Litecoin Forecast and LTC/USD Analysis June 16, 2020



LTC/USD are trading at 43.16 and continue to move as part of the correction and the formation of the «Triangle» model. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $2 854 343 357. Moving averages indicate the presence of a short-term lateral trend for Litecoin. Prices have pierced the area between the signal lines down, which indicates pressure from asset sellers. At the moment, we should expect an attempt to lower the value of the digital asset and test the support level near the 41.55 area. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 54.05.

Litecoin Forecast and LTC/USD Analysis June 16, 2020

In favor of the growth of LTC/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the growth option will be a fall and a breakdown of the area of ​​37.45. This will indicate a breakdown of the support area and the acceleration of the fall of the cryptocurrency rate with a potential target below the level of 30.05. With the breakdown of the resistance area and the closing of quotations above the level of 48.05, we should expect confirmation of the development of an upward trend in Litecoin.

Litecoin Forecast and LTC/USD Analysis June 16, 2020

Litecoin Forecast and LTC/USD Analysis June 16, 2020 implies an attempt to correct and test the support area near the level of 41.55. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 54.05. 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 ​​37.45. This will indicate a continued fall in cryptocurrency with a target below the level of 30.05.


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