Litecoin (LTC) cryptocurrency supporter Shan Belew made a prediction that LTC will rise to $5-10 thousand. In his opinion, the altcoin price will retest the key resistance zone at $90–100 and head up.
Digital silver will likely only reach the $5,000-$10,000 zone when Bitcoin (BTC) peaks during the next halving bull cycle.
According to CoinMarketCap, on the afternoon of June 25, the LTC price was $89.94, registering a daily loss of 2.58%. However, the altcoin's weekly performance remained positive at 16.74%.
From a technical perspective, LTC price was rejected by the major resistance level at $90.95. However, during the trading session the day before yesterday, the cryptocurrency was able to overcome this mark and rise to a maximum of $93.80. At the same time, it was not possible to close the daily candle above the main resistance point.
Despite this, technical indicators on the daily LTC chart suggested that its price would continue to rise in the next 24-48 hours. The 9-day EMA line was bullishly above the 20-day EMA line.
In addition to this, the daily RSI was in neutral territory, indicating that LTC price has potential to rise before it enters overbought territory.
If the bullish technical flags are confirmed, then LTC price could turn the aforementioned resistance level at $90.95 into support. On the other hand, over the next 48 hours, LTC price may deviate from the resistance level again, leading to a correction to support at $83.88.#litecoin $LTC
