Categories: Litecoin News

Litecoin price nears $43 chances of price dump ahead

Litecoin price continues to struggle between the $42 to $43 price range. Crypto analysts on TradingView are of the opinion that BTC might see a price dump up next, and this will cause the altcoin LTC market to fall as well. If the price dump takes place, LTC is expected to fall towards the $28 level.

1-Day Litecoin price analysis (20th June)

Litecoin Price Chart by Trading View

At the time of writing the LTCUSD pair was observed trading at $42.88 US Dollars.

Litecoin price movement; dump up next?

Ambassador J is a TradingView analyst who is of the opinion that the technical indicators show a downfall of the LTC price.

Litecoin Price Chart by Trading View

The analyst explained that the price rejection at the $50 resistance was quite strong, and the Exponential Moving Average (EMA), the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) look bearish towards weeks and months.

The lower Bolinger Band (BB) appears to be in the $20 range and this indicates that the price will move downward next. Though some strong supports lie in the $40 and $30 ranges, they will easily be broken if a price dump occurs.

Litecoin price; what’s next?

All My Pips is another TradingView analyst, and of the opinion that an LTC dump is expected up next. The Bitcoin price dump will send LTC to major support near $25 to $28 range.

Litecoin Price Chart by Trading View

The analyst further explained that once the price dump occurs, it will be followed by a long towards the $83 level.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. holds no liability towards any investments based on the information provided on this page.

This post was last modified on August 2, 2020 5:57 am

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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