Litecoin LTC/USD completes the trading week at 49.81 and continues to move within the correction and ascending channel. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines again. This indicates pressure from buyers of the digital asset and a potential continuation of the rise in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a minor correction and a test of the support area near the level of 43.35. Where can we expect a rebound again and an attempt to start the growth in the value of Litecoin with a potential target above the level of 110.55.
Litecoin Forecast and Analysis September 7 — 11, 2020
An additional signal in favor of the growth of LTC/USD quotes in the current trading week September 7 — 11, 2020 will be a test of the rising trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option of raising the Litecoin digital asset will be a fall in prices and a breakdown of the 30.55 area. This will indicate a breakdown of the support area and a continued fall in the LTC/USD rate below 20.55. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 75.05, which will indicate a breakdown of the upper border of the “Triangle” model.
Litecoin Forecast and Analysis September 7 — 11, 2020 implies an attempt to test the support area near the 43.35 level. Then, continued growth to the area above the level of 110.55. An additional signal in favor of Litecoin’s rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 30.55 area. This will indicate a continued decline in cryptocurrency with a target below 20.55.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link