- The price of Litecoin LTC rose to $45.20 after a death cross
- At press time, the LTC/USD trading pair was changing hands at $44.90
- RSI closed the trade session at level 41.89 on its scale
Litecoin news today – The year 2020 has so far been a year to remember for digital currencies. The impact of the Coronavirus pandemic on the global financial markets has been more serious than ever. Digital assets like LTC are still a long way from recovering the losses they have incurred since the March 12 bear market. At the start of yesterday’s session (May 29), the price of Litecoin managed to cross the $45.20 position. On to this day, the cryptocurrency continued to trade between a day’s range of $44.18 and $45.25. The coin reportedly has a total market cap of $2,893,787,000 placing it at the number 7 position among the largest cryptocurrencies. Let us see more about how Litecoin performed over the last 24-hours.
Litecoin LTC Price Prediction – At Press Time, the LTC/USD Trading Pair Was Changing Hands at $44.90
Yesterday (on May 29), Litecoin price appeared to be in bullish control as it moved past the $45.20 area at the beginning of the trade session. The digital currency also managed to reach a day’s high of $45.25 before correcting back to the $44.60 area as the day went further. As of when this content was published, the LTC/USD trading pair was seen changing hands at the $44.90 position. Meanwhile, the RSI (Relative Strength Index) for LTC/USD rose to level 80.88 when the cryptocurrency appeared bullish. The move shows that the coin was in an overbought area at the time. However, the RSI for LTC/USD closed the trade session for the day at level 41.89 on its scale.
Litecoin (LTC) Price Today – LTC / USD
Litecoin News Today – Litecoin Price Enters Death Cross Pattern
One analyst with TradingView called MaxKoke (alias) is bullish on the digital asset. The analyst believes that the bulls will still return for LTC. According to the analysis given by the cryptocurrency commentator, this is because the 1-hour chart for LTC/USD shows the death cross pattern forming a day earlier. The same chart also shows two cross patterns. The crypto analyst highlighted the two separate cross patterns. The first of these patterns were seen on May 22, while the second cross pattern occurred on May 28. The initial pattern also drove the price of LTC below the $42.50 area. The recent cross pattern on the other hand was expected to take the price of LTC to a bullish area. On May 28, the crypto appeared bullish before moving past the $45 area. This picture is proof that the idea suggested by the analyst might come into play. We can only wait to see.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.