Litecoin price holds $46.50 support; moves to $48
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On the 4th of June, the Litecoin price line climbed towards the $48 level after successfully holding the $46.50 support. The cryptocurrency saw a brief pullback towards the $46.50 mark after 09:00 GMT, after which it continued the uptrend across $47. The LTCUSD pair traded within a day’s range of $46.38 — $48.13.
1-Day Litecoin price analysis (4th June)
Litecoin Price Chart by Trading View
LTC price held near the $46.00 level at the beginning of the 24hour trade, after which it moved above the $46.50 support. The cryptocurrency gradually moved across the $48 mark as it approached the 4th of June. After observing a short pullback towards the $46.50 support at 09:00 GMT, the cryptocurrency recovered above the $47.00 mark. At the time of writing, Litecoin traded at $47.62 US Dollars.
Litecoin: move towards $48?
Daniel_Ramsay is a TradingView analyst who believed that LTC price should see an uptrend towards the $48.00 level after it fell towards $46 on the charts. The analyst suggested the traders buy as the risk-reward was good at the time.
Litecoin Price Chart by Trading View
On the 4th of June, Ramsay’s idea came into play and completed when the cryptocurrency moved across the $48 mark.
Litecoin: whats next?
TradingAlchemist is another TradingView analyst who believed that the cryptocurrency would continue moving towards the $49 mark, as the nearest support at $46.5 held well during the trade.
Litecoin Price Chart by Trading View
This idea seems to be in play as LTC rose towards the $48 level on the 4th of June. LTC continues to hold the $46.5 support, which means that the LTCUSD pair will remain bullish as per the 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.
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