{"id":544439,"date":"2023-07-26T11:40:53","date_gmt":"2023-07-26T11:40:53","guid":{"rendered":"https:\/\/uniquehot.com\/?p=544439"},"modified":"2023-07-26T11:01:19","modified_gmt":"2023-07-26T11:01:19","slug":"litecoin-bulls-barrel-back-toward-92-level-will-they-succeed","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/","title":{"rendered":"Litecoin Bulls Barrel Back Toward $92 Level &#8211; Will They Succeed?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">The Litecoin (LTC) price decrease was a healthy retracement as it pulled back toward the $92 mark. Such retracements are standard after prolonged upward trends and are often seen as an opportunity for the market to find stability before continuing its upward trajectory.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, in the case of Litecoin, the bears have become increasingly dominant, signaling potential resistance ahead.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">LTC has been facing a significant price drop, falling below the crucial $90 level to $89.47, as reported by <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.coingecko.com\/en\/coins\/litecoin\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">CoinGecko<\/span><\/a><span data-preserver-spaces=\"true\">. The altcoin experienced a minor 0.3% increase in the last 24 hours, which hardly compensates for the troubling seven-day slump of 3.6%.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This sharp decline has sparked concerns among investors and traders, as the once-promising bullish momentum seems to have taken a dramatic turn for the worse.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/binance-coin-bnb-price-poised-for-a-major-breakout-which-way-will-it-go\/\">Binance Coin (BNB) Price Poised For A Major Breakout \u2013 Which Way Will It Go?<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-544445\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-168.png?resize=1126%2C61\" alt=\"\" width=\"1126\" height=\"61\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-168.png?w=1126 1126w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-168.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-168.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-168.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-168.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">Source: Coingecko<\/pre>\n<h2><strong>Litecoin Struggles To Surpass $92\u00a0<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">One key factor contributing to the current bearish trend is Litecoin&#8217;s inability to climb past the $92 mark. LTC has repeatedly failed to breach this level and has instead posted lower lows, indicating a loss of bullish momentum, as noted in this <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/ambcrypto.com\/litecoin-falls-below-90-as-sellers-gain-strength\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">LTC price report<\/span><\/a><span data-preserver-spaces=\"true\">. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">When a cryptocurrency struggles to surpass crucial resistance levels, it typically shows waning buyer interest and growing selling pressure, leading to a downward spiral.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As LTC&#8217;s price continues to decline, investors are now concerned about the $87.65 support level. Historically, this level has held firm during previous price declines as a crucial barrier against further downside movements. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, given the recent price behavior and lack of significant buying support, there are growing concerns that the $87.65 support may falter.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/84HDWeVC\/\" width=\"2475\" height=\"1187\"><\/p>\n<pre style=\"text-align: center\">Litecoin market cap currently at $6.5 billion on the daily chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>Halving Explained<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Halving is one of the critical events that have shaped Litecoin&#8217;s history and price movements. Halving is a protocol-driven event that occurs approximately every four years in Litecoin&#8217;s blockchain. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">During this event, the block reward for miners is reduced by half. In other words, miners receive 50% fewer LTC for verifying transactions and adding blocks to the blockchain.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The purpose of halving is to control the inflation rate of Litecoin and ensure a limited supply, similar to Bitcoin&#8217;s halving mechanism.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-544452 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-170.png?resize=860%2C381\" alt=\"\" width=\"860\" height=\"381\"><\/p>\n<pre style=\"text-align: center\">LTC price action in the last 24 hours. Source: <a href=\"https:\/\/coinmarketcap.com\/currencies\/litecoin\/\" target=\"_blank\" rel=\"noopener nofollow\">CoinMarketCap<\/a><\/pre>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/shiba-inu-will-this-bullish-formation-lead-to-a-25-upsurge\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Shiba Inu: Will This Bullish Formation Lead To A 25% Upsurge?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">By reducing the mining rewards, halving makes it more challenging and costlier for miners to add new coins to circulation, reducing the recent supply influx. This scarcity can lead to increased demand and potentially drive up the price of Litecoin.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Examining Litecoin&#8217;s price action before the upcoming halving event can provide valuable insights into its market dynamics. In the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/u.today\/litecoin-ltc-halving-may-be-setup-for-sell-off-heres-why\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">lead-up to the halving<\/span><\/a><span data-preserver-spaces=\"true\">, anticipation often builds, driving speculative interest. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, post-halving, the market tends to experience increased volatility as it finds a new equilibrium with the reduced supply.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em>Featured image from Sanfermin.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Litecoin (LTC) price decrease was a healthy retracement as it pulled back toward the $92 mark. Such retracements are standard after prolonged upward trends and are often seen as an opportunity for the market to find stability before continuing its upward trajectory.