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Litecoin price falls to $44: pullback ahead?

Litecoin price falls to pullback ahead

Litecoin price was observed moving across the $45.00 mark right before it reached the charts for the 14th of June. The cryptocurrency turned bearish and fell towards the $44.00 level. Crypto analysts believe that the LTCUSD pair will see a pullback in the near future.

1-Day Litecoin price analysis (14th June)

Litecoin price chart 1 - 14 June

Litecoin Price Chart by Trading View

At the start of the day, LTC traded near $45.10 US Dollars, after which the cryptocurrency was observed falling downwards on the price chart. The price approached a day’s low of $43.84. At the time of writing, the LTCUSD pair was observed at $44.15 US Dollars.

The Relative Strength Index (RSI) was observed at 26.18 at 05:40 GMT. This shows that Litecoin was slightly oversold at the time.

Litecoin price movement; pullback ahead?

Jay Stieren is a TradingView analyst who believes that LTC price will see a pullback in the short trade.

Litecoin price chart 2 - 14 June

Litecoin Price Chart by Trading View

The analyst drew the target price mark at $36.60 for this pattern. The technical indicators depict that the cryptocurrency shall break below the ascending triangle pattern. If this happens, then the LTCUSD pair will become bearish, and the LTC price will see a pullback towards the $36.60 mark.

Litecoin price movement; what’s next?

LCFX Pro is another TradingView analyst who believes that the LTCUSD pair will see a downward move next.

Litecoin price chart 3 - 14 June

Litecoin Price Chart by Trading View

As per the crypto analyst’s idea, if the cryptocurrency observes a breakout below the rising trendline, the LTC price will fall towards the $24.44 mark. This will be an impulse similar to the one that appeared in early March 2020.

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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