LTC has been among the finest 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 stoop, and Litecoin is main the best way. LTC, the native coin of the Litecoin blockchain, is the most effective performer amongst the highest 20 cryptocurrencies by market cap.
At press time, the value 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 larger at this time?
LTC has been rallying over the previous couple of days regardless of the poor efficiency of the broader crypto market. The rally started just a few days in the past after it was revealed that the subsequent Litecoin halving occasion will happen on August third, 2023.
The Litecoin halving is just like the Bitcoin halving occasion, the place the reward issued to miners for unlocking blocks on a community is diminished by 50% after each 4 years.
The Litecoin group is already counting right down to the halving occasion, which might see the block reward cut 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 larger beneficial properties quickly.
What’s the outlook for the Litecoin value?
Litecoin may rally larger over the subsequent few hours and days. Its constructive efficiency comes because the broader crypto market recovers from its current stoop, 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 attainable within the occasion of an prolonged bullish run. It might 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 properly 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 practically six months.
How you can purchase Litecoin?
Observe 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 need.
Step 3: Begin buying and selling Litecoin:
You may instantly begin buying and selling Litecoin towards a number of different cryptocurrencies like Bitcoin or towards fiat currencies just like the GBP or USD.
The place to purchase Litecoin now
Oanda
OANDA is the trusted title for Foreign exchange and CFD buying and selling. Since 1997 OANDA has established a status for honest and clear pricing and responsive customer support. Simple account opening course of.
Purchase LTC with Oanda at this time
Pacific Union
Since being based in 2015, Pacific Union has grown right into a world-leading on-line dealer. We provide 200+ merchandise, while delivering an progressive buying and selling facility for belongings resembling foreign exchange, indices, commodities, shares and cryptocurrencies. As a service-focused, international on-line buying and selling brokerage, we offer multilingual providers to 120 nations and areas.
Purchase LTC with Pacific Union at this time
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