LTC/USD are trading at 44.22 and continue to move as part of the correction and the downward channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $2 856 292 098. Moving averages indicate the presence of a short-term bearish trend for Litecoin. Prices are testing the area between signal lines, which indicates pressure from asset sellers. At the moment, we should expect an attempt to fall in the value of the digital asset and a test of the support level near the 41.65 area. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 49.05.
Litecoin Forecast and LTC/USD Analysis June 18, 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 the formation of the head and shoulders reversal pattern. Cancellation of the growth option will be a fall and a breakdown of the area of 40.05. 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 35.05. With the breakdown of the resistance area and the closing of quotations above the level of 46.85, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis June 18, 2020 implies an attempt to correct and test the support area near the level of 41.65. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 49.05. 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 40.05. This will indicate a continued fall in cryptocurrency with a target below the level of 35.05.
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