- Crypto Twitter consumer Shan Belew predicted that LTC will rise to $5-10,000 in a tweet at present.
- Belew added that the worth of LTC might “flatten out” as soon as it retests the important thing resistance zone.
- At press time, LTC was buying and selling at $89.94 after a 2.58% loss within the final 24 hours.
Crypto Twitter consumer and Litecoin (LTC) fanatic Shan Belew predicted that LTC would ultimately rise from $5,000 to $10,000 in a tweet earlier at present. Inside by submithe said that the worth of the altcoin is retesting the important thing resistance zone at $90-100 and is “able to go greater”.
Belew added that the present retest of the $90-$100 resistance zone is nicely forward of Bitcoin (BTC)’s halving occasion and the anticipated BTC value peak in 2025. A crypto Twitter consumer later predicted that LTC would doubtless solely attain the $5K-$10K zone when BTC peaks for the following bull cycle.
At press time, LTC was buying and selling at $89.94 on CoinMarketCap. This comes after a 2.58% loss was printed within the final 24 hours. Regardless of this, the weekly indicator of the altcoin remained within the inexperienced at +16.74%.
From a technical perspective, the worth of LTC has rejected the very best resistance stage at $90.95 within the final 24 hours. Throughout yesterday’s buying and selling session, it managed to interrupt above this restrict and reached a excessive of $93.80. Nonetheless, he couldn’t shut yesterday’s every day candle above the primary resistance level.
Regardless of the current rejection at a significant resistance stage, technical indicators on the LTC every day chart indicated that its value will proceed to rise within the subsequent 24-48 hours. The 9-day EMA line was very excessive above the 20-day EMA line. Moreover, the every day RSI was in impartial territory, indicating that LTC value nonetheless had room to rise earlier than it will be thought of overbought.
If the upper technical flags are confirmed, the worth of LTC might change the above $90.95 resistance stage to help. Then again, LTC value is once more rejected on the resistance stage within the subsequent 48 hours, might result in the help stage as much as $83.88.
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