A popular crypto analyst is setting new potential price targets for Litecoin (LTC) as it starts to build momentum.
In a new Technical Roundup strategy video, pseudonymous analyst DonAlt tells his 44,400 Youtube subscribers that rallying Litecoin could crack its previous all-time high of almost $400, which it hit back in May 2021.
His first higher price target level is in the area of $160 to $200, which would be up to a 156% increase from LTC’s current value. At time of writing, Litecoin is changing hands at $78.08, a more than 22% increase from its close a week ago.
“Target wise, I’m not looking to sell [at] $100. I’m looking for somewhere… between $160 to $200. And around $300, $400 would be interesting to me. I could see this making the all-time high. It didn’t really do too much during the bull market. And it has the chart set up to make that happen.”
The strategist predicts that moving forward, Litecoin will outpace other altcoins when the market moves, rallying faster when the market bounces and dropping harder when it corrects.
“I’m going to play Litecoin. And if that runs early, I might rotate into other things. But for now, I’m going to stick with the one that I’m reasonably certain – if altcoins go up, Litecoin will go up harder. If altcoins go down, Litecoin will go down a little bit less.
I think Litecoin is a good trade in general. So based on that, there’s little reason for me to go elsewhere because I think this has quite the big upside, while not being as risky as other things.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Eky Rima Nurya Ganda
The post Crypto Trader Details Massive Price Target for Litecoin, Says LTC Could Lead Altcoin Charge appeared first on The Daily Hodl.
Source: Daily HODL
Original Post: Crypto Trader Details Massive Price Target for Litecoin, Says LTC Could Lead Altcoin Charge