Litecoin

Giant

Time

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  <p style="text-align: justify">In the past, there have been two major losses during the same period, and now it seems that a similar process is starting again. One of the most popular altcoins in recent months, Litecoin, which will undergo halving in early August, disappoints investors who were eagerly waiting for a new peak above $200 due to the overall market sentiment.</p> 
  <h2 style="text-align: justify" id="litecoin-ltc-price-analysis">Litecoin (LTC) Price Analysis</h2> 
  <p style="text-align: justify"><strong>The price of Litecoin (LTC)</strong> has fallen below a critical horizontal range, invalidating the previous breakout and indicating that the downtrend will continue. Despite this bearish outlook on the daily timeframe, short-term readings still suggest a slight upside potential. This is due to the presence of an ascending formation and the convergence of support levels just below the current price.</p> 
  <p style="text-align: justify"><img decoding="async" class="size-full wp-image-238022 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/07/Litecoin-Dusecek-MI.png" alt="" width="1888" height="842"></p> 
  <p style="text-align: justify">The daily chart shows that the price of LTC has been declining since reaching $115 on July 3rd. The decline brought the price below the $100 horizontal range, which was later confirmed as resistance. Therefore, the previous breakout above the range is considered a deviation.</p> 
  <p style="text-align: justify">Currently, the LTC price is trading at $91 and approaching an ascending support line at $80.</p> 
  <h2 style="text-align: justify" id="is-it-a-good-time-to-buy-ltc">Is it a Good Time to Buy LTC?</h2> 
  <p style="text-align: justify">In contrast to the daily chart, the four-hour short-term chart raises hopes for the resumption of the uptrend. The reason for optimism is the presence of a bullish formation known as a descending wedge. Furthermore, the price is approaching the confluence of the wedge’s support line and the 0.618 Fibonacci retracement support level. The principle behind Fibonacci retracement levels suggests that after a significant price move in one direction, the price will retrace or partially return to a previous price level before continuing in the original direction.</p> 
  <p style="text-align: justify"><img decoding="async" class="size-full wp-image-238023 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/07/LTC-Coin-Fiyat-Yorumu.png" alt="" width="1897" height="843"></p> 
  <p style="text-align: justify">Therefore, it is possible for the region to initiate a bounce and ultimately break out of the wedge. However, this short-term bullish prediction can be invalidated if the price closes below $80.</p> 
  <p style="text-align: justify">Historically, halving events, such as the one expected to occur in early August, have often led to stable declines a few weeks before and after. Therefore, it would not be surprising if the price faces prolonged selling pressure during this halving period, based on historical data.</p> 
  <h5>The post <a href="https://en.coin-turk.com/days-count-for-the-giant-altcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Days Count For The Giant Altcoin!</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS.</a></h5>
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Days Count For The Giant Altcoin!

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