0
📈 Price Predictions
434 views

Litecoin Price Analysis — Can the Upcoming Halving Push the Price to $150?

  • Denys Serhiichuk
    📈 Price Predictions

    After spectacular growth, Litecoin is moving even higher. Does LTC have strength for a new bull run before halving?


Litecoin Price Analysis — Can the Upcoming Halving Push the Price to $150?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

While the cryptocurrency market is waiting for a new bull run or a potential decline, Litecoin keeps going up. Currently, its quotes have increased by almost 4% over the last day; it is the only coin out of the top 5 who has not lost the value compared to its price yesterday.

Litecoin chart by CoinMarketCap

Besides the upcoming halving, the price increase might have been caused due to the partnership of Litecoin Foundation with the Bibox exchange and the blockchain-company Ternio, whose goal is to issue a plastic cryptocurrency debit card.

“The upcoming LTC reward halving will push price to $160-$170 per LTC in the middle of July, but for 1 week before halving will happen we are waiting that traders will start to fix their profit and price will have a correction on $120-$130 price level,” says Artur Dzhalilov, CEO at Vexel.

Now, let’s get to the chart to analyze the future LTC rate.

 LTC/USD chart by TradingView

On the hourly graph, the "digital silver" is located under the bullish tendencies, even after a prolonged bull run. In this case, traders might expect the price to be at the nearest resistance level of $140 in the short-term scenario. The RSI indicator confirms it, as its lines are moving north, to the oversold area. Moreover, it looks like trading volumes are not going to decrease, remaining at their maximum positions.

LTC/USD chart by TradingView

On the 4-hour chart, the scenario looks less favorable, as Litecoin has still not faced an expected rollback. The MACD indicator is bearish, confirming the upcoming price drop.

👉MUST READ

LTC Price Prediction: $150 by Summer. How Will the Halvening Impact LTC’s Price?

LTC Price Prediction: $150 by Summer. How Will the Halvening Impact LTC’s Price?

Besides, the trading volumes had also declined compared to the time when LTC rocketed from the 6th place to the 4th in the global crypto ranking. Taking it into consideration, the correction might push the price back to the nearest support at $125.

The price of LTC is trading at $137.62 at the time of writing.

Cover image via 123rf.com
Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings