Litecoin LTC/USD ends the trading week at 85.43 and continues to move as part of the correction. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to continue the correction and test the support area near the level of 75.00. Where again we should expect a rebound and an attempt to continue growth in Litecoin with a potential target above the level of 175.00.
Litecoin Forecast and Analysis August 12 — 16, 2019
An additional signal in favor of the growth of LTC/USD quotes in the current trading week on August 12 — 16, 2019 will be a test of the rising support line on the relative strength index (RSI). The second signal will also be a rebound from the lower boundary of the ascending channel. Cancellation of the Litecoin growth option will be a fall and a breakdown of the area of 65.00. This will indicate a breakdown of the lower border of the channel and a continued decline in LTC/USD. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 115.00.
Litecoin Forecast and Analysis August 12 — 16, 2019 suggests an attempt to test the resistance area near the level of 75.00. Then, continued growth to the area above the level of 175.00. An additional signal in favor of the fall of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the area of 65.00. This will indicate a continued rise in cryptocurrency with a target above the level of 45.05.