Litecoin LTC/USD ends the current trading week at 84.20, continuing to move within the growth and bullish channel. Moving averages confirm the presence of a bearish trend, which indicates dominant pressure from coin sellers. A breakout of the area between the signal lines by the price upwards increases the likely continuation of the growth of the Litecoin rate next trading week. In the near future, we should expect an attempt to develop a bearish correction and test the support area near the 74.05 mark. From there, an upward rebound is possible with continued growth in the cryptocurrency price and a potential target above the 112.65 level.
Litecoin Forecast and Analysis November 18 — 22, 2024
Additional signals in favor of an increase in LTC/USD quotes in the next trading week of November 18 — 22, 2024 will be a test of the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish reversal channel. The key scenario for the cancellation of growth will be a price drop and a breakout of support at the 64.05 level, which will indicate a breakout of the key support zone and an intensification of the downward trend. In this case, we can expect a further decline in the LTC/USD rate down to the 45.05 mark. A breakout of the resistance area and closing of quotes above the 95.05 mark will be confirmation of the growth of the cryptocurrency.
Litecoin Forecast and Analysis November 18 — 22, 2024 suggests the possibility of testing the key support area in the 74.05 region, with a probable rebound and subsequent growth to 112.65. A rebound from the trend line on the RSI indicator will also serve as an additional signal in favor of growth. If the price breaks through the 64.05 mark, this will cancel the growth scenario and indicate a further decline with a target below the 45.05 level.
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