Litecoin (LTC) has been performing strongly in recent days, and a popular crypto strategist believes that the rally is far from over. Rekt Capital, a pseudonymous analyst with a significant following on Twitter, suggests that LTC could reach a level not seen since January 2022.
According to Rekt Capital, LTC’s move above its major resistance at $93 indicates that the altcoin could surge as high as $140 before its next halving event. A halving event is often viewed as a bullish catalyst as it cuts miners’ rewards by 50%. For Litecoin, this halving is scheduled for August 2nd.
The current price of LTC is $111.40, representing an increase of over 11% in the past 24 hours. Rekt Capital’s analysis suggests that the pre-halving rally is well underway and that LTC is following its projected path.
In addition to Litecoin, Rekt Capital is also keeping a close eye on Ethereum (ETH). The analyst suggests that ETH is likely to reach $2,275 after successfully testing its high timeframe support. Ethereum is currently trading at $1,917, reflecting a gain of over 1.5% in the past day.
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In conclusion, the recent rally of Litecoin suggests that it may continue to climb, reaching levels not witnessed since January 2022. The upcoming halving event is seen as a potential catalyst for further price appreciation. Ethereum is also showing strength, with the potential to reach $2,275. To stay informed and make sound investment decisions, subscribing to newsletters, monitoring price action, and staying connected through social media platforms can be crucial. However, it’s essential for investors to conduct their own research and assess their risk tolerance before making any investment decisions.
