X

Robert from Washington, D.C.

Signed up at Coin Bets 777 20 minutes ago.

» Try Coin Bets 777 too
Do not show again

Litecoin (LTC) has advanced more than 50% since June 14, 2023, rising from $71.09 to a high of $114.98. But where is the price of Litecoin (LTC) going next, and what can we expect from July 2023?

The current price of Litecoin (LTC) stands at $101, and despite the current correction, it is important to say that Litecoin recently reached an all-time high in payment usage and daily transactions, which could be an indication that the price could advance again.

Analysts expect Litecoin will likely outperform other altcoins in the near future, and one of the reasons for this belief is its halving event scheduled for August 2, 2023. Today, Crypto Lists will discuss LTC price estimates from a technical and fundamental analysis perspective.

Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk, and how much margin you have if trading with leverage.

Litecoin halving expected to increase volatility

The last two weeks have been a positive period for the cryptocurrency market, and growing speculations around the first Bitcoin ETF approval in the U.S. helped the crypto market bounce. The sentiment has changed a little bit last several hours as weak U.S. and China economic data as well as rising Sino-U.S. tensions, dented investor sentiment.

The U.S. Commerce Department reported that factory orders rose less than expected in May, which increased fears of an economic slowdown due to high-interest rates, especially after data on Monday showed manufacturing slumped further last month.

Litecoin has demonstrated a consistently positive trend in recent weeks, and despite the current correction, it has maintained a positive trajectory. In the upcoming days, Litecoin is expected to experience huge volatility due to its halving event scheduled for 2rd August 2023.

Analysts expect Litecoin will likely outperform other altcoins in the near future, and this would probably be influenced by its upcoming halving when mining rewards are slated to reduce from 12.5 LTC per block to 6.25 LTC per block.

Rating: 9.33/10
Supply: 69,924,556 / 84,000,000
Release date: October 13, 2011

Description: Buy Litecoin and be part of the peer-to-peer payments revolution!

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.


Analysts are positive about Litecoin

Although the event is still four weeks away, the rally may start again because cryptocurrency traders tend to be forward-looking and price the event well in advance. The Litecoin Halving Cycle takes place every 840,000 blocks according to a predetermined Litecoin halving schedule defined in the Litecoin protocol. Two Litecoin halving events have already taken place, the first in 2015 and the second in 2019.

The Litecoin halving in 2015 reduced the Litecoin block reward from 50 LTC each block to 25 LTC each block. The last Litecoin halving event occurred in 2019 dropping the block reward in half from 25 LTC to 12.5 LTC per block.

The crucial challenge for Litecoin lies in gaining sufficient strength to surpass $115, a level at which the coin has historically faced rejection. Popular crypto analyst Benjamin Cowen said that Litecoin has historically advanced in June/July of its halving year, and he made a bullish Litecoin prediction as the halving countdown edges closer.

Litecoin miners also took a bullish stance ahead of the halving event, and according to on-chain data, the miners have been on an accumulation spree since the start of June. According to IntoTheBlock, Litecoin miners have added 270,000 coins to their reserves between June 1 and July 4.

Technical analysis for Litecoin (LTC)

Litecoin (LTC) has been in a positive mood since June 14, advancing from a low of $71.09 to a high of $114.98. The current price of Litecoin stands at $101, and as long the price of LTC is above $90, we can’t talk about a trend reversal, and the price of this crypto remains in the BUY-ZONE.

Technical analysis for Litecoin (LTC)

Important support & resistance levels for Litecoin (LTC)

Important support & resistance levels for Litecoin (LTC)

On this chart (the period from November 2022), I marked important support and resistance levels that can help traders to understand where the price could move. Litecoin (LTC) has weakened from its recent highs, but if the price jumps above $115, the next target could be resistance at $120 or even resistance at $130.

The important support level is $90, and if the price breaks this level, it would be a “SELL” signal, and we have the open way to $85. If the price drops below $80, which represents another important support level, the next target could be $70.

What speaks for the rise in the Litecoin (LTC) price

The amount of LTC traded over the last several weeks saw a significant increase, and the crucial challenge for Litecoin lies in gaining sufficient strength to surpass the $115 price level. One of the reasons for the possible uptick in Litecoin’s price could be its upcoming halving in August 2023, when mining rewards are slated to reduce from 12.5 LTC per block to 6.25 LTC per block.

According to the technical picture, Litecoin (LTC) still has room for the upside, especially if the price of Bitcoin continues to perform well.

What indicates the downfall of Litecoin (LTC)

Litecoin has demonstrated a consistently positive trend in recent weeks, and despite the current correction, it has maintained a positive trajectory. However, investors should continue to take a defensive investment approach as the macroeconomic landscape remains uncertain.

The important support level for LTC stands at $90, and if the price falls below this level, the next target could be $85. The price of Litecoin is also correlated with the price of Bitcoin, and if the price of Bitcoin drops below the $28000 price level, that would certainly have a negative influence on the price of LTC.

What do analysts and experts say?

Analysts expect Litecoin will likely outperform other cryptocurrencies in the near future, moving up higher when the cryptocurrency market rises and seeing a lower downside when cryptocurrency prices move down.

