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Litecoin price varies near $47.50: what’s next?

Litecoin price observed a ruffled trend on the 4th and 5th of June. The cryptocurrency traded near the $47.50 level through most of the day’s trade, while the trading pair was observed within a day’s range of $46.43 — $47.970

1-Day Litecoin price analysis (5th June)

Litecoin Price ChartLitecoin Price Chart by Trading View

The cryptocurrency stood near the $47.20 level at the start of the 4th of June, after which it saw ruffled ups and downs over the price chart for the rest of the trade.

The cryptocurrency saw a day’s low of $46.39 US Dollars. At the time of writing, the LTCUSD trading pair stood at $47.44 US Dollars.

The moving average technical indicators moved in a disheveled pattern. The 20-Day Exponential Moving Average (EMA) closed at $47.36, while the 50-Day Moving Average (MA) was observed concluding at 47.16.

The Relative Strength Index (RSI) fell to a low of $14.70 near noon when Litecoin observed a downward roll towards the $46.40 mark. At the time of writing, the RSI was observed at 53.79.

Litecoin: what’s next?

Kyer is a TradingView analyst who has suggested that the cryptocurrency should see a long trading pattern towards the $50 level. 

Litecoin Price Featured ChartLitecoin Price Chart by Trading View

At the time, the cryptocurrency trades near the $47.50 mark, and the first price target as described in the idea, is $48.58 while the second price target for LTCUSD lies at $50.67.

According to the crypto analyst, the psychological resistance lies at $50. However, this price trend for Litecoin is completely dependent on Bitcoin’s price moves. If BTC touches $9950, then this idea may come into play.

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.

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