The preferred tokens are working really hard to settle on a bullish close for the week, giving the impression that the markets are getting ready for the approaching Litecoin halving event. The value of almost all cryptocurrencies, including Bitcoin, Ethereum, XRP, and many more, has been holding steady above their recurring support levels despite bearish efforts to drag the degrees lower over the past few days. As a result, the markets are expected to respond positively, with prices securing temporary resistance levels.
In the interim, the price of Litecoin has remained stationary within a predetermined range, failing to initiate either a bullish upswing or a negative fall. increasing the likelihood that the value will be less significantly impacted by the halving event. up addition, information from popular on-chain site Santiment reveals that more merchants have joined up, which means that the stress of purchasing may swiftly increase in the days to come in conjunction with the half event.
According to the data, 1,185 addresses with a total of around 36.6K wallets have been tallied up, each of which contains at least 100 LTC. The dealer’s enthusiasm has been increasing significantly as a result, especially now that there is a chance that the event may result in a bullish breakthrough. Recently, the platform has also released audience calls, which provide insight into market mood. Accordingly, there are currently too many calls for a bull market, which could lead to a sharp increase in the token’s value. The prices are anticipated to decline shortly following the rise, though.
Curiously, demands for a bear market are also rising, which might drive up prices significantly during the next few days. As a result, because the dealer’s sentiments have aligned in both directions, the market conditions continue to be uncertain. As a result, the value of Litecoin has some potential to increase after the halving, but it will not be able to sustain itself above the features for very long.
