With a healthy 24-hour trading volume of almost $756 million, the Litecoin (LTC) market continues to rank among the top altcoins in the market. Additionally, the impressive $305 million open interest for Litecoin over the course of the last day indicates a rise in interest from crypto fans.

The Litecoin community is excitedly anticipating the upcoming third halving event set for August 03, 2023, with the cryptocurrency now trading around $84.72 during the early London session on Wednesday.

Litecoin Price Likely to Hit $100 Before August Halving

With a fully diluted valuation (FDV) of over $7.1 billion, Litecoin ranks as the third-largest proof-of-work (PoW) secured blockchain, significantly boosting its market presence. The price of Litecoin is anticipated to fluctuate more than usual in the next months as a result of significant news.

However, industry experts predict that the bullish outlook, driven by increased on-chain activity, will subdue any bearish sentiments before the year concludes and it is a chance to say yes to question Will Litecoin Go Up $100 Before August Halving now.

“…, it seems more likely to us that the Litecoin price will break out of this consolidation to the upside. We have set a price range of $128-136 as the first place where we could cover some of our longs and take profit on medium-term trades,” P_S_trade noted on TradingView.