Litecoin’s price has been floundering to break past the$95.75 resistance position since January 29. Despite multiple attempts, the cryptocurrency has failed to overcome this chain, leading to a 38 crash from a original top at$ 105. still, a quick recovery saw Litecoin recapture its losses and set up another original top at$103.63.

The forthcoming third halving event, which is set to do in three months, has investors wondering if it’ll spark a price rally. Historically, Litecoin’s price has tended to rise ahead and after halving events. still, the current state of Litecoin’s price suggests that the cryptocurrency may underperform compared to former halving events.

Litecoin’s Underperformance Compared to former Halving Events

Litecoin’s price has been constantly underperforming compared to former halving events. In 2015, Litecoin’s price rallied by over 500 before the alternate halving event, and by over 2,500 after the event. also, in 2019, Litecoin’s price rallied by over 600 before the alternate halving event, and by over 1,500 after the event.

In discrepancy, Litecoin’s price has only risen by around 22 in the lead up to the third halving event. likewise, the cryptocurrency has failed to break past the crucial resistance position of$95.75, suggesting that investors may be reluctant to buy in expectation of a price rally.

Will Litecoin’s Third Halving Event Detector Volatility?

Despite Litecoin’s underperformance, the forthcoming third halving event could still spark volatility in the cryptocurrency request. The halving event, which occurs every four times, reduces the block price miners admit for vindicating deals. This reduction in force is anticipated to produce upward pressure on Litecoin’s price.

Still, it remains to be seen if this pressure will be enough to push Litecoin past the crucial resistance position of$95.75. still, a decisive flip of the$ 73 support position could spark a farther 21 crash to$ 57, If Litecoin is unfit to break past this position.78.

Conclusion

Litecoin’s price has been wandering erratically around a critical position, with investors unfit to successfully flip it or break down below it. Despite the forthcoming third halving event, Litecoin’s price has been constantly underperforming compared to former halving events. While the halving event could spark volatility in the cryptocurrency request, it remains to be seen if it’ll be enough to push Litecoin past the crucial resistance position of$95.75. Investors should remain conservative and cover Litecoin’s price movements nearly.