- Analyst CryptoFaibik highlighted on Twitter immediately that 23 days earlier than the halving, LTC nonetheless has a falling wedge on its 1-hour chart.
- At press time, LTC was buying and selling at $93.32, down greater than 3%.
- Along with the falling wedge on the one-hour chart, there was additionally a optimistic pattern line on the LTC each day chart.
Cryptocurrency analyst CryptoFaibik shared on Twitter earlier immediately {that a} falling wedge sample remains to be in place on Litecoin’s (LTC) low-term (LTF) chart. If the mannequin is confirmed, it might result in a giant enhance. Moreover, the analyst identified that solely 23 days stay till the LTC halving.
Regardless of the approaching halving, CoinMarketCap indicated that the value of LTC is down greater than 3% within the final 24 hours. This left the altcoin buying and selling palms at $93.32 at press time. Because of this, LTC was buying and selling barely above its each day low of $93.20.
LTC’s 24-hour loss additionally pushed the weekly efficiency additional to -16.70%. Additionally, the 24-hour buying and selling quantity of the cryptocurrency reached roughly $572,566,523 after rising by greater than 40% within the final day.
Its market cap of $6,842,802,882 meant that LTC was the eleventh largest cryptocurrency by market capitalization. This comes after Tron (TRX) overtook LTC to change into the tenth largest cryptocurrency with a market cap of $6,907,189,252.
A optimistic trendline was seen on LTC’s each day chart after the cryptocurrency printed two increased lows over the previous few weeks. The primary low was posted in 2023. on June 20, when LTC hit a low of $75.73. Later in 2023 June 29 LTC made the next low of $82.94.
If the value of LTC closes above the help stage at $92.37 immediately and tomorrow, one other increased low may very well be recorded. If that is so, the value of LTC might problem the resistance stage at $100 within the subsequent 48 hours.
A break above $100 will pave the best way for LTC worth to climb to the following resistance stage at $109.25 subsequent week. Nonetheless, this bullish thesis shall be invalidated if the cryptocurrency worth closes the each day candle beneath the aforementioned $92.37 help stage within the subsequent 48 hours. On this situation, LTC might fall to $85.
Disclaimer: The views and opinions, in addition to all data shared on this worth evaluation, are revealed in good religion. Readers ought to do their very own analysis and do their due diligence. Any actions taken by the reader are strictly at their very own threat. Coin Version and its associates won’t be held responsible for any direct or oblique injury or loss.
