- Litecoin price hits the $44.53 mark on the 23rd of September.
- Litcoin moving in an ascending channel.
- Litecoin facing strong resistance at the $58 mark.
The Litecoin price line for an ascending slope on the 1-day chart for the 22nd of September. The price rose towards the $45 mark but was unable to sustain that position. Crypto analysts on Trading View expect the LTC price to fall towards $40. On the 21st of September, the cryptocurrency rested near the $43 level.
Litecoin price movement in the last 24 hours
The LTC price was observed at $44.53 during the time of writing on Bitstamp. The cryptocurrency’s price was observed at a high of $45.07 US Dollars.
Litecoin price prediction: a return above $50?
The Trading View analyst Solldy believes that the LTCUSD trading pair will rise towards an ascending resistance level soon. The resistance lies above the $58 level.
The cryptocurrency fell towards the $46 level on the 3rd of September when the price line broke below an ascending parallel channel. The crypto analyst is of the opinion that the LTC price is currently being pushed up from the descending support line that it appears to trade above.
If the price can move above the first ascending resistance, it will confirm a support level here and observe sideways movement before heading on towards the second resistance. This resistance level is the lower boundary of the ascending channel. If the cryptocurrency reenters the ascending channel.
Will Litecoin continue to fall?
Trading View analyst Vince Prince is of the opinion that the LTC price will fall bearish after testing the resistance cluster. The price is expected to fall towards the $40.8 level.
Near the resistance cluster, there are multiple resistances highlighted together. There is a descending resistance in black, the 30-Day Exponential Moving Average, and the horizontal resistance in red. All of these resistances together form a dense resistance cluster.
The analyst believes that the LTC price will rise towards this resistance cluster, after which it will fall bearish and continue falling down along the descending resistance in black. This trade is currently active and the price has risen towards $45 on the 22nd of September.
What’s next for the LTC price?
The Trading View analyst Marty Boots is of the opinion that the LTC price will fall towards the $38 mark soon. The analyst highlighted a support-turned-resistance at $45.17.
The LTC price fell below the horizontal support-turned-resistance near $45 on the 21st of September. The crypto analyst is of the opinion that the price will fall towards the $38 mark after seeing a slight uptrend to the $44 level. The first target price for this trade was laid at $44.30, while the second target price was marked at $38.31.
What to expect from LTC?
The Trading View analyst Project Syndicate believes that the LTC price will observe a 15% price correction and fall towards the $40 mark.
In their technical analysis the analyst stated that this is a swing setup, which means that there are no fast gains here. The stop-loss was marked at 3% while the bears are expected to lead the price towards the $40 level. On the 22nd of September, the cryptocurrency fell towards the $41.66 level. The trade is currently in play.
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