Litecoin, the digital silver, has had an impressive comeback from its crypto winter low of about $23. Since the price of Litecoin reached this level, cryptocurrency analysts agreed that Litecoin has found a bottom. It started moving higher gradually and has gained by more than 200% since then. Among other things, one of the major reasons why the price of Litecoin was surging is the Litecoin halving. Typically, the price of a cryptocurrency rises significantly months before the halving event. This happened before the last Bitcoin halving and the current Litecoin halving. Now, a Litecoin price prediction on CCN states that the price of Litecoin will surge by 140% within less than three months.
Litecoin Price Prediction 2019 – Litecoin News Today – Litecoin Halving Will Fuel A Litecoin Bull Run
If the price of Litecoin rises by 140% from its current level, it is going to hit the $220 mark. According to the Litecoin price prediction 2019, the price of Litecoin will surge as high as $220 as a direct result of the highly anticipated Litecoin halving event. During the Litecoin halving, the block reward miners get will be reduced to 12.5 from 25. The Litecoin halving will lead to reduced inflation, anticipation of a price increase after the halving from investors, and increased buying pressure which amounts to a surge in price.
Litecoin (LTC) Price Today – LTC / USD
The Litecoin halving event is going to happen in the first week of August. Even if this is just three months ahead, the price patterns are already looking bullish. The key resistance at this time is at $100. Litecoin has been trying to surge above this resistance for months now without success. If it is finally able to cross it and hold its ground above it, more gains will come near-term. There is an ascending triangle pattern which indicates an uptrend immediately after the price consolidation. The 100-day MA is below the 50-day MA and the 200-day MA is above the 100-day MA.
The price of Litecoin will most likely move as high as $175 as indicated by the inverted head and shoulder pattern. When it gets to the $175 level, it is going to consolidate there for a while before finally moving above the $220 level. The most important thing is crossing the $100 mark. After $100, there will no be significant resistance until the price of Litecoin gets to $220. When Litecoin finally crosses $220, we will confirm that the extended downtrend for LTC is finally over.
Litecoin Price Prediction 2019 – Litecoin News Today – Current Price Of Litecoin
At the time of writing, the price of Litecoin was consolidating at $87.56. This means that it is down by 4.04% against the USD and down by 0.46% against the price of BTC. The trading volume over a 24 hour period is $3,518,170,989 and the market capitalization is $5,419,259,863. Within the next few days of trading, the price of Litecoin will start moving higher against the USD. Right now, it is important to note that LTC is falling as a result of a general price consolidation in the market. Bitcoin is also in red along with most of the altcoins on coinmarketcap.com.
What do you think about the Litecoin price prediction 2019? Will the Litecoin halving lead to a 140% surge in the price of Litecoin? Share your thoughts in the comment section below.