Litecoin LTC/USD ends the trading week at 96.38 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 80.05. Where again we should expect a rebound and an attempt to continue growth in Litecoin with a potential target above the level of 170.00.
Litecoin Forecast and Analysis August 5 — 9, 2019
An additional signal in favor of the growth of LTC/USD quotes in the current trading week on August 5 — 9, 2019 will be the 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 65.05 area. 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 110.00.
Litecoin Forecast and Analysis August 5 — 9, 2019 suggests an attempt to test the resistance area near the level of 80.05. Then, continued growth to the area above the level of 170.00. 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 65.05. This will indicate a continued rise in cryptocurrency with a target above the level of 45.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
