LTC/USD are trading at 42.18 and continue to move as part of the fall and the downward channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $2 764 601 627. Moving averages indicate the presence of a short-term downward trend in Litecoin. At the moment, we should expect an attempt to slightly increase the asset and test the resistance level near the 42.85 area. Where again we should expect a rebound and continued decline in the rate of Litecoin with a potential target below the level of 40.35.
Litecoin Forecast and LTC/USD Analysis December 17, 2019
In favor of lowering LTC/USD quotes, a test of a downward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the fall option will be a strong growth and a breakdown of the area of 44.05. This will indicate a breakdown of the resistance area and an acceleration of the growth of the cryptocurrency rate with a potential target above the level of 55.05. With the breakdown of the support area and closing of quotes below 42.05, we should expect confirmation of the development of a bearish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis December 17, 2019 implies an attempt to correct and test the resistance area near the level of 42.85. Where can we expect a rebound and continued fall of LTC/USD to the area below the level of 40.35. 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 44.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 55.05.
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