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. holds no liability towards any investments based on the information provided on this page.



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