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Shaswaty Chanda
Jan 13, 2023 2:41PM ET
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What You Need To Know About Litecoin Halving in August 2023
© Reuters What You Need To Know About Litecoin Halving in August 2023
- Crypto experts reveal that LTC actively rallies before its Halving.
- Historically, after the Halving, a temporary reversal is seen for LTC.
- Crypto analyst Rekt Capital believes that there are chances that in May 2023, LTC top 92 days before halving.
Crypto experts believe that the next Litecoin (LTC) halving is scheduled to take place in August 2023. As a result, based on past records, we have penned down what Litecoin’s value tends to be before and after the halving.
19.Overall, here is a list of all key $LTC Halving Principles:• #LTC rallies Pre-Halving• Local top months Pre-Halving• Strong retrace after local top• Post-Halving consolidation in Accumulation Range• Strong Post-Halving rally to new ATHs#BTC #Crypto #Litecoin— Rekt Capital (@rektcapital) January 8, 2023
Data from TradingView reveals that LTC actively rallies before its halving. For instance, before its first halving, LTC bottomed 122 days and rallied +820%, and post-halving, LTC rallied +14200%.
Again before halving for the second time, LTC bottomed 243 days and rallied +550%. After halving 2, LTC rallied +1574%. This points out the conclusion that LTC is likely to rally more post-halving when compared to that pre-halving.
After the halving, a temporary reversal is seen for LTC. LTC retraced -73% in the 578 days after the first halving, and the coin retraced -83% in the 458 days after the halving 2.
As per crypto analyst Rekt Capital, yet another tendency that is seen in LTC’s case is that it often tops out just before the Halving. For instance, before the first halving, LTC topped 31 days and it also topped 61 days Pre-Halving 2. Consequently, there are chances that in May 2023, LTC top 92 days before halving.
Alternatively, pre-halving tops might also come in doubling fashion which would typically happen in April 2023.
Another crucial point is that the pre-halving rally lasted for 90 days in halving 1 and it lasted for 180 days in the Pre-Halving 2. Thus, with that doubling rate, pre-halving 3 rally might last for 360 days.
Additionally, LTC is forming a Macro Wedge implying the possibility that price compression might occur too.
The post What You Need To Know About Litecoin Halving in August 2023 appeared first on Coin Edition.
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