The price of Litecoin has had a pretty nice year so far. Litecoin USD price has grown enormously this year, with an increase of more than 200% over the past five months. The crypto market has been on a rollercoaster ride over the past months. After posting massive gains last week, the crypto market is currently in the red.
Some digital currencies are even down by more than 10 percent over the past day. This might push some digital asset investors to pull out their holdings. However, it is worth noting that there is an imminent bull run that could send the price of Litecoin to the moon. Litecoin price prediction is very bullish, and the digital currency is expected to continue testing new highs in the coming months.
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Can Surge by Almost 150% In the Next Three Months, Here’s why
There is a vital upcoming event that could see the price of Litecoin skyrocket by $140 in the next couple of months. This even might push the price of Litecoin towards and over the $220 level. If this happens, that would be the highest level of Litecoin price over the past twelve months. The event that could trigger such a massive price rally is the forthcoming long-awaited halvening. This halving aims to reduce the block reward of Litecoin by 50 percent, from 25 LTC to 12.5 LTC.
Over the past years, halvenings have proven to be very bullish catalysts for many digital currencies. Whenever the block reward of a digital currency is reduced, it creates some sort of scarcity and results in an increase in the price of the digital currency.
Litecoin Shows Several Bullish Signs – How Far Can the Price of Litecoin Go in the Next Few Months?
The halving of Litecoin’s block reward is expected to take place on the 6th of August. The halving is yet to take place, but the price of Litecoin (LTC) has already tripled this year. Based on the technical indicator of the coin, Litecoin rally still has a lot of momentum. At the moment, the digital currency is facing strong resistance at the $100 mark. Nevertheless, the bulls seem determined to push the price of Litecoin over this level.
After $100, the Next Major Resistance Would be the $220 Mark
If Litecoin price breaks over the $100 mark, the digital currency will likely not face any other major resistance until the $220 level. A break over that would indicate the end of the long-term downward trend of Litecoin. This trend will attract digital asset investors, trend followers, and breakout traders. Litecoin might encounter a challenge around the $180 mark. However, it might not spend much time around that level. Litecoin’s halvening is around the corner, and this trend might be seen in the short-term.
LTC Price Analysis – Litecoin Price Prediction 2019 – Litecoin Price Analysis – Litecoin News Today – LTC USD Price Today
At the moment, Litecoin (LTC) is strongly supported at the $84 mark. On the upside, the immediate resistance of the coin is at the $90. However, the major hurdle of the coin is at the $100 mark. LTC USD live price is $86 after a decrease of about five percent over the past twenty-four hours.