Litecoin price prediction: Futures open interest rises ahead of halving

Litecoin price prediction: Futures open interest rises ahead of halving
фото показано с : invezz.com

2023-7-21 12:21

Litecoin will be in the spotlight in the coming days as investors wait for the upcoming halving event scheduled for August. The coin was trading at $93 on Thursday as open interest in key exchanges remained at an elevated level. 

Litecoin halving countdown 

Halving is a unique feature in proof of work (PoW) cryptocurrencies like Bitcoin and Bitcoin Cash. It is a feature that reduces the block rewards in a bid to slow the coin’s supplies. 

Litecoin, which is a hard fork of Bitcoin, will happen on August 3rd of this year when the block height moves to 2.52 million. The current height stands at 2.512 million. 

Litecoin halving happens every four years and in most cases, the coin tends to do well before the event happens. This partially explains why LTC coin’s price has been in an overall bullish trend since July last year. 

Litecoin is showing some important characteristics ahead of this halving. Its hash rate and mining difficulty have jumped to a record high, with the latter standing at 26.6.

At the same time, data compiled by CoinGlass shows that its open interest in the futures market has jumped to over $520 million, which is a few points below last week’s high of $614 million. This means that this open interest is hovering near the highest level since November 2021, as shown below. 

Open interest is a crucial feature in the futures market because it shows the total number of futures contracts held by market participants at the end of the trading day. It is used to determine market sentiment and the strength behind a market. 

Litecoin price prediction 

The daily chart shows that the LTC price has erased some of last week’s gains as sentiment in the market changes. It has dropped from last week’s high of $116.14 to the current $93. This decline coincides with Bitcoin’s move below the support at $30,000.

Litecoin is being supported by the 50-day exponential moving average. It has also formed a small hammer pattern. Therefore, there is a likelihood that the price will recover in the coming days as the countdown to the halving event continues. If this happens, the next key level to watch will $105.75, the highest level on February 16.

The post Litecoin price prediction: Futures open interest rises ahead of halving appeared first on Invezz.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Litecoin (LTC) на Currencies.ru

$ 44.25 (-0.24%)
Объем 24H $289.123m
Изменеия 24h: -0.51 %, 7d: -0.59 %
Cегодня L: $44.16 - H: $45.8
Капитализация $3.425b Rank 23
Цена в час новости $ 92.42 (-52.12%)

litecoin halving open interest trading august coin

Источник: invezz.com

litecoin halving → Результатов: 126


Фото:

Халвинг Litecoin породил временный и слабый рост криптовалюты

Цифровой актив откатился к своим низким значениям за пару часов. 5 августа халвинг Litecoin (LTC) состоялся, и, в общем, сбылся пессимистический прогноз. Минимум по LTC 5 августа 92,65 доллара, а максимум — 104,08 доллара.

2019-8-6 11:04


Фото:

Халвинг Litecoin 5 августа: как реагирует рынок криптовалют

Влияние уменьшения предложения Litecoin на его цену будет позднее, но какое? Остались считанные часы до момента, когда произойдет халвинг Litecoin (LTC). Это будет означать, что на блоке 1 млн 680 тысячном упадет и будет дальше поддерживаться на новом уровне объем вознаграждения.

2019-8-5 11:01


As Litecoin’s halving approaches, will LTC’s price surge, correct, or consolidate?

Five days from today, Litecoin will go through a process called halving. This is a fixed event that occurs every four years after 840,000 blocks are mined, reducing block rewards by 50 percent. As the date approaches, how will LTC trade? Litecoin Technical Analysis At the moment, it seems like Litecoin could be mimicking its behavior […] The post As Litecoin’s halving approaches, will LTC’s price surge, correct, or consolidate? appeared first on CryptoSlate.

2019-8-1 23:29


Litecoin [LTC] to peak only after 2021; halving may not shoot up coin’s prices in the near term

The debate of cryptocurrency halving and the impact on its price has been a long-standing one. The virtual assets’ industry is still in its formative years. Even as there are many speculations regarding the halving event and its impact on the price of the digital asset, facts provided to back up those speculations are not […] The post Litecoin [LTC] to peak only after 2021; halving may not shoot up coin’s prices in the near term appeared first on AMBCrypto.

2019-4-28 16:30


Фото:

Litecoin Price Analysis: How High Will Halving Hype Push LTC?

In approximately 179 days, Litecoin (LTC) will undergo a block-reward halving — cutting the coin reward for miners from 25 to 12. 5 coins. With fundamental developments like confidential transactions reportedly in the works and the popular altcoin experiencing price-strength confirmation, how high will the impending halving hype push the price of the peer-to-peer cryptocurrency?  [Disclaimer: The following article is not financial advice and should not be construed as such.

2019-2-10 08:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru