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Litecoin price rose above $43, what’s next?

Litecoin price rose above what s next

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 1 - 26 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 2 - 26 June

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.

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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