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Litecoin price moved past $49.50: what’s next?

Litecoin price moved past what s next

While following BTC, the Litecoin price line showed a constant incline towards the $49.50 mark. The cryptocurrency followed the uptrend on the 1st and 2nd of June. The LTCUSD pair traded within a day’s range of $44.63 — $49.93.

1-Day Litecoin price analysis (2nd June)

Litecoin Price ChartLitecoin Price Chart by Trading View

On the 1st of June, LTC price stood below the $46.00 level. The cryptocurrency appeared bullish and its price line began climbing on the daily charts. By the 2nd of June, the cryptocurrency stood above the $48.00 mark. The LTCUSD pair moved towards the $49.50 mark as the day proceeded. At the time of writing, the Litecoin / US Dollar trading pair was observed at the $49.55 mark.

The Relative Strength Index (RSI) moved past 75.00 on the 2nd of June. This showed that Litecoin was overbought at the time, while the RSI remained bullish over the day’s charts. The cryptocurrency moved past the $49.50 level near 10:30 GMT on the 2nd of June. At the time of writing, the RSI was observed at 52.52.

Litecoin: what’s next?

Crypto_MD is a TradingView analyst who believed that the LTCUSD pair will see an uptrend towards the $50 daily resistance. 

Litecoin Price Featured Chart

Litecoin Price Chart by Trading View

The crypto analyst discussed two strong candles from the chart that they posted in their idea. The analyst suggested that the strong candles hold good momentum and as the price recently broke past the resistance, it will now head towards the daily resistance. The LTC price made its way to a day’s high of $49.98 US Dollars on the 2nd of June.

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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