LTC Price Analysis : Litecoin Price Likely to Break $100 Barrier Before August Halving
The post LTC Price Analysis : Litecoin Price Likely to Break $100 Barrier Before August Halving appeared first on Coinpedia Fintech News
The Litecoin (LTC) market remains one of the top-traded altcoins in the market with a 24-hour volume of about $756 million. Additionally, Litecoin’s open interest in the past 24 hours totaled a whopping $305 million, which indicates an increased demand from crypto traders. Exchanging around $84.72 on Wednesday during the early London session, the Litecoin community is counting less than 36 days to the third halving, which is scheduled for August 03, 2023.
Litecoin Price Analysis
As the third largest proof-of-work (PoW) secured blockchain with about $7.1 billion in fully diluted valuation (FDV), Litecoin price is poised for more volatility in the coming months amid high-impact news. With increased on-chain activity, experts forecast the bullish outlook will subdue the bears before the end of the year.
“…, it seems more likely to us that the Litecoin price will break out of this consolidation to the upside. We have set a price range of $128-136 as the first place where we could cover some of our longs and take profit on medium-term trades,” P_S_trade noted on TradingView.
According to the analyst, Litecoin’s price is about to break out of a macro-falling trendline towards $173 before the end of this year. However, the analyst noted that a retest of the resistance line as a support level is likely to occur before the halving event.
