Litecoin price rises above $50 after 3 months

Litecoin price rises above

On the 27th of July, the Litecoin price line was observed moving towards the $49.50 mark. In the afternoon, the cryptocurrency fell below the $47.50 level. Crypto analysts on TradingView were already of the view that that LTC price will soon see a rise above the $50 mark.

The day’s lowest for LTC price was observed at $46.98, while the cryptocurrency reached a day’s high of $55.75. At the time of writing, Litecoin was observed trading at $54.05 US Dollars.

Litecoin price chart 1 - 27 July

Will Litecoin see a rise towards $100?

Olutobi Ogunsemore is a TradingView analyst who believed that there will be a crypto breakdown soon.

Litecoin price chart 3 - 27 July
Litecoin price chart by Trading View

In their technical analysis, the analyst highlighted that various altcoins have made their way above the 75% fibonacci retracement level, and LTC price could pump towards this level and rise further. As per their idea, the analyst believes that LTC price will rise towards $100 in the near future.

What’s next for Litecoin price? 

Cycle Wave is a TradingView analyst who believes that LTC price will turn bullish soon.

Litecoin price chart 3 - 27 July

Litecoin price chart by Trading View

On the 30-Minute chart for the LTCUSD trading pair, the crypto analyst highlighted wave corrections. The analyst exclaimed that the trading pair is 4th subwave correction of the 3rd wave up. The price trajectory is in Y wave down of the 4th subwave correction.

The cryptocurrency is expected to stay bullish around the $46 to $47 trading range until it hits the buying zone, after which it will an uptrend which may help LTC move past the $50 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.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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