Rally

Litecoin

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 <p>The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market as a whole has experienced a widespread decrease in value. Leading <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies have been undergoing declines, with certain coins witnessing substantial double-digit drops. Litecoin has dipped significantly, reflecting a 13.24% decrease within a single day. This has further extended the asset’s losses over the week to 21.41%. </p> 
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  <img decoding="async" width="1024" height="633" src="https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp" alt="" class="wp-image-107488" srcset="https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp 1024w, https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp 300w, https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp 768w, https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp 1536w, https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp 380w, https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp 550w, https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp 800w, https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp 1160w, https://cdn.thebittimes.com/images/2023/08/18/c3f424dc99a09070b74e7f5a174f4548.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source – LTC/USD Chart on TradingView 
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 <p>Despite the prevailing bearish sentiment in the market, the significant drop in LTC’s value has raised worries. Earlier this month, this altcoin underwent a halving, typically viewed as a bullish occurrence. Nevertheless, so far, the anticipated positive impact of the halving on LTC’s value has not materialized. However, this doesn’t mean that this will be the case throughout.</p> 
 <p><strong>Also Read: Litecoin Halving Proved to Be a “Sell the News” Event</strong></p> 
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 <h4 class="wp-block-heading" id="h-litecoin-could-hit-ath-during-q4-says-analyst">Litecoin could hit ATH during Q4, says analyst</h4> 
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 <p>In a recent tweet, an analyst who goes by Shan Belew highlighted the emergence of a bullish pattern on the coin’s chart, indicating a potential price surge in the upcoming months. Litecoin found itself positioned at the end of a symmetrical triangle. This pattern has led to rapid price increases on the previous two occasions. The analyst anticipates that the price of LTC could achieve a record high in the final quarter of 2023.</p> 
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    <p lang="en" dir="ltr">I think this is the last week to accumulate <a rel="noopener noreferrer nofollow" title="LITECOIN" href="https://thebittimes.com/tag/litecoin.html">LITECOIN</a> before Litecoin goes on its face melting move. <br><br>Litecoin is now at the end of the symmetrical triangle that the last two times has resulted in quick expansion in price. <br><br>This time its more akin to 2017 break out due to the… pic.twitter.com/LHxtkl6yIb</p>— Shan Belew Ⓜ️🕸 (@MASTERBTCLTC) August 13, 2023 
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 <p>It’s important to observe that the a<a rel="noopener noreferrer nofollow" title="LTC" href="https://thebittimes.com/tag/ltc.html">LTC</a>oin’s price doesn’t promptly exhibit fluctuations right after the halving event. For instance, following the halving in August 2015, Litecoin maintained a price range of $2.8 to $3.6 for a span of 19 months. This period was followed by a price surge that aligned with BTC, leading to <a rel="noopener noreferrer nofollow" title="LTC" href="https://thebittimes.com/tag/ltc.html">LTC</a>’s $370 value by December 2017.</p> 
 <p>Furthermore, the Market Value to Realized Value Ratio [MVRV] chart indicated that LTC was positioned under 1. At the present moment, the MVRV ratio for LTC stands at 0.83913, affirming the perception that the asset is currently undervalued.</p> 
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  <img decoding="async" src="https://cdn.thebittimes.com/images/2023/08/18/c8644767dae4849233031626640a6549.webp" alt="" class="wp-image-107489" style="width: 100%;height:410px" width="614" height="410" srcset="https://cdn.thebittimes.com/images/2023/08/18/c8644767dae4849233031626640a6549.webp 1024w, https://cdn.thebittimes.com/images/2023/08/18/c8644767dae4849233031626640a6549.webp 300w, https://cdn.thebittimes.com/images/2023/08/18/c8644767dae4849233031626640a6549.webp 768w, https://cdn.thebittimes.com/images/2023/08/18/c8644767dae4849233031626640a6549.webp 380w, https://cdn.thebittimes.com/images/2023/08/18/c8644767dae4849233031626640a6549.webp 550w, https://cdn.thebittimes.com/images/2023/08/18/c8644767dae4849233031626640a6549.webp 800w, https://cdn.thebittimes.com/images/2023/08/18/c8644767dae4849233031626640a6549.webp 1160w, https://cdn.thebittimes.com/images/2023/08/18/c8644767dae4849233031626640a6549.webp 1200w" sizes="(max-width: 614px) 100vw, 614px"> 
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    Source 
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 <p><strong>Also Read: Litecoin Halving Countdown: <a rel="noopener noreferrer nofollow" title="LTC" href="https://thebittimes.com/tag/ltc.html">LTC</a> Sees Last-Minute Slump in Value</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>crypto</li> 
  <li>cryptocurrency</li> 
  <li>LITECOIN</li> 
  <li>LTC</li> 
 </ul> 
</div>

Litecoin: Is a Rally in the Cards After Its 13% Dip?

TheBitTimes

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