LTC/USD are traded at 213.10 and continue to move as part of the correction and the downward channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $15,021,648,366. Moving averages indicate a short-term bearish trend for Litecoin. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a rise in the value of a digital asset and a test of the resistance level near the area of 215.55. Where can we expect a rebound down again and the continuation of the fall in the Litecoin rate with a potential target below the level of 175.05.
Litecoin Forecast and Analysis December 1, 2021
An additional signal in favor of a fall in LTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the downtrend. Cancellation of the coin falling option will be a strong growth in the value of the asset and a breakdown of the 245.05 area. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above the level of 285.05. With the breakdown of the support area and closing of quotations below the level of 190.55, we should expect confirmation of the development of a bearish trend for Litecoin.
Litecoin Forecast and Analysis December 1, 2021 suggests an attempt to correct and test the resistance area near the level of 215.55. Where can we expect a rebound and continued growth in the LTC/USD price to the area below the level of 175.05. An additional signal in favor of the fall in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the decline option will be a sharp rise and a breakdown of the 245.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 285.05.
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