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Litecoin price falls towards $43, what to expect?

Litecoin price falls towards what to expect

On the 15th of July, the Litecoin price line lowered towards the $43.00 mark. The cryptocurrency was observed trading within the day’s range of $42.80 to $44.05.

1-Day Litecoin price analysis

Litecoin price chart 1 - 15 July

Litecoin price chart by Trading View

The LTC price stood near the $44.00 mark, and it gradually fell towards the $43.40 level during the first quarter of the day’s trade. At the time of writing, LTC was priced at $43.01 US Dollars.

The Relative Strength Index (RSI) rose to 25.00 at 01:26 GMT. This shows that the cryptocurrency was oversold at the time. At the time of writing, the RSI indicator was observed at 43.77.

What to expect from Litecoin’s price?

Ron Arnhard is a Trading View analyst who believes that LTC is currently completing the ABCDE triangle, as shown in the analyst’s chart below.

Litecoin price chart 2 - 15 July

Litecoin price chart by Trading View

On the 1-Month chart, the crypto analyst highlighted the descending triangle while has led the price line towards its current standing above the $43 level. The crypto analyst is of the opinion that after LTC approached the point ‘d’; which is at the descending trendline near $49, the next move for the trading pair will be for it to move towards ‘e’.

After LTC drops near the $30 mark, this may provide a buying opportunity for LTC traders, and the cryptocurrency’s price might break above the descending trendline.

Will LTC make it or break it?

Not Sure What Touse is another TradingView analyst who has highlighted a triangle pattern for the LTCUSD pair on the 1-D charts.

Litecoin price chart 3 - 15 July

Litecoin price chart by Trading View

In this idea, the analyst suggests that the LTCUSD pair will either break above or below the triangle. Either of the aforementioned cases will prove whether LTC will turn bullish or bearish.

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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