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 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.
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.
