Litecoin LTC/USD ends the trading week at 58.54 and continues to move in a strong fall and a downward channel. 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 bullish price correction and a test of the resistance area near the level of 66.05. Where can we again expect a downward rebound and an attempt to continue the fall in the value of Litecoin with a potential target below the level of 38.05.
Litecoin Forecast and Analysis July 8 — 12, 2024
An additional signal in favor of a decrease in LTC/USD quotes in the current trading week of July 8 — 12, 2024 will be a test of the resistance line on the relative strength index. The second signal will be a rebound from the upper boundary of the bullish channel. Cancellation of the fall option for the digital asset Litecoin will be a strong rise in price and a breakdown of the 78.05 area. This will indicate a breakdown of resistance and continued growth of the LTC/USD rate above the level of 95.65. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 48.05.
Litecoin Forecast and Analysis July 8 — 12, 2024 suggests an attempt to test the resistance area near the 66.05 level. Then, continuation of the fall to the area below the level of 38.05. 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 fall option will be a strong price rise and a breakdown of the 78.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 95.65.
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