litecoin-price-bounces-to-$42,-what’s-next?

Litecoin price bounces to $42, what’s next?

On the 30th of June, Litecoin price went on to bounce towards the $42.20 level before continuing on its downtrend. Trading view analyst, Atlas Trades, believes that the cryptocurrency might fall towards the $39 mark.

1-Day Litecoin price analysis (30th June)

Litecoin price chart 1 - 30 June

Litecoin price chart by Trading View

Litecoin was observed trading at $41.02 US Dollars at the time of writing.

Litecoin price; what to expect? 

Atlas Trades, the TradingView analyst believes that the LTC price line may see a downtrend towards the $39 level.

Litecoin price chart 2 - 30 June

Litecoin price chart by Trading View

The LTCUSD pair has been trading under a descending trendline that began at the $48 mark on the 4th of June. The downtrend caused the cryptocurrency to move below the $42 resistance level on the 27th of June.

Per Atlas Trade, the analyst believes that the cryptocurrency might fall towards the $39 mark. The target price was set at $39.150 for this idea. The target price was set at the lower part of the $39 to $50 range that has been the LTC trading pattern.

Litecoin price movement; bounce towards $42

FXCM is another TradingView analyst who has drawn a similar downtrend movement for the LTCUSD pair on the 4-hour chart.

Litecoin price chart 3 - 30 June

Litecoin Price Chart by Trading View

LTC price line met the $40 mark on the 29th of June. The analyst drew a buy entry above the $39 level and suggested that LTC price might move towards the $42 mark, with $41.97 as the target price.

The stop-loss order was placed at $39.39. The idea played on the 30th of June as the cryptocurrency touched the profit level as mentioned by the analyst in their idea.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.

Source: https://www.cryptopolitan.com/litecoin-price-bounces-to-42/

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