Litecoin (LTC), one of the oldest cryptocurrencies, is challenging the bear market we are in. LTC has gained close to 50% in the last 30-day period.
Bitcoin (BTC) with FTX crash, $18,500 had broken the important support at the levels downwards. However, many altcoins There have been great declines. However, these days when the bear season is at its deepest, Litecoin, quickly made up for the recent drop.
Cryptocurrency analytics firm Santiment said that this rise in Litecoin will increase accounts holding large amounts of LTC. commented. past in a 14-day period large wallets, approx. $42.4 million LTC collected. For the first time since May $80 level LTC, which rises above it, continues the rise. a sign that he will looks like.
Like Bitcoin, Litecoin also shrinks in mining rewards every 4 years. Halving in 2015 and 2019 LTC has risen above these periods. With the next halving expected to take place in August, Litecoin is expected to experience a larger rally.
LTC Technical Analysis
both 200 and 50 days LTC hovering above its moving average, 60 and 74 dollars broke the resistance levels hard. If Litecoin stays above these levels, 105-110 It is expected to rise to dollar levels.
In case of a decrease, the crypto money, 57-60 dollars seems likely to find a buyer. While most of the cryptocurrencies that had a big drop with the Terra crash are still below those levels, LTC reached its highest level since May.
- The data contained in the content is definitely not investment advice.
