LTC has been among the best performers within the final seven days and could possibly be set for extra rallies over the approaching hours and days.
The cryptocurrency market is slowly recovering from its current hunch, and Litecoin is main the way in which. LTC, the native coin of the Litecoin blockchain, is the perfect performer amongst the highest 20 cryptocurrencies by market cap.
At press time, the price of Litecoin is $78.90 and will rally towards the $90 resistance degree over the subsequent few hours or days.
What’s driving Litecoin’s value increased at present?
LTC has been rallying over the previous couple of days regardless of the poor efficiency of the broader crypto market. The rally started a couple of days in the past after it was revealed that the subsequent Litecoin halving event will happen on August third, 2023.
The Litecoin halving is much like the Bitcoin halving occasion, the place the reward issued to miners for unlocking blocks on a community is lowered by 50% after each 4 years.
The Litecoin neighborhood is already counting all the way down to the halving occasion, which might see the block reward scale back from 12.5 LTC cash to six.25 cash per block post-halving.
LTC is up by greater than 35% within the final seven days and could possibly be set for increased good points quickly.
What’s the outlook for the Litecoin value?
Litecoin may rally increased over the subsequent few hours and days. Its constructive efficiency comes because the broader crypto market recovers from its current hunch, giving Litecoin a lift.
If the bullish momentum is maintained, Litecoin may rally towards the $90 resistance degree over the subsequent few hours or days. A transfer above $100 remains to be potential within the occasion of an prolonged bullish run. It could be the primary time LTC is buying and selling above $100 since June 2022.
Litecoin technical evaluation
The LTC/USD 4-hour chart is bullish, as Litecoin has been performing effectively during the last 24 hours. The technical indicators present that Litecoin is outperforming the broader crypto market.
The MACD line is above the impartial zone, indicating bullish momentum. The 14-day RSI of 73 reveals that LTC may quickly enter the overbought area if the constructive momentum is maintained.
If the rally continues, LTC may surge previous the primary main resistance degree at $89 earlier than the tip of the day. Within the occasion of an prolonged constructive efficiency, LTC may transfer previous the $100 psychological degree for the primary time in almost six months.
How one can purchase Litecoin?
Comply with these easy steps to purchase Litecoin:
Step 1: Open an eToro account:
Go to the official eToro web site and open an account inside a couple of minutes.
Step 2: Fund your account:
Fund the newly-opened eToro account together with your native fiat forex. You may deposit as a lot as you want.
Step 3: Begin buying and selling Litecoin:
You may instantly begin buying and selling Litecoin towards a bunch of different cryptocurrencies like Bitcoin or towards fiat currencies just like the GBP or USD.
The place to purchase Litecoin now
Oanda
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Pacific Union
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Buy LTC with Pacific Union today
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