dailyhodl.com
A closely followed crypto strategist believes that Litecoin ($LTC) isn’t finished rallying even after its strong performance over the last few days.
Pseudonymous analyst Rekt Capital tells his 347,500 Twitter followers that $LTC is currently following a script that could send the peer-to-peer payments network to a level last witnessed in January 2022.
According to the trader, $LTC’s move above its major resistance at $93 suggests that the altcoin could surge as high as $140 before its next halving event.
“$LTC pre-halving rally is well on its way.
$LTC is following the green path very well so far.”
A halving event is traditionally viewed as a bullish catalyst as it slashes miners’ rewards by 50%. In the case of Litecoin, its next halving is slated for August 2nd.
At time of writing, $LTC is worth $111.40, up over 11% in the 24 hours.
The crypto strategist is also keeping an eye on Ethereum ($ETH). According to Rekt Capital, Ethereum is likely on its way to $2,275 after respecting its high timeframe support.
“$ETH has successfully retest the ~$1,680 (red) level as support and has rallied +14% to the upside.
Following the blue path well.”
At time of writing, Ethereum is trading for $1,917, up over 1.5% in the past day.