Litecoin is targetting the $150 resistance level

Litecoin is targetting the $150 resistance level

Cryptocurrency prediction analysts are projecting an altcoin rally powered by the upcoming Litecoin halving slated for August 2019.  Ahead of the upcoming halving, Litecoin has embarked on a bullish run. The total market is closely tracking Litecoin LTC to see its impact, especially on altcoins.

Before, LTC halving resulted in the rallying of the cryptocurrency market. Litecoin was actually the catalyst that helped put Bitcoin’s bear market to a bottom point, leading to a short term altcoin season. "Litecoin is targetting the $150 resistance level"

Litecoin is targetting the $150 resistance level

By the time of writing, Litecoin LTC was trading at $116 with a market capitalization of $7.2 billion, and altcoins are starting to rev up. At the current moment, the total market is on a positive momentum with Bitcoin BTC taking the lead, currently trading at $8,732.16.

The value of the Litecoin has increased with investors anticipating an offsetting of supply and demand that will drive the price to a New All-time high. When the entire cryptocurrency market seemed shaky, Litecoin was the only asset that mostly remained green.

The Litecoin has also played a big role in the crypto market recovery. The fact that Litecoin LTC assisted Bitcoin BTC to surpasses the $8k mark cannot be ignored. At this time, BTC is setting eyes on the $9000 mark. Compared to BTC, LTC has gained 10% against the LTC/BTC pair.  Going into the future of Crypto market, Litecoin LTC is expected to gain further based on technical analysis.

Surpassing the $100 mark level means that Litecoin LTC is targetting the $150 resistance level. At that momentum, the $100 price level needs to be observed keenly. In case the price drops under $100 this can be a major concern for the Litecoin community in the future. However, an LTC price drop below $100 is unlikely for now.

Litecoin Adoption

Litecoin LTC in recent years has been focused on widespread more adoption of its cryptocurrency rather than focusing on trading and investors.

ZyCrypto on April 18 reported Litecoin’s most recent adoption story in post. Sportsbet.io, one of the industry’s leading gaming platform, announced it had added support for the Litecoin LTC cryptocurrency.

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