The post Litecoin Halving: To the Moon or Back to $40? Analyst Clash! appeared first on Coinpedia Fintech News

Litecoin (LTC) is currently undergoing a critical phase as its market retests a significant support/resistance level of around $90 on the daily time frame. With the 50 and 200 daily Moving Averages serving as robust support, many experts believe that Litecoin’s price action indicates further potential upside, especially with the impending third halving event in less than three weeks.

However, the market also faces considerable bearish pressure due to the ongoing weekly death cross between the 50 and 200 MAs, raising concerns of a potential decline towards last year’s lows of approximately $40 if bullish momentum wanes.

A Strong Bullish Outlook

Renowned cryptocurrency analyst Captain Faibik remains optimistic about Litecoin’s future prospects. In a recent Litecoin price analysis, Faibik highlighted the possibility of a bullish outlook for the third largest Proof-of-Work (PoW) secured network in the coming weeks. Faibik’s price target for Litecoin during the halving quarter period is $120, implying further potential for price appreciation.