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Litecoin price rests near $42, what to expect?

Litecoin price rests near what to expect

On the 16th of July, Litecoin price fell towards the $41.50 mark. The cryptocurrency trades between the $41.50 and $42.50 levels, while crypto analysts on TradingView believe that LTC price may see an uptrend ahead.

1-Day Litecoin price analysis

Litecoin price chart 1 - 16 July

Litecoin price chart by Trading View

At the start of the 16th of July, LTC traded between the $43.00 and $43.50 price levels, while it turned bearish after the first quarter of the day’s trade. Before 07:30 GMT, the price had fallen below the $41.50 mark. At the time of writing, Litecoin was observed trading at $42.02 US Dollars.

For the day’s highest, LTC price reached the $43.43 mark, while the day’s lowest price was recorded to be $41.14.

What to expect from Litecoin’s price?

Baki Shirzadi is a TradingView analyst who believes that the LTCUSD pair will drop towards the $39 support.

Litecoin price chart 2 - 15 July

Litecoin price chart by Trading View

As per the crypto analyst’s idea, the buy zone for this trade lies near the $39.026 mark, which means that if LTC price falls to the support next, it will then turn bullish and move past the $50 mark as shown in the chart above.

For this trading idea, the analyst has suggested that traders buy LTC in the $37 to $39 zone.

What’s next for LTC?

Henrudena is another TradingView analyst who is of the opinion that the LTCUSD pair will see a rise towards across the $50 mark.

Litecoin price chart 3 - 15 July

Litecoin price chart by Trading View

On the 1-Day chart, the analyst drew a wave correction for the LTCUSD pair, and they believe that the cryptocurrency will move past the $60 mark to complete this wave correction.

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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