LTC/USD are traded at 172.90 and continue to move within the correction and the bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $11,579,912,881. Moving averages indicate a short-term bullish trend for Litecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 165.55 area. Where can we expect a rebound again and a continuation of the rise in the Litecoin rate with a potential target above the level of 205.55.
Litecoin Forecast and LTC/USD Analysis August 20, 2021
In favor of the growth of the LTC/USD quotes, a test of the bullish trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 155.05 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 125.05. With the breakdown of the resistance area and closing of quotations above the level of 195.05, we should expect confirmation of the development of a bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis August 20, 2021 suggests an attempt to correct and test the support area near the level of 165.55. Where can we expect a rebound and continued growth in LTC/USD to the area above the level of 205.55. An additional signal in favor of Litecoin 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 155.05 area. This will indicate a continued decline in cryptocurrency with a target below 125.05.
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