Crypto World Is Bullish on Litecoin Price, But Was Halving Rally Already Front Run?

Tony "The Bull" Severino

Last Updated: June 11, 2019 5:11 am

3 mins read

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Since the start of 2019, Litecoin has been the light leading the crypto market out of its bearish tunnel and into a new bullish rally. After bear market lows were set around $20, the crypto asset has since went on to provide investors with 500% returns.

While many expect that Litecoin has only gotten started, and is a “no brainer” investment ahead of its upcoming halving, others conclude that the silver to Bitcoin’s digital gold could have already had its pre-halving rally front run, and further gains to the upside will be limited. In fact, some crypto analysts believe that not only has Litecoin price run out of steam, but the asset could plummet in the coming weeks despite hype surrounding the halving.

Crypto Analysts Majorly Bullish On Litecoin After Reaching “Fresh Highs”

With Litecoin’s halving less than 60 days away, all corners of the cryptosphere are bullish on the cryptocurrency designed by Charlie Lee.

Monsterously bullish on litecoin

1. Inverted head & shoulders
2. Cup & handle
3. Previously parabolic July 2015

3 best litecoin charts

Find me a better one

Retweet $ltcbtc #litecoinhalving #ltc @TheCryptoDog @PeterLBrandt @APompliano @filbfilb @cryptorecruitr pic.twitter.com/FWRyzQO0gf

— master Ⓜ️🕸 (@MASTERBTCLTC) June 9, 2019

Crypto analysts claim the digital currency displays one of the best charts across the market, but on its LTC/USD and LTC/BTC trading pairs. On the “ratio” Litecoin, a cup and handle or a inverse head and shoulders are forming – both bullish price patterns.

Related Reading | Crypto Analyst: Litecoin is a “No Brainer”

The bullish sentiment has led to “fresh highs” in Litecoin, but the majority of it is driven by pre-halving hype.

Fresh highs for $LTC. pic.twitter.com/MiGh969Zci

— Mati (@MatiGreenspan) June 10, 2019

Litecoin’s halving will see the block reward miners receive for securing the network and validating blocks cut in half – hence the “halving” name – to just 12.5 LTC. Such an event tends to offset supply and demand of the asset, and is an event that investors front run in anticipation of enormous gains.

But Has the Pre-Halving Rally Already Been Front-Run?

Since Litecoin’s low near $20, the crypto asset has brought those willing to take a risk in the depths of the bear market incredible gains of 500%. And although the entire crypto market is bullish on Litecoin, the fact it’s already posted such gains could mean that it’s got little fuel left in its rocket to reach the highs crypto analysts are calling for.

1D $LTC

RW + bear div

death looking imminent

support near 55-70

article on Chikun coming later this week for @bravenewcoin pic.twitter.com/A7jNSZgh7c

— #333kByJuly2025 (@CarpeNoctom) June 10, 2019

Instead, a large bearish divergence on the one-day LTC/USD price chart accompanied by an ascending wedge formation, could send the price of the asset back down to support near $55 to $70, claims crypto analyst, Josh Olszewicz.

https://twitter.com/walter_wyckoff/status/1138000439427964928?s=12

His theory is supported by a select few other contrarian and risk-averse traders and analysts, who warn that not only will Litecoin “halven” in the days ahead, so will the capital of Litecoin investors.

If Litecoin price halvens, and not just the supply miners receive for each block reward, it would put the price target in line with the support levels on the price chart.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
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In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.