The Litecoin price line saw another move towards the downside on the 21st of September. The cryptocurrency moved below to the $43 level. On the previous day, the price line varied closed above the $46 mark on the charts.
Litecoin price movement in the last 24 hours
The cryptocurrency observed a day’s high of $47.65. LTC price fell to a day’s low of $41.70 US Dollars at 14:40 GMT. Litecoin was observed trading at $43.99 at the time of writing on Bitstamp.
What to expect from Litecoin?
The Trading View analyst Median Line Analysis is of the opinion that the LTC price will rise towards the $800 mark in a long-term trade.
The cryptocurrency is currently supported above an ascending trend line per the trading chart. The crypto analyst believes that the LTC price will make its way across the $800 mark once this trade comes into play. The analyst used the 1-day chart for the LTC/USD trading pair for this technical analysis.
What’s next for Litecoin?
The Trading View analyst Ride The Pig is of the opinion that the LTC/USD trading pair will observe a wave pattern on the 1-day chart. Per the analyst, the cryptocurrency’s price will fall towards the $40 mark in a long-term trade.
The LTC price is expected to turn bullish and rise past the $52 level where the seller market will come into play and the cryptocurrency will return towards the $40 mark. The target price for this trade was marked at $40.08. The cryptocurrency may hold above the $49 level support once it rises above it, before falling towards the $40 level. The analyst also stated that if the cryptocurrency breaks below the $40 level before retesting the $54 mark, the price will be expected to fall towards $25.06.
Will LTC see a rise soon?
The Trading View analyst Crypto Koch is of the opinion that the LTCUSD pair will rise across the triangle pattern and turn bullish. The analyst highlighted the triangle trading pattern for the cryptocurrency on the 1-day chart.
The analyst marked several trade orders. If the cryptocurrency’s price falls towards the lower boundary of the triangle where T3 lies, the analyst suggests traders double their long position. At T2, which lies in the middle of the triangle, the long position should be increased by the traders. If the LTC price rises to the descending trend line of the triangle, then the traders should open a long and short position at that point. The stop-loss for this trade was marked at $20.65.
The target price levels for this trade were marked at $145.83 and $360.35. In order for this trade to complete, the cryptocurrency should break above the triangle pattern.
Litecoin price technical indicators
The cryptocurrency’s price exhibited increased volatility near 15:00 GMT on the 21st of September. This is when the price fell towards the day’s low near below $42. The Moving Average Convergence Divergence (MACD) line and the signal line were observed below the -0.40 level on their scale. At the same time, the histogram size was seen at its highest in the negative region.
Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.