Analysts Suggest Litecoin (LTC) May Drop 20% Before Halving, Investors Switch to Collateral Network (COLT) For Consistent Price Appreciation
As market analysts forecast a potential 20% price drop for Litecoin (LTC) leading up to its next halving event, many investors are looking to hedge their bets. They’re turning their attention toward the Collateral Network (COLT) presale, which offers an attractive opportunity for consistent price appreciation and long-term growth potential.
Litecoin price analysis
The Litecoin halving is an event that sees the block reward for miners cut by half every four years. Scheduled to happen this August 2023, the Litecoin halving typically results in the coin going on a sustained bullish run, with its price rising in anticipation of the event.
Predictions for Litecoin’s halving aren’t quite as encouraging this time around though. Analysts suggest that prices may drop 20% before it happens — leaving Litecoin investors looking for alternate means to benefit from crypto markets.
However, Litecoin has hit a roadblock at the $100 resistance mark, bouncing off this level not once, but twice. This formed a pattern known as a “double top,” which often serves as a harbinger for an upcoming downtrend, signaling a potential reversal in the current bullish market sentiment.
This bearish Litecoin indication was further reinforced by the formation of a bearish engulfing candlestick on the second rejection from the $100 mark. Given these bearish indicators, there’s a high possibility of the Litecoin (LTC) price sliding further down to the significant support level set at $63.
The Relative Strength Index (RSI) on the weekly Litecoin chart lends credibility to this forecast. The RSI exhibited a bearish divergence before the price drop, which typically foretells a bearish market movement. Additionally, the RSI has since fallen below the midline of 50, further substantiating the bearish sentiment.
So, while Litecoin will likely rise prior to the halving event, there is a strong likelihood of the price falling in the near future. With this in mind, investors looking for consistent gains may consider switching to Collateral Network as an alternative investment option.
Collateral Network transcends traditional lending
Collateral Network is a new player in the trillion-dollar asset-backed lending market. The revolutionary platform allows borrowers to access liquidity by using their prized possessions as collateral.
Collateral Network will mint an NFT to represent the collateral and sell it in fractions to a pool of lenders. The lenders, in turn, will earn interest on buying the fractional NFTs. Collateral Network’s innovative lending system opens up the lending market to average investors by providing them with smaller minimum investment sizes and high ROI.
Collateral Network ‘s native token, COLT, is a key to unlocking an array of perks within the Collateral Network ecosystem. These perks include rewards for staking, lowered borrowing fees, first access to new NFT listings, and the best borrowing rates.
COLT can now be purchased for a discounted price of $0.014 during the Collateral Network (COLT) presale. With the price set to ascend during each phase, and with an impending impact on the whopping $4.9 trillion lending market, analysts are predicting COLT to hit at least $0.35 when it launches on Uniswap later this year.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://presale.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
As market analysts forecast a potential 20% price drop for Litecoin (LTC) leading up to its next halving event, many investors are looking to hedge their bets. They’re turning their attention toward the Collateral Network (COLT) presale, which offers an attractive opportunity for consistent price appreciation and long-term growth potential.
Litecoin price analysis
The Litecoin halving is an event that sees the block reward for miners cut by half every four years. Scheduled to happen this August 2023, the Litecoin halving typically results in the coin going on a sustained bullish run, with its price rising in anticipation of the event.
Predictions for Litecoin’s halving aren’t quite as encouraging this time around though. Analysts suggest that prices may drop 20% before it happens — leaving Litecoin investors looking for alternate means to benefit from crypto markets.
However, Litecoin has hit a roadblock at the $100 resistance mark, bouncing off this level not once, but twice. This formed a pattern known as a “double top,” which often serves as a harbinger for an upcoming downtrend, signaling a potential reversal in the current bullish market sentiment.
This bearish Litecoin indication was further reinforced by the formation of a bearish engulfing candlestick on the second rejection from the $100 mark. Given these bearish indicators, there’s a high possibility of the Litecoin (LTC) price sliding further down to the significant support level set at $63.
The Relative Strength Index (RSI) on the weekly Litecoin chart lends credibility to this forecast. The RSI exhibited a bearish divergence before the price drop, which typically foretells a bearish market movement. Additionally, the RSI has since fallen below the midline of 50, further substantiating the bearish sentiment.
So, while Litecoin will likely rise prior to the halving event, there is a strong likelihood of the price falling in the near future. With this in mind, investors looking for consistent gains may consider switching to Collateral Network as an alternative investment option.
Collateral Network transcends traditional lending
Collateral Network is a new player in the trillion-dollar asset-backed lending market. The revolutionary platform allows borrowers to access liquidity by using their prized possessions as collateral.
Collateral Network will mint an NFT to represent the collateral and sell it in fractions to a pool of lenders. The lenders, in turn, will earn interest on buying the fractional NFTs. Collateral Network’s innovative lending system opens up the lending market to average investors by providing them with smaller minimum investment sizes and high ROI.
Collateral Network ‘s native token, COLT, is a key to unlocking an array of perks within the Collateral Network ecosystem. These perks include rewards for staking, lowered borrowing fees, first access to new NFT listings, and the best borrowing rates.
COLT can now be purchased for a discounted price of $0.014 during the Collateral Network (COLT) presale. With the price set to ascend during each phase, and with an impending impact on the whopping $4.9 trillion lending market, analysts are predicting COLT to hit at least $0.35 when it launches on Uniswap later this year.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://presale.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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