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LTC has been top-of-the-line performers within the final seven days and could possibly be set for extra rallies over the approaching hours and days.
The cryptocurrency market is slowly recovering from its current hunch, and Litecoin is main the way in which. LTC, the native coin of the Litecoin blockchain, is the very 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 subsequent few hours or days.
What is driving Litecoin’s value larger right now?
LTC has been rallying over the previous couple of days regardless of the poor efficiency of the broader crypto market. The rally started a few days in the past after it was revealed that the subsequent 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 decreased 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 could possibly be set for larger features quickly.
What’s the outlook for the Litecoin value?
Litecoin might rally larger over the subsequent few hours and days. Its constructive efficiency comes because the broader crypto market recovers from its current hunch, giving Litecoin a enhance.
If the bullish momentum is maintained, Litecoin might rally towards the $90 resistance degree over the subsequent few hours or days. A transfer above $100 remains to be attainable within the occasion of an prolonged bullish run. It can 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 effectively 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 reveals that LTC might quickly enter the overbought area if the constructive 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. In the occasion of an prolonged constructive efficiency, LTC might transfer previous the $100 psychological degree for the primary time in almost six months.
How to purchase Litecoin?
Follow these easy steps to purchase Litecoin:
Step 1: Open an eToro account:
Visit the official eToro web site and open an account inside a jiffy.
Step 2: Fund your account:
Fund the newly-opened eToro account together with your native fiat foreign money. You can deposit as a lot as you need.
Step 3: Start buying and selling Litecoin:
You can instantly begin buying and selling Litecoin in opposition to a host of different cryptocurrencies like Bitcoin or in opposition to fiat currencies just like the GBP or USD.
Where to purchase Litecoin now
eToro
eToro presents a wide selection of cryptos, reminiscent of Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro customers can join with, study from, and duplicate or get copied by different customers.
Bitstamp
Bitstamp is a main cryptocurrency alternate which presents buying and selling in fiat currencies or fashionable cryptocurrencies.
Bitstamp is a absolutely regulated firm which presents customers an intuitive interface, a excessive diploma of safety on your digital belongings, glorious buyer help and a number of withdrawal strategies.
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