Litecoin News Today – The Price of Litecoin LTC Finally Rises Above $43 – June 27th, 2020

litecoin-price
  • LTC/USD has broken the $43 mark
  • The digital asset traded between $41.29 and $43.52
  • RSI places Litecoin in the overbought region

Litecoin news today – A look at the charts for LTC shows that the Litecoin price has moved over the $43 area as of June 26. The digital currency also traded in the day’s range of $41.29 and $43.52. Now one TradingView crypto analyst has suggested that the price of Litecoin will fall further downwards on the charts soon. On June 26, after 12:00 GMT, the price of Litecoin rose ahead of the $43.40 area. The virtual currency previously turned bearish at 06:00 GMT. At the time it fell to the $41.60 area. At 09:00 GMT, the Litecoin price started to rise abruptly. As of when this content was written, Litecoin was seen changing hands at $43.16.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$41.90

Litecoin News Today – RSI Places Litecoin in the Overbought Region

The price of Litecoin is currently outperforming the market after it bounced from a low position of $41.32 to move past $43.54. LTC’s next clear resistance area can be seen at $43.53 and the daily 12-day EMA. The Litecoin bulls appear to have gathered momentum. They are trying to change the coins’ daily downtrend. What’s more for the digital asset? The RSI (Relative Strength Index) for LTC/USD has moved into a high of 85.65 via the daily chart. This is proof that the digital currency enters the overbought area at some point during the days’ session during the last 24-hours. However, as of when this content was written, the RSI indicator for Litecoin was seen at level 42.75. Additionally, the 20-day EMA (Exponential Moving Average) reportedly closed at the $43.14 price position. Meanwhile, the 50-day MA (Moving Average) on the daily chart can be seen at the $43.16 price position as of when this content was written.

Litecoin News Today – What’s Next for the Price of Litecoin After Breaching $43?

The price of Litecoin is currently seating in a daily downtrend and trading below the 12-day EMA and the 26-day EMA. The two Exponential Moving Averages have crossed bearishly back on June 14. At the time the daily uptrend was lost. According to Ambassador J a TradingView analyst, the price of Litecoin will see more downtrend in the coming sessions. According to the daily chart, the analyst analyzed a falling wedge pattern. This pattern indicates that they will be a breakout below the triangle line on the LTC/USD daily chart. Meanwhile, the 4-hour chart for the pair shows that Litecoin is testing the lower area of the triangular pattern at $42. If the crypto breaks under this pattern, prices are expected to fall further to $38 or $39.

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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