Litecoin is showing itself very strongly now, in previous cycles has always been a leading indicator of a reversal for Bitcoin
Now there are 239 days left before the LTC halving, the target is August 5, 2023.
Historical data :
1st LTC Halving, August 25, 2015.
Growth from low - 7X to Halving.
High - 44 days before.
2nd LTC Halving, August 5, 2019.
Growth from low almost 6X to halving.
High - 44 days before.
From a technical point of view, LTC has been accumulating for 6 months (193 days). Flashes of volume are visible in the accumulation, which may indicate the accumulation of a major players.
The basic signs that suggest further growth are the breaking of the main downtrend line and going beyond all movings (MA 50 100 200)
But before we go higher we can take liquidity below $70
The nearest target is $100, if fixed above, the next target is around $140
It should be noted that we are expecting news about inflation (December 13) and Fed interest rate decision (December 14), which may affect volatility.
Now there are 239 days left before the LTC halving, the target is August 5, 2023.
Historical data :
1st LTC Halving, August 25, 2015.
Growth from low - 7X to Halving.
High - 44 days before.
2nd LTC Halving, August 5, 2019.
Growth from low almost 6X to halving.
High - 44 days before.
From a technical point of view, LTC has been accumulating for 6 months (193 days). Flashes of volume are visible in the accumulation, which may indicate the accumulation of a major players.
The basic signs that suggest further growth are the breaking of the main downtrend line and going beyond all movings (MA 50 100 200)
But before we go higher we can take liquidity below $70
The nearest target is $100, if fixed above, the next target is around $140
It should be noted that we are expecting news about inflation (December 13) and Fed interest rate decision (December 14), which may affect volatility.