LTC/USD are trading at 70.62 and continue to move as part of the growth and bullish channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $4 574 696 166. Moving averages indicate the presence of a short-term bullish trend in Litecoin. Prices again pushed from the area between the signal lines, indicating pressure from buyers. 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 62.45. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 85.05.
Litecoin Forecast and LTC/USD Analysis February 6, 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 55.05. 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 the closing of quotations above the level of 75.65, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis February 6, 2020 implies an attempt to correct and test the support area near the level of 62.45. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 85.05. 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 55.05. This will indicate a continued decline in cryptocurrency with a target below the level of 45.05.
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