Litecoin LTC/USD are trading at 89.35 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $5 699 124 382. Moving averages indicate a short-term downward trend in Litecoin. At the moment, we should expect an attempt to rise and test the resistance level near the area of 98.30. Where can we expect a rebound again and the continuation of the fall of the Litecoin rate with a potential target below the level of 60.05.
Litecoin Forecast and LTC/USD Analysis July 31, 2019
In favor of the growth of LTC/USD quotes, a test of the downward 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 the breakdown of the 105.50 area. This will indicate a breakdown of the upper limit of the Triangle model and the continuation of the growth of the cryptocurrency rate with a potential target above the level of 115.00. With the breakdown of the support area and closing of quotes below the level of 80.00, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis July 31, 2019 involves an attempt to test the resistance area near the level of 98.30. Where can we expect a rebound and the continuation of the fall of LTC/USD in the area below the level of 60.05. An additional signal in favor of Litecoin decline is a trend line test on the relative strength indicator. Cancellation of the fall option will be a strong growth and the breakdown of the area of 105.50. This will indicate a continuation of the rise of cryptocurrency with the target above 115.00.
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