- Crypto Twitter user Shan Belew predicted that LTC would rise to $5K-$10K in a tweet today.
- Belew added that LTC’s price may “level up” soon as it retests a key resistance zone.
- At press time, LTC was trading at $89.94 following a 2.58% loss over the past 24 hours.
The crypto Twitter user and Litecoin (LTC) enthusiast Shan Belew predicted that LTC would eventually rise to between $5K and $10K in a tweet earlier today. In the post, he stated that the altcoin’s price is retesting a key resistance zone at $90-$100 and is “ready to level up.”
In his bullish prediction for LTC, Belew added that the current retest of the $90-$100 resistance zone is taking place well before the Bitcoin (BTC) halving event and the expected BTC price top in 2025. Subsequently, the crypto Twitter user predicted that LTC will most likely only reach the $5K-$10K zone when BTC reaches its top for the next bull cycle.
At press time, LTC’s price stood at $89.94 according to CoinMarketCap. This is after it printed a 2.58% loss over the past 24 hours. Nevertheless, the altcoin’s weekly performance remained in the green at +16.74%.
From a technical perspective, LTC’s price was rejected by the major resistance level at $90.95 over the past 24 hours. It was able to break above this mark during yesterday’s trading session, and reached a high of $93.80. It was, however, unable to close yesterday’s daily candle above the major resistance point.
Despite the recent rejection by a major resistance level, technical indicators on LTC’s daily chart suggested that its price would continue to rise in the next 24-48 hours. The 9-day EMA line was bullishly positioned above the 20-day EMA line. In addition to this, the daily RSI was in neutral territory, which indicated that LTC’s price still had space to rise before it will be considered overbought.
Should the bullish technical flags be validated, then LTC’s price may look to flip the aforementioned resistance level at $90.95 into support. On the other hand, LTC’s price getting rejected again by the resistance level within the next 48 hours may lead to it correcting to the support level at $83.88.
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