- LTC price holds above $80 as this has proven to be a key region for buy orders for whales
- LTC sees a surge in accumulation as speculation points to price rallying ahead of halving in
Litecoin (LTC) has had a great price action in the past few weeks leading up to its halving as the price has moved from a region of $35 to a high of $105 before facing resistance to breaking higher.
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The price of Bitcoin (BTC) has remained in a range price movement for weeks now as this has affected the general momentum of the market; the price of BTC dropped from $27,500 to a low of $26,200 as the price of LTC and other notable crypto assets dropped in price except some Asian tokens that have gained so much traction like ARPA rallying by over 70% in less than 24 hours.
What Is Litecoin Halving
Litecoin halving is a programmed event that happens every 4 years. Litecoin’s block with an initial value of 50 LTC is reduced to limit the total amount of LTC in circulation, leading to higher demand and price.
The block reward for Litecoin will be halved from its current value of 12.5 LTC to 6.25 LTC. By 2142, halving will come to an end.
For every halving, there is high speculation of the price of an asset rallying by two times its initial amount and highlighting much demand as many know the significance of every halving.
Is Bitcoin Halving Good For Investors?
Bitcoin halving will happen in 2024 and is always good for many investors as there is a high chance of making up to 300% on your capital as a return after every BTC halving highlighting the huge impact halving usually have for major crypto assets.
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LTC Price Chart Analysis
Litecoin’s price has shown great price action holding well above the high of $80 as this region has proven to hold and acted as a demand zone for many buyers and investors ahead of its halving in less than 69 days.
The price of LTC needs to break past the region of $105 to show real firepower to rally to a region of $150 and higher to a region of $200. The LTC halving will remain a catalyst for the price of LTC in the coming weeks as the price would show many price actions.