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Litecoin News Today – LTC’s Recovery Rally Has Been Cut Short at $45 – June 15th, 2020

Litecoin News
  • Litecoin LTC’s recovery rally has been cut short at $45
  • Litecoin LTC is in consolidation between $42 and $45
  • LTC/USD upside rally is limited by the 50-day SMA

Litecoin news today – Litecoin price managed to contain its losses above the $42 area amid widespread drops in the crypto market. Recovery happened almost immediately. However, the bulls didn’t have the power to clear the range between the $45 and $45.50 levels. The LTC/USD pair has adjusted to $44.49. It is currently enjoying protection from an ascending pattern on the downside plus the support at $44. Marginally above its current price is the 50-day SMA via the 1-hour chart. Litecoin’s sideway trading will continue after the weekend based on the current position of RSI, at level 47. If it moves above 50, more buyers could join the market. Gains above the key resistance at $45-$45.50 would be enough to sustain a to $50.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoinLitecoin$42.70

Litecoin News Today – Litecoin’s Current Sideways Action is Supported by the MACD Pattern

The same sideways movement is supported by LTC’s MACD line. The consolidation traders must consider the minor bearish divergence on the MACD pattern. Therefore, you should pay attention to LTC holding above $42. Going lower, there are support areas at $40 and $35. The price of Litecoin fell by 2.42% at the start of the session on June 14. Litecoin ended the last seven days down by 5.68%. It began bearish at the start the day June 15, after sliding from its early morning high of $45.08 to a late low of $43.54. The coin fell to $44.48 and $43.89 both first and second major support areas. The digital asset found late support and broke back to $44. As of when this content was written, Litecoin price was down by 1.59% trading at $43.29.

Litecoin Price Prediction – Litecoin Needs to Move $44.20 to Support a Run at $44.87

The price of Litecoin fell to its first major support area at $43.33 at the start of the session. The coin now needs to move to $44.20 to support a run at its first major resistance of $44.87. LTC/USD will need support from the rest of the market to break from its first major support. In the absence of another extended rally, LTC’s first major resistance and Sunday’s high point of $45.08 could limit any chances of an upside. Failure to move to the $44.20 area could see the digital asset fall deeper. A fall to the morning low of $43.12 could bring the levels below $43 into play before the coin can trigger any recovery. In the absence of an extended sell-off, Litecoin should be clear of its second major support of $42.66.

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