Litecoin Price Could Undergo a 30-40% Correction, Here's Why
With the Litecoin halving event just around 40 days from now, there’s a strong bullish sentiment around the cryptocurrency. While analysts have been giving further bullish price targets for LTC, the on-chain indicator suggests that investors should maintain some caution going ahead. Popular crypto analyst Ali Martinez explained: advertisement 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%. Courtesy: Santiment Earlier this year in 2023, the Litecoin (LTC) price crossed $100 twice, however, it soon faced strong selling pressure thereafter seeing a fall of nearly 20% before rising back once again. Litecoin Halving Ahead As per the schedule, the Litecoin blockchain will undergo the halving event next month around mid-August. Litecoin enthusiasts are getting ready for an imp...