The euphoria around Litecoin is influenced by its upcoming halving in August 2023, when mining rewards are slated to reduce from 12.5 LTC per block to 6.25 LTC per block. Although the event is still four weeks away, the rally may start again because cryptocurrency traders tend to be forward-looking and price the event well in advance.

Popular crypto analyst Benjamin Cowen said that Litecoin has historically advanced in June/July of its halving year, and he made a bullish Litecoin prediction as the halving countdown edges closer.

Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site is presented for educational purposes only and should not be construed as investment or financial advice.

by Our Certified Author
Litecoin Newsflash
    No KYC, no IP logs, 100% fun at LTC Casino anonymous heavenNo KYC, no IP logs, 100% fun at LTC Casino anonymous heaven
    Monday, 26 Feb 2024 8:30 am
    Looking to start your week off in an exciting, adrenaline-fueled way that sets you up for potential big wins and bigger fun? Then look no further than our favorite anonymous casino. Can you guess what it is? That's right: LTC Casino (review). With thousands of games, instant crypto deposits and payouts too featuring BTC, ETH, and of course LTC among others there's simply tons of choice in both payments as well as gaming choices. And the best bit? You can sign up in 10 seconds without any KYC and no IP logging either! Play on LTC today and see for yourself how good...
    Read the full newsflash


    Play Dragon's Lucky 25 anonymously on LTC CasinoPlay Dragon's Lucky 25 anonymously on LTC Casino
    Wednesday, 21 Feb 2024 3:24 pm
    Whether you are Chinese or just love the culture, there is no doubt that their new year celebrations are something to behold. If so, you're gonna absolutely love Mascot Gaming's recent title. Can you guess what it is? That's right: Dragon's Luck 25 (read review) What's more is that this slot has an RTP of 95.30%, which isn't the highest but there's also not super high volatiliy either - so it's steady and super fun rather than adrenaline-fueled craziness. But, there's always something for everyone. If you'd prefer something with super high RTP and sky-high volatility then take a look at all of our game reviews. But if you'd rather get going with Dragon's Luck then why not sign up to LTC Casino - an amazing anonymous site that's got crypto play with a multitude of different coins too. And, instant deposits and withdrawals...
    Read the full newsflash


    LTC Casino: the best anonymous casino of 2023LTC Casino: the best anonymous casino of 2023
    Monday, 8 Jan 2024 1:02 pm
    It's Monday afternoon over here in Europe and that means it's time for some anonymous casino action. And if we're going straight for the top spot then we can't recommend any other than the wonderful LTC Casino (see more). It's been among the firm favorites of Crypto Lists' readers for almost a year now, and we can't see many sites coming close to the crown any time soon - though we've certainly got our positive suspicions about Eth Play (review)! What makes LTC so good? Well, apart from the super speedy deposits and lightning quick withdrawals there's no KYC when you sign up. Not even a date of birth or address is needed. How about when you withdraw funds? None. Amazing, right? There is never, ever a single bit of KYC and you'll never have to worry about a withdrawal being delayed because you didn't upload a document properly. It's simply pick up, play, win, withdraw. Awesome. Sign up to LTC now and if you agree...
    Read the full newsflash


    3 Hot Bitcoin Casino Jackpot Games at LTC Casino3 Hot Bitcoin Casino Jackpot Games at LTC Casino
    Wednesday, 29 Nov 2023 4:28 pm
    Have you played some jackpot games before and want to try the excitement with Bitcoin or other cryptocurrencies? Well, some of the huge Bitcoin jackpots now give out more than 3500 times (!) the bet to lucky jackpot winners. Our favourite crypto casino jackpot games that's available at LTC Casino are the following - in decreasing jackpot order:

    Gold Rush Johnny Cash from BGaming: Win up to 3500 Litecoin (LTC) or equivalent in other cryptocurrencies in their current Mega Jackpot when playing at LTC.

    4 Secrets of Aladdin by Belatra. Currently, this exciting game have 1400 LTC in major progressive jackpot, ready to be won. Are you the lucky one?
    Inca Son from OnlyPlay - Win up to 1000x in this rather high volatility game. All the above BTC jackpot games and another 201 alternatives can be enjoyed at LTC Casino - one of the favourite...
    Read the full newsflash


    Go no-KYC this weekend on the awesome & anonymous LTC CasinoGo no-KYC this weekend on the awesome & anonymous LTC Casino
    Friday, 10 Nov 2023 5:30 pm
    Fancy a bit of Friday fun? We don't blame you. It's been a busy week for most and letting your hair down on a cool crypto casino this weekend is exactly the kind of thing you need. Today we've got a firm favorite to recommend if you haven't signed up there already (you're missing out!). Let us introduce you to - for the second or third time - LTC Casino (review). What we love about LTC is that they always have the latest games from the software providers they work with. And, most of all - you can sign up without any KYC. That's right, absolutely none. Zero. Nada. Whatever your lingo, it's a good thing, right? It means you can get started enjoying the best games right away without having to take snaps of your passport and wait for your address documentation to be verified by an overwhelmed customer support team dealing with a thousand requests. So, ready to get started? Sign up at LTC now and see how quickly you can start winning the biggest prizes on...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
Keep up to date with
 

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
exclusives.
* indicates required
CryptoLists.com
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top