Top Crypto Analyst Says Litecoin (LTC) on Track To Extend Rally by Over 60% – But There’s a Catch

A commonly followed crypto expert is forecasting that Litecoin (LTC) will extend its huge rally, however just if a specific condition is satisfied.

Crypto strategist Justin Bennett states in a brand-new concern of his newsletter that Litecoin bulls will need to safeguard an essential cost level or the rally might implode.

Bennett states Litecoin’s cost of $73.20 is playing an essential function in its present rally because it has actually turned to a level of assistance after serving as a level of resistance previously this month and back in May. He states if Litecoin closes listed below $73.20, it will turn back to a resistance level and the token will likely begin to dip.

“LTC has actually been on a tear just recently, getting the confluence of resistance at $73.20, which has actually now turned to support. If that location holds, I believe we see LTC continue greater here into $96.50 and possibly $128. Additionally, a day-to-day close back listed below $73.20 would signify a bearish fakeout and end the rally.”

Litecoin formerly traded at both the $96.50 and the $128 cost levels previously this year. For Litecoin to reach those cost levels once again, it would require to rally another 24% or 64% respectively from its present worth.

LTC has actually seen a considerable boost in cost over the previous couple of weeks, reaching a high of $82.63 in November, an almost 50% boost from its cost of $55.11 at the start of the month. It has actually because supported and is altering hands for $77.82 sometimes of composing.

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