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May 22, 2024
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Litecoin Halving Prediction: LTC Price Poised To Hit $120 Soon

The post Litecoin Halving Prediction: LTC Price Poised To Hit $120 Soon appeared first on Coinpedia Fintech News

The Litecoin (LTC) market has continued to record high trading volume as speculative traders and miners accumulated at current levels. Notably, Litecoin miners have increased their on-chain activity with speculation on halving rallying taking center stage.

Additionally, crypto asset traders have been speculating on Litecoin prices as depicted by the high trading volume compared to other altcoins of its caliber. According to the latest crypto market data, Litecoin had a 24-hour traded volume of about $461,897,500, and its open interest more than tripled YTD.

Litecoin (LTC) Price Action

According to a Litecoin analysis by a popular crypto analyst popularly known as Captain Faibik, the LTC price is en route to $120 fueled by the halving FOMO pump. With the Litecoin halving scheduled less than two weeks from publication time, some crypto traders argue the event has already been priced in. However, Captain Faibik argues that it is only a matter of time before a major breakout pushes the third-largest PoW-secured digital asset to new highs in 2023.

Also Read: Bloomberg’s Insider Reveals a Game-Changing Twist in Bitcoin ETF Approval!

Notably, the weekly LTC/USD price action shows that Litecoin is still under the confines of a macro-falling trendline. Similarly, the Litecoin/Bitcoin weekly chart has had a diminished loss since 2017, depicting a possible reversal. However, some crypto analysts led by Benjamin Cowen have argued that the Litecoin market will not moon until 12-18 months after the August halving event.

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