Litecoin LTC/USD are trading at 87.78 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $5 643 119 979. 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 95.00. Where again we should expect a rebound and a continued fall in the rate of Litecoin with a potential target below 65.00.
Litecoin Forecast and LTCUSD Analysis August 9, 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 Triangle model. 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 125.00. With the breakdown of the support area and closing of quotes below 85.00, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTCUSD Analysis August 9, 2019 implies an attempt to test the resistance area near the level of 95.00. Where can we expect a rebound and continued fall of LTC/USD to the area below 65.00. 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 125.00.
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