It will increase by 64 percent! Among the Largest Alt Decoys!
A popular cryptocurrency analyst thinks that one of the largest altcoins could soon gain 64 percent. Dec. This altcoin, which has been excessively taken by whales in recent days, has started to attract attention again as it approaches the next halving. The reduction of rewards to be issued per block has an extremely positive effect on token emission.
Litecoin Price Prediction
Currently, LTC has seen quite impressive growth, and a popular crypto analyst believes that the rally will continue. But there is one condition. Crypto strategist Justin Bennett thinks in the new issue of the newsletter that Litecoin bulls will have to defend a key price level, and if they achieve this, the price will continue to rise. Bennett said Litecoin’s $73.20 price is also a key point in the ongoing rally, as it has turned into a support level after acting as a resistance level earlier this month and in May.
Litecoin’s closing below $ 73.20 may extinguish hopes. If the region turns into resistance again, it will cause the price to melt rapidly. Justin said the following;
“LTC has been bullish recently and has crossed the $73.20 resistance level and has now turned this place into support. If this area is maintained, I think we will see LTC continue to rise here to $96.50 and potentially up to $128. Alternatively, a one-day close below $73.20 will ensure the end of the rally.”
The popular altcoin traded at both $96.50 and $128 price levels earlier this year. In order for Litecoin to reach these price levels again, it needs to rise by 24% and 64% from its current value, respectively. As a result of intensive purchases in the last few weeks, the LTC price has experienced a significant increase. On a weekly basis, LTC was the highest gainer among the top 100 altcoins. Dec.
The altcoin, which has risen by about 50% from its price of $ 55.11 at the beginning of this month, is finding buyers at $77 at the time of writing. Bitcoin is positive today, but China reported the largest number of daily cases of all time a few hours ago. It is important whether the 35,000 cases announced by China will revive the pandemic. Crypto money markets are experiencing difficult days after rising inflation and subsequent interest rate increases. If the closures start again, it can be returned to the 2020 period.
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