LTC/USD are trading at 65.00 and continue to move as part of the decline. Litecoin’s cryptocurrency capitalization at the time of the publication of the forecast is $4 246 875 885. Moving averages indicate the presence of a short-term bearish trend for Litecoin. At the moment, we should expect an attempt to grow and test the resistance level near the area of 67.05. Where again we should expect a rebound and a continued fall in the rate of Litecoin with a potential target below the level of 54.05.
Litecoin Forecast and LTC/USD Analysis August 29, 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 lower boundary of the «Triangle» model. Cancellation of the fall option will be a strong growth and the breakdown of the area of 75.00. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the level of 100.00. With the breakdown of the support area and closing of quotes below the level of 60.05, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis August 29, 2019 suggests an attempt to test the resistance area near the level of 67.05. Where can we expect a rebound and continued fall of LTC/USD to the area below the level of 54.05. 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 75.00. This will indicate a continued rise in the cryptocurrency with a target above the level of 100.00.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
