Litecoin: Why Past Pre-Halving Rally May Not Push LTC Above $100
- LTC decreased by 12.80% in the last 30 days in contrast to the previous pre-halving performance.
- If the 50 EMA flips the 20 EMA, then LTC might fall below $90 unless buying pressure increases.
- Long positions outweighed shorts, suggesting a bullish sentiment in the aftermath of the halving.
As Litecoin (LTC), approaches its third halving event, discussions have risen on whether history will repeat itself in terms of price performance. For context, the halving happens every four years, and it’s a process where miners get rewards for validating transactions.
Historically, LTC goes on a pre-halving rally before the price falls a few days after the event. According to CoinMarketCap, this was the case prior to the August 5 2019 halving. Around this period, LTC grew from $88 around July to trade above $120 on the halving day.
LTC Is Not In Tune with History
However, as one of the pioneering cryptocurrencies, LTC has not had the same move this cycle. As mentioned above, past halvings have been associated with significant price rallies. But there are compelling factors suggesting that this time might be different.
For instance, the coin price was $93.29 — a 12.…
The post Litecoin: Why Past Pre-Halving Rally May Not Push LTC Above $100 appeared first on Coin Edition.
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Litecoin: Why Past Pre-Halving Rally May Not Push LTC Above $100
- LTC decreased by 12.80% in the last 30 days in contrast to the previous pre-halving performance.
- If the 50 EMA flips the 20 EMA, then LTC might fall below $90 unless buying pressure increases.
- Long positions outweighed shorts, suggesting a bullish sentiment in the aftermath of the halving.
As Litecoin (LTC), approaches its third halving event, discussions have risen on whether history will repeat itself in terms of price performance. For context, the halving happens every four years, and it’s a process where miners get rewards for validating transactions.
Historically, LTC goes on a pre-halving rally before the price falls a few days after the event. According to CoinMarketCap, this was the case prior to the August 5 2019 halving. Around this period, LTC grew from $88 around July to trade above $120 on the halving day.
LTC Is Not In Tune with History
However, as one of the pioneering cryptocurrencies, LTC has not had the same move this cycle. As mentioned above, past halvings have been associated with significant price rallies. But there are compelling factors suggesting that this time might be different.
For instance, the coin price was $93.29 — a 12.…
The post Litecoin: Why Past Pre-Halving Rally May Not Push LTC Above $100 appeared first on Coin Edition.
Read More