Litecoin are trading at 74.40 and continue to move as part of a strong fall. Cryptocurrency capitalization at the time of the publication of the forecast is $4 785 534 326. Moving averages indicate the presence of a short-term bearish trend in Litecoin. At the moment, we should expect an attempt to correct and test the resistance level near the 82.55 area. Where again we should expect a rebound and a continued fall in the rate of Litecoin with a potential target below 62.45.
Litecoin Forecast and LTCUSD Analysis August 16, 2019
In favor of the fall in LTC/USD quotes, a test of the downward resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall option will be made by strong growth and the breakdown of the 90.55 area. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above 110.00. With the breakdown of the support area and closing of quotes below 65.55, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTCUSD Analysis August 16, 2019 implies an attempt to test the resistance area near the level of 82.55. Where can we expect a rebound and continued fall of LTC/USD to the area below the level of 62.45. 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 90.55. This will indicate a continued rise in the cryptocurrency with a target above the level of 110.00.
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