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Litecoin price continues trade near $43

Litecoin price continues trade near

The Litecoin price line rose across $44 on the 18th of June. The cryptocurrency traded within a day’s range between $42.80 and $43.68. Pidenuze is an analyst who believes that LTC will see an uptrend. 

Per Coinmarketcap.com, Litecoin has a market rank of 7, with a market capitalization of $2,792,568,088 US Dollars.

1-Day Litecoin price analysis (19th June)

Litecoin price chart 1 - 19 June

Litecoin Price Chart by Trading View

The cryptocurrency stood near the $44 level at the beginning of the 18th of June, after which it saw a fall towards the $42.80 mark. The price approached the day’s low of $42.8 at 03:50 GMT. Litecoin traded at $43.53 US Dollars at the time of writing.

The 20-Day Exponential Moving Average (20EMA) closed at $43.46, while the 20-Day Moving Average (20MA) was observed at $43.44. LTCUSD pair showed a downward move for the day’s trade.

The Relative Strength Index (RSI) rose to a high of 76.65 near 09:05 GMT. The coin appeared overbought at this time. At the time of writing, the RSI indicator was observed 49.81.

Litecoin price, what’s next?

Pidenuze is a TradingView analyst who believes that LTC price will see an uptrend of 10% in the near future.

Litecoin price chart 2 - 19 June

Litecoin Price Chart by Trading View

As per the analyst, the cryptocurrency will see a brief rollback towards the $42.5 level before rising through to the $47 mark. Currently, this trading idea seems active. The target price for this idea lies at $47.5.

However, Litecoin’s pattern will depend on the king of cryptocurrency Bitcoin BTC’s trend. The trading volumes for LTCUSD still appear low for a long upward bullish move.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com 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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