The Litecoin price line rose past the $59.5 mark on the 10th of August before it returned below the $58 level. Crypto analysts on Trading View are of the opinion that the cryptocurrency’s price will rise past the $80 mark soon.
1-Day Litecoin price analysis
Litecoin price chart by Trading View
At the beginning of the 24-Hour trade, LTC stood at the $57 mark. For the day’s highest, the cryptocurrency approached $59.49 US Dollars. At the time of writing, the LTC price was observed at $57.81 US Dollars.
What to expect from LTC price?
The LTCUSD pair was examined by the Kxa the Trading View analyst who believes that the cryptocurrency is about to break above the descending trendline that started above the $350 mark.
Litecoin price chart by Trading View
The trendline can be observed starting at the $1 mark while the LTCUSD pair continues to follow it as it proceeds. The analyst has high hopes for the LTCUSD pair as they believe that the LTC price will go long-term after breaking above this pennant-like trading pattern and move towards the $80 mark as its next target price.
What’s next for Litecoin’s price?
Hiendang is another Trading View analyst who believes that the LTCUSD pair will rise above the $80 mark.
Litecoin price chart by Trading View
On the 1-Day chart for the LTCUSD pair, the analyst highlighted the accumulation zones for the cryptocurrency ever since 2020 started. The cryptocurrency has been trading above a support line near the $40 mark since the first week of April 2020 and it has risen above the $60 mark at the start of August 2020.
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.
