triangle. Most likely it will be broken up, says the cryptanalyst Luke Martin.
I never noticed that before halving Litecoin left only 60 days. Today the price increased by 5 percent in an attempt to break through the limits of consolidation. I think, the asset may rise above the local maximum 0,0182 — shopping paired with BTC.
I was sleeping on the $LTC halvening being only 60 days away now.
Price is up 5% today, breaking out of consolidation. I think it could go higher than the most recent swing high .0182.
Props to @ThinkingUSD & @trader1sz remember seeing them on it early. pic.twitter.com/f6RyLNXj99
— Luke Martin (@VentureCoinist) June 6, 2019
From Financial Survivalism has more optimistic forecast. The expert explained that, historically, Litecoin reached a peak value a few days after cutting back the rewards for the block. In the next few months, the cryptocurrency is can jump up to 0,026 BTC on the background of positive news.
LTC reached a new high a few days after halving 2015. Then began draining and cryptocurrency tested the lower line of the rising channel. I think this year we can expect a similar scenario. Over the next few months an asset will rise to the upper channel line, and then return to the line 0,011 BTC.
$LTCBTC peaked days after $LTC halved in 2015. It proceed to selloff leading up to and following the $BTC halving. I think we will see similar price action in 19-20. If so then #LTCBTC would return to the top of the channel over the next couple months before retesting ~0.011. pic.twitter.com/vXz5KcuE2k
— Financial Survivalism (@Sawcruhteez) June 8, 2019
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