LTC/USD are traded at 154.15 and continue to move within the fall and the downtrend channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $10,121,463,825. Moving averages indicate a short-term bearish trend for Litecoin. Prices went down from the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a bullish correction in the value of a digital asset and a test of the resistance level near the 170.55 area. Where can we expect a rebound again and the continuation of the fall in the Litecoin rate with a potential target below the level of 130.55.
Litecoin Forecast and LTC/USD Analysis June 9, 2021
A test of the trend line on the relative strength index (RSI) will be in favor of falling LTC/USD quotes. The second signal will be a rebound from the upper border of the descending channel. Cancellation of the reduction option will be a strong growth in the value of the asset and a breakdown of the 195.05 area. This will indicate a breakdown of the resistance area and an acceleration of the rise in the cryptocurrency rate with a potential target above the level of 255.05. With the breakdown of the support area and closing of quotations below the level of 135.05, we should expect confirmation of the development of the downward trend in Litecoin and the beginning of the development of the “Triangle” model.
Litecoin Forecast and LTC/USD Analysis June 9, 2021 suggests an attempt to correct and test the resistance area near the level of 170.55. Where can we expect a rebound and the continuation of the fall in LTC/USD to the area below the level of 130.55. An additional signal in favor of a decline in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 195.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 255.05.
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