Read the article to the end, as arguments will be given that will help you understand the further price movement.

Today at 20:00 Moscow time. Litecoin* halving will take place, as a result of which the reward for miners will decrease from 12.5 to 6.25 LTC per block. Who knows about Halving itself, go below, there is a forecast for further price movement #Litecoin .

Litecoin Halving: History and Impact on the Cryptocurrency Rate

Halving is an event that attracts the attention of all participants in the cryptocurrency market. This reduction in the reward for miners for mining a block is one of the key fundamental factors that has a positive impact on the cryptocurrency rate. Today the halving of Litecoin, one of the most popular and stable cryptocurrencies, will take place.

Litecoin, based on open source code, was created by Charles Lee in October 2011 as a "little brother" to Bitcoin. It used the Proof-of-Work (PoW) algorithm and had a fast block generation time of 2.5 minutes, making it faster and easier to transact than Bitcoin.

Halving is not only an event that will affect the cryptocurrency rate, but also a symbol of the development and sustainability of the blockchain. Through halving, cryptocurrencies face supply constraints, which could stimulate investor interest and strengthen Litecoin's position in the market.

The first Litecoin halving took place in August 2015. When the blockchain reached height 840,000, the reward for miners decreased from 50 LTC to 25 LTC per block. This event was greeted with lively interest and debate about its possible consequences.

It is important to note that previous Litecoin halvings had a significant impact on its price. For example, in the run-up to the first halving in 2015, the price of Litecoin started rising from around $1 and peaked at $8, an impressive 700% increase.

However, in the second Litecoin halving, which occurred in August 2019, at blockchain 1,680,000, when the reward decreased to 12.5 LTC per block. The price during the year fell from $90 to $25. From $30. And only in December 2020 did growth begin.

Today, at the third halving, the reward for miners will decrease from 12.5 to 6.25 LTC per block. Many traders are waiting to see how the price will behave, since we found out that the price was falling last time after the halving...it is worth remembering that past successes do not guarantee future results. Below we will study the conditions and reasons for the price drop and the current situation.

* Breakout is the closing of the candle body behind a specified level. * Rollback is a level upon reaching which, with a high probability, the price may begin to correct to the previous, breakout level or go into a deeper correction to the level of resistance or support of the main trend. You can record your profit without waiting for your goal. Use positive sl and trailing stop

First, let's look at the 2015 halving:

Studying the daily timeframe chart, we see that before the halving, there was a trend resistance level that did not allow the price to move up. When the body of the candle first closed behind this level, the price began to rise. In this regard, the answer is obvious, the growth did not occur after the halving due to basic technical conditions.

Now the weekly chart during the 2019 halving period until its growth at the end of 2020.

As we can see, the price was in a bearish trend on the weekly chart even before the halving. Please note that before the halving, the trend support level (orange) was broken, and therefore the price fell, and after the halving, the fall continued to the trend support level (green). Later it was broken - this explains the reason for the continued fall in price.

The growth began, as you can see, only after the breakdown of the trend resistance level of the bearish chart. More than six months after the halving.

Now let’s study in detail the weekly chart of our time:

For the first time, the price before halving is in an upward trend; at the beginning of November 2022, the trend resistance level was broken. All these factors indicate a positive mood and the market is moving within the bullish trend (green). I foresee a continuation of the correction to the trend support area, as it was earlier, and after a rebound from it, continued growth. However, we must be prepared for anything; in the event of a breakdown of the support level (green), it is worth considering the option of starting a fall due to a change in trend. To summarize, at the moment, halving can have a beneficial effect on the continued growth of prices, providing for a correction.

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