Key Takeaways
- Litecoin continued with its bullish trajectory and surged high, marking a giant upswing and hitting its highest point since April 2022.
- Dogecoin’s price is also on the rise, with a 15% increase recorded over the weekend.
- The Litecoin Halving event is fast approaching; hence the crypto markets are believed to receive the larger boost required to maintain a healthy upswing.
Litecoin (LTC) Surged More than 40% in July
Source: Tradingview
- Litecoin price plunged hard during the 2022 bear market and formed the bottom in May 2022. Since then, the price has been displaying significant strength, maintaining a healthy upswing.
- The pre-halving impact has lifted the price by more than 140% since the start of 2023, slicing above the crucial resistance at the 200-day MA at $100.84.
- The price, after testing the major resistance at $113.56, is facing a minor pullback and hence may continue to trade within an ascending triangle.
- However, the RSI is in the bullish range, and the ADX is about to trigger a rebound in the long term. Hence the price may undergo a minor consolidation for a while, beyond which a decent breakout may lift the price above crucial resistance.
Read More: Litecoin Halving in 2023
Dogecoin triggers Fresh Upswing; Target is still Distinct
Source: Tradingview
- Dogecoin price has been maintaining a steep descending trend for quite a long time, maintaining consecutive lower highs and lows.
- The recent bounce has lifted the price above the bearish pattern, but the breakout may only be validated once it secures above the interim resistance at $0.0737.
- The MACD is bullish and is closer to rising above the average levels, indicating larger price action may be on the horizon.
- Furthermore, if the price manages to clear the upper resistance at $0.0771, a fine upswing may lead the price toward the upper targets.
Read On: Dogecoin Price Prediction
Litecoin & Dogecoin:- Both May Maintain a Huge Upswing Ahead
Litecoin has been displaying immense strength ever since the hype around the Litecoin halving event caught fire. The price, which maintains a strong bullish trend, is expected to rise finely soon after the halving and may also form a new ATH close to $500. New highs may be formed in the near future, which may further trigger a fine upswing within the entire crypto space.
Besides, Dogecoin’s popularity waned after Elon Musk’s SNL event in 2021; the price has been trading with less variation since then. The community appears to be bullish on the DOGE price, which is expected to impact the rally on a positive note. However, it has been failing to regain levels at $0.07, which is the major concern at the moment.
While both altcoins are currently self-assured of a notable upswing, rising above the interim resistance at $120 for Litecoin and $0.077 for Dogecoin may only trigger a fine upswing ahead.
Additional Read: Litecoin Price Prediction
