- Litecoin price predictions expects a $50 high coming soon.
- Litecoin facing strong resistance above $46.
- The first price target is set to be at the $47.5 mark.
The Litecoin price prediction by the Trading View analyst Solldy suggests that the cryptocurrency will rise towards the $47.5 mark soon. The cryptocurrency traded near $46 on the 27th of September after stooping to a low near the $44.7 mark. Previously, the cryptocurrency varied near $45.5.
Price of Litecoin
The price fell to a day’s low of $44.64. Litecoin was priced at $46.42 US Dollars on Bitstamp at the time of writing. The 24-hours low was observed at the $44.60 mark.
Litecoin price prediction: what’s next for LTC?
The Trading View analyst Solldy suggested a Litecoin price prediction that the cryptocurrency will rise towards the $48 mark soon. Per the Litecoin price prediction, the LTC price has been traveling above an ascending trend line ever since tit observed the downtrend on the 21st of September.
The trend line has risen the cryptocurrency’s price past the $46 level and now it is expected to test the resistance near the $47.5 mark. This support-turned-resistance was broken by the cryptocurrency on the 21st of September when the price turned bearish. Per the analyst, the LTC price will rise above this ascending resistance soon.
Will Litecoin price see a downtrend next?
The Trading View analyst Alpha Chart is of the opinion that the LTC price will move towards the $45.5 mark on the short-term trade. On the 27th of September, the cryptocurrency broke below an ascending trendline marked by the crypto analyst.
On the 27th of September, the cryptocurrency broke below an ascending trendline marked by the crypto analyst. Per the analyst’s Litecoin price prediction, the cryptocurrency should move towards the $45 mark before observing a brief uptrend towards the $45.93 level, after which it is expected to resume the downtrend. The idea is yet to come into play and the analyst used the 1-hour chart for the LTC USD pair for this technical analysis.
What to expect from Litecoin?
The Trading View analyst Business Start believes that the LTC USD pair has observed a hammer signal on the charts.
The hammer candle pattern occurs when the opening is significantly larger than the current trading price of the asset. Per this Litecoin price prediction, the cryptocurrency should see an uptrend on the long-term trade. This is because hammer candles tend to rise in the long-term. The analyst also stated that the cryptocurrency has seen similar trade patterns in its past. The analyst suggested that traders control their risk.
Litecoin price technical indicators
The Bollinger Bands show increased price volatility near noon on the 27th of September. This is when the cryptocurrency slipped below the $45 mark and moved to the day’s lowest price. At the same time, the Relative Strength Index (RSI) was seen at a low of 16.95. This shows that the cryptocurrency was oversold during the time. For most of the day’s trade, Litecoin remained neutral per the RSI index.
After 16:00 GMT, the cryptocurrency repeated the show of an increase in the price volatility. Just before the time of writing, the price moved below the midline and was supported by the lower Bollinger Band on the 1-hour chart. The histogram size was observed decreasing in the negative region while the Moving Average Convergence Divergence (MACD) line slipped below the signal line.
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