Simply looking at crypto charts on coinmarketcap is enough to see Litecoin standing out as one of the few coins that are in the green.
As other cryptos both large and small shred their prices with no intention to stop, Litecoin is heading the opposite direction, and for the first time this year, that opposite direction is actually positive.
The major resistance level of $140 has been surpassed as predicted in out yesterday’s analysis, however, the price could not be maintained and the coin has now fallen back to a solid $138 price point.
Despite the price drop, it’s still believed that LTC will keep on growing before the halving finally happens.
We predicted Litecoin to reach $140 by the end of June, but since it has already surpassed that price within just 12 hours of making the prediction, it’s natural to make some amendments.
In the nearest future, LTC will be facing a tough resistance level of $145, but the bullish sentiment still remains to be healthy. As other cryptocurrencies like Bitcoin begin to catch up, it will be nothing but a benefit for LTC in the short term.
When it comes to the long-term our predictions remain the same, it’s most likely that LTC will reach a price point of $250 during the week of the halving (which is now 54 days away), and will fall down to a more manageable $200 price.
The exact same thing happened in 2015, where the hype drove a 400% price increase, and the halving itself caused just 150%. This time it’s expected that the price will jump by around 120% during the halving and slowly fall back down to 60% increase by the end of August.
Naturally, the more LTC grows before the halving the more its chances for surpassing its all-time high of $228.