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Litecoin price rests near $42, what’s next?

Litecoin price rests near what s next

On the 17th of July, the Litecoin price line rose above the $42 mark. At the time of writing, LTC was observed trading at $42.09 US Dollars.

1-Day Litecoin price analysis

Litecoin price chart 1 - 17 July

Litecoin price chart by Trading View

Litecoin traded above the $42 mark at the beginning of the 17th of July, after which it saw ruffled movements until before noon when the cryptocurrency turned bullish. For the day’s highest, the price line reached the $42.43 mark, while the day’s lowest for the 17th of July was $41.65 US Dollars.

What to expect from Litecoin’s price?

Jay Stieren is a TradingView analyst who believes that the LTCUSD pair will see a short opportunity and fall towards the $41 mark.

Litecoin price chart 2 - 17 July

Litecoin price chart by Trading View

On the 17th of July, the LTCUSD pair rose across the $42.20 level before breaking below the ascending triangle pattern shown in the 30-Minute chart above.

The price line broke below the trading pattern, and it has fallen towards the $42 mark, if the idea comes into play, the cryptocurrency’s price should move towards the $40.93 level.

What’s next for LTC?

Cycle Wave is a TradingView analyst who believes that the cryptocurrency is undergoing a wave correction, and it will fall below the $41 mark. The analyst drew their technical analysis on the 30-Minute chart for the LTCUSD pair.

Litecoin price chart 3 - 17 July

Litecoin price chart by Trading View

The analyst has stated that the LTCUSD pair is in the fifth internal wave of the third sub-wave on the third wave down. If this idea comes into play, LTC price will move below the $41.0 mark, after which it will move approach the last sub-wave and fall below the $39 mark.

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.

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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