Last 10 Days to Litecoin Halving Event: What are the Expectations for LTC?

  • Markets seem to be preparing for the upcoming Litecoin Halving event, with popular tokens trying to end the week with a bullish close.
  • The price of Litecoin continues to fluctuate within a predetermined range, without triggering either a bullish movement or a bearish exit.
  • Although there is potential for Litecoin’s price to rise after the Halving event, the likelihood of holding onto gains for a long period of time may be low.

Only 10 days left until the Litecoin Halving event; the number of wallets holding at least 100 LTC is increasing, so how will it affect the LTC price?

Only a Short Time Left for the Litecoin Halving Event

litecoin-ltc

Markets seem to be preparing for the upcoming Litecoin Halving event, with popular tokens trying to end the week with a bullish close. The value of most cryptocurrencies such as Bitcoin, Ethereum, and XRP is being maintained solidly above recurring support levels, despite the recent downward trend. Therefore, a positive reaction is expected from the markets after the event, and prices are securing intermediate resistance levels.

Meanwhile, the price of Litecoin continues to fluctuate within a predetermined range, without triggering either a bullish movement or a bearish exit. Therefore, the possibility of being less affected by the Halving event increases. Additionally, data from Santiment, a popular on-chain platform, shows that more traders are participating, which could lead to increased buying pressure in the coming days along with the Halving event.

litecoin-on-chain-moving

According to the data, 1,185 addresses holding at least 100 LTC have been added, reaching a total of approximately 36.6 thousand wallets. Therefore, the enthusiasm of traders is significantly increasing due to the chance of a bullish breakout from the event. The platform has also recently shared crowd calls reflecting market sentiment. Currently, there are a high number of bullish market calls, which could cause a significant increase in the token’s value. However, there is also fear that prices could drop immediately after this increase.

Interestingly, bear market calls are also increasing, which could drive prices to higher levels in the coming days. Therefore, market conditions are still uncertain as traders’ sentiments are aligned in both directions. Therefore, although there is potential for Litecoin’s price to rise after the Halving event, the likelihood of holding onto gains for a long period of time may be low.

LTC Halving Excites Bitcoin Investors

The Halving event, expected to take place on August 2nd in Litecoin, is anticipated for Bitcoin on June 13th, 2024. The Halving event halves the block rewards for miners, signifying a halving. The incredible rise in LTC price as the Litecoin Halving event approaches has also raised expectations for Bitcoin.

The LTC price reached up to $114 on July 3rd, reaching the highest level since April 2022. Investors who expect the same performance for the Halving event in Bitcoin are focused on the Bitcoin Halving event in 2024. The Halving event, which will take place in 2024, will be Bitcoin’s 4th halving event, and rewards will decrease from 6.50 BTC to 3.25 BTC.

Although the Bitcoin Halving event is expected to pose challenges for miners, investors still believe it will lead to a bullish rally, and one of the biggest factors fueling this belief is the rally in Litecoin.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Price Surge Predicted: Analyst Sees BTC Hitting $650,000 Fueled by ETFs

Get the latest insights on Bitcoin's potential trajectory – could the dominant cryptocurrency surpass gold's market cap and reach new heights?

Bitcoin Halving to Spark Supply Shock, Says Samson Mow – Omega Time Ahead?

Influential Bitcoin advocate Samson Mow offers a bullish outlook on Bitcoin's future, citing the upcoming halving and growing ETF inflows as key drivers. Here's why he believes the current market turbulence could lead to a surge in BTC price.

Bitcoin Price Plunge Continues: Analysts Predict Further Drops to $59K

Bitcoin's rollercoaster ride continues, with experts weighing in on where the bottom might lie. Get the latest price analysis, predictions, and insights into what these movements could mean for your crypto portfolio.

Bitcoin and Altcoins Face Correction Risk as Rate Cut Expectations Decline

Discover why Bitcoin and other cryptocurrencies may be on shaky ground, as economic indicators point to a potential market correction. Get expert insights on shifting market dynamics and what it could mean for crypto investors.

Bitcoin Price Outlook Dims as Crypto Stocks Slump, Peter Schiff Raises Doubts

Get the latest insights on the bearish trend in crypto markets, Peter Schiff's skepticism, and the impact on Bitcoin's price potential.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Will WLD See $11 Again? Current WLD Analysis

WLD coin's daily technical analysis provides direction for long-term traders by indicating support and resistance levels.

Where Will NEO’s Rally Continue? Updated NEO Analysis 15 April

NEO gained strength from the support levels determined in the previous analysis and rose to its current price of $22.66, targeting $25.

Is DYDX Ready to Start a New Rally? Latest DYDX Analysis 15 April

Following its recent fall, DYDX rebounded strongly to $2.28, and it is indicated that if it can sustain 3-day candle closes above this resistance level, the upward trend may continue.

Is Solana in a Long-Term Buy Zone? Current SOL Analysis 15 April

Following its recent decline to $118, Solana surged back to $145 with robust purchases; for long-term investors, the $132.40 to $121.36 range is seen as potential buying areas.

Will ARB Start Its Ascent? Latest ARB Analysis 15 April!

According to the analysis of ARB coin, staying above $0.98 could set it on a path to reach $1.90.
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Litecoin Price Analysis: LTC Shows Bullish Signals Against BTC, Could a Run Be Imminent?

Get the latest insights on Litecoin's price trajectory, including key support/resistance levels and expert analysis for informed trading decisions.

Litecoin (LTC) Surges in Popularity, Surpassing 5 Million Long-Term Holders

Discover the reasons behind Litecoin's surge in popularity and why investors are increasingly choosing LTC for long-term holdings. Get insights into the future potential of this established cryptocurrency.

Bitcoin, Litecoin Price Potential Surges as COINOTAG PRO Reports 115% ROI with 4x in Last 90 Days

Discover how COINOTAG PRO leverages strategic trading to maximize returns for high-volume crypto investors.