Litecoin price fluctuates above $57, what’s next?

Litecoin price returns above what s next

The Litecoin price line had fallen below the $55.5 mark on the 29th of July, while the trading pair’s trajectory returned above the $57 level on the 30th of July. However, the price is fluctuating between $56 and $57 at the time of writing.

1-Day Litecoin price analysis

Litecoin price chart 1 - 30 July

Litecoin price chart by Trading View

The Litecoin price began the day’s trade near the $55 mark on the 30th of July. At the time of writing, the cryptocurrency traded at $57.45 US Dollars.

What is expected for Litecoin price?

TradingView analyst FXCM believes that the LTCUSD pair will observe an upwards push past the $62 mark.

Litecoin price chart 2 - 30 July

Litecoin price chart by Trading View

In the short-term trade, the LTCUSD pair is expected to rise past the $62 mark. The entry-level for this trade is at $54.38, while the stop-loss was at $51.32, and the analyst set the target price at $62.90.

If this idea comes into play, the LTC price will approach the $62.91 mark.

What’s next for LTC?

Another Trading View analyst, Authentic Whale, is of the opinion that Litecoin is up for a rise in its price ahead.

Litecoin price chart 3 - 30 July

Litecoin price chart by Trading View

The analyst drew two descending trendlines while the steeper trendline appears to form a descending triangle. The LTCUSD pair has approached the upper boundary of the descending triangle, and it is expected to break out of the descending triangle, which will then allow the cryptocurrency to move towards the next descending triangle.

The technical indicator shown in the chart above does depict a bullish divergence. If the cryptocurrency makes its way past the descending triangles, then this idea may come into play, and the LTCUSD pair is expected to rise across the $200 mark. Though, this is an idea for a long trading pattern.

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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