On August 3, the Litecoin price line rose above the $ 59.50 level. It is expected that the cryptocurrency will test resistance above the $ 60 mark and go higher, since it is a popular altcoin
Litecoin price movement analysis
For the highest indicator of the day, the cost of LTC reached $ 60.12, while the cryptocurrency at the beginning of the day was at a daily low of $ 55.92. USA. At the time of writing, LTC was being traded at $ 58.48.
The Trading View analyst believes that Litecoin will move to the $ 50 mark.
In support of his idea, the analyst highlighted the stochastic relative strength index (RSI), which seems to cross 80. This indicates a short-term movement in the LTC price.
But the analyst of Trading View Stell believes that the LTC/USD pair will re-test the resistance, which is above the level of 60 dollars. The cryptocurrency rose above the upper resistance of the channel after August 1 and reached a maximum around the $ 65 mark.
The cryptocurrency turned bearish on August 2, and continued moving towards the $ 58 level. The analyst showed that the trading pair broke out of this pennant on August 3, and it is expected that it will move to the resistance of $ 60.72.
