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Sunday, November 27, 2022
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    HomeMarketIs Litecoin a good investment?

    Is Litecoin a good investment?

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    LTC has been among the finest performers within the final seven days and might be set for extra rallies over the approaching hours and days.

    The cryptocurrency market is slowly recovering from its latest hunch, and Litecoin is main the way in which. LTC, the native coin of the Litecoin blockchain, is one of the best performer amongst the highest 20 cryptocurrencies by market cap.

    At press time, the price of Litecoin is $78.90 and will rally towards the $90 resistance degree over the subsequent few hours or days. 

    What’s driving Litecoin’s worth larger at present?

    LTC has been rallying over the previous few days regardless of the poor efficiency of the broader crypto market. The rally started just a few days in the past after it was revealed that the subsequent Litecoin halving event will happen on August third, 2023. 

    The Litecoin halving is much like the Bitcoin halving occasion, the place the reward issued to miners for unlocking blocks on a community is decreased by 50% after each 4 years. 

    The Litecoin neighborhood is already counting all the way down to the halving occasion, which might see the block reward cut back from 12.5 LTC cash to six.25 cash per block post-halving. 

    LTC is up by greater than 35% within the final seven days and might be set for larger positive factors quickly. 

    What’s the outlook for the Litecoin worth?

    Litecoin may rally larger over the subsequent few hours and days. Its optimistic efficiency comes because the broader crypto market recovers from its latest hunch, giving Litecoin a lift.

    If the bullish momentum is maintained, Litecoin may rally towards the $90 resistance degree over the subsequent few hours or days. A transfer above $100 continues to be potential within the occasion of an prolonged bullish run. It could be the primary time LTC is buying and selling above $100 since June 2022. 

    Litecoin technical evaluation

    The LTC/USD 4-hour chart is bullish, as Litecoin has been performing nicely over the past 24 hours. The technical indicators present that Litecoin is outperforming the broader crypto market.

    The MACD line is above the impartial zone, indicating bullish momentum. The 14-day RSI of 73 reveals that LTC may quickly enter the overbought area if the optimistic momentum is maintained.

    If the rally continues, LTC may surge previous the primary main resistance degree at $89 earlier than the top of the day. Within the occasion of an prolonged optimistic efficiency, LTC may transfer previous the $100 psychological degree for the primary time in practically six months. 

    Easy methods to purchase Litecoin?

    Comply with these easy steps to purchase Litecoin:

    Step 1: Open an eToro account: 

    Go to the official eToro web site and open an account inside a couple of minutes. 

    Step 2: Fund your account:

    Fund the newly-opened eToro account along with your native fiat foreign money. You possibly can deposit as a lot as you need. 

    Step 3: Begin buying and selling Litecoin:

    You possibly can instantly begin buying and selling Litecoin towards a number of different cryptocurrencies like Bitcoin or towards fiat currencies just like the GBP or USD.

    The place to purchase Litecoin now

    eToro

    eToro gives a variety of cryptos, resembling Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro customers can join with, study from, and replica or get copied by different customers.


    Buy LTC with eToro today

    Bitstamp

    Bitstamp is a number one cryptocurrency change which gives buying and selling in fiat currencies or well-liked cryptocurrencies.

    Bitstamp is a totally regulated firm which gives customers an intuitive interface, a excessive diploma of safety to your digital belongings, glorious buyer help and a number of withdrawal strategies.


    Buy LTC with Bitstamp today



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