A famous crypto trader has updated his forecast for a popular altcoin.
The popular trader, known by the nickname DonAlt, updated his forecast for Litecoin (LTC) and informed his 486,900 Twitter followers about it. According to the crypto strategist, it’s time for Litecoin to act. DonAlt thinks that if Litecoin breaks out of its current range, it could gain over 100% with a rapid rise.
According to the crypto analyst, Litecoin could quickly rise above 100% if it manages to break out of its current range.
“It’s back to $90.
If it breaks this cursed level, we will reach $200 faster than you can imagine.”
At the time of writing, the altcoin is trading at $91.40, up over 2% in the last 24 hours.
While DonAlt sees a huge upside potential for Litecoin, he stated in a different post on YouTube that the current market environment is making it difficult for Litecoin bulls to initiate a rally. The crypto strategist stated that taking into account the overall market situation and other factors, Litecoin’s bullish momentum could be challenging.
“I think it’s an interesting altcoin because it’s an expected development, but it has to happen very soon. The problem is that the Litecoin halving will happen in about 70 days, so it will happen very soon, so if you want to get a spike in the event, or at least a little before it, it will have to happen very soon, and the altcoin market is not doing well…”
The Litecoin halving event is expected to take place on August 2 this year.
As a result, DonAlt’s forecast for Litecoin shows a high potential for growth, but also indicates that current market conditions may affect this potential. Investors should make their decisions based on their own risk tolerance and research and take into account the volatile nature of cryptocurrencies.
You can follow the current price action here.