Popular crypto analyst DonAlt is gaining momentum. Litecoin (LTC) expressed his views about it. The analyst also identified critical levels for LTC.
Publisher of technical analysis video DonBottomHe noted that the rally in Litecoin price could surpass the $400 level it reached in May 2021.
The analyst’s initial price level is currently between $160 and $200. This means an average 150% increase from the current level. At the time of writing, Litecoin was trading around $78, up 22% compared to last week.
“My goal is not to sell around $100. My initial target is somewhere between $160 and $200. However, it is interesting at the levels between $300 and $400. Litecoin could hit an all-time high. It didn’t perform very well during the bull market, but it has that strength.”
DonAlt predicts that Litecoin price will move to the other side when the market moves. altcoinHe believes it will outperform. But he also stated that when there are drastic corrections, it will fall even harder than the rest.
“My preference is Litecoin. If it is completed sooner than I expected, I will look for other alternatives. But for now, I’ll stick to my goal. If altcoins rise, LTC will rise even harder. But if they do, LTC will drop a little less.
Overall I think Litecoin is a good investment. Based on that, there’s little reason for me to go anywhere else because I think it’s a pretty big upside, if not as risky as other things.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.