Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

• LTC’s trading volume was up >70% in 24 hours.
• More short positions liquidated, reinforcing bulls’ little edge.

Litecoin’s [LTC] halving is around the corner, but the price was yet to cross the $100 psychological level as of press time. Nevertheless, the LTC trading volume was up >70% in the last 24 hours, as per CoinMarketCap. LTC bulls must contend with crucial resistance levels despite the upsurge in volume being a bullish cue.  

Is your portfolio green? Check out the LTC Profit Calculator 

LTC’s lower and higher timeframes were in a bearish bias. With uncertainty around BTC’s short-term recovery, LTC has posted mixed signals across the on-chain activity ahead of 4 August halving.  

Can bulls clear these overhead roadblocks?

LTC’s price rebounded from the recent low of $88. But the price hit the crucial resistance level of $95. The level acted as a brief support in early July but was flipped to resistance amidst the increased weakening of BTC. 

A weak BTC below the range-low of $29.5k could complicate further advance beyond the immediate $95 resistance. So, a retest of 38.2% Fib level of $88 couldn’t be overruled. 

However, LTC bulls’ furth

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Author: Benjamin Njiri

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