LTC is expected to be halved on Aug.2. The block reward will change from 12.5 LTC to 6.25 LTC. The halving of token does not necessarily bring the rising, but for tokens, the halving is a deflation way for tokens. This model makes sense. It is different from the inflation way for traditional currencies. Today we bring a brief analysis of LTC, DASH and BCH. It should be noted that the halving of LTC and BCH is coming soon, and the halving of DASH has already happened.
Unlike most tokens in the market, LTC did not make a new low after its price returned to 43 in June last year. Even in November, the FTX hit the entire market. LTC began to rise with fluctuation in October last year, and after entering 2023, the price get into fluctuation. The volatility of LTC is greater than that of most tokens. There are frequent V-reversals on the daily level. Although on Jun.30, the price broke through the upper rail of the gray zone, but in the following days the price fell back to the gray zone. Recently, the price has continued to fall and the strength of the bulls is weak during the process. Once a green candle with a certain length appears, it will be immediately covered by the bears.
Conclusion: Mostly fluctuation. The probability of falling is greater than that of rising. LTC maintain neutral on a large scale. Bulls have a slight lead over bears. Although the strength of the bears has declined recently, it is difficult for the bulls to strengthen at the current position. So we draw this conclusion. We set resistance level at 103 and support level at 83.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Unlike most tokens in the market, LTC did not make a new low after its price returned to 43 in June last year. Even in November, the FTX hit the entire market. LTC began to rise with fluctuation in October last year, and after entering 2023, the price get into fluctuation. The volatility of LTC is greater than that of most tokens. There are frequent V-reversals on the daily level. Although on Jun.30, the price broke through the upper rail of the gray zone, but in the following days the price fell back to the gray zone. Recently, the price has continued to fall and the strength of the bulls is weak during the process. Once a green candle with a certain length appears, it will be immediately covered by the bears.
Conclusion: Mostly fluctuation. The probability of falling is greater than that of rising. LTC maintain neutral on a large scale. Bulls have a slight lead over bears. Although the strength of the bears has declined recently, it is difficult for the bulls to strengthen at the current position. So we draw this conclusion. We set resistance level at 103 and support level at 83.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
