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Litecoin price falls to $60, what’s next?

Litecoin price falls to what s next

The Litecoin price line fell below the $60 level on the 21st of August. Dysangel is a Trading View analyst who believes that the LTC price will rise above the $70 level soon.

1-Day Litecoin price analysis

Litecoin price chart 1 - 21 August

Litecoin price chart by Trading View

At the start of the day, the cryptocurrency traded near the $63 level. For the day’s highest, the cryptocurrency reached the price of $63.87 US Dollars. The price trajectory depicted bears as it proceeded towards the end of the 24-Hour chart.

Litecoin closed the 21st of August with a price near the $59 level. At the time of writing, the coin’s price was observed at $58.93 US Dollars.

What’s next for Litecoin’s price?

The Trading View analyst Dysangel is of the opinion that the LTCUSD pair may push towards the upside. The analyst drew the technical analysis for the LTCUSD trading pair on its 4-Hour chart.

Litecoin price chart 2 - 21 August

Litecoin price chart by Trading View

The analyst highlighted two accumulation zones for Litecoin from July and August, 2020. In the first accumulation zone from July, the price line stayed between the $40 and $45 levels after which it rose past the $50 level. From the start of August, the LTC price had reached the $60 level.

Litecoin has repeated this trend and the analyst has suggested that it may repeat the upward movement as well, which will lead the LTC price to rise across the $70 price level. If LTC closes above this resistance, the cryptocurrency will turn bullish.

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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