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Litecoin price falls to $45: what’s next?

Litecoin price falls to what s next

Litecoin price fell towards the $45.00 level on the 11th of June. Crypto analysts believe that LTCUSD has a low trading volume, and in order for it to see an uptrend, the volume should increase. The trading pair traded within a day’s range of $44.75 — $46.95.

1-Day Litecoin price analysis (11th June)

Litecoin price chart 1 - 11Jun

Litecoin Price Chart by Trading View

At the start of the 11th of June, the cryptocurrency traded at the $46.60 level, after which it moved to a day’s high above the $46.90 level. Following BTC’s downtrend, the cryptocurrency turned bearish and the price line saw a gradual decline on the daily charts. At the time of writing, LTC traded at $45.10 US Dollars.

Litecoin price movement; what to expect?

Trading view analyst Minisham37 believes that the technical indicators depict a bullish divergence for the LTCUSD pair.

Litecoin price chart 2 - 11Jun

Litecoin Price Chart by Trading View

The crypto analyst is of the opinion that LTC is accumulating currently; however, if Litecoin clears the $60 price target then it might see a significant movement upwards.

Litecoin price heading into a rollback?

Another Trading view analyst Ambassador J believes that the LTCUSD volume continues to stay low as of the 11th of June, and in order for the cryptocurrency to see an uptrend, the trading volume needs to increase.

Litecoin price chart 3 - 11Jun

Litecoin Price Chart by Trading View

The analyst explained that LTC may have good support near the $40 range, while the cryptocurrency’s multiple attempts to break above the $50 level have been failing. Bitcoin price has a high influence on LTC’s trading pattern.

The analyst believes that the cryptocurrency may fall towards the bottom of the trading channel drawn in the chart above. The fall in LTC price may follow a short price bump.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan 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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