On Apr 3, 2019, the Litecoin price reached a high of ₿0.0186. A gradual decrease followed shortly after. After reaching levels close to ₿0.018 on June 12, a rapid decrease ensued.
Litecoin Price: Trends and Highlights for June 2
- LTC/BTC has found support above the 200-week moving average.
- It is following a descending support line.
- The short-term moving averages have made bullish crosses.
- There is short-term bullish divergence developing in the RSI.
Long-Term Litecoin Price Action
A look at the weekly time-frame shows that the Litecoin price has found support above ₿0.1 before beginning an upward move. Last week’s candle had a very long lower wick, indicating that there was buying pressure around that area.LTC Price: Possible Support
A look at the six-hour time-frame shows that the LTC price has been trading alongside a descending support line since Mar 10. At the time of writing, it had touched the support line four times. After doing so, it began an upward move.Technical Indicators
The price of Litecoin is analyzed at six-hour intervals alongside the 10-, 20-, 100- and 200-period moving averages (MA) in the first graph and the RSI in the second
A look at the moving averages shows two interesting developments:
First, both short- and long-term moving averages have made bullish crosses.
The 100- and 200-period MAs did so on June 11, while the 10- and 20-period ones on June 30.
Secondly, there is a very significant resistance area near ₿0.013.
This was found by previous support at the beginning of June and the 100- and 200-period MAs.


Summary
The price of Litecoin has been decreasing since April 2019. It is currently following a descending support line and is trading inside a significant support area. An analysis of technical indicators supports the beginning of an upward move towards the resistance area outlined above. What do you think about the price of Litecoin? Let s know your thoughts in the comments below!Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. Images are courtesy of Shutterstock, TradingView.
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In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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