Litecoin halving is coming up: What will happen to the price?

The price of Litecoin (LTC) is one of the top performers on the crypto market 61 days before the much-anticipated halving date.
The cryptocurrency Litecoin (LTC), also known as digital silver, continues to trade within striking distance of its highs for the year. One reason is the approaching halving date of the proof-of-work (POW) altcoin. In just over two months, the block reward on the Litecoin blockchain will be halved to 6.25 LTC. 
In addition, Litecoin is benefiting from the hype around ordinals and reached a new all-time high on the network in the previous month. The LTC price seems to be honouring this and continues to form higher lows. Starting from the last prominent high at 104 US dollars, the Litecoin price consolidated only a good 25 percentage points before the buy side took the helm again in the area of 78 US dollars and lifted the LTC price back to the current 92 US dollars.
Litecoin: Bullish price targets for the coming months  Bullish price targets: 93.64 USD, 98.28 USD, 102.52/107.18 USD, 115.05 USD, 133.67/140.48 USD, 153.93 USD, 167.17 USD 
After stabilising above the moving average of the last 200 days (EMA200) (blue), the price of Litecoin has been gradually moving north again in recent days. Currently, the buy side is trying to overcome the resistance level at 93.64 US dollars, which has been relevant several times this year.  A recapture of this price level should lead the LTC price towards 98.28 US dollars again. This would put Litecoins only a few percent away from the orange resistance area between 102.52 US dollars and 107.18 US dollars. So far, the LTC price has failed more in the previous months at the old breakout edge from May 2022. If the bulls manage a sustainable breakout above this resistance zone 61 days before the halving date, the chart picture will brighten further and the way would be clear to the horizontal resistance level at 115.05 US dollars.  Here, however, the LTC price should merely take a breather. Instead, the buy side is likely to do everything it can to approach the next target area between 133.67 USD and 140.48 USD. This range is derived from several interim highs of the previous year as well as the overriding 38 Fibonacci retracement. If the bitcoin price does not throw a spanner in the little brother's works, this resist zone seems a realistic target area until the block halving on 2 August.
After a price gain of around 50 per cent, investors are likely to collect more profits here. Only if the entire crypto market can also sustainably shake off its consolidation movement of the last six trading weeks should Litecoin set its sights on the previous year's high of USD 153.93. After that, a rise to the long-term price target of USD 167.14 can no longer be ruled out. 
 Litecoin: Bearish price targets for the coming months Bearish price targets: 88.29 USD, 85.00 USD, 80.31/77.97 USD, 68.89 USD, 66.10/63.19 USD, 61.04 USD, 57.73/55.50 USD, 50.72 USD, 47.21 USD  
The sell side failed in the previous month in its attempt to sustainably sell off the LTC price towards the south. The blue support area between USD 80.31 and USD 77.97 represented an insurmountable hurdle for the bears. In order to preserve the chance of a price correction, the LTC price must now remain capped below the orange resistance area. Only a drop below yesterday's daily low at 88.29 US dollars would be an indication of renewed price consolidation.  
The bearish tendency would then strengthen with a dynamic break of the EMA200 at 85.00 US dollars. However, the blue support area between 80.31 US dollars and 77.97 US dollars will only come into view again if the cross support of the super trend and the superordinate green upward trend line around 82.42 US dollars is sustainably broken. This make-or-break level will determine whether Litecoin corrects back towards its low for the year. 
 If, contrary to expectations, Litecoin falls below this strong support zone in the area of the last lows, a sell-off towards the horizontal support at 68.89 US dollars is to be expected. The bears were unable to undercut this price level on a daily closing basis in March. Once again, the buy side is likely to resist. However, if this support is undercut dynamically, the light blue zone between 66.10 US dollars and 63.19 US dollars will come into focus for investors. This area has acted as an important pivot point several times in the last 12 months and should therefore offer an interesting entry level.
 However, if this zone is breached to the south, the chart picture will become even gloomier.  The probability of a correction above 61.04 US dollars towards the green support zone between 57.73 US dollars and 55.50 US dollars would increase noticeably. In perspective, the LTC price should then decline towards its price lows from autumn 2022 between 50.72 US dollars and 47.21 US dollars.
A look at the indicators The RSI has formed a fresh buy signal due to the price strength in the last seven trading days. The MACD indicator also shows a long signal and was able to recover above the significant 0-line. In the weekly chart, the RSI is currently also generating a fresh buy signal, which still needs to be confirmed by the end of the week. The MACD is currently still showing a slight short signal, but this could be negated in the near future if the price remains strong.