Litecoin News Today – LTC/USD is Within Touching Distance of $50 at $47.50 – June 6th, 2020 

  • Litecoin LTC price is within touching distance of $50 at $47.50
  • Ltecoin LTC was seen moving within $46.43 and $47.97 in the last 24-hours
  • The moving averages have taken a disheveled pattern

Litecoin news today – The price of Litecoin reportedly observed a ruffled trend between June 4 and 5. The digital currency also traded near the $47.50 position through most of the trading session within that time frame. The daily chart of the LTC/USD trading pair was also seen in a day’s range of $46.43 and $47.970. There hasn’t been anything new for Litecoin in other areas in recent times besides price drops and rises. The coin joined others during the recovery Bitcoin posted although this surge didn’t last as Bitcoin corrected back below the $10k mark shortly after. Despite this, the next move for the price of Litecoin is still not certain. Let’s see more about how Litecoin performed on the last day.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$45.47

Litecoin News Today – Litecoin LTC Was Changing Hands at $47.44 at Press Time

The price of the digital asset stood near the $47.20 position at the beginning of trade on June 4. After this price action, the coin saw ruffled ups and downs according to the hourly chart for the rest of the trade session. The digital currency also saw a day’s low point of $46.39. As of when this content was written, the LTCUSD trading pair was changing hands at $47.44. The moving averages for LTC/USD have been in a disheveled pattern. Litecoin’s 20-day EMA (Exponential Moving Average) ended to end the day at 47.36. Meanwhile, LTC’s 50-day MA was seen closing at the $47.16 area. The RSI (Relative Strength Index) for LTC/USD via the 4-hour chart fell to level 14 when Litecoin observed a downward action to the $46.40 position. But currently, the RSI for Litecoin was seen at the 53.79 level.

Litecoin Price Prediction – What’s the Next Action for LTC/USD?

According to one analyst at TradingView called Kyer, the digital currency will likely see a long trading pattern that should take it to the $50 mark. At the time of the analyst’s prediction, the virtual currency was trading near the $47.50 mark. Hence, we can agree that the first price position will fall at $48.58. Meanwhile, the second price target for the LTC/USD pair will be at $50.67. According to the digital asset commentator, the psychological resistance for LTC lies at the $50 mark. However, for this price pattern to be a reality for Litecoin, Bitcoin must play a role. It is dependent on Bitcoin’s price action. If BTC reaches the $9950 mark, then this prediction may become a reality.

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.

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