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Litecoin price remains almost stagnant at $46: what’s next?

Litecoin price remains almost stagnant at what s next

Litecoin price drew a straight line over the $46 level on the charts for the 9th of June. The cryptocurrency exhibited a sharp fall towards the $20.00 mark, after which it returned to the $46 mark. CryptoTony1, a TradingView analyst, believes that LTC will see a pullback soon.

1-Day Litecoin price analysis (9th June)

Litecoin price chart 1 - 9JunLitecoin Price Chart by Trading View

Litecoin LTC treaded over a quite straight path for the 9th of June. The cryptocurrency tripped and fell below the $20.00 mark for a very short period, after which it returned back to the $46 mark. The LTCUSD trading pair was observed trading within a day’s range of $20.00 — $46.88. At the time of writing, Litecoin was priced at $46.09 US Dollars.

Litecoin price into a pullback move?

CryptoTony1 is a TradingView analyst who has suggested that LTCUSD will see a downtrend in the upcoming months.

The analyst explained that the cryptocurrency market may see a pullback soon. The idea chart that CryptoTony1 drew suggests that the cryptocurrency will first see an uptrend above the $100 mark, after which it will fall below $10.

Litecoin price chart 2 - 9Jun

Litecoin Price Chart by Trading View

The Relative Strength Index (RSI) stands above 50.00 as per the chart above. The idea suggests the trading pattern for a long trade.

On the daily charts, the RSI indicator fell to a low of 1.01 at the time the cryptocurrency’s price briefly fell to $20.00. This extremely low value of the RSI indicator shows that Litecoin was highly oversold at the time. The technical indicator recovered shortly after the price returned to $46.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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