LTC/USD are trading at 41.59 and continue to move as part of the correction and the upward channel. The capitalization of Litecoin cryptocurrency at the time of the publication of the forecast is $2 744 126 370. Moving averages indicate the presence of a short-term bearish trend for Litecoin. Prices are testing the area between the signal lines, which indicates pressure from sellers and the potential continuation of the fall already from current levels. At the moment, we should expect an attempt to increase the value of the digital asset and test the resistance level near the area of 45.05. Where again we should expect a rebound and continued decline in the rate of Litecoin with a potential target below the level of 21.65.
Litecoin Forecast and LTC/USD Analysis April 17, 2020
In favor of falling LTC/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the ascending channel. Cancellation of the fall option will be a strong growth and a breakdown of the area of 54.05. This will indicate a breakdown of the resistance area and an acceleration in the growth of the cryptocurrency rate with a potential target above 60.55. With the breakdown of the support area and closing of quotes below 34.45, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis April 17, 2020 implies an attempt to correct and test the resistance area near the level of 45.05. Where can we expect a rebound and the continuation of the fall of LTC/USD to the area below the level of 21.65. An additional signal in favor of reducing Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 54.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 60.55.
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