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1 July 2022
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Litecoin is one of the best cryptocurrencies to buy now

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. ”

Altcoin Sherpa gives his opinion on Litecoin. Source: Altcoin Sherpa /Twitter

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.

Litecoin resistance forecast
Litecoin resistance forecast. Source: Altcoin Sherpa / Twitter

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.

Read also: DeFi Token shoots 1,463% in just one month

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Read also: Nassin Taleb says he gave up Bitcoin: “he became a den of deniers

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