Litecoin Outperforms Market With A Strong 18% Surge
Litecoin has experienced a significant increase of around 18% in the past day, as the highly anticipated halving event is just over a month away. While most cryptocurrencies enjoyed a rally recently, LTC struggled to maintain its post-surge levels and dropped to the low $80 range. However, in the past 24 hours, Litecoin has seen a rapid shift, trading above $101 and surpassing the previous high. LTC has outperformed almost all top 20 cryptocurrencies, with the exception of Bitcoin Cash.
- LTC has observed an 18% surge in the past 24 hours.
- It has outperformed most top 20 cryptocurrencies.
- A golden cross formation in moving averages preceded this surge.
- LTC has only 34 days until its halving event.
- The halving event is historically considered bullish for LTC.
Hot Take: Will the Surge Sustain Until the Halving?
With the halving event just 34 days away, it remains to be seen if the current price surge will continue or if it will run out of steam. The golden cross formation in the moving averages is a positive sign, but it’s important to monitor the market closely. The halving event, which permanently cuts block rewards in half, is expected to increase scarcity and has historically been associated with bullish sentiment. Litecoin’s performance leading up to the halving will be an interesting trend to watch.