We are finally seeing the halving hype take shape for Litecoin’s price. Over the course of the weekend, nearly everything was going down head first, but LTC managed to retain most of its value and push through the bear thanks to the newly formed bullish sentiment in anticipation of the halving.
The major resistance level of $120 has been crushed, and the coin is being traded at $125 per coin at the moment writing this article.
Like many have predicted, Litecoin is well on its way towards the $150 price point judging from the chart patterns we see for the last couple of days.
Many are saying that it has finally become its own cryptocurrency and has distanced itself from Bitcoin’s shenanigans in the market.
If the growth continues like this, it’s expected to have Litecoin reach $150 resistance levels by the time of the halving, which will bring even more consolidation to the coin once it happens.
At the moment of writing this article, the official prediction of Litecoin’s price at the beginning of August before the halving is $140, but it could surprise us all and surpass even $150 if it continues with such a healthy surge.
Right after the halving, investors should expect somewhere around 50 to 60% price consolidation due to the newly emitted coins in the blockchain.
If the growth is maintained, it’s possible for Litecoin to reach $250 right after the halving, but it’s likely that it will fall to $200 by the end of August. Nevertheless, traders can enjoy a lovely 33% consolidation in August by itself if the price reaches $150 before the halving.