Litecoin LTC/USD ends the trading week at 41.56 and continues to move as part of the correction. Moving averages indicate a bearish trend. Prices are testing the areas between the signal lines again. This indicates pressure from sellers of the digital asset and a potential continuation of the Litecoin rate decline in the current trading week. At the moment, we should expect an attempt to develop a minor bullish correction and a test of the resistance area near the 42.55 level. Where can we expect a rebound again and an attempt to start a fall in the value of Litecoin with a potential target below the level of 22.65.
Litecoin Forecast and Analysis July 20 — 24, 2020
An additional signal in favor of a decline in LTC/USD quotes in the current trading week July 20 — 24, 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 border of the «Triangle» pattern. Cancellation of the option of falling Litecoin digital asset will be a strong price increase and a breakdown of the 60.05 area. This will indicate a breakdown of the resistance area and a continued rise in the LTC/USD rate above the level of 95.05. Confirmation of a decline in cryptocurrency will be a breakdown of the support area and closing of quotations below 35.05.
Litecoin Forecast and Analysis July 20 — 24, 2020 implies an attempt to test the resistance area near the 42.55 level. Then, the continuation of the fall to the area below the level of 22.65. An additional signal in favor of the fall in Litecoin will be a test of the downward trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 60.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 95.05.
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