Litecoin price rose across the $43 mark on the 26th of June. The cryptocurrency traded within the day’s range of $41.29 to $43.52. Ambassador J, the crypto analyst, has suggested that Litecoin will fall down on its charts soon.
1-Day Litecoin price analysis (26th June)
Litecoin price chart by Trading View
After 12:00 GMT on the 26th of June, Litecoin rose past the $43.40 mark. The cryptocurrency had turned bearish after 06:00 GMT when it fell towards the $41.60 mark. After 09:00 GMT, the price line was observed rising abruptly. At the time of writing, Litecoin was observed trading at $43.16 US Dollars.
The Relative Strength Index (RSI) moved to a high of 85.65 which shows that the cryptocurrency was overbought at the instance. At the time of writing, Litecoin’s RSI indicator was at 42.75.
The 20-Day Exponential Moving Average (20EMA) closed at $43.14, while the 50-Day Moving Average (50MA) was observed at 43.16 at the time of writing.
Litecoin price movement; what to expect next?
Ambassador J is a TradingView analyst who believes that the LTCUSD pair is expected to see a downward move next.
Litecoin price chart by Trading View
On the idea chart above, the analyst has drawn a falling wedge pattern (green) that indicates a breakout below the triangle trading pattern on the LTCUSD chart.
On the 4-hour chart, Litecoin appears to be testing the lower boundary of the triangular trading pattern near $42. If the cryptocurrency breaks below this pattern, the price is expected to fall towards the $38 to $39 range.
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.
