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<ul class="news-points"> 
 <li>LTC halving disappoints with the bearish trend after slashing miner rewards.</li> 
 <li>Bulls in the LTC market struggle to break resistance at $91.42 post-halving.</li> 
 <li>Bearish momentum shows signs of weakening, with potential for a bullish reversal.</li> 
</ul> 
Despite widespread anticipation, the Litecoin (LTC) halving event on August 2 sparked a bearish trend instead of the expected bullish activity. Consequently, the price of LTC dropped from its pre-halving mark, leaving investors and crypto enthusiasts puzzled. 
The halving, an eagerly awaited event by the Litecoin community, saw the miners’ rewards slashed from 12.5 LTC to 6.25 LTC. It’s an occurrence every four years that, in theory, can spur long-term price increases for the native token. Moreover, the halving transpired when the network reached a block height of 2,520,000. 
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 LITECOIN HAS SUCCESSFULLY HALVED ITS BLOCK REWARD! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$LTC</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/iemCnkPsdu" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/iemCnkPsdu</a>— Litecoin (@litecoin) <a href="https://twitter.com/litecoin/status/1686755968489861120?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 2, 2023</a> 
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However, the reaction from the market was not as expected. Instead of soaring, the price of LTC struggled to break the resistance level at $91.42. Hence, bearish forces took over, plunging LTC’s price to a 24-hour low of $85.80. 
Besides this, the market capitalization of LTC dipped by 5.33%, settling at $6,324,129,454. Significantly, the 24-hour trading volume surged by 8.64% to $852,799,563, a testament to the traders’ heightened activity amidst the halving. 
At press time, the price of LTC stood at $85.80, a disappoint… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/ltc-halving-fails-to-ignite-bullish-rally-will-bulls-recover-dip/">LTC Halving Fails to Ignite Bullish Rally, Will Bulls Recover Dip?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

LTC Halving Fails to Ignite Bullish Rally, Will Bulls Recover Dip?

Coin Edition

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