{"id":391955,"date":"2019-08-02T01:00:07","date_gmt":"2019-08-02T01:00:07","guid":{"rendered":"https:\/\/uniquehot.com\/?p=391955"},"modified":"2019-08-01T17:02:02","modified_gmt":"2019-08-01T17:02:02","slug":"litecoin-halving-hype-cant-break-downtrend-but-breakout-would-be-a-buy-signal","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/litecoin-halving-hype-cant-break-downtrend-but-breakout-would-be-a-buy-signal\/","title":{"rendered":"Litecoin Halving Hype Can\u2019t Break Downtrend, But Breakout Would Be a Buy Signal"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Litecoin\u2019s halving is just three days away \u2013 an event hard-coded into the Litecoin protocol, aimed at reducing the block reward miners receive, which therefore reduces the supply of LTC and can have the effect of throwing off the delicate balance with demand.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This typically results in a pre-halving \u201cpump\u201d which did appear to be occurring at the start of 2019. But unfortunately, Litecoin has been locked in a downtrend that still looks to be intact according to one analyst, and until it\u2019s broken, the pre-halving rally may be effectively done for. However, a breakout here could be a strong buy signal for Litecoin.<\/span><\/p>\n<h2>Lack of Litecoin Pre-Halving Pump Keeps Crypto Asset in Downtrend<\/h2>\n<p class=\"p1\"><span class=\"s1\">The silver to Bitcoin as digital gold, Litecoin is among the first-ever cryptocurrencies, and its longevity has earned it a top spot in the crypto market top ten throughout much of its existence. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The crypto asset often leads rallies and can be an indicator of overall market sentiment. It was altcoin that helped the rest of the market find a bottom in December 2018, and outperformed Bitcoin throughout 2019, bringing investors 600% returns at its peak before it fell to the current price range.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/07\/17\/litecoin-leads-the-way-as-bitcoin-plummets-altcoins-rise-across-the-board\/\">Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the Board\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Altcoins like <a href=\"https:\/\/uniquehot.com\/2019\/07\/17\/litecoin-leads-the-way-as-bitcoin-plummets-altcoins-rise-across-the-board\/\">Litecoin have been bouncing strongly<\/a> after a major capitulation event a couple of weeks ago. But once Bitcoin\u2019s rally slowed, the alt market came alive once again, with Litecoin as usual leading the charge.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Despite rallying from a low around $70 to the current high near $100, Litecoin still has yet to break out of the downtrend its been in since June\u2019s local high of $140, according to one prominent crypto analyst.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Litecoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Litecoin<\/a><\/p>\n<p>Not trying to be a Debbie downer but don&#39;t get too bullish on LTC just yet.<\/p>\n<p>Downtrend still intact.<\/p>\n<p>However, a breakout with a retest would be a high probability buy-in opportunity. <a href=\"https:\/\/t.co\/qMZnOxIKFj\" rel=\"nofollow\">pic.twitter.com\/qMZnOxIKFj<\/a><\/p>\n<p>&mdash; Nebraskangooner (@Nebraskangooner) <a href=\"https:\/\/twitter.com\/Nebraskangooner\/status\/12295425?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 31, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Not even Litecoin\u2019s halving being a mere three days away and counting has been enough to cause buying to overcome the bearish selling pressure across the crypto market.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Litecoin, like Bitcoin, was having a stellar 2019, outperforming most other crypto assets or even traditional assets for that matter.<span class=\"Apple-converted-space\">\u00a0 <\/span>LTC is still up 400% on the year, so the current \u201cdowntrend\u201d could very well be little more than a <a href=\"https:\/\/uniquehot.com\/2019\/06\/12\/litecoin-price-halving-crypto-bitcoin\/\">strong correction after such a significant rally<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/06\/12\/litecoin-price-halving-crypto-bitcoin\/\">LTC Price Nears 600% Returns, But Beware of the Potential 73% Pre-Halving Plummet\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">The same analyst who points out the lack to a clear break of the downtrend does say that if and when Litecoin does break through the downtrend line, a retest of the resistance turned support may be a \u201chigh probability buy-in opportunity.\u201d<\/span><\/p>\n<div class=\"jeg_video_container jeg_video_content\"><\/iframe><\/div>\n<p class=\"p1\"><span class=\"s1\">With <a href=\"https:\/\/www.litecoinblockhalf.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Litecoin\u2019s halving just days away<\/a> at this point, the limited pre-halving hype left may not be enough to break the downtrend. Alternatively, the halving itself throwing off supply and demand may end up being what causes the breakout, and the buy signal LTC investors are waiting for.