Litecoin News Today: Litecoin LTC Price is Closing in on the $46.50 Level – June 1st, 2020

  • Litecoin LTC price is approaching $46.50
  • Maybe the next place for LTC will be $50
  • There will be a big downside action if LTC falls below the 300-day MA

Litecoin news today – Litecoin price reportedly rose above the $47.50 position before it fell to the $46.50 area on May 31. The virtual currency traded in a day’s range (between $45.87 and $47.77). The price of LTC also saw an increase of 4% in its price at the start of trade on May 30. The crypto stood below the $44.50 price area, while it also rose ahead of the $47.50 mark before the May 31 trade session. Today the price of LTC has maintained the minor bullish action it gained in recent days a sentiment that is shared by the general digital asset market. When this content was written, the price LTC was traded at $46.55. Let us seem more about LTC’s performance for the 24-hours.

Litecoin LTC News Today – Will Litecoin Price Rise After a Bullish Consolidation?

According to AndyCarter a TradingView analyst, the LTC/USD pair will see a further uptrend. The analyst issued this prediction after the pair ended its month-long bullish consolidation. In terms of price action, this has been a tough year for digital assets. AndyCarter also highlighted the future three price targets for the LTC/USD pair which include $50, $60, and $66. Hence, if the prediction plays, it will be a promising move for the cryptocurrency. However, the analyst’s idea hasn’t played out yet. The question now is, since LTC breached $46.50, is Litecoin price heading to $50 next. Another digital asset analyst called RafaelZioni believes that the price of Litecoin will fall to $42 before it can rise. Currently, the crypto is within the $46 price level. The analyst also highlighted the wedge pattern for LTC. If Litecoin falls to the $42 area, it may rise above $50 and break the wedge pattern indicated in the daily chart.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$42.04

Litecoin Price Prediction 2020 – What’s Next for the Price of Litecoin?

Yet another analyst with TradingView, VincePrince suggested that the Litecoin price will rise after going as low as $44. The analyst remarked that LTC/USD broke the descending channel shown in the chart. He also added that this is also a good sign for bullish continuation for LTC. According to VincePrince, the short-term target of $49 for Litecoin, and the mid-term position near $50 will both be fully activated. This will occur, once the upper area of the channel has been confirmed. If LTCUSD falls below its 300-Day MA, this may trigger a bigger downside and add a bearish shape to the coins’ current structure.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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