Litecoin Halving Draws Nearer as LTC Corrects Lower For the Next Massive Price Rally

Litecoin (LTC) is one of the top performers in the massive rally over the past weekend. Litecoin recently moved up to the fourth position on the list of top digital currencies by market cap. LTC price started its rally since speculations started spreading about the forthcoming Litecoin halving. Litecoin halving date is drawer closer, about six weeks away, and the digital currency has been responding very well to the bullish news around Litecoin halving. The halving of reward on the Litecoin network – Litecoin halving – is a huge event and almost every digital asset investor is looking forward to it.

The crypto market is currently in a correction phase right now and the price of Litecoin is also down by about 3 percent over the past day. Many digital asset investors believe that the correction in the price of Litecoin is preparing the coin for the next major bull run which is not far from now.

Litecoin Has Enough Support to Trigger the Next Price Rally – Litecoin Price Prediction – Litecoin Halving

Despite the slight decrease in the price of Litecoin, the digital currency still have enough momentum to start a massive price rally soon. The recent announcement about its partnership with Bibox and Ternio to create a new digital currency debit card could serve as support for the next rally. The forthcoming Litecoin halving alone is attracting more digital asset investors to the coin due to the fear of missing out. The price of Litecoin is expected to skyrocket as the Litecoin halving date approaches. It is even expected to be at its peak in the halving month. As such, many digital asset investors don’t want to miss out and they are increasing their LTC holdings. This can be seen in the significant increase in the daily trading volume of Litecoin.

Litecoin Price Analysis – Litecoin Price Prediction 2019 – Litecoin price forecast – Cryptocurrency News Today – Cryptocurrency Market Update

The market cap of Litecoin is $8.4 billion and it is presently around its all-time high. Over the past six months, Litecoin (LTC) is clearly one of the best performers in the digital currency market. It has amassed more gains than Bitcoin (BTC) – the world’s most dominant digital currency – as well as other top digital currencies. The major driver of Litecoin price this year is the Litecoin halving that is set to take place in August. The digital currency is experiencing an increase in demand. It is also drawing demand for Bitcoin (BTC) and other top digital currencies in the market.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$10,587.00
7.17%

Generally, the market of Litecoin is cooling off. The digital currency is currently trading around the $135 mark, and it is holding the fourth position on the list of top digital currencies by market cap. At the moment, buyers are in charge of the LTC market. However, the slight dip in the price of Litecoin is just of the moment as the digital currency is preparing for something big. The bulls are still in control of the market and there is an imminent Litecoin price breakout by the corner.

At the time of writing, the LTC USD price is supported at the $134 mark. The immediate hurdle of the coin is at the $137 mark. A break over this level will pave the way for more gains towards and beyond the $150 mark, which is our short-term Litecoin price prediction.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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