Litecoin Price Analysis: Will LTC Price See Major Crash Post Halving? Here’s What to Expect

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The Litecoin (LTC) market has continued to enjoy a bullish outlook one month toward the third halving event. In the past two weeks, Litecoin price has rallied nearly 50 percent to trade above a key resistance level, around $100.

The pressing question is whether Litecoin Bulls can manage to convert the macro logarithmic downtrend resistance to a support level. If such a scenario plays out in the coming weeks, Litecoin’s price is undoubtedly headed for $200 or beyond. 

However, it would be painful for Litecoin bulls if the resistance levels turn out to be stronger in the coming days.

Currently, #Litecoin MVRV 30D hovers around 35%.

Historically, each time $LTC MVRV 30D exceeds the 30% mark since 2018, a sharp price correction typically follows! This usually translates to a #LTC price drop ranging from 30% to 40%. pic.twitter.com/R5oMMaKWGc

According to popular crypto analyst Ali (Twitter: @ali_charts), crypto traders should take note of possible bull traps at current levels in the Litecoin market. The analyst highlighted the 30-day Market Value to Realized Value (MVRV) has hovered around 35 percent since the recent weekly LTC breakout.

Technically, the analyst highlighted that Litecoin’s price since 2018 has corrected sharply every time the 30-day MVRV exceeded the 30 percent market. 

If Litecoin’s price were to suddenly retract 40 percent from current levels, then it would trade around $60 in the coming weeks, which would significantly liquidate all long traders.