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The Litecoin price line dropped towards the $44.10 level after rising above the $45.80 level on the 9th of July. Excavo, the TradingView analyst, believes that the cryptocurrency will rise towards the $63 level if it observes a breakout from the falling wedge pattern.
1-Day Litecoin price analysis (9th July)
Litecoin Price Chart by Trading View
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Litecoin price rises above $43, what’s next?
-At the beginning of the 9th of July, the cryptocurrency traded near the $45.40 mark, while it saw a brief drop towards the $44.60 level by 03:00 GMT, after which the LTC price turned bullish and rose across the $45.80 mark. As the day moved towards its end, the cryptocurrency fell to the $44.10 level. At the time of writing, LTC traded at $44.14 US Dollars.
What to expect from Litecoin’s price?
Excavo is a TradingView analyst who highlighted a falling wedge pattern for the LTCUSD pair on the 2D chart.
Litecoin Price Chart by Trading View
The analyst discussed that the cryptocurrency has moved towards the resistance level of the falling wedge, while the 200-Day Moving Average can be observed here as well. If the trading pair breaks above the falling wedge, the cryptocurrency is expected to turn bullish and move towards the $63 mark as per this trade.
LTCUSD in the ascending triangle pattern
Atlas Trades is another TradingView analyst who analyzed the LTCUSD pair in an ascending triangle pattern.
Litecoin Price Chart by Trading View
The crypto analyst was of the opinion that the trading pair would break above the resistance level at the $46 mark. An ascending trendline had supported the LTC price from the 5th of July. As per the 1H chart, on the 9th of July, the cryptocurrency did not break above the $46 resistance of the ascending triangle pattern; instead, LTC price moved below the rising support line.
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.
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