LTC/USD are trading at 64.10 and continue to move as part of the decline. The capitalization of Litecoin cryptocurrency at the time of the publication of the forecast is $ 4 135 619 905. 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 67.45. Where again we should expect a rebound and a continued fall in the rate of Litecoin with a potential target below the level of 58.05.
Litecoin Forecast and LTC/USD Analysis August 30, 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 72.35 area. This will indicate a breakdown of the resistance area and continued growth of the cryptocurrency rate with a potential target above the level of 85.00. With the breakdown of the support area and closing of quotes below 60.55, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis August 30, 2019 implies an attempt to test the resistance area near the level of 67.45. Where can we expect a rebound and the continuation of the fall of LTC/USD to the area below the level of 58.05. 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 72.35 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 85.00.
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