Additionally, Litecoin is benefiting from headwinds on US crypto exchange EDX's Most Popular Markets list ahead of its August halving.
For reference, EDX Markets is the most regulated/friendly US exchange backed by several major US financial institutions, setting itself apart from its competitors.
Meanwhile, in the August half, which took place in less than 30 days, Litecoin's usage rate dropped from 12.5 LTC tokens per block to 6.25 LTC.
While this may not always be the case with Litecoin, Bitcoin halvings are historically bullish, and traders are betting that the upcoming halving will be a big event for LTC.
Is it too late to buy Litecoin (LTC)?
After a 40% rally from the June low, some traders may feel they missed an opportunity to buy a dip.
Is it too late to buy Litecoin?
Short answer: No, probably not.
This is because Litecoin's price forecast is strong, which means that those currently investing at price levels above $100 still have a very good chance of making strong short-term gains.
That's because, even if we forget about the storm in the broader cryptocurrency market (like Bitcoin at annual highs), the ADX chart of the market and half, Litecoin is looking good on the chart.
The recovery from the June lows confirmed that LTC remains in a strong rally from the 2022 lows.
In addition, the recent pump high that sent LTC above major moving averages has re-exploded the bullish pennant structure.
While a break below the $100 level is a strong possibility, bear buyers could force a quick stop and push LTC towards the mid-$100s.
Litecoin (LTC) Alternatives to Consider - yPredict (YPRED)
Investors should always try to diversify their cryptocurrency holdings.
A high-risk, high-reward investment strategy that some investors may consider is participating in cryptocurrency pre-sales.
This is where investors buy tokens from new crypto projects to support their growth.
These verses are always sold at low prices and have a long pre-sale history that makes big profits for early investors.
Most of these projects have great teams behind them and a great vision to deliver a revolutionary cryptographic software/platform.
If an investor can identify such projects, the risk/reward ratio of pre-sale investment is very good.
The Cryptonews team spends a lot of time verifying projects before sales to help investors.
One project with great potential is an artificial intelligence (AI)-based Web3 startup called yPredict.
The platform is best known for its financial value forecasting system at the institutional level.
Based on yPredict's deep in-house data analysis, observers believe the tool will help cryptocurrency investors easily find the next explosive cryptocurrency.
The best part is that the yPredict cryptocurrency price forecasting system is free and open to all users: the price forecast will be publicly available and no login is required to view it, the project's white paper explains.
But yPredict offers investors more than just cryptocurrency price predictions.
The project builds a state-of-the-art cryptocurrency research and trading platform that offers traders and investors dozens of AI-powered signals, breakouts, pattern recognition and social/news sentiment features. In YPredict Litepaper.
The platform also makes several other AI-powered tools, including a revolutionary content management system.
As AI continues to make waves in the cryptocurrency industry and beyond, projects like yPredict are expected to generate significant interest.
This is why many industry observers believe AI cryptocurrencies like yPredict's home $YPRED token are among the next best performing coins.
The $YPRED presale has crossed its milestone
As of July 5 , the project has raised more than $2.7 million.
Investors should act quickly to anticipate the next price increase when initial sales reach $2.98 million.
Check out yPredict here
Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes only and is not investment advice. You can lose all your capital.