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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Litecoin (LTC) May Break Or Soar In A Month’s Time

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis litecoin LTC

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  • Litecoin (LTC) bullish above $100
  • Next month’s halving is decisive for LTC

Perhaps the highlight of Q3 2019 will be the Litecoin halving. In a more involving and mature market, the reaction after the event could either disappoint or elate traders. An exponential rise will spur FOMO. However, if LTC dip or range hinting of a “priced-in” situation, traders would be deflated. For now, LTC is stable above $100.

Litecoin Price Analysis

Fundamentals

The clock is ticking, and it’s less than a month to Litecoin halving. Hard-coded in Litecoin’s source code, rewards will be slashed. If demand remains the same, then market forces will naturally re-price LTC higher. In that case, prices could surge to new levels, immensely increasing the Return on Investment (ROI) of LTC holders.

Even without this halving event, Litecoin performance is thus far exemplary if not leading. Preceding Bitcoin’s revival, Litecoin bulls were rampant following a string of good news around plans of Mimble Wimble incorporation. Such a hard fork automatically scales the network while concurrently improving the privacy of LTC transactions.

For now, Mimble Wimble talk has faded. Instead, speculators are realigning to reap dividends assuming next month’s halving syncs with past events.

In other news, the Dementia Society of America (DSA) is the latest to accept a range of crypto assets, including Bitcoin and Litecoin. Discerningly, the idea is to avoid paying taxes since donations in cryptos like LTC or BTC are not deductible.  Under the initiative of “Click-to-bricks,” donors will swap the amount of crypto donations to bricks for use in the construction of their headquarters.

“The Giving Block to expand our crypto capabilities and engage the community, thereby expanding our reach. We will now accept Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and USD Coin for general fund donations, legacy donations, and those donations made in memory or honor of a loved one.”

Candlestick Arrangement

Litecoin LTC

Posting superior gains, LTC is one of the top performers during the first half of the year. However, such rapid expansions did overstretch the asset. From candlestick arrangement, LTC is poised to correct back to the psychological $100 level in a retest.

Such a move is fitting as it adjusts the overvaluation of June 12 while simultaneously confirming losses of June 27.

By properly re-evaluating LTC prices and driving prices to equilibrium, aggressive traders can tune their entries in smaller time frames while aiming at $120 and $150. On the other hand, steep losses below $100 could see LTC prices fall to $80 and later $65.

Technical Indicator

Because of the above, June 27 anchors this trade plan. Note that prices are still oscillating within its high low. Above all, it is wide-ranging with high participation of 824k. Therefore, any slide below $100 or rally past $120 ought to be with high trading volumes exceeding 824k.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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