Litecoin price rises above $55, what’s next?

Litecoin price rises above what s next

Litecoin rose past the $57 mark on the 28th of June, while the cryptocurrency had been trading below the $50 level before 17:00 GMT on the 27th of June. LTC price remains bullish with the day’s range of $51.71 to $57.94.

1-Day Litecoin price analysis

Litecoin price chart 1 - 28 July

Litecoin price chart by Trading View

For the day’s lowest, the cryptocurrency had fallen to $51.71, while the coin reached the day’s high at $57.94. At the time of writing, Litecoin was observed trading at $57.19 US Dollars.

Will Litecoin price crash to $4?

Moonsie is a TradingView analyst who believes that LTC price might rise to the $70 to $80 range soon.

Litecoin price chart 2 - 28 July

Litecoin price chart by Trading View

As per the technical analysis of the LTCUSD pair, the cryptocurrency is expected to rise towards the $70 range; however, LTC price is not expected to stay above $70 for long. Instead, it is expected to crash to $4. The analyst believes that as long as the cryptocurrency trades between the $100 mark, it can crash to the $4 level at any time.

In another one of the recent analyses on the LTCUSD pair, the analyst had also suggested that traders take their capital out of the LTCUSD trading pair.

What to expect for LTC price?

Guapeva is another TradingView analyst who believes that LTC price is aiming for new highs.

Litecoin price chart 3 - 28 July

Litecoin price chart by Trading View

The analyst has highlighted that the LTCUSD pair trades in the symmetric triangle pattern, which is a continuation pattern. The technical indicators are observed to be bullish, while the Moving Average Convergence Divergence indicator (MACD) also shows continuation. The Relative Strength Index (RSI) is aiming for a breakout, while the Bitcoin has also broken the symmetric triangle upwards.

As per this analysis, the cryptocurrency may rise to greater highs if the trading pair breaks the symmetric triangle upwards. It is important to note that in the previous bullish run, LTC formed an ascending triangle pattern, which was then broken upwards, as shown in the chart above.

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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