It’s been reported that a new Litecoin rally is in the cards. Check out the latest reports revealed by an important analyst below.
New LTC price prediction is out
According to a well-known crypto strategist, there is potential for Litecoin (LTC) to experience a significant surge in value prior to its third halving.
According to analyst Michaël van de Poppe, the upcoming days hold significant importance for the price movement of Litecoin.
As per the crypto trader’s analysis, for Litecoin to initiate its halving rally, it needs to overcome the resistance level of $93.
“Many squigglies on this chart, but higher timeframe resistance is at $93.
Currently, support found at $82 and a strong bounce -> weekly candle looks good.”
He continued and said the following:
Next week breaking through $93 and the halving rally might start.”
According to the latest reports coming from the online publication the Daily Hodl, Litecoin’s halving is expected to take place on August 2nd, 2023. At the time of writing, LTC is trading for $91.32.
Van de Poppe also made sure to address the layer-2 scaling solution Polygon (MATIC). According to the crypto analyst, MATIC could be seeing a surge by as much as 61% if it manages to take out a key resistance level.
“I really want to see it flip $0.95, then we can accelerate towards $1.30-1.50.
If that’s not the case, then short is activated, and longs can be taken at $0.75.”
Bluntz is another analyst who recently addressed the prospects of Litecoin (LTC), Bitcoin (BTC), and Ethereum (ETH) moving forward.
As per Bluntz, an anonymous analyst, Litecoin is presently in a consolidation phase and could potentially see a breakout soon.
According to Bluntz, the upcoming Litecoin halving event is expected to maintain the altcoin’s bullish trend. This event, which marks the third Litecoin halving, is slated to occur in about two months.
“Solid high timeframe contraction happening on LTC. I think the halving narrative keeps this one propped up.”