Litecoin LTC/USD ends the trading week at 72.66 and continues to move as part of strong growth. Moving averages indicate a bearish trend, which remains strong. However, prices have already broken through the area between the signal lines up. This indicates pressure from buyers of the digital asset. At the moment, we should expect an attempt to develop correction and test the support area near the level of 55.05. Where again we should expect a rebound and an attempt to start Litecoin growth with a potential target above 110.05.
Litecoin Forecast and Analysis February 10 — 14, 2020
An additional signal in favor of the growth of LTC/USD quotes in the current trading week February 10 — 14, 2020 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the support area. Cancellation of the Litecoin growth option will be a fall and a breakdown of the 40.05 area. This will indicate a breakdown of the support area and a continuation of the fall in the LTC/USD rate and a fall below the level of 25.05. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 80.55.
Litecoin Forecast and Analysis February 10 — 14, 2020 therefore, implies an attempt to test the support area near the level of 55.05. Then, continued growth to the area above the level of 110.05. An additional signal in favor of Litecoin growth will be an uptrend test on the relative strength index (RSI). Cancellation of the rise option will be a fall and a breakdown of the area of 40.05. This will indicate a continued fall in cryptocurrency with a target below the level of 25.05.
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