Litecoin Fractal Pre-Halving Hints at LTC Price Surge of 200% by July 2023

Litecoin's momentum indicators signal extremely oversold conditions, hinting at the formation of a potential market bottom.

Altcoin Watch

Litecoin (LTC) price could skyrocket up to 200% by July 2023, coinciding with its halving event, cutting miner block rewards by 50%

Litecoin hit rock bottom?

Litecoin has undergone two halvings since its launch in October 2011. The first was in August 2015, which reduced its block reward from 50 LTC to 25 LTC. The second happened in August 2019, which reduced the reward from 25 LTC to 12.5 LTC.

Interestingly, each Litecoin halving event occurred after a volatile LTC price cycle, namely a huge price pump, followed by an equally massive correction, bottom prices and a recovery towards a local top.

After the Litecoin halving, LTC price corrected from its local high, established another low and followed it with another massive price rise to a new all-time high, as shown below,

LTC/USD weekly price chart with halving fractals. Source: TheScalpingPro

Litecoin's third halving is scheduled for July 2023. Meanwhile, market analysts are already pointing out that the price of LTC is following the same pre-halving trajectory half than before 2011 and Events 2019, now in the dip phase.

The Scalping Pro, an independent market analyst, has added a dose of MACD and RSI momentum indicators to support the bullish outlook. Momentum indicators determine whether an asset is oversold and overbought...