LTC/USD are trading at 70.71 and continue to move as part of the correction and the upward channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $4 453 059 299. Moving averages indicate the presence of a short-term bullish trend in Litecoin. Prices fell into the area between the signal lines, indicating pressure from the bears, but growth risks still persist. At the moment, we should expect an attempt to reduce the value of the digital asset and test the support level near the area of 68.05. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above 95.05.
Litecoin Forecast and LTC/USD Analysis February 18, 2020
In favor of the growth of LTC/USD quotes, a test of the upward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option will be a fall and a breakdown of the area of 62.05. This will indicate a breakdown of the support area and the acceleration of the fall of the cryptocurrency rate with a potential target below the level of 50.65. With the breakdown of the resistance area and closing of quotes above the level of 86.05, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis February 18, 2020 implies an attempt to correct and test the support area near the level of 68.05. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 95.05. An additional signal in favor of raising Litecoin 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 area of 62.05. This will indicate a continued decline in cryptocurrency with a target below the level of 50.65.
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