When to expect the LTC rally ahead of the event

Litecoin Halving News: The rally in the crypto market over the past few weeks has been a relief for altcoins also. The price rally has not only led to an injection of capital into the market, but it is also helping new investors to join the market. Additionally, the crypto price rally could not have come at a better time for some cryptocurrencies that are poised to make technical progress. The highly anticipated Litecoin (LTC) halving event is scheduled for August 3, 2023.

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The halving event will mean that the newly created LTC volume will be halved. This will be the third such event for the cryptocurrency. Against this backdrop, the Litecoin trading community is already buzzing in anticipation of the halving event. Meanwhile, the Litecoin price prediction is underway for the cryptocurrency to break above the $100 figure.

Litecoin Rally Coming?

In the run-up to the halving event in August, the 14th ranked cryptocurrency may in the stage witness a price rally. Against this backdrop, investors expect a rally to above the $100 mark in the near term. At the time of writing, the LTC price stands at $89.64, up around 1% in the last 24 hours, according to CoinGape Price Tracker. According to the crypto investor Jelle on Twitter,

“With its next halving set to take place later this year, we could finally see the catalyst for new all-time highs in $LTC. For now, the chart looks good for a run to 1.618, slightly above $100. Above this area we go to the races.

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However, it remains to be seen when a full-fledged LTC price rally is expected to take place ahead of the August event. Additionally, the halving event is subject to schedule changes due to technical changes.

Anvesh reports major developments regarding crypto adoption and trading opportunities. Associated with the industry since 2016, he is now a strong advocate for decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and contact him at [email protected]

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.