A popular crypto analyst said that the $78 mark will be a ‘bounce long area’ for Litecoin (CRYPTO: LTC).
What Happened: Michaël van de Poppe, told his 642,000 followers on Twitter that he is “patiently waiting for opportunities on Litecoin.”
At the time of writing, LTC was trading at $79, down 1% in the last 24 hours. The analyst plotted on the graph that after touching back to $78, LTC will rally to $96 mark.
The rally can be attributed to the upcoming LTC halving in mid-2023 when the block reward will be slashed from 12.5 LTC to 6.25 LTC, according to Delphi Digital, a crypto research platform.
Price Action: At the time of writing, apex crypto BTC was trading at $16,998, down 0.16% in the last 24 hours, according to Benzinga Pro.
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