LTC/USD are trading at 61.43 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 $4 022 754 234. Moving averages indicate the presence of a short-term bearish trend in Litecoin. Prices have gone far from the area between the signal lines down, which indicates pressure from sellers. At the moment, we should expect an attempt to increase the value of the digital asset and test the resistance level near the area of 68.45. Where again we should expect a rebound and a continued fall in the rate of Litecoin with a potential target below the level of 46.15.
Litecoin Forecast and LTC/USD Analysis February 28, 2020
In favor of falling LTC/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall option will be a strong growth and a breakdown of the area of 75.95. This will indicate a breakdown of the resistance area and an acceleration in the growth of the cryptocurrency rate with a potential target above the level of 90.55. With the breakdown of the support area and closing of quotes below 55.05, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis February 28, 2020 implies an attempt to correct and test the resistance area near the level of 68.45. Where can we expect a rebound and continued fall of LTC/USD to the area below the level of 46.15. 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 75.95. This will indicate a continued rise in the cryptocurrency with a target above the level of 90.55.
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