With the appreciation of several cryptocurrencies during the current high, traders are looking for new opportunities. It seems that Litecoin is a good choice in the long run.
According to trader Altcoin Sherpa, LTC is an option to “buy and forget”.
It is worth noting that the trader defends Litecoin as a good possession for the long term. Therefore, it is important not to create expectations for the coming weeks.
Betting on Litecoin
At the time of writing, Litecoin is quoted at R $ 1,014.46. On Friday (12), trader Altcoin Sherpa posted on his Twitter:
“Litecoin is one of the best (cryptocurrencies) to keep for the long term, in my opinion. I believe it is good to have a space in your wallet for her and let it go.
High chance of hitting historic high levels in the coming months, given the other big cryptocurrencies. ”
Litecoin’s historic maximum is R $ 2,018.14. Thus, LTC is almost 50% away from its maximum history today.
Bearing in mind that Sherpa understands Litecoin to be a long-term investment, it is important to highlight the resistance between the historic maximum and the current quote.
The trader then published a chart highlighting the resistances that can be faced until then. Altogether, there are three of them.
At the current dollar exchange rate, resistance in reais is: R $ 1,168.83, R $ 1,460.96 and R $ 1,743.90. After breaking the last resistance, Sherpa does not highlight any other impediments until the maximum.
In a bull market where cryptocurrency shots are constantly missed and new opportunities sought, Sherpa’s opinion may be valid.
In any case, it is interesting to note that this is a long-term investment. So, traders looking for projects to quickly and riskily turn capital into a fortune, Litecoin may not be the best option.
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