LTC/USD are trading at 202.05 and continue to move as part of a strong correction and an upward channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $13,413,600,130. Moving averages indicate a short-term bullish trend for Litecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise 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 support level near the 165.05 area. 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 295.05.
Litecoin Forecast and LTC/USD Analysis February 23, 2021
A test of the 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 lower border of the ascending channel. Cancellation of the rise option will be a fall in the value of the asset and a breakdown of the area of 140.05. This will indicate a breakdown of the support area and an acceleration in the fall of the cryptocurrency rate with a potential target below 110.05. With the breakdown of the resistance area and closing of quotations above the level of 255.05, we should expect confirmation of the development of a bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis February 23, 2021 suggests an attempt to correct and test the support area near the level of 165.05. Where can we expect a rebound and continued growth in LTC/USD to the area above the level of 295.05. An additional signal in favor of Litecoin’s 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 140.05 area. This will indicate a continued decline in cryptocurrency with a target below 110.05.
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