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Litecoin price rests near $44 after forming a Gartley bearish

Litecoin price rests near after forming a Gartley bearish

On the 23rd of June, the Litecoin price was seen varying near the $44.00 price level. As per the day’s range, LTC traded within the levels of $43.90 and $44.45.

1-Day Litecoin price analysis (23rd June)

Litecoin price chart 1 - 23 June

Litecoin Price Chart by Trading View

At the start of the trade, the LTCUSD pair stood near the $44.40 level, while at the time of writing, Litecoin was priced at $44.04 US Dollars.

The Relative Strength Index (RSI) stayed between the 30.00 to 70.00 levels for most of the day, while it moved towards a  high of 72.87 at 14:11 GMT. This slightly high value for Litecoin shows that the cryptocurrency was mildly oversold at the time. At the time of writing, the RSI indicator was observed at 42.57.

Litecoin price Gartley bearish

Alexander Nikitin is a TradingView analyst who is of the opinion that a bearish Gartley has formed on the 4-hour charts for the LTCUSD pair.

Litecoin price chart 2 - 23 June

Litecoin Price Chart by Trading View

The Gartley can be seen forming over a course of 5 days; from the 17th of June till the 22nd of June.

Litecoin price movement, what’s next?

Bert Groffman is a TradingView analyst who expects LTC price to head up on the price charts.

Litecoin price chart 3 - 23 June

Litecoin Price Chart by Trading View

The analyst highlighted the behavior of the cryptocurrency on the 4-hour price chart, where the LTCUSD pair showed multiple downward curves near the $42 level, which was followed by an uptrend. Litecoin has shown a similar trading pattern between the 9th and the 22nd of July, and the crypto analyst expects the price to show higher lows at now.

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.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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