Litecoin LTC/USD traded at 116.40 and continue to move within the correction and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $7 221 271 827. Moving averages indicate the presence of a short-term upward trend in Litecoin. At the moment, we should expect an attempt to reduce and test the support level near the 107.05 area. 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 3, 2019
The test of the support line on the relative strength indicator 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 closure of quotations above the 135.05 area, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis July 3, 2019 implies an attempt to test the support area near the level 107.05. 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 indicator. 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.