LTC has been among the best 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 hunch, and Litecoin is main the best way. LTC, the native coin of the Litecoin blockchain, is one of the best 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 following few hours or days.
What’s driving Litecoin’s value larger at the moment?
LTC has been rallying over the previous couple of days regardless of the poor efficiency of the broader crypto market. The rally started a number of days in the past after it was revealed that the following Litecoin halving event 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 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 may very well be set for larger beneficial properties quickly.
What’s the outlook for the Litecoin value?
Litecoin might rally larger over the following few hours and days. Its optimistic efficiency comes because the broader crypto market recovers from its latest hunch, giving Litecoin a lift.
If the bullish momentum is maintained, Litecoin might rally towards the $90 resistance degree over the following few hours or days. A transfer above $100 continues 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 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 degree at $89 earlier than the top of the day. Within the occasion of an prolonged optimistic efficiency, LTC might transfer previous the $100 psychological degree for the primary time in practically six months.
The way to 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 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
eToro
eToro provides a variety of cryptos, equivalent to Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro customers can join with, study from, and replica or get copied by different customers.
Bitstamp
Bitstamp is a number one cryptocurrency alternate which provides buying and selling in fiat currencies or common cryptocurrencies.
Bitstamp is a totally regulated firm which provides customers an intuitive interface, a excessive diploma of safety in your digital property, glorious buyer help and a number of withdrawal strategies.