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.
Litecoin Price Chart by Trading View
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.
