Litecoin LTC/USD ends the trading week at 119.85 and continues to move as part of the correction and left the bullish channel. Moving averages indicate a sideways trend. Prices broke through the area between the signal lines down. This indicates pressure from sellers of the digital asset and a potential continuation of the decline in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a price rise and a test of the resistance area near the level of 150.55. Where can we expect a rebound again and an attempt to fall in the value of Litecoin with a potential target below the level of 45.05.
Litecoin Forecast and Analysis July 26 — August 1, 2021
An additional signal in favor of a fall in LTC/USD quotes in the current trading week July 26 — August 1, 2021 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the resistance area. Cancellation of the option for the fall of the Litecoin digital asset will be a strong rise in price and a breakdown of the 195.05 area. This will indicate a breakdown of resistance and continued growth in the LTC/USD rate above the level of 295.05. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 95.05.
Litecoin Forecast and Analysis July 26 — August 1, 2021 implies an attempt to test the resistance area near the level of 150.55. Then, the continuation of the fall to the area below the level of 45.05. An additional signal in favor of a decline in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and a breakdown of the 195.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 295.05.
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