The Litecoin price line climbed its daily charts and reached the $44.8 mark. Crypto analysts believe that the LTCUSD pair has a weak trading volume, and if the current situation continues, then Litecoin will face bearish falls.
1-Day Litecoin price analysis (13th June)
Litecoin Price Chart by Trading View
On 13th June, LTC traded within a day’s range of $44.31 — $44.96. The cryptocurrency was observed near the $44.50 level at the beginning of the day, after which it moved below the $44.50 level. Towards the end of the daily trade, the cryptocurrency returned above the $44.50 mark, while at the time of writing, it traded at $44.82 US Dollars.
Litecoin price; what to expect next?
Nagihatoum is a TradingView analyst who believes that the LTCUSD pair trades in a descending channel inside a falling wedge.
Litecoin Price Chart by Trading View
The crypto analyst stated that the price is squeezed by the 100-Day Moving Average (MA) and the support levels. While the pair is expected to reach the resistance of the descending channel and of the falling wedge. LTCUSD pair has had a weak trading volume, and the price appears to be dropping.
Per the crypto analyst’s idea, the LTCUSD pair should hit the $14 bottom in August. The analyst has also shown a fractal (blue) that depicts the cryptocurrency’s breakout above the falling wedge. However, Nagihatoum stated that this might not come into play.
Litecoin price to fall towards $25 next?
Ochin FX is a TradingView analyst who has suggested that the LTCUSD pair will fall towards the $25 level.
The analyst explained that LTC price appears to be moving with consolidations in the current trading range. Ochin believes that the price may test the current range as a solid resistance after breaking it.
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.
