Litecoin News Today – LTC/USD May Close Below the $40 Area – July 1st, 2020

  • LTC/USD set to close below the $40 position
  • The price of Litecoin is currently in a strong downtrend
  • The digital asset must break the 12-day EMA to force a recovery

Litecoin news today – The LTC/USD trading pair is currently in a strong downtrend on the daily chart. The coins’ price is already seating at the $40 and is at risk of going further downward. The Litecoin price must climb above the 12-day EMA to stand a chance to recover. LTC/USD is trading at $41 and below the 12-day and the 26-day EMAs. The LTC/USD trading pair has been weaker than the rest of the top cryptos in the market over the past 30-days. The RSI for LTC/USD is currently approaching the oversold position. Even though the 4-hour chart is currently in an uptrend, Litecoin’s price is still under the 12-day EMA after facing resistance at the 26-day EMA at $41.8.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$59.98

Litecoin News Today – The LTC Bulls Have Lost Momentum on the Hourly Chart

The hourly chart shows that bulls have lost momentum. The EMAs will soon regain control after failing to move above $41.4. Litecoin’s next resistance is at $41.54 followed by the $42 psychological position and the $42.23 high. Litecoin’s price slid by 1.70% the day earlier on June 30. The coin reversed a 1.28% gain from the previous day on June 29. The digital asset ended last month down by 9.66%. Litecoin gained up to 5.03% during the second quarter of June. Litecoin reached an early morning high of $42.06 before correcting. The coin fell short of its initial major resistance of $42.55 to an afternoon intraday low of $40.73. LTC/USD found support at $40.88, Litecoin recovered to $41.5 before easing back once more.

Litecoin Price Prediction – Litecoin’s Price Was Down By 0.29% at Press Time

At press time, Litecoin’s price was down by 0.29%. The coin is now changing hands at $41.05. Litecoin had a bearish start to the day which took it down to an early morning low of $40.96. Litecoin’s price must move above the $41.35 support to activate its first major resistance at $41.91. The coin will need support from the rest of the market to break the $41.50 level. In the absence of another rally, the first major resistance of $42.06 would cap any upward action. Failure to break the $41.35 pivot could cause Litecoin’s price to struggle on the day. If the digital asset drops under the levels below $41, it would bring Litecoin’s first major support of $40.58 into play. In the absence of another crypto sell-off, the price of Litecoin should avoid the levels below $40. The second support of $40 should halt any downward movement. The next few trading sessions will determine what will happen to the Litecoin LTC token.

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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