Litecoin started the year bullish against the USD. In fact, the price of Litecoin has been recovering against the USD since it hit its cryptocurrency winter low of $23. Between then and now, the Litecoin price rose by more than 200%. Unfortunately, the bulls ran out of steam and Litecoin was unable to move above the resistance at $100 staying in the $50 to $85 range for weeks. In our previous Litecoin news, we said that there is a high chance that the price of Litecoin will rise by 140% ahead of the Litecoin halving. With the current price action of Litecoin, this prediction is concrete.
Litecoin Price Prediction 2019 – Litecoin 2019 – Litecoin Halving – Litecoin News Today – Litecoin Price Up By 13% Amid Market Recovery
About right days ago, the price of Litecoin was able to touch the $100 according to the Litecoin price analysis on CCN. Today, Litecoin was able to touch this level again as the entire market started recovering the the price of Litecoin led the top altcoins in the cryptocurrency bull rally. Earlier this morning, Litecoin price touched the $107.60 level. The trading volume and market capitalization is Litecoin also improved accordingly. The latest move by Litecoin was enough to regain all the losses the cryptocurrency has suffered over the last few weeks.
Litecoin (LTC) Price Today – LTC / USD
As stated above, one of the major factors that primed Litecoin for such a significant surge against the USD is the upcoming Litecoin halving event which is going to take place on the 6th of August. When it happens, the block reward for miners will be reduced by 50% from 25 to 12.5 LTC. Historically, the price of a cryptocurrency spikes months ahead of the halving event because it reduces inflation and supply of the asset. This is why the performance of Litecoin throughout the year has been impressive.
Litecoin Price Prediction 2019 – Litecoin Price Forecast – Litecoin News Today – Current Price Of Litecoin
At the time of writing, the price of Litecoin was $99.69. This means that it is up by 13.06% against the USD and up by 8.99% against the price of BTC. The trading volume over a 24 hour period is $4,716,849,418 and the market capitalization is $6,172,127,632. It is correcting lower at this time but this doesn’t mean the bull run is over. If the bulls push higher, the next target will be $110.12. If the price of Litecoin is able to cross and hold its ground above $110.12, it will not find any major resistance until it hits the $182.66 level. The last time the price of Litecoin was that high was in May 2018.
On the other hand, if the price of Litecoin breaks below the 50-day moving average, it will most likely fall as low as $63.91 mid-term. Losing this support will take the price of Litecoin as low as $59.90. However, a surge upward is looking more likely than a fall. With the current positive sentiment in the market and the Litecoin halving on the way, it’s unlikely that Litecoin will fall as low as $59.90 near-term.
What do you think about the Litecoin price prediction 2019 in our Litecoin news today. Share your thoughts in the comment section below.