Litecoin

Bitcoin

The limited dip in Bitcoin price has sparked significantly larger losses in <a href="https://en.coin-turk.com/" target="_blank" rel="noopener" data-wpel-link="internal">altcoins,</a> pushing most to start carving out fresh lows. Veteran investors in this space realize fear periods often present opportunities bearing great rewards. The FTX crash stands as a recent example, where those who cashed in at the nadir during this year&#8217;s first quarter gained enormous profits. Some altcoins even saw their value surge more than tenfold. 
<h2 style="text-align: justify;" id="is-litecoin-8217-s-halving-a-buying-opportunity">Is Litecoin&#8217;s Halving a Buying Opportunity?</h2>
With two months left to the halving event in August, <a href="https://en.coin-turk.com/secs-lawsuit-against-binance-triggers-market-correction-ltc-and-btc-in-focus/" target="_blank" rel="noopener" data-wpel-link="internal">Litecoin</a> confronts a significant barrier at the $103.5 level. If the price action from 2019&#8217;s halving repeats itself, we might see a substantial LTC rally. However, history doesn&#8217;t always dictate the future. While the block reward halving could bolster LTC&#8217;s value, it needs to surpass the $104 peak of Q1/Q2 for further gains. 
Moreover, the current state of BTC is heightening concerns. The BTC price, incapable of advancing upwards, hasn&#8217;t entirely recovered from the lawsuit&#8217;s impact. Even the forthcoming interest rate decision seems forgotten. Therefore, the halving might not generate a significant opportunity in the short term. 
<h2 style="text-align: justify;" id="at-what-price-should-you-buy-litecoin">At What Price Should You Buy Litecoin?</h2>
A sharp decline from $95 followed by a recovery attempt was stymied around $89. The price has been responding to $89 for some time, oscillating between support and resistance. However, it aligns with the fair value gap (FVG) region of $88.7 to $92.4, potentially creating a robust decline area. A recent recovery attempt halted in the FVG region, pushing the price below $89 at press time. Consequently, sellers may exert more effort in this decline zone. 
<img decoding="async" loading="lazy" class="aligncenter wp-image-83711 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/ltc-4.png" alt="" width="1960" height="1044" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/ltc-4.png 1960w, https://en.coin-turk.com/wp-content/uploads/2023/06/ltc-4-300x160.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/ltc-4-768x409.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/ltc-4-1536x818.png 1536w, https://en.coin-turk.com/wp-content/uploads/2023/06/ltc-4-1200x639.png 1200w" sizes="(max-width: 1960px) 100vw, 1960px" />
Sellers targeting short-term gains might enter at $84 or the $77.5 demand region. Above the decline region, a sell order block and supply zone extend from $95 to $104, coinciding with the Q1/Q2 price ceiling. Therefore, any movement beyond the FVG region could trigger another decline from this supply zone, unless BTC shows an uptrend in a higher timeframe. 
Investors should exercise caution regarding closures below $77.5. 
The post <a rel="nofollow" href="https://en.coin-turk.com/is-litecoins-looming-halving-a-golden-opportunity-an-analysis/" data-wpel-link="internal">Is Litecoin&#8217;s Looming Halving a Golden Opportunity? An Analysis</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Is Litecoin’s Looming Halving a Golden Opportunity? An Analysis

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