• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Litecoin Analyst Warns of Price Correction; Halving Event Awaited
litecoin

Litecoin Analyst Warns of Price Correction; Halving Event Awaited

July 4, 2023 by Aishwarya shashikumar

Like other cryptocurrencies, Litecoin has gained recognition and acceptance as a form of payment by various merchants and businesses. Crypto analyst Ali suggests that based on Litecoin’s MVRV ratio, when it exceeds 30% as it has since 2018, a significant price correction typically occurs, resulting in a drop of around 30% to 40%.

Currently, #Litecoin MVRV 30D hovers around 35%.

Historically, each time $LTC MVRV 30D exceeds the 30% mark since 2018, a sharp price correction typically follows! This usually translates to a #LTC price drop ranging from 30% to 40%. pic.twitter.com/R5oMMaKWGc

— Ali (@ali_charts) July 2, 2023

Currently, the 30-day MVRV for Litecoin is approximately 35%. Historical patterns show that whenever LTC’s MVRV surpasses the 30% threshold since 2018, it usually triggers a substantial price correction of around 30% to 40%, according to a tweet by analyst Ali.

Over the weekend, Santiment, an on-chain analytics firm, cautioned about a potential local peak formation for LTC as social volume increased. Social volume spikes for LTC often correspond with temporary tops. On June 30, the price of LTC surged significantly, leading to a substantial green candlestick and reaching a high of $114.98 at the time of writing.

Over the past seven days, the token has risen by nearly 27%. Currently trading at $110, LTC has seen a slight increase in the last 24 hours. The daily Relative Strength Index (RSI) is presently above the overbought level of 70, suggesting that bullish momentum might pause briefly before continuing the upward trend.

Litecoin’s Golden Cross Signals Positive Trend Ahead

The formation of a golden cross on Litecoin’s daily chart indicates a positive signal. This pattern occurs when the 50-day moving average (MA) surpasses the 200-day moving average (MA), commonly interpreted as a bullish indicator.

Although moving averages reflect past performance, this signal suggests that Litecoin’s recent short-term gains have exceeded its long-term gains. Chart experts and traders typically view the golden cross as a positive sign for future price increases.

Furthermore, the upcoming halving event in August is expected to provide a bullish boost to Litecoin’s price. Previous Litecoin halvings have been followed by significant price surges, indicating the possibility of a similar scenario if historical patterns repeat themselves.

Filed Under: News, Altcoin News, Blockchain, World Tagged With: Cryptocurrency, Litecoin, positive trend

Primary Sidebar

Recent Posts

  • $40 Barrier in Sight: HYPE Token Shows Signs of Major Move July 10, 2025
  • Solana Price Surge: Can It Break $160? Key Resistance Levels and Market Insights July 10, 2025
  • Bitcoin Hits New All-Time High at $112K as Smart Money Steps In, Eyes $118K Next July 10, 2025
  • Binance Coin (BNB) Tests $662 Support, Bulls Aim for $700 Breakout July 10, 2025
  • Aerodrome (AERO) Gains 37 % in One Month as Breakout Signals Continue to Strengthen July 10, 2025

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2025 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.