Litecoin LTC/USD traded at 121.31 and continue to move within the correction and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $7 480 212 542. Moving averages indicate a short-term uptrend in Litecoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 105.65. Where can we again expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 150.00.
Litecoin Forecast and LTC/USD Analysis July 2, 2019
The test of the support line on the relative strength index (RSI) will be in favor of the growth of LTC/USD quotes. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of growth option will make the fall and the breakdown of the area 95.00. This will indicate a breakdown of the lower boundary of the channel and the continuation of a decline in the rate of cryptocurrency with a potential target below the 80.00 level. With the breakdown of the resistance area and the closing of quotations above the area of 145.05, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis July 2, 2019 involves an attempt to test the support area near the level of 105.65. Where can we expect a rebound and the continuation of the fall of LTC/USD in the region above the level of 150.00. An additional signal in favor of the rise of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of growth options will fall and the breakdown of the area 95.00. This will indicate a continued decline in cryptocurrency with a target below the 80.00 level.
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