$ 1,149.99 2.63%
$ 35.74 4.70%
$ 0.067320 3.49%
$ 5.09 4.44%
$ 20,357.00 1.78%
$ 228.96 2.04%

Litecoin price varies near $47.50: what’s next?

Litecoin price varies near what s next

Litecoin price observed a ruffled trend on the 4th and 5th of June. The cryptocurrency traded near the $47.50 level through most of the day’s trade, while the trading pair was observed within a day’s range of $46.43 — $47.970

1-Day Litecoin price analysis (5th June)

Litecoin Price ChartLitecoin Price Chart by Trading View

The cryptocurrency stood near the $47.20 level at the start of the 4th of June, after which it saw ruffled ups and downs over the price chart for the rest of the trade.

The cryptocurrency saw a day’s low of $46.39 US Dollars. At the time of writing, the LTCUSD trading pair stood at $47.44 US Dollars.

The moving average technical indicators moved in a disheveled pattern. The 20-Day Exponential Moving Average (EMA) closed at $47.36, while the 50-Day Moving Average (MA) was observed concluding at 47.16.

The Relative Strength Index (RSI) fell to a low of $14.70 near noon when Litecoin observed a downward roll towards the $46.40 mark. At the time of writing, the RSI was observed at 53.79.

Litecoin: what’s next?

Kyer is a TradingView analyst who has suggested that the cryptocurrency should see a long trading pattern towards the $50 level. 

Litecoin Price Featured Chart

Litecoin Price Chart by Trading View

At the time, the cryptocurrency trades near the $47.50 mark, and the first price target as described in the idea, is $48.58 while the second price target for LTCUSD lies at $50.67.

According to the crypto analyst, the psychological resistance lies at $50. However, this price trend for Litecoin is completely dependent on Bitcoin’s price moves. If BTC touches $9950, then this idea may come into play.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan 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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