Litecoin LTC/USD ends the trading week at 71.18 and continues to move in correction. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines downwards, this indicates pressure from sellers of the digital asset and a potential continuation of the fall in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a bearish price correction and a test of the resistance area near the level of 66.65. From where we can again expect a rebound upward and an attempt to continue to grow in the value of Litecoin with a potential target above the level of 96.75.
Litecoin Forecast and Analysis July 22 — 26, 2024
An additional signal in favor of an increase in LTC/USD quotes in the current trading week of July 22 — 26, 2024 will be a test of the support line on the relative strength index. The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the fall option for the digital asset Litecoin will be a fall in price and a breakdown of the 48.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 40.05. Confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 80.05, which will indicate a breakdown of the upper boundary of the downward channel.
Litecoin Forecast and Analysis July 22 — 26, 2024 assumes an attempt to test the support area near the 66.65 level. Then, continued growth to the area above the level of 96.75. An additional signal in favor of the rise of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall in price and a breakdown of the 48.05 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 40.05.
