LTC/USD are traded at 79.31 and continue to move within a strong growth and an upward channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $5,224,543,574. Moving averages indicate a short-term bearish trend for Litecoin. However, prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of growth 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 resistance level near the area of 73.15. 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 95.25.
Litecoin Forecast and LTC/USD Analysis December 1, 2020
A test of the broken trend line on the relative strength index (RSI) will be in favor of raising the LTC/USD quotes. The second signal will be a rebound from the upper border of the descending channel. Cancellation of the rise option will be a fall in the value of the asset and a breakdown of the 65.05 area. This will indicate a breakdown of the support area and an acceleration in the fall of the cryptocurrency rate with a potential target below 55.05. With the breakdown of the resistance area and closing of quotations above the level of 85.05, we should expect confirmation of the development of a bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis December 1, 2020 suggests an attempt to correct and test the support area near the level of 73.15. Where can we expect a rebound and continued growth in LTC/USD to the area above the level of 95.25. 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 65.05 area. This will indicate a continued decline in cryptocurrency with a target below 55.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
