Litecoin LTC/USD traded at 119.31 and continue to move within the correction and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $7 528 316 029. 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 115.05 area. Where can we expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 155.00.
Litecoin Forecast and LTC/USD Analysis July 9, 2019
In favor of the growth of LTC/USD quotes, the upward support line test on the relative strength indicator will come out. 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 100.00. This will indicate a breakdown of the lower boundary of the channel and the continuation of the decline of the cryptocurrency exchange rate with a potential target below the 85.00 level. With the breakdown of the upper boundary of the Triangle model and the closure of quotations above the 140.05 area, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis July 9, 2019 involves an attempt to test the support area near the level of 115.05. Where can we expect a rebound and the continuation of the fall of LTC/USD to the area above the level of 155.00. 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 the growth option will be the fall and the breakdown of the area 100.00. This will indicate a continued decline in cryptocurrency with a target below 85.00.
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