Litecoin is preparing to break through the mark of $140

12.06.2019 09:28:31

On June 12, Litecoin (LTC) began to win positions in almost all trading platforms.

The rate of the coin approached $138, and within the next hour, it may exceed the psychological mark of $140. The capitalization of the digital asset reached $8.577 billion with a daily trading volume of a bit over $5.352 billion.

Litecoin fixed on the fourth line in the ranking of the largest cryptocurrencies according to the CoinMarketCap.

It should be noted that LTC price grows against the background of the negative trend on the crypto market. Bitcoin and Ether, on the contrary, are becoming cheaper and have already dropped to $7,915 and $246, respectively.

At the beginning of the week, Litecoin was trading at $114 and was able to gain more than 13% in just one day. LTC traded just below $140 in May last year, so today the annual maximum was updated against the upcoming halving in August.

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Litecoin founder Charlie Lee is confident that even after reducing the miner’s reward by half, mining a digital asset will not lose profitability.

Many analysts agree that Litecoin will be able to demonstrate the rally over the next two months, and then there will be a long rollback phase to the minimum values. However, the negative correction will not be destructive for the coin, and it will keep the defense at a level above $100.