Market Overview

Litecoin Bursts Through $100 Hurdle On Halving Day

Litecoin Bursts Through $100 Hurdle On Halving Day
  • Litecoin revives the trend above $100 as halving excitement sets in.
  • Litecoin mining rewards to be cut in half as from August 5.

Litecoin reacted positively to the bullish wave over the last weekend. After testing the support at $90, LTC/USD bounced upwards. The momentum stepped out of the descending channel before taking on the moving averages. Initially, the struggle at $96 got the buyers off-balance and Litecoin corrected lower.

Meanwhile, the 100 Exponential Moving Average (EMA) 15-mins chart is functioning as the immediate support. According to the prevailing technical levels, Litecoin is lagging a breakout above $100. The Moving Average Convergence Divergence (MACD) just crossed into the positive region. The full stochastic oscillator is in the overbought after recovery from the lows on Saturday.

The hurdle $105 is the only bump preventing Litecoin’s impending rally. The rise past $100 comes on the day the network is effecting the halving rule. Like Bitcoin, Litecoin rewards are cut in half every four years. From today Litecoin miners will receive 12.5 LTC as a reward for every block they mine.

LTC/USD 15-mins

Image Sourced by Pixabay

Posted-In: Bitcoin crypto market FXStreetCryptocurrency News Forex Markets General


Related Articles

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at