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin\u2019s halving is just three days away \u2013 an event hard-coded into the Litecoin protocol, aimed at reducing the block reward miners receive, which therefore reduces the supply of LTC and can have the effect of throwing off the delicate balance with demand. This typically results in a pre-halving \u201cpump\u201d which did appear to be occurring at the start of 2019. But unfortunately, Litecoin has been locked in a downtrend that still looks to be intact according to one analyst, and until it\u2019s broken, the pre-halving rally may be effectively done for. However, a breakout here could be a strong buy signal for Litecoin. Lack of Litecoin Pre-Halving Pump Keeps Crypto Asset in Downtrend The silver to Bitcoin as digital gold, Litecoin is among the first-ever cryptocurrencies, and its longevity has earned it a top spot in the crypto market top ten throughout much of its existence. The crypto asset often leads rallies and can be an indicator of overall market sentiment. It was altcoin that helped the rest of the market find a bottom in December 2018, and outperformed Bitcoin throughout 2019, bringing investors 600% returns at its peak before it fell to the current price range. Related Reading | Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the Board\u00a0 Altcoins like Litecoin have been bouncing strongly after a major capitulation event a couple of weeks ago. But once Bitcoin\u2019s rally slowed, the alt market came alive once again, with Litecoin as usual leading the charge. Despite rallying from a low around $70 to the current high near $100, Litecoin still has yet to break out of the downtrend its been in since June\u2019s local high of $140, according to one prominent crypto analyst. #Litecoin Not trying to be a Debbie downer but don&#39;t get too bullish on LTC just yet. Downtrend still intact. However, a breakout with a retest would be a high probability buy-in opportunity. pic.twitter.com\/qMZnOxIKFj &mdash; Nebraskangooner (@Nebraskangooner) July 31, 2019 Not even Litecoin\u2019s halving being a mere three days away and counting has been enough to cause buying to overcome the bearish selling pressure across the crypto market. Litecoin, like Bitcoin, was having a stellar 2019, outperforming most other crypto assets or even traditional assets for that matter.\u00a0 LTC is still up 400% on the year, so the current \u201cdowntrend\u201d could very well be little more than a strong correction after such a significant rally. Related Reading | LTC Price Nears 600% Returns, But Beware of the Potential 73% Pre-Halving Plummet\u00a0 The same analyst who points out the lack to a clear break of the downtrend does say that if and when Litecoin does break through the downtrend line, a retest of the resistance turned support may be a \u201chigh probability buy-in opportunity.\u201d With Litecoin\u2019s halving just days away at this point, the limited pre-halving hype left may not be enough to break the downtrend. Alternatively, the halving itself throwing off supply and demand may end up being what causes the breakout, and the buy signal LTC investors are waiting for.<\/p>\n","protected":false},"author":517,"featured_media":391963,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,16897],"tags":[428,6664,1835,8080,10],"class_list":["post-391955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-litecoin","tag-bitcoin","tag-crypto","tag-downtrend","tag-halving","tag-litecoin"],"acf":[],"yoast_head":"\n<title>Litecoin Halving Hype Can\u2019t Break Downtrend, But Breakout Would Be a Buy Signal<\/title>\n<meta name=\"description\" content=\"Litecoin\u2019s halving is just three days away \u2013 an event hard-coded into the Litecoin protocol, aimed at reducing the block reward miners receive, which\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/litecoin-halving-hype-cant-break-downtrend-but-breakout-would-be-a-buy-signal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Litecoin Halving Hype Can\u2019t Break Downtrend, But Breakout Would Be a Buy Signal\" \/>\n<meta property=\"og:description\" content=\"Litecoin\u2019s halving is just three days away \u2013 an event hard-coded into the Litecoin protocol, aimed at reducing the block reward miners receive, which\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/litecoin-halving-hype-cant-break-downtrend-but-breakout-would-be-a-buy-signal\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-02T01:00:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-01T17:02:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/litecoin-halving-downtrend-crypto-shutterstock_795670954.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3137\" \/>\n\t<meta property=\"og:image:height\" content=\"2091\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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