• Litecoin (LTC) has been trading around the support/resistance level of $90 since February.
• Captain Faibik predicts that the halving narrative will push Litecoin prices to $120.
• Crypto traders have been speculating on Litecoin prices due to its high trading volume compared to other altcoins.
Overview of Litecoin Price Action
The crypto asset market has seen an increase in activity lately, with miners and speculative traders accumulating at current levels. Notably, the 24-hour traded volume for Litecoin (LTC) is currently at about $461,897,500, and its open interest more than tripled YTD. Popular crypto analyst Captain Faibik also believes that the upcoming halving event will fuel a major breakout that will push LTC prices up to new highs by 2023.
Analysis by Captain Faibik
Captain Faibik predicts that the halving narrative will provide a strong FOMO pump for LTC price action, driving it to hit $120 soon enough. While some traders argue that this event may already be priced in given it’s less than two weeks away from publication time, Captain Faibik is confident that a major breakout is imminent and will spark new highs in 2023..
High Trading Volume Compared To Other Altcoins
Crypto asset traders have been speculating on Litecoin prices due to its high trading volume compared to other altcoins of its caliber. This suggests a possible bullish trend for LTC as investors continue looking for ways they can capitalize on their investments with minimal risk involved.
Halving FOMO PUMP
The halving narrative continues to be front and center as far as speculation goes when it comes to Litecoin price action. The consensus among traders is that once the halving event takes place, there could be a significant surge in LTC prices – something which many are willing to capitalise on before it happens.
Conclusion
With miners increasing their on-chain activity coupled with high trading volume compared to other altcoins – the future looks bright for Litecoin (LTC). The upcoming halving event promises even greater success if predictions by popular crypto analyst Captain Faibik are anything go by – who expects the price of LTC to hit $120 fuelled by the FOMO pump associated with such events