The Litecoin price line rose across $44 on the 18th of June. The cryptocurrency traded within a day’s range between $42.80 and $43.68. Pidenuze is an analyst who believes that LTC will see an uptrend.
Per Coinmarketcap.com, Litecoin has a market rank of 7, with a market capitalization of $2,792,568,088 US Dollars.
1-Day Litecoin price analysis (19th June)
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Litecoin Price Chart by Trading View
The cryptocurrency stood near the $44 level at the beginning of the 18th of June, after which it saw a fall towards the $42.80 mark. The price approached the day’s low of $42.8 at 03:50 GMT. Litecoin traded at $43.53 US Dollars at the time of writing.
The 20-Day Exponential Moving Average (20EMA) closed at $43.46, while the 20-Day Moving Average (20MA) was observed at $43.44. LTCUSD pair showed a downward move for the day’s trade.
The Relative Strength Index (RSI) rose to a high of 76.65 near 09:05 GMT. The coin appeared overbought at this time. At the time of writing, the RSI indicator was observed 49.81.
Litecoin price, what’s next?
Pidenuze is a TradingView analyst who believes that LTC price will see an uptrend of 10% in the near future.
As per the analyst, the cryptocurrency will see a brief rollback towards the $42.5 level before rising through to the $47 mark. Currently, this trading idea seems active. The target price for this idea lies at $47.5.
However, Litecoin’s pattern will depend on the king of cryptocurrency Bitcoin BTC’s trend. The trading volumes for LTCUSD still appear low for a long upward bullish move.
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.