LTC/USD are traded at 214.69 and continue to move within the fall and the downward channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $14,928,402,840. Moving averages indicate a short-term bearish trend for Litecoin. Prices went down from the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a rise in the value of a digital asset and a test of the resistance level near the area of 230.65. Where can we expect a rebound down again and the continuation of the fall in the Litecoin rate with a potential target below the level of 160.55.
Litecoin Forecast and Analysis November 23, 2021
An additional signal in favor of a fall in LTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the coin falling option will be a strong increase in the value of the asset and a breakdown of the 255.05 area. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above the level of 305.05. With the breakdown of the support area and closing of quotations below the level of 195.55, we should expect confirmation of the development of a bearish trend for Litecoin.
Litecoin Forecast and Analysis November 23, 2021 implies an attempt to correct and test the resistance area near the level of 230.65. Where can we expect a rebound and continued growth in the LTC/USD price to the area below the level of 160.55. An additional signal in favor of the fall in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the decline option will be a sharp rise and a breakdown of the area of 255.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 305.05.
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