- Crypto Twitter person Shan Belew predicted LTC to hit $5,000-$10,000 in a tweet right this moment.
- Belew added that LTC worth could “stabilize” as quickly because it retests a key resistance space.
- At press time, LTC was buying and selling at $89.94 after dropping 2.58% prior to now 24 hours.
Crypto Twitter person and Litecoin (LTC) fanatic Shan Belew predicted that LTC would finally attain between $5,000 and $10,000 in a tweet earlier right this moment. Within the jobhe stated the altcoin worth is retesting a key resistance zone at $90-$100 and is “prepared to maneuver increased.”
In his bullish prediction for LTC, Belew added that the present retest of the $90-$100 resistance zone takes place properly forward of the Bitcoin (BTC) halving occasion and the anticipated excessive in BTC worth. in 2025. Subsequently, crypto person Twitter predicted that LTC will more than likely solely attain the $5,000-$10,000 space when BTC hits its peak for the following bull cycle.
As of press time, the worth of LTC stands at $89.94 based on CoinMarketCap. That is after printing a lack of 2.58% within the final 24 hours. However, the weekly efficiency of the altcoin remained within the inexperienced at +16.74%.
From a technical standpoint, LTC worth has been rejected by the most important resistance degree at $90.95 within the final 24 hours. It managed to interrupt by way of this bar in yesterday’s buying and selling session and reached a excessive of $93.80. It was, nevertheless, unable to shut yesterday’s day by day candle above the principle resistance level.
Regardless of the latest rejection by a serious resistance degree, technical indicators on LTC’s day by day chart instructed that its worth would proceed to rise within the subsequent 24-48 hours. The 9-day EMA line was positioned increased above the 20-day EMA line. On high of that, the day by day RSI was in impartial territory, which indicated that LTC worth nonetheless had room to rise earlier than it was deemed overbought.
If the bullish technical indicators are validated, then LTC worth might look to tip the aforementioned resistance degree at $90.95 into help. Alternatively, LTC worth being once more rejected by the resistance degree within the subsequent 48 hours may trigger it to right to the help degree at $83.88.
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