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Litecoin price falls to $42.6: uptrend next?

Litecoin price falls to uptrend next

On the 24th of June, the Litecoin price line fell towards the $42.63 level. Skinwah, the TradingView analyst, believes that the LTCUSD pair is accumulating in its current trading range, and it may see an uptrend ahead.

1-Day Litecoin price analysis (24th June)

Litecoin price chart 1 - 24 June

Litecoin Price Chart by Trading View

At the start, Litecoin traded near the $44.20 level after which it gradually moved past the $44.60 level. Here, the LTCUSD pair reached a high of $44.65 US Dollars. After 06:50 GMT, LTC turned bearish and abruptly fell towards the $43.40 mark. As the day passed, the cryptocurrency’s price further lowered towards the $42.60 mark.

At the time of writing, Litecoin traded at $42.63 US Dollars.

Litecoin price; move towards the lower $40s

Ambassador J is a TradingView analyst who stated that the LTCUSD pair is expected to fall towards the lower $40 range.

Litecoin price chart 2 - 24 June

Litecoin Price Chart by Trading View

As per the idea, Litecoin was expected to have a short opportunity towards the low $40s. On the 24th of June, the cryptocurrency turned bearish and fell towards the $42 mark. This shows that the trade is active and the idea came into play.

Litecoin price movement; uptrend ahead?

Skinwah is another TradingView analyst who believes that the LTCUSD pair is currently under heavy accumulation.

Litecoin price chart 3 - 24 June

Litecoin Price Chart by Trading View

The analyst depicted a triangle pattern on the daily LTCUSD chart, and they stated that the cryptocurrency is expected to break past this small triangle pattern.

If this idea comes into play, Litecoin is expected to see a 50% uptrend, which will lead the coin’s price across the $60 mark.

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.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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