LTC/USD are traded at the level of 204.08 and continue to move as part of the correction and the ascending channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $13,693,456,467 Moving averages indicate a short-term bullish trend for Litecoin. Prices broke through the area between the signal lines downward, 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 correction in the value of a digital asset and a test of the support level near the 195.65 area. Where can we expect a rebound again and continued growth in the Litecoin rate with a potential target above the level of 230.55.
Litecoin Forecast and LTC/USD Analysis March 16, 2021
In favor of the growth of the LTC/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option will be a fall in the value of the asset and a breakdown of the 192.55 area. This will indicate a breakdown of the support area and an acceleration in the fall of the cryptocurrency rate with a potential target below the level of 165.05. With the breakdown of the resistance area and closing of quotations above the level of 220.05, we should expect confirmation of the development of a bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis March 16, 2021 suggests an attempt to correct and test the support area near the level of 195.65. Where can we expect a rebound and continued growth in LTC/USD to the area above the level of 230.55. An additional signal in favor of Litecoin rise 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 192.55 area. This will indicate a continued fall in the cryptocurrency with a target below the level of 165.05.
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