LTC/USD are trading at 66.26 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 $4 094 008 334. Moving averages indicate the presence of a short-term bullish trend in Litecoin. Prices broke through the area between the signal lines down, which indicates pressure from the sellers, however, the potential for a rebound up still remains. 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 65.15. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 90.55.
Litecoin Forecast and LTC/USD Analysis February 27, 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 54.05. This will indicate a breakdown of the support area and the acceleration of the cryptocurrency rate drop with a potential target below the level of 45.05. With the breakdown of the resistance area and closing of quotes above the level of 83.05, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis February 27, 2020 implies an attempt to correct and test the support area near the level of 65.15. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 90.55. 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 54.05. This will indicate a continued decline in cryptocurrency with a target below the level of 45.05.
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