With Litecoin halving expected on August 5 I wanted to take a quick look at previous highs and how we might expect LTC to behave this time around.
The chart on the right shows LTC up to the current day on Bitstamp.
The chart on the top left is the previous ATH reached in December 2017. The blue circles on both charts are the points at which LTC crossed the $60 mark, for reference. In 2017 you can see that price consistently steps up making higher lows and higher highs, until going on an epic 300% rise over the next 5 days. Note that didn't take it right up to the all time high but is the main point of interest here.
Then have a look at the chart on the bottom left, which shows the previous LTC halving in August 2015. The same pattern of higher lows and higher highs is seen here, before another epic 5 day price rise, this time going up 141%.
36 days after that 2015 high was reached, price had returned to where it started prior to the 141% increase, in time for halving on August 15, 2015.
Coming back to the current chart on the right you can see again the same pattern of higher lows and higher highs after passing $60. If the same pattern as 2015 was to play out, a 141% price rise over the next 5 days would take LTC to around $324, before returning to $136 on the halving date.
Of course there are a lot of other factors in play, not to mention the amount of attention focused on BTC right now. But I thought it was interesting to have a look at past performance when trying to determine how price will play out at this halving.
The chart on the right shows LTC up to the current day on Bitstamp.
The chart on the top left is the previous ATH reached in December 2017. The blue circles on both charts are the points at which LTC crossed the $60 mark, for reference. In 2017 you can see that price consistently steps up making higher lows and higher highs, until going on an epic 300% rise over the next 5 days. Note that didn't take it right up to the all time high but is the main point of interest here.
Then have a look at the chart on the bottom left, which shows the previous LTC halving in August 2015. The same pattern of higher lows and higher highs is seen here, before another epic 5 day price rise, this time going up 141%.
36 days after that 2015 high was reached, price had returned to where it started prior to the 141% increase, in time for halving on August 15, 2015.
Coming back to the current chart on the right you can see again the same pattern of higher lows and higher highs after passing $60. If the same pattern as 2015 was to play out, a 141% price rise over the next 5 days would take LTC to around $324, before returning to $136 on the halving date.
Of course there are a lot of other factors in play, not to mention the amount of attention focused on BTC right now. But I thought it was interesting to have a look at past performance when trying to determine how price will play out at this halving.