\u00a0 However, in the case of Litecoin, the bears have become increasingly dominant, signaling potential resistance ahead. LTC has been facing a significant price drop, falling below the crucial $90 level to $89.47, as reported by CoinGecko. The altcoin experienced a minor 0.3% increase in the last 24 hours, which hardly compensates for the troubling seven-day slump of 3.6%.\u00a0 This sharp decline has sparked concerns among investors and traders, as the once-promising bullish momentum seems to have taken a dramatic turn for the worse. Related Reading: Binance Coin (BNB) Price Poised For A Major Breakout \u2013 Which Way Will It Go? Source: Coingecko Litecoin Struggles To Surpass $92\u00a0 One key factor contributing to the current bearish trend is Litecoin&#8217;s inability to climb past the $92 mark. LTC has repeatedly failed to breach this level and has instead posted lower lows, indicating a loss of bullish momentum, as noted in this LTC price report. When a cryptocurrency struggles to surpass crucial resistance levels, it typically shows waning buyer interest and growing selling pressure, leading to a downward spiral. As LTC&#8217;s price continues to decline, investors are now concerned about the $87.65 support level. Historically, this level has held firm during previous price declines as a crucial barrier against further downside movements. However, given the recent price behavior and lack of significant buying support, there are growing concerns that the $87.65 support may falter. Litecoin market cap currently at $6.5 billion on the daily chart: TradingView.com Halving Explained Halving is one of the critical events that have shaped Litecoin&#8217;s history and price movements. Halving is a protocol-driven event that occurs approximately every four years in Litecoin&#8217;s blockchain. During this event, the block reward for miners is reduced by half. In other words, miners receive 50% fewer LTC for verifying transactions and adding blocks to the blockchain. The purpose of halving is to control the inflation rate of Litecoin and ensure a limited supply, similar to Bitcoin&#8217;s halving mechanism. LTC price action in the last 24 hours. Source: CoinMarketCap Related Reading: Shiba Inu: Will This Bullish Formation Lead To A 25% Upsurge? By reducing the mining rewards, halving makes it more challenging and costlier for miners to add new coins to circulation, reducing the recent supply influx. This scarcity can lead to increased demand and potentially drive up the price of Litecoin. Examining Litecoin&#8217;s price action before the upcoming halving event can provide valuable insights into its market dynamics. In the\u00a0lead-up to the halving, anticipation often builds, driving speculative interest. However, post-halving, the market tends to experience increased volatility as it finds a new equilibrium with the reduced supply. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Sanfermin.com<\/p>\n","protected":false},"author":557,"featured_media":544449,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,88545,10,2829,4735],"class_list":["post-544439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-halving-event","tag-litecoin","tag-ltc-price","tag-price-action"],"acf":[],"yoast_head":"\n<title>Litecoin Bulls Barrel Back Toward $92 Level - Will They Succeed?<\/title>\n<meta name=\"description\" content=\"The Litecoin (LTC) price decrease was a healthy retracement as it pulled back toward the $92 mark. 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Such retracements are standard after prolonged upward\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/\" \/>\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=\"2023-07-26T11:40:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-26T11:01:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-169.png\" \/>\n\t<meta property=\"og:image:width\" content=\"806\" \/>\n\t<meta property=\"og:image:height\" content=\"464\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Litecoin Bulls Barrel Back Toward $92 Level &#8211; Will They Succeed?\",\"datePublished\":\"2023-07-26T11:40:53+00:00\",\"dateModified\":\"2023-07-26T11:01:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/\"},\"wordCount\":486,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-169.png?fit=806%2C464\",\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"halving event\",\"Litecoin\",\"ltc price\",\"Price action\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/\",\"url\":\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/\",\"name\":\"Litecoin Bulls Barrel Back Toward $92 Level - Will They Succeed?\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-169.png?fit=806%2C464\",\"datePublished\":\"2023-07-26T11:40:53+00:00\",\"dateModified\":\"2023-07-26T11:01:19+00:00\",\"description\":\"The Litecoin (LTC) price decrease was a healthy retracement as it pulled back toward the $92 mark. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Litecoin Bulls Barrel Back Toward $92 Level &#8211; Will They Succeed?","url":"http:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-169.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-169.png?fit=806%2C464"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","ethusd","halving event","litecoin","ltc price","price action"],"dateCreated":"2023-07-26T11:40:53Z","datePublished":"2023-07-26T11:40:53Z","dateModified":"2023-07-26T11:40:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Litecoin Bulls Barrel Back Toward $92 Level &#8211; Will They Succeed?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-169.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-169.png?fit=806%2C464\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"halving event\",\"litecoin\",\"ltc price\",\"price action\"],\"dateCreated\":\"2023-07-26T11:40:53Z\",\"datePublished\":\"2023-07-26T11:40:53Z\",\"dateModified\":\"2023-07-26T11:40:53Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-169.png?fit=806%2C464","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/544439"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=544439"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/544439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/544449"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=544439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=544439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=544439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}