On the 22nd of June, the Litecoin price turned bullish and moved towards the $44 mark. LTC showed a bullish divergence and traded within a day’s range of $42.8 to $44.0.
1-Day Litecoin price analysis (22nd June)
Litecoin Price Chart by Trading View
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Litecoin price falls to $43: parallel descending channel next?
The Relative Strength Index (RSI) reached a high of 84.60 on the daily charts. At the time, the trading pair was bullish and the technical indicator shows that the cryptocurrency was overbought at the time.
At the time of writing, the LTCUSD pair traded at $44.36 US Dollars.
Litecoin price movement; triangle trading pattern?
FXCM is another analyst on TradingView, who suggested that the LTCUSD pair will see a downtrend up next.
Litecoin Price Chart by Trading View
The analyst drew a triangle pattern on the LTCUSD, while they believed that the pair will see a downtrend towards the lower boundary of the trading pattern. At the time of writing, the cryptocurrency touched the $43.80 level, which is where the upper boundary of the triangle lies.
Litecoin price; what’s next?
Bitgun Bull is a TradingView analyst who drew a descending channel on the LTCUSD pair’s charts.
Litecoin Price Chart by Trading View
The analyst indicated that the cryptocurrency has broken out of the descending channel on the 22nd of June. This breakout may indicate a rise in LTC price. The analyst also drew an ascending channel for the Relative Strength Index (RSI) on the 4-hour charts. The LTCUSD pair indicates a bullish divergence.
The analyst also pointed out how the trading pair is showing lower lows, and the RSI indicator is showing higher lows.
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.