Litecoin price rises to $58, what’s next?
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The Litecoin price stood at the $57 mark at the beginning of the 8th of August. The cryptocurrency gradually made its way above the $58 level as the day proceeded towards its end.
1-Day Litecoin price analysis
Litecoin price chart by Trading View
LTC price fell to a day’s low of $55.81 during the first quarter of the 8th of August. At the time of writing, the LTCUSD pair traded at $57.86 US Dollars.
What to expect from LTC price?
The Trading View analyst Mello believes that the LTCUSD pair will see a rise towards the $80 mark.
Litecoin price chart by Trading View
The crypto analyst drew a descending trendline over the LTCUSD pair’s trajectory. The analyst explained that it is imperative for LTC price to hold above the trendline support that it recently broke above. As per the idea, LTC price is expected to rise above the $80 mark, after which it may rise above the Ichimoku cloud and see new highs over a long-term trade of 1-2 years. The analyst expects the cryptocurrency to rise towards the $135 mark.
What’s next for Litecoin’s price?
The Trading View analyst Gene Tech is of the opinion that LTC price will see a fall after retesting the resistance near the $60 mark.
Litecoin price chart by Trading View
Previously, the LTC price dumped on the 2nd of August after reaching the $65 mark. The cryptocurrency’s price retested above the $60 range, after which it fell to the $58 mark on the 7th of August. Gene Tech, the crypto analyst, is of the opinion that LTC price will retest the resistance that lies near the $60 mark, after which it will fall towards the $45 level.
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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