LTC has been top-of-the-line performers within the final seven days and may very well be set for extra rallies over the approaching hours and days.
The cryptocurrency market is slowly recovering from its latest stoop, and Litecoin is main the way in which. LTC, the native coin of the Litecoin blockchain, is the very best performer amongst the highest 20 cryptocurrencies by market cap.
At press time, the worth of Litecoin is $78.90 and will rally towards the $90 resistance stage over the subsequent few hours or days.
What’s driving Litecoin’s worth increased in the present day?
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 much like the Bitcoin halving occasion, the place the reward issued to miners for unlocking blocks on a community is decreased 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 may very well be set for increased positive factors quickly.
What’s the outlook for the Litecoin worth?
Litecoin might rally increased over the subsequent few hours and days. Its optimistic efficiency comes because the broader crypto market recovers from its latest stoop, giving Litecoin a lift.
If the bullish momentum is maintained, Litecoin might rally towards the $90 resistance stage over the subsequent few hours or days. A transfer above $100 remains to be potential within the occasion of an prolonged bullish run. It will 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 over the past 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 exhibits that LTC might quickly enter the overbought area if the optimistic momentum is maintained.
If the rally continues, LTC might surge previous the primary main resistance stage at $89 earlier than the tip of the day. Within the occasion of an prolonged optimistic efficiency, LTC might transfer previous the $100 psychological stage for the primary time in almost six months.
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 foreign money. You possibly can deposit as a lot as you need.
Step 3: Begin buying and selling Litecoin:
You possibly can 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
OANDA is the trusted title for Foreign exchange and CFD buying and selling. Since 1997 OANDA has established a popularity for truthful and clear pricing and responsive customer support. Straightforward account opening course of.
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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 revolutionary buying and selling facility for property 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.
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