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Litecoin price holds $46.50 support; moves to $48

Litecoin price holds support moves to

On the 4th of June, the Litecoin price line climbed towards the $48 level after successfully holding the $46.50 support. The cryptocurrency saw a brief pullback towards the $46.50 mark after 09:00 GMT, after which it continued the uptrend across $47. The LTCUSD pair traded within a day’s range of $46.38 — $48.13.

1-Day Litecoin price analysis (4th June)

Litecoin Price ChartLitecoin Price Chart by Trading View

LTC price held near the $46.00 level at the beginning of the 24hour trade, after which it moved above the $46.50 support. The cryptocurrency gradually moved across the $48 mark as it approached the 4th of June. After observing a short pullback towards the $46.50 support at 09:00 GMT, the cryptocurrency recovered above the $47.00 mark. At the time of writing, Litecoin traded at $47.62 US Dollars.

Litecoin: move towards $48?

Daniel_Ramsay is a TradingView analyst who believed that LTC price should see an uptrend towards the $48.00 level after it fell towards $46 on the charts. The analyst suggested the traders buy as the risk-reward was good at the time.

Litecoin Price Featured Chart

Litecoin Price Chart by Trading View

On the 4th of June, Ramsay’s idea came into play and completed when the cryptocurrency moved across the $48 mark.

Litecoin: whats next?

TradingAlchemist is another TradingView analyst who believed that the cryptocurrency would continue moving towards the $49 mark, as the nearest support at $46.5 held well during the trade. 

Litecoin Price Featured Chart

Litecoin Price Chart by Trading View

This idea seems to be in play as LTC rose towards the $48 level on the 4th of June. LTC continues to hold the $46.5 support, which means that the LTCUSD pair will remain bullish as per the idea.

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.

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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