Litecoin are trading at 77.40 and continue to move as part of a strong correction. Cryptocurrency capitalization at the time of the publication of the forecast is $4 890 503 626. Moving averages indicate the presence of a short-term bearish trend in Litecoin. At the moment, we should expect an attempt to grow and test the resistance level near the area of 85.65. Where again we should expect a rebound and continued fall of the Litecoin rate with a potential target below 55.05.
Litecoin Forecast and LTCUSD Analysis August 20, 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 area of 105.00. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the level of 120.00. 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 20, 2019 implies an attempt to test the resistance area near the level of 85.65. Where can we expect a rebound and the continuation of the fall of LTC/USD to the area below the level of 55.05. 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 105.00. This will indicate a continued rise in the cryptocurrency with a target above the level of 120.00.
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