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Crypto Analyst Said Pre-Halving Rally for LTC Has Already Started

Even though Litecoin (LTC) has been doing well in the last few days, a well-known crypto expert thinks that it still has room to go up.

Pseudonymous analyst Rekt Capital told his 347,500 Twitter followers that LTC is currently following a script that could send the peer-to-peer payments network to a level not seen since January 2022.

The trader said that LTC’s move above its big resistance at $93 shows that the altcoin could rise 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.”

Source: Rekt Capital/Twitter

Because miners’ benefits are cut in half, a halving event is often seen as a reason to buy. The next split for Litecoin will happen on August 2.

At the time of writing, LTC is worth $111.40, which is an increase of over 11% in 24 hours.

The cryptocurrency expert is also watching Ethereum (ETH). Rekt Capital says that if Ethereum keeps its high term support, it is likely to go to $2,275.

“ETH has successfully retest the ~$1,680 (red) level as support and has rallied +14% to the upside.

Following the blue path well.”

Source: Rekt Capital/Twitter

At the time of writing, the price of Ethereum is $1,917, which is an increase of 1.5% from the day before.