As of when this content was written, the price of Litecoin was still bearish. For the day’s highest position, the price of LTC price managed to reach the $43.43 position, while the coins’ lowest price point so far on the day was recorded at the $41.14 region.
The TradingView analyst Baki Shirzadi believes that the LTC/USD trading pair will drop to the $39 support position. Per the conclusion issues by the crypto analyst, the buy position for this trade seats near the $39.026 position.
What this means for the digital asset is that if its price falls to the next support area, it will become bullish and eventually move past the $50 mark.
This can be seen in the daily chart posted by the TradingView analyst. For this trading idea, the analyst has suggested that traders buy LTC in the $37 to $39 zone. Soon the bearish price action will change course and begin to move higher.
- Litecoin’s short-term outlook is bearish. The digital asset has a high selling pressure
- The price of Litecoin will rise to $50 soon
Litecoin news today – The LTC/USD recently traded at the $41.56 area and continued to move in an ascending channel. On July 16, the Litecoin price managed to fall to the $41.50 mark. The crypto has been trading between the $41.50 and $42.50 positions in the last 24-hours.
The crypto analysts on TradingView are of the view that LTC/USD may soon see an uptrend in the coming sessions. At the beginning of July 16, the price of LTC traded between $43.00 and $43.50, before turning bearish following from the first quarter of the session today. Before 07:30 GMT, the Litecoin price had dropped beneath the $41.50 area.
Litecoin Price Prediction – Litecoin’s Price Will Rise to $50
Another TradingView analyst known as Henrudena has a similar opinion. According to Henrudena, the LTC/USD trading pair will inevitably see price rise to the $50 area. According to the 1-day chart for LTC/USD, the analyst prepared a wave correction for the LTC. The analyst also believes that the crypto will move past the $60 mark. This seems to be the only way for the trading pair to complete this wave correction. At press time the price of Litecoin was trading at $41.97.
The digital asset carried the ongoing bearish action to Today July 17. The digital asset is down by 2.09% at press time. The coin also had a total market cap of $$2,730,233,193 and 24-hour trading volume of $1,601,328,056. The next few Litecoin LTC trading sessions will help traders determine the best action.
