Litecoin's Upward Trajectory: Clearing the $115-Level Could Lead to $130

July 4 (Cointime) - The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. Litecoin (LTC) has seen a significant increase in value, hitting $115 at the time of writing, which is a 55% increase in less than three weeks.

The upcoming halving event on August 3, 2023, is expected to impact the network and price of LTC significantly. Technical indicators suggest that LTC could clear the $115-zone and target the $134-resistance level, but a breach below the $100-mark could weaken the market structure. Open Interest rates for LTC have surged since the end of June, indicating a bullish cue.

Litecoin $81.53

+1.79%

Litecoin

Original Link

Comments

All Comments

Recommended for you

Cointime精选 ·

Speculatory Divergence

There has been a growing divergence in performance between Bitcoin and Ethereum during the 2023-23 cycle thus far. This has manifested as weaker price performance for ETH, and can be explained by an overall weaker capital rotation trend, especially relative to past cycles and ATH breaks.
Cointime精选 ·

Griefing Bitcoin's Testnet

A deep dive into manipulation of block generation on testnet and a call to reset the network to fix several issues.
Coin Metrics ·

The Usage & Evolution of Decentralized Exchanges (DEX’s)

Checking in on pool liquidity, trading volumes and adoption across Ethereum DEX's
Uniswap founder: Founders and VCs need to stop valuing startups and pre-coin crypto projects at more than $1 billion

Uniswap founder Hayden Adams posted on social media that cryptocurrency founders and venture capitalists need to stop valuing projects at over $1 billion in the early stages of development and before tokens have been released, until they are truly worth that valuation. Building something worth 7-9 figures is an incredible achievement, and not every project needs to be a unicorn at launch. Additionally, Hayden Adams said, perhaps it's naive, but I think raising funds as a founder at a fair valuation (real talent wants upside) and investing at a fair valuation as a VC (LPs want upside) can make more money. It's just harder to do it that way.
Trump: The US will stop being hostile to cryptocurrencies and embrace them

According to Watcher.guru on X platform, former President Donald Trump stated that he will stop the hostility towards cryptocurrency in the United States and embrace it.
Fed's Collins: Reaching 2% inflation may take longer than expected

The Fed's Collins stated that it may take longer than expected to reach a 2% inflation level; the policy is appropriately restrictive for risks; rates should be maintained until confidence is strengthened; the full impact of restrictive policies may not yet be seen; high uncertainty reinforces the need for the Fed to remain patient; it is necessary to slow down the US economic growth in order to put inflation on the path towards a 2% decline; there has been no sign of inflation falling back since 2024; demand is expected to eventually slow down, but there is uncertainty regarding timing.
Paradigm ·

How to Raise the Gas Limit, Part 2: History Growth

History growth is currently the biggest bottleneck for scaling Ethereum. Somewhat unexpectedly, history growth has become a much larger problem than state growth. Within a couple years, history data will exceed the storage capacity of many Ethereum nodes.
Cointime精选 ·

Introducing the crvUSD MetaMorpho Vault

A vault to borrow crvUSD against Convex-wrapped TriCrypto LPs, curated by Llama Risk
Messari releases Fantom Q1 report: Market value increased by 101% month-on-month, DeFi TVL increased by 59% month-on-month

Messari recently released the Fantom 2024 Q1 status report, with the following highlights:
Chairman of the U.S. SEC: The crypto market is a hotbed of fraud, and investors are not getting the necessary information disclosure on related assets

According to CNBC, Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), stated in an interview that the SEC oversees $110 trillion in capital markets, with approximately half in the stock market and half in the bond and other markets. Cryptocurrency is only a small part of the entire market. However, it is a huge part of fraud, deception, and problems in the market, as most of the content in this field does not comply with securities law protection.The SEC cannot talk to any company, but in the field of crypto assets, without prejudging any of them, according to the US Supreme Court's interpretation, many tokens are securities under local law, so we comply with this law, and investors do not receive the necessary information disclosure about these assets.