Litecoin LTC/USD ends the trading week at 43.77 and continues to move as part of the correction. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines. This indicates pressure from the sellers of the digital asset and the potential continuation of the fall in the rate of Litecoin in the current trading week. At the moment, we should expect an attempt to develop a slight bullish correction and a test of the resistance area near the level of 45.05. Where again we should expect a rebound and an attempt to start a fall in the value of Litecoin with a potential target below the level of 22.55.
Litecoin Forecast and Analysis July 13 — 17, 2020
An additional signal in favor of lowering LTC/USD quotes in the current trading week July 13 — 17, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the option of falling Litecoin digital asset will be a strong price increase and a breakdown of the 60.55 area. This will indicate a breakdown of the resistance area and the continuation of the rise in the LTC/USD rate above the level of 105.05. A confirmation of the decline in cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 35.05.
Litecoin Forecast and Analysis July 13 — 17, 2020 suggests an attempt to test the resistance area near the level of 45.05. Then, the continuation of the fall to the area below the level of 22.55. An additional signal in favor of the fall of Litecoin will be a test of a downward trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 60.55 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 105.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link