LTC Could Soar Quickly as It Retests Resistance, Predicts Investor

• Crypto Twitter consumer Shan Belew predicted that LTC would rise to $5K-$10K in a tweet in the present day.
• Belew added that LTC’s value could “degree up” quickly because it retests a key resistance zone.
• At press time, LTC was buying and selling at $89.94 following a 2.58% loss over the previous 24 hours.

The crypto Twitter consumer and Litecoin (LTC) fanatic Shan Belew predicted that LTC would finally rise to between $5K and $10K in a tweet earlier in the present day. Within the publish, he acknowledged that the altcoin’s value is retesting a key resistance zone at $90-$100 and is “able to degree up.”

In his bullish prediction for LTC, Belew added that the present retest of the $90-$100 resistance zone is happening effectively earlier than the Bitcoin (BTC) halving occasion and the anticipated BTC value prime in 2025. Subsequently, the crypto Twitter consumer predicted that LTC will almost definitely solely attain the $5K-$10K zone when BTC reaches its prime for the subsequent bull cycle.

At press time, LTC’s value stood at $89.94 based on CoinMarketCap. That is after it printed a 2.58% loss over the previous 24 hours. However, the altcoin’s weekly efficiency remained within the inexperienced at +16.74%.

From a technical perspective, LTC’s value was rejected by the main resistance degree at $90.95 over the previous 24 hours. It was capable of break above this mark throughout yesterday’s buying and selling session, and reached a excessive of $93.80. It was, nonetheless, unable to shut yesterday’s day by day candle above the main resistance level.

Regardless of the latest rejection by a significant resistance degree, technical indicators on LTC’s day by day chart advised that its value would proceed to rise within the subsequent 24-48 hours. The 9-day EMA line was bullishly positioned above the 20-day EMA line. Along with this, the day by day RSI was in impartial territory, which indicated that LTC’s value nonetheless had house to rise earlier than it is going to be thought-about overbought.

Ought to the bullish technical flags be validated, then LTC’s value could look to flip the aforementioned resistance degree at $90.95 into help. However, LTC’s value getting rejected once more by the resistance degree throughout the subsequent 48 hours could result in it correcting to the help degree at $83.88.